Abigail Townsend
Funding Circle swings into the black, shares soar
The London-listed firm, a specialist in small business credit, said the first half had beaten expectations, with net income in the six months to 30 June up 32% at £79.1m.UK term loan originations rose from £471m a year previously to £692m, while FlexiPay...
1 month ago
WAG Payment Solutions upbeat despite profit slide
The freight services fintech, which trades as Eurowag, reported an 18% increase in total net revenue in the six months to 30 June, to €141m. Adjusted earnings before interest, tax, depreciation and amortisation also jumped 18%, to €59.4m.However, pre-tax...
1 month ago
UK construction sector 'turns corner' - PMI
The latest S&P Global UK construction purchasing managers' index was 53.6, below forecasts for 54.9 but comfortably above the neutral 50.0 level. A reading below 50.0 suggests contraction, while one above it indicates growth.In July, the construction...
1 month ago
Eurozone retail sales struggle in July
According to Eurostat, the European Union’s statistics office, the seasonally-adjusted retail trade volume increased by just 0.1% in June. In the wider EU, sales ticked up 0.2%.In June, sales fell by 0.4% in both the Eurozone and wider bloc.Eurozone food,...
1 month ago
EnQuest slams windfall tax as revenues slide
Posting interim results, the London-listed exploration and production company - which is largely focused on the North Sea - said it was "disappointed" with the ongoing application of the levy, "despite operating in an environment where no windfall conditi...
1 month ago
Court orders former Wirecard executives to pay €140m
Insolvency administrator Michael Jaffe had claimed in a civil case that the executives had violated their duties by approving loans to a Singaporean company.The court agreed, ruling on Thursday that Braun - along with former chief financial officer Alexan...
1 month ago
EU aviation probe weighs on Rolls-Royce
The European Union Aviation Safety Agency (EASA) has mandated inspections on the Airbus A350-1000 fleet, which is powered by Rolls-Royce Trent XWB-97 engines.In particular, it will look at flexible fuel hose connections inside the engines to check for dam...
1 month ago
Regulators green light Nationwide's £2.9bn Virgin Money takeover
Both the Financial Conduct Authority and the Bank of England’s Prudential Regulation Authority have backed the deal, an unusual takeover of a listed bank by a member-owned building society.First announced in March, Nationwide chief executive Debbie Crosbi...
1 month ago
Digital 9 warns of valuation slide, shares fall
The London-listed trust said that according to an ongoing review of the portfolio, the aggregate valuation as at 30 June was likely to be "materially" below the previous valuation on 31 December 2023.As a result, net asset value was likely to be around 45...
1 month ago
Eurozone GDP growth revised down
According to Eurostat, the European Union’s statistical office, seasonally-adjusted GDP increased by just 0.2% in the second quarter in both the Eurozone and wider region.That was down on Eurostat’s first estimate of 0.3% and on first quarter GDP, which w...
1 month ago
Google abusing dominant position in online advertising - CMA
Releasing its provisional findings following an investigation, the Competition and Markets Authority said it believed Google had abused its dominant positions through the operation of both its publisher ad server and buying tools to restrict competition i...
1 month ago
Watchdog to probe GXO's takeover of Wincanton
British distribution firm Wincanton agreed to be taken over by the US firm in March, with the deal completing at the end of April.However, on Friday the Competition and Markets Authority said it was investigating the completed acquisition and launched a p...
1 month ago
Strong fourth quarter boosts WH Smith
The retailer said group sales rose 6% in the three months to 31 August, which includes its peak summer trading period, or by 4% on a like-for-like basis.Within that, its core UK travel division saw underlying sales jump 8%, boosted by increased passenger...
1 month ago
Asos slashes debt following Topshop sale
The online-only business said net debt had been reduced by around £150m following the sale and a refinancing of its convertible bonds.Danish retail billionaire Anders Holch Povlsen agreed to buy Asos’s majority stake in its Topshop and Topman brands in a...
1 month ago