News

Private non-financial corporations (PNFCs) raised almost no net finance in July, a sharp turn from June's £2.4bn of net repayments, according to a new report. Statistics released by the Bank of England's money and credit report showed that bank lending to businesses, including overdrafts, and

A Budget tax raid on British banks would hand a competitive gift straight to rival global financial centres, according to the chief executive of one of the world’s largest independent financial advisory organisations. Nigel Green of deVere Group urged Chancellor John Healey to dismiss union le

Beeks Financial Cloud has signed a multi-year deal with the Stock Exchange of Thailand (SET). The Glasgow-headquartered company will deploys its exchange cloud platform across the SET market to deliver a "suite of connectivity market data and co-location services within a single managed environment"

Glenstone REIT has urged AIRE shareholders to accept its takeover offer "immediately," warning that those who miss platform deadlines risk losing out on the cash on offer for their shares. Independent shareholder support for the offer has accelerated in recent days, including valid acceptances from

CVC Capital Partners is considering whether to counter Veritas Capital's firm offer to acquire British engineering firm Bodycote in a deal valued at about £1.85bn, including debt. The New York private equity firm is offering to pay 940 pence per share, 932.8p in cash plus 7.2p interim dividend

Accountancy and business advisory firm Johnston Carmichael has appointed its first chief technology officer, a new audit partner and two other senior leaders to strengthen its team across the UK. Tamsyn Weston joins as chief technology officer leading the firm’s strategy across IT, cyber secur

Aberdeen Investments will take a £200 million hit at two of its infrastructure funds following the collapse of UK broadband provider Airband. The firm said its Standard Core Infrastructure II SCSp Fund and Aberdeen Standard Core Infrastructure III SCSp Fund were impacted by the administration.

Bankers and lawyers have been asked by the Treasury to share feelgood stories about how they blocked dirty money from entering the UK, as ministers try to prove the government's money-laundering controls are working. Officials from The Treasury are hoping to illustrate the UK has improved when it co

German insurance giant Allianz is considering a £5bn bid to acquire AA after the company's private equity owners put it for sale late last year. The private equity consortium of TowerBrook Capital Partners and Warburg Pincus owns the majority stake in Britain's self-styled "fourth emergency se

The Governor of the Bank of England Andrew Bailey has warned of a severe downturn in global stock markets if the AI bubble bursts. Mr Bailey sent a two-page letter to G20 finance ministers and central bank governors as part of his role as chair of the International Financial Stability Board (FSB), r

Treasury officials have presented Chancellor John Healey with a plan to tax oil firms and banks to help rebuild his £22.7bn fiscal buffer, according to reports. Officials believe that a new windfall tax on banks and a further increase on oil firms could help increase government receipts squeez

Allica Bank has applied for a banking licence in Sweden, its first expansion outside the UK, and hired a new executive team to lead the push into a market that could eventually give it access across the EU. The fast-growing digital business bank confirmed it has made an application for authorisation

Hedge funds, insurers and pension funds across the City are scrambling to close out internal misconduct investigations before new FCA rules, designed to stop so-called "rolling bad apples", take effect next month. The term refers to rogue employees who move between firms without ever facing conseque

Accountancy firm Henderson Loggie is calling on the UK Government to radically reform regulation and taxation in the food and drink sector following growing fears for the sector's future. Matthew McDermott, head of food and drink at Henderson Loggie, urged ministers to review employers' National Ins

Partners Group Private Equity has blamed the Middle East conflict for dashing its hopes of recovery after its portfolio fell 8.6%. Non-executive chair Peter McKellar stated there was hope at the start of the year that transactions in private equity would pick up but it was cut short by the uncertain