Barclays Bank has this morning announced that the Serious Fraud Office has brought charges against the business in light of what was deemed to be unlawful capital raising at the depths of the 2008 financial crisis. Owing to the business structure, this is complex – charges had already been levelled against Barclays Plc – and the company intends to defend its position, but the fresh uncertainty will do little to impress investors.
Business publisher Euromoney announces a $180 million disposal this morning of its Global Markets Intelligence Division. The buyers are a consortium of one Chinese and one Hong Kong based company, with the proceeds of the sale – estimated to be around $145 million – set to be used by Euromoney to focus on its main investment themes.
Weekend media reports suggest that Deliveroo could be eyeing an IPO in 2019. It is thought the company could attract a $2 billion price tag, which would yield healthy returns for its founder and venture capital backers, although as with many tech companies the business is still struggling to turn a profit. Despite rampant expansion – turnover increased 600% in 2016 – losses for the same period were close on £130m.
