Homebase collapsed into administration in November, revealing it owed more than £650 million to unsecured creditors including AO World, Halfords, and The Hut, according to documents newly filed at Companies House. Teneo, the appointed administrator, disclosed that unsecured non-preferential creditor claims totalled £657 million—a sum that includes around £100 million owed to trade creditors. Unsecured […]
OpenAI, the maker of ChatGPT, is in discussions to raise close to $40 billion in fresh funding—almost doubling its valuation to as high as $340 billion, according to reports. The San Francisco-based company was last valued at $157 billion in October, when it secured $6.6 billion of investment. Microsoft led a previous round of financing […]
Breadcrumb Trail Links Finance Investor News The new entity will be seeded with $2 billion to invest in style of sovereign wealth funds Get the latest from Barbara Shecter straight to your inbox Sign Up Published Jan 29, 2025 • 3 minute read Alberta Premier Danielle Smith, with Finance Minister Nate Horner, speaks at a […]
Donald Trump’s social media venture, Trump Media & Technology Group (TMTG), has unveiled plans to expand into cryptocurrency and fintech services through a new brand dubbed Truth.Fi. The announcement sent shares in TMTG—owner of the Truth Social platform—up 15% in pre-market trading on Wednesday. Under the Truth.Fi banner, TMTG says it will invest up to […]
Chancellor Rachel Reeves has given her official backing to plans for a third runway at Heathrow, arguing that the expansion could create more than 100,000 jobs and significantly boost the nation’s economic output. “A third runway is badly needed,” she said, pointing to projections suggesting a 0.43% rise in potential GDP by 2050 if the […]
Jaguar Land Rover (JLR) has reported a 17% drop in quarterly profit, down to £523m in the final three months of last year, even as the automotive group achieved its best third-quarter revenue on record. The company’s sales for the period rose 2% year-on-year to £7.5bn. However, over the first nine months of its financial […]
Lloyds Banking Group has announced plans to close another 136 high-street branches across the UK, with 61 Lloyds, 61 Halifax and 14 Bank of Scotland sites scheduled to shut between May and March 2026. The move follows the bank seeing that more and more customers are conducting day-to-day transactions via digital platforms, with over 20 […]
Rachel Reeves is set to announce an ambitious package of measures aimed at jump-starting Britain’s flagging economy, as she positions her government’s growth drive alongside Margaret Thatcher’s 1980s approach to deregulation. In her speech on Wednesday, the Chancellor will throw her weight behind a series of high-profile infrastructure and development projects, including an expansion of […]
Rachel Reeves has called on ministers to seize new opportunities for raising living standards, telling MPs that the country needs to go “further and faster” to boost growth. Amid concerns that an intense focus on economic expansion could overshadow the government’s net zero commitments, Downing Street insisted that its plans for stimulating the economy “go […]
Amazon has begun the process of introducing same-day drone deliveries from its warehouse in Darlington, County Durham, in what could be a major milestone for its Prime Air service in the UK. The technology giant is holding a public meeting in the area this week to seek permission from the Civil Aviation Authority (CAA) to […]