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Financial
PSP Investments Acquires AGS Airports for £1.5 Billion, Expanding UK Presence
November 14, 2024 07:55 PM AEDT| By Team Kalkine MediaHighlights:,Major Acquisition:,PSP Investments has,acquired,AGS Airports, which,operates,Aberdeen, Glasgow, and Southampton airports, in a £1.5 billion deal.,Strategic Expansion:,The acquisition is part of PSP’s broader strategy to strengthen its air...
NatWest and Barclays Raise Mortgage Rates Again Amid Inflation and Market Uncertainty
November 14, 2024 07:36 PM AEDT| By Team Kalkine MediaHighlights:,Second Mortgage Rate Hike in a Month,: NatWest and Barclays raise fixed mortgage rates again, following similar moves by other lenders despite a recent base rate cut by the Bank of England.,Inflation Worries Drive Market Sentiment,: Risin...
Burberry Bets on Heritage Revamp to Turn Around Fortunes Amid Mounting Losses
November 14, 2024 07:36 PM AEDT| By Team Kalkine MediaHighlights:,Strategic Shift to Core Heritage Products,: Burberry’s new plan focuses on returning to its traditional product range under CEO Joshua Schulman’s leadership.,Mounting Losses Highlight Urgency,: The luxury fashion house reported a £41 mill...
Zephyr Energy Gears Up for Extended Drilling Campaign at Paradox Basin
November 14, 2024 07:20 PM AEDT| By Team Kalkine MediaHighlights:,New Drilling Phase:,Zephyr Energy prepares to extend the State 36-2R well at Paradox Basin by,5,500 feet,, targeting,additional,reservoir potential.,Full Funding Secured:,The next phase of operations, costing $7 million, will be financed...
Experian Delivers Revenue and Profit Growth in 1H, Executes Strategic Acquisitions
November 14, 2024 03:11 AM AEDT| By Team Kalkine MediaHighlights,Revenue rose 7% across all regions, with notable strength in Consumer Services and B2B sectors.,Benchmark EBIT grew 10%, while EPS saw an 8% increase, showcasing profitability and growth.,Strategic acquisitions and a 7% dividend increase r...
Together Financial Services Expands Lakeside Securitisation Facility to £1 Billion
November 14, 2024 12:23 AM AEDT| By Team Kalkine MediaHighlights,Lakeside securitisation upsized from £825 million to £1 billion.,Facility maturity extended to November 2028.,Improved commercial terms and new banking partner added.,Together Financial Services Limited (“Together”), a prominent non-bank l...
Ondo InsurTech Scales Up with Nationwide LeakBot Rollout for 5M Homes
November 13, 2024 11:00 AM AEDT| By Team Kalkine MediaHighlights:,Expansion into 16 US States:,Ondo InsurTech's partnership with Nationwide Mutual will see its LeakBot device rolled out across 16 US states following a successful pilot.,Addressing Costly Water Damage:,LeakBot’s early detection technology...
London Stock Exchange Unveils £58 Billion Green Investment Scheme for Clean Energy Projects
November 13, 2024 11:00 AM AEDT| By Team Kalkine MediaHighlights:,£58 Billion Green Initiative Launched:,London Stock Exchange partners with Climate Investment Funds to channel private capital towards clean energy projects in developing nations.,UK Government Targets 81% Emission Reduction:,At COP 29, t...
SEGRO Abandons Full Bid for Tritax EuroBox, Strikes Asset Deal with Brookfield
November 13, 2024 03:59 AM AEDT| By Team Kalkine MediaHighlights:,●,Bid Withdrawal:,SEGRO will not increase its all-share offer for Tritax EuroBox, ending its takeover bid.,●,Asset Purchase Agreement:,SEGRO reaches a deal with Brookfield to acquire six European assets if Brookfield’s bid for EuroBox suc...
Vietnam Enterprise Investments Quarterly Outlook Highlights Equity Market Resilience Amid Global Uncertainty
November 13, 2024 03:54 AM AEDT| By Team Kalkine MediaHighlights,Equity Market Dynamics,: Vietnam's growth supported by pro-growth policies, but global shifts may cause foreign outflows.,US Policy Impact,: Potential tariffs and a strong dollar could challenge, but also position, Vietnam as an alternativ...
