Octopus Money CEO: Cash ISA saving can be ‘over-comforting’ Investing Saving into cash ISAs can lead investors to become “over-comforted” with their financial situation, despite likely better choices, the CEO of Octopus Money has said. Speaking to CityAM, Ruth Handcock argued that the fact that 92 per cent of Brits do not receive financial advice was “the biggest unsolved problem in financial services”. “It [...]
Wickes jumps up to FTSE 250 as National Express owner axed Business Wickes is set to be promoted to the FTSE 250 amid a reshuffle by the London Stock Exchange, while firms such as Mobico, the owner of National Express, and Ferrexpo are expected to be relegated. Wickes has entered the index after its stock price has soared 35 per cent in the last three months, launching [...]
Double blow to London as Cobalt Holdings abandons IPO Markets Cobalt Holdings has abandoned its plans for a $230m float on the London Stock Exchange, issuing a double blow to UK markets after losing Wise to the US today. The company confirmed in a brief London Stock Exchange notice that it “will not proceed with its proposed initial public offering”, dashing hopes for what would [...]
Mitie Group makes bid for Lord Ashcroft-founded Marlowe June 5, 2025 Mitie Group has made a £366m offer for Lord Ashcroft-founded Marlowe, as revenue surged 13 per cent at the outsourcing giant. The FTSE 250 firm said the takeover of the AIM-listed testing and inspection group would deliver £30m of cost synergies as part of its full-year results today. “Adding Marlowe’s 3,000 highly respected colleagues to [...]
CMC Markets eyes Web 3.0 as profit jumps June 5, 2025 Profit at the Lord Cruddas-founded CMC Markets jumped 33 per cent last year to £84.5m, as the group launches a new campaign to enter the ‘Web 3.0’ space. Net operating income came in at £340.1m, a two per cent increase on the previous financial year but below expectations of £359m, the firm revealed in its [...]
Neil Woodford: ‘I could not have been more transparent’ June 5, 2025 Neil Woodford has denied misleading investors over the contents of his collapsed investment fund, insisting that he “could not have been more transparent” to his thousands of retail shareholders. Speaking exclusively to CityAM, Woodford said he regularly published information on his fund’s portfolio and his investment strategy prior to its implosion, arguing that the [...]
Trump launches fresh attack on Fed as jobs data disappoints June 4, 2025 US president Donald Trump has launched a fresh attack on Federal Reserve chair Jay Powell as the latest data paints a gloomy picture of the health of the world’s largest economy. Writing on his social media platform Truth Social, Trump said that Powell was “unbelievable,” after May data revealed the worst ADP jobs numbers in [...]
Majority of Brits don’t understand investment funds, survey finds June 4, 2025 A majority of Brits lack knowledge of key financial and investment terms, a new study from Hargreaves Lansdown has found, underscoring the scale of the challenge to encourage more people to invest for the long term. Only 37 per cent of Brits could correctly identify an investment fund, according to a survey of 2,000 people [...]
Schroders steps back from City lobbying taskforce June 4, 2025 Schroders has stepped back from a City taskforce lobbying to drive growth in the UK’s capital markets, despite its close ties with the asset manager’s former CEO Peter Harrison. The Capital Markets Industry Taskforce (CMIT), which was established in 2022, is chaired by London Stock Exchange Group CEO Julia Hoggett, and counts Harrison as one [...]
IG Group stock dips after UBS downgrade June 4, 2025 IG Group has been downgraded by UBS, sending its stock price down amid fears over the weakness of the US dollar. The FTSE 250 trading firm was downgraded from a ‘Buy’ to ‘Neutral’ by UBS analysts, who cited its relatively high valuation and growth challenges. IG Group’s stock price surged more than 15 per cent [...]
