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News | Banking & Finance

One more bank to offer EU funding

The Bank of Scotland intends to make £250 million of funds available to businesses with fewer than 250 staff in the next two weeks. Business News / Wednesday, 3rd December 2008

Commoditrade takes control of AMCO 

Investment group Commoditrade has bought a controlling interest in a commodities fund with more than £65 million under management. Mergers & Acquisitions / Monday, 1st December 2008

Pre-Budget Report 2008: a boost for business finance

Chancellor Alistair Darling has announced a range of measures intended to help small and medium-sized enterprises (SMEs) access debt finance. Business News / Monday, 24th November 2008

Pre-Budget Report 2008: VAT cut, income tax up

The Chancellor Alistair Darling has announced a cut in VAT to 15 per cent and will introduce a new top rate of income tax of 45p in the pound. Business News / Monday, 24th November 2008

Pre-Budget Report 2008: summary for SMEs

The second Pre-Budget Report from Chancellor Alistair Darling contains a number of proposals that will affect small and medium-sized enterprises. Business News / Monday, 24th November 2008

Beringea launches VCT fundraising

Private equity firm Beringea is seeking £20 million of investors’ money across its two VCT funds, ProVen VCT and ProVen Growth & Income VCT. IPO & City News / Friday, 21st November 2008

High hopes for Pre-Budget Report

Changes anticipated in Monday’s Pre-Budget Report (PBR) include cancellation of a planned corporation tax hike and a climbdown on taxing the foreign profits of UK companies. Business News / Wednesday, 19th November 2008

TransGlobal gets £1 million cash injection

Payment processor TransGlobal Payment Solutions has secured equity finance of £1 million from two venture capital firms. Fundraising Deals / Tuesday, 18th November 2008

Nordic fund defies economic slowdown

Norwegian private equity firm Herkules Capital has closed its third fund at more than NOK 6 billion (£550 million). Fundraising Deals / Thursday, 6th November 2008

Bank of England in emergency rate cut to 3%

The Bank of England’s Monetary Policy Committee has slashed the base rate to boost the UK's flagging economy. Business News / Thursday, 6th November 2008

Duke Street acquires Biomnis for €217 million

Duke Street, the European mid-market private equity firm, has acquired Biomnis, a France-based provider of medical diagnostics, for a total consideration of €217 million (£174 million). Mergers & Acquisitions / Tuesday, 28th October 2008

Abbey Protection agrees Accountax move 

Legal insurance firm Abbey Protection has agreed to buy Accountax, an accountancy, tax and employment law consultancy.  Mergers & Acquisitions / Wednesday, 22nd October 2008

Private shareholdings halve in 18 months

The value of private shareholdings in the UK stock market fell to £138 billion by September as a result of net selling and falling valuations. IPO & City News / Monday, 20th October 2008

Rathbone starts offshore sell-off

London-based wealth management specialist Rathbone Brothers has sold its trust operations in Jersey to its management team. IPO & City News / Wednesday, 15th October 2008

Bank holds interest rate at 5%

The Bank of England has opted to keep rates on hold at five per cent despite fears that the UK is falling into its first recession in 20 years. This is the fourth month rates have remained unchanged since they peaked at 5.75 per cent last year. Business News / Thursday, 7th August 2008

NEWS

Middle East and Africa ‘fastest improving region’

Conditions for entrepreneurship are improving faster in the Middle East and Africa than in any other part of the world, according to a report. Business News / Wednesday, 3rd December 2008

Hospital deal buoys Deltex

Shares in medical technology venture Deltex Medical moved five per cent higher to 10.75p this morning, on news of a five-year deal to supply its 'CardioQ-ODM' equipment to University College London Hospital (UCLH). SMALL-CAP SPOTLIGHT / Wednesday, 3rd December 2008

Eye-catching sales from OMG

AIM-quoted tech concern OMG, the provider of 'image understanding' products employed in Hollywood films among other uses, delivered record sales for the year to September. SMALL-CAP SPOTLIGHT / Tuesday, 2nd December 2008

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