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Tory donor’s digital bank OakNorth hires Goldman to land new funding
A British fintech unicorn founded by a Conservative Party donor is working with bankers on a new funding round as valuations across the sector continue to soar.Sky News has learnt that OakNorth, which counts the former chancellor Philip Hammond among its advisers, has hired Goldman Sachs to explore a share sale that would be its …
Business
Evening Standard
Spain’s state-owned train operator Renfe plans to launch high-speed London to Paris service
Spanish train operator Renfe is planning to launch a high-speed London to Paris service through the Channel Tunnel. The move would pit the state-owned company against Eurostar which has been running the same route since the high-speed line opened in 1994. It was first reported in Spanish paper El Pais and later confirmed by the …
Business
Evening Standard
Lloyds profits boom on back of Covid mortgage market
LLOYDS BANK raced to profit of £2 billion in the last three months, partly on the back of a booming mortgage market as Britons sought bigger houses for their families in a Covid world.All banks have seen mortgage sales leap.That’s a boon to Charlie Nunn, the new Lloyds CEO presenting his first results,.His CFO William …
Business
Sky News
Shell says it will halve some of its emissions by end of decade following Dutch court ruling
Shell says it plans to halve emissions in two categories by the end of this decade but its pledge does not include a third category that accounts for more than 90% of its total.The oil company said the measure will be assessed against 2016 levels and will cover its Scope 1 and Scope 2 emissions …
Business
Sky News
Lloyds beats expectations with third quarter profit
Lloyds Banking Group has posted a pre-tax profit of £2bn in the third financial quarter, a significant improvement on the same time last year.The bank – Britain’s largest mortgage lender – reported a profit before tax of £5.9bn for the first nine months of the financial year. Like its rivals Barclays and HSBC, Lloyds had …
Business
Evening Standard
Budget 2021: Treasury to land £1.5 billion windfall from retail share trading frenzy
THE retail share trading frenzy during lockdown that saw thousands of first time investors punt on the stock market is leading to a massive boom in tax revenue for the Treasury.Buried deep in yesterday’s Red Book, released after the Budget speech, are forecasts for what the Treasury expects in revenue from various taxes.Stamp duty taxes …
Business
Sky News
Sunak’s cut to domestic flight tax won’t accelerate low carbon transition
Just days before the UK hosts perhaps the most important climate summit in history, Rishi Sunak has just made it cheaper to fly there.Not only that, it was 20 minutes into his budget speech before he mentioned the country’s net zero ambitions. In emissions terms, the chancellor’s cut to air passenger duty on domestic flights …
Business
Sky News
Cheaper pints and prosecco: New alcohol duty explained
Chancellor Rishi Sunak has announced a raft of changes to alcohol duties that he promised will bring the cost of a pint in the pub down by 3p “permanently”.Alcohol will now be taxed on the basis of its strength rather than the current system, which has been in place for decades and which the Institute …
Business
Sky News
‘We are just getting started’: Spotify sees 19% jump in paid subscriptions
Spotify has reported a 19% jump in paid subscribers during its third financial quarter.The music streaming company said that the growth – driven by demand in Europe and North America – saw it reach 172 million premium subscribers. Total monthly active users also increased by 19%, to a total of 381 million.Chief executive Daniel Ek …
Business
Business Live
Cyber security company Immersive Labs announces major hire
A cyber security company in Bristol that was founded by an ex-GCHQ trainer has appointed its first chief marketing officer. Evelyn Swaim, former senior vice president at software corporate Blue Prism, joins the fast-growing business as it continues to scale globally. Immersive Labs, which is based at Runway East in Redcliffe, has developed a platform …
Business
Business Live
Devon fleet tech firm Lightfoot set for growth after private equity investment
A Devon-based green-tech firm which has devised a “‘Fitbit for cars and vans” is set to target overseas sales and product development after receiving private equity funding. Lightfoot, the UK’s leading provider of in-cab driver coaching and engagement technology, has received backing from specialist mid-market investor Volpi Capital. The investment in Chudleigh-based Lightfoot will enable …
Business
Business Live
Budding entrepreneurs set to pitch ideas at Plymouth Techstars startup event
South West entrepreneurs with a smart idea for a startup tech venture are one again being invited to pitch their proposals and work them up with the help of experts – and this time there is a focus on the marine sector. The University of Plymouth is again hosting another Techstars Startup Weekend from November …

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