News

A new report has found that the British Business Bank's Investment Fund for Scotland (IFS) is helping to improve access to finance for smaller businesses across the country, supporting ambitious firms to grow, innovate and scale.  The ‘Early Assessment Report’ undertaken by an indep

The International Monetary Fund (IMF) has praised the UK Government for taking "decisive measures to cut future spending and raise taxes as it urged ministers to "stay the course" ahead of its upcoming Budget. Kristaline Georgieva, the institution's managing director, claimed Britain's budget defici

Bank of America has been fined $1.2bn for failing to detect potential money launder and other illegal activity ahead of its quarter three results. The US Treasury Department said the banking giant failed to report more than $5bn in suspicious activity to the government, claiming that $1bn of which p

Brooks Macdonald has recorded a “significant improvement” in its net flows, with inflows of £54m as outflows from its private client business narrowed to £53m. The wealth manager’s net inflows for the three months to 30 September compare with net outflows of £49m

M&G has launched its first long-term asset fund (LTAF), funded through the firm’s £138bn with-profits fund. The M&G Diversified Private Credit Feeder Long-Term Asset Fund will launch with £74m, with 90% of its assets invested into the M&G Diversified Private Credit Fund

Saba Capital Management has taken a fresh position in Neuberger Private Equity (NBPE) and doubled its stake in RTW Biotech London Stock Exchange filings showed the activist investor's position in £562m NBPE hit 5.06% last Tuesday. Saba grew its position through derivatives comprising 1.77% of

Non-audit tax advisory firm WTS UK has appointed Brad Ashton as a partner, joining the firm from RSM. Ashton will be responsible for building its customs and global trade practice.  During his time at RSM, he founded and grew the firm's customs capability over 10 years, helped clients navigate

Trading Central has expanded its range of Undertakings for Collective Investment in Transferable Securities (UCITS) Exchange Traded Funds (ETFs)with two new funds launched through white-label platform HANetf. The Trading Central Quant U.S. 50 Equity Index UCITS ETF (TCQU) and Trading Central Quant G

Scottish crypto firm Zumo has joined forces with cloud-native core banking platform SaaScada to provide UK financial institutions a "ready-built" route into regulated crypto services. Zumo, will handle the crypto side, from custody and trading to Know Your Customer and Anti-Money Laundering checks o

The board of Scottish Oriental Smaller Companies Trust has launched a "strategic review" into the company's future after it failed its five-year performance test from 2021. The investment trust launched a tender offer last month to allow shareholders to sell up to a quarter of the £315m t

Standard Life has announced Siobhan Boylan, Aberdeen Group's, nominated non-executive director, will cease being on its board following Aberdeen's stake sale. Boylan who is Aberdeen Group's chief financial officer served on the board until the asset manager reduced its stake in Standard Life on Octo

As Baillie Gifford US Growth Trust warns that low turnout could hand Saba the board, ShareSoc says the real problem isn’t apathy but invisibility. ShareSoc, which represents more than 9,500 private investors, said the problem is more complex, explaining that shareholders don’t know they

The UK Government has launched a consultation on rewarding whistleblowers who report economic crime such as fraud and bribery. The Government’s move would bring Britain closer to the US model, where financial incentives are used to encourage whistleblowers who provide evidence that helps uncov

Independent voting experts Glass Lewis, ISS and PIRC have backed the board of Baillie Gifford US Growth Trust urging shareholders to vote against Saba Capital Management's requisition request to install three of its nominees onto the board.

Around 160 FTSE 350 companies have been identified as non-compliant with UK modern slavery reporting requirements over the past six years, according to analysis from Rathbones. The wealth manager published the findings in its report titled: Votes Against Slavery 2020-2025: Six Years, Six Lessons, re