Britain Financial News

The UK’s venture capital industry has come under sharp criticism from an influential group of MPs.

Quilter Investors and Schroders are now tied for the greatest number of five Crown funds, with 13 each, while Royal London holds the highest percentage of top rated funds, with 12 out of 49 (24.5%).

pound headed for a seventh straight day of losses on Monday against the dollar, its longest losing streak since the onset of the pandemic in 2020, after a survey showed Britain's private sector growing at its slowest pace in six months in July. The S&P Global/CIPS composite Purchasing Managers' Index showed a preliminary reading of 50.7, down from 52.8 in June in the biggest month-on-month drop in 11 months. Although above the 50-level that separates growth from contraction, it was the weakest reading since January.Sterling was last down 0.2% on the day at $1.2827 having touched a session low earlier of $1.2808 after a preliminary survey of UK business activity showed a downturn in British manufacturing deepened, while the service sector also slowed.

Family-owned investment bank Stephens has bolstered its UK operation with two senior bankers from rival Houlihan Lokey.

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'Changes were varied across the range with the only consistent theme being a reduction in the UK exposure.'

The sale to Carne Group will still go through and is expected to complete in Q4 2023.

Ørsted originally owned a 50% stake in Array and divested the first 25% in 2014 to global investment group CDPQ for £644m.

The chief executive of a Spanish pipe manufacturer has been appointed as the new boss of InfraBuild, the local steel business regarded by analysts as the best performing asset in Sanjeev Gupta’s global GFG Alliance.

Liontrust has given shareholders an extra three days to accept its takeover offer for GAM as it looks to force through a deal against continued opposition from some vocal critics.

Faversham, England | The world is full of sun-blessed places. And then there’s England, with a world-class reputation for being anything but.

China's Foreign Minister Qin Gang has not been seen in public for almost a month, sparking a flurry of questions over his whereabouts. Here's what we know so far about the disappearance of one of China's most senior diplomats: — Who is Qin Gang? — Qin, considered a confidante of President Xi Jinping, was appointed foreign minister in December 2022. The 57-year-old spent several years at the Chinese embassy in London and is a fluent English speaker.

Transport Corporation (KSRTC) for compensation in a British court, which ruled in their favour. The couple then tried to get the British court order executed in India but Justice HP Sandesh in his judgement on July 14 nullified it.

Star ABC broadcaster Stan Grant will not return to host the Q&A political discussion show after taking a leave of absence sparked by critical mainstream coverage and racist social media attacks.

Ripple CEO Brad Garlinghouse has condemned the United States securities regulator over recent comments from its lawyers that hint at a possible appeal to its case against Ripple.

Jason Day could not quite make it Jason’s day at the British Open – but the rejuvenated Australian golf superstar was still left thrilled after joining a host of legends with his near-miss at Royal Liverpool.

A raft of reforms rolled out to aid the financial sector in recent weeks will increase the City’s competitiveness “at pace” after years of “distractions”, according to leading lawyers and regulatory experts.

Anil Agarwal's Vedanta Resources (VRL) rolled over the $449 million (₹3,689 crore) debt repayment to a group company at more than double the interest payable to the original loan. The loan from Vedanta Limited's (VDL) subsidiary Cairn India Holdings (CIHL) would now have repayment on December 31, 2024, with an interest of 17%, up from 7%, a move that would help repay outsiders ahead of group companies. VDL's subsidiary, CIHL, had lent $956 million to Twin Star Holding, a related party, in FY21 at 7%. As of April 1 this year, the outstanding loan balance was $449 million and had to be repaid by December. This has been extended to December 31, 2024, with interest payable half-yearly. The management had clarified in 2020 that no inter-company loans from VDL to VRL would be used to meet debt obligations after a few VDL equity investors including UK-based hedge fund Kyma Capital raised concerns over the use of Cairn International to borrow $956 million at 7% during a delisting attempt.

The 1975, a British pop-rock band, has canceled upcoming shows in Indonesia and Taiwan after their set was cut short at a music festival in Malaysia. The decision came following frontman Matty Healy's comments on Malaysia's anti-gay laws and an on-stage kiss with a bandmate. The band had eagerly looked forward to performing for fans at Jakarta’s We the Fest on Sunday (July 23) and at the Taipei Music Center on Tuesday (July 25) as part of their Asia tour 2023. However, due to the current circumstances, they had no choice but to call off the scheduled performances. In a statement posted on We the Fest’s Twitter page, The 1975 wrote, “The 1975 regret to announce that their forthcoming shows in Jakarta and Taipei will no longer be going ahead as planned. The band never takes the decision to cancel a show lightly and had been eagerly looking forward to playing for fans in Jakarta and Taipei but unfortunately, due to current circumstances, it is impossible to proceed with the scheduled shows.” The controversy arose when Matty Healy openly criticized Malaysia's LGBTQ laws during the Good Vibes Festival in Kuala Lumpur on July 21. He also engaged in a kiss with bassist Ross MacDonald on stage. The festival's organizer, Future Sounds Asia, responded by canceling the remaining days of the festival.