Metro Bank Delivers Profitable October, Reaffirms 2025 Guidance Amid Strategic Portfolio Shift
November 13, 2024 03:52 AM AEDT| By Team Kalkine MediaHighlights,Profitable October,: Metro Bank’s profitability aligns with 2025 targets of mid-to-upper single-digit RoTE.,Balance Sheet Repositioning,: Completed sale of £2.5 billion in mortgage assets, refocusing on high-yielding commercial and SME loa...
FCA Fines Metro Bank £16.6 Million for Financial Crime Failures in Transaction Monitoring
November 13, 2024 03:50 AM AEDT| By Team Kalkine MediaHighlights,£16.6M Fine,: FCA penalizes Metro Bank for inadequate anti-money laundering systems affecting over £51 billion in transactions.,System Flaws Unaddressed,: Issues persisted for over four years due to data input errors and ineffective monito...
Ondo InsurTech Expands LeakBot Rollout Across 16 US States with Nationwide Partnership
November 13, 2024 03:02 AM AEDT| By Team Kalkine MediaHighlights:,Nationwide Expansion,: Ondo InsurTech expands its LeakBot device to 16 additional US states via a partnership with Nationwide Mutual Insurance.,Customer Benefits,: LeakBot devices and repair services will be offered free of charge to Nati...
Santander Increases Mortgage Rates as Inflation Concerns Persist
November 12, 2024 07:37 PM AEDT| By Team Kalkine MediaHighlights:,Mortgage Rate Hikes Implemented:,Santander has raised fixed mortgage rates for new buyers and remortgages by up to 0.29%, while variable tracker rates decline after the base rate cut.,Economic Uncertainty Impacts Borrowing Costs:,Rate inc...
Nationwide Expands Partnership with Ondo InsurTech for LeakBot Rollout Across 16 US States
November 12, 2024 07:37 PM AEDT| By Team Kalkine MediaHighlights:,Nationwide Expands LeakBot Rollout:,Ondo InsurTech’s LeakBot will be integrated into Nationwide’s homeowner insurance program across 16 US states following a successful pilot in Ohio.,No-Cost Device and Repair Service:,The expansion offer...
Metro Bank Slapped with £17M for Lapses in Anti-Money Laundering Protocols
November 12, 2024 07:37 PM AEDT| By Team Kalkine MediaHighlights:,Major Fine Imposed:,Metro Bank faced a £16.7 million penalty from the Financial Conduct Authority (FCA) for insufficient anti-money laundering controls.,Transaction Monitoring Failures:,The bank failed to monitor transactions worth £51 bi...
Are Bitcoin’s New Highs Misleading About Its Practical Use?
November 12, 2024 12:43 AM AEDT| By Team Kalkine MediaHighlights,Bitcoin’s price continues to reach unprecedented highs, reflecting strong momentum in the cryptocurrency market.,Trading volumes have surged significantly, showing high activity on crypto exchanges.,Core usage metrics like transaction coun...
Are Direct Line’s Job Cuts a Sign of Deeper Financial Struggles?
November 12, 2024 12:30 AM AEDT| By Team Kalkine MediaHighlights,Direct Line Insurance Group PLC faces ongoing challenges in motor insurance, maintaining guidance despite cost-cutting moves.,Gross written premium and related fees rose significantly, with notable growth in both motor and non-motor segmen...
Could Motor Finance Loans Spell Trouble for Lloyds Banking Group?
November 12, 2024 12:26 AM AEDT| By Team Kalkine MediaHighlights:,Lloyds Banking Group operates with a strong capital base, essential in the financial services sector.,Recent court developments raise questions about loan reversals, but Lloyds appears well-positioned to manage risks.,Lloyds has generated...
UK Government Sells £1 Billion Stake in NatWest Group Through Off-Market Purchase
November 11, 2024 06:54 PM AEDT| By Team Kalkine MediaHighlights,His Majesty’s Treasury (HM Treasury) sold approximately 262.6 million shares in NatWest Group at 380.8 pence each, generating £1 billion.,Following the transaction, HM Treasury’s voting rights in NatWest will decrease from 14.2% to 11.4%.,...
AI on the Rise: A Look at Top AI Companies and Their Stocks