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Monzo-Nubank talks cast fresh doubt over London IPO


By Goran Nastic

Digital bank Monzo is in early-stage talks over a potential sale to Brazilian fintech giant Nubank that could value the UK digital bank at between £8bn and £10bn, casting fresh doubt over one of London's most anticipated fintech stock market debuts.

New York-listed Nu Holdings, Nubank's parent company, has reportedly approached Monzo about a possible combination, with the UK lender understood to have appointed Morgan Stanley and Qatalyst as advisers


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Aldi announces £900m investment in UK stores

Aldi has announced that it plans to invest a record £900m into new stores and distribution centres in the UK in a bid to tackle food affordability

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Raspberry Pi lifts outlook after record first-half performance

Raspberry Pi has upgraded its full-year profit outlook after reporting record first-half revenue and profitability, driven by strong demand from OEM customers and resellers, higher unit shipments and a favourable product mix.

Revenue for the six months to 30 June rose 90% to $256.9m, while adjusted earnings more than doubled, increasing 108% to $40.3m. Pre-tax profit climbed 216% to $19.6m from $6.2m a year earlier

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£1bn invested in British automotive sector in seven days

The British automotive sector has seen over £1bn invested over the last seven days, following announcements from manufacturers over the past week

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Vistry reports loss as it cuts profit guidance

Vistry has reported a loss of £661.3m in the six months to 30 June, reflecting discounted open market stock and £73.2m in building safety provision.

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Harworth board U-turns to back Peel’s increased £632m offer

Harworth Group’s board has reversed its previous opposition to Peel Holdings’ takeover bid, unanimously recommending shareholders accept an increased “best and final” cash offer of 187p per share that values the property developer at around £631.7m

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Gordon Brothers demanding £30m for Poundland

Gordon Brothers, the owner of Poundland, is demanding £30m from potential buyers to acquire the UK discount chain, according to reports

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Balfour Beatty to create 2,000 UK jobs

Infrastructure and construction group Balfour Beatty reported plans to increase its UK workforce from around 14,000 to 16,000 over the next two years as it expands to deliver major infrastructure projects

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Genel outbids DNO in $436m takeover of Capricorn Energy

Genel Energy has agreed to acquire Capricorn Energy for $436m (£330m), outbidding a previously agreed takeover offer from Norwegian oil company DNO

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NFU Mutual selects Bloomberg and Clearwater Analytics to modernise investment operating model

NFU Mutual (NFUM) has selected Bloomberg Buy-side Solutions together with Clearwater Analytics to modernise its investment operating model

AO World acquires Jessops

AO World has announced that it has completed its acquisition of the specialist photography retailer, Jessops, from businessman and Dragons’ Den star, Peter Jones CBE
Airtel Money targets London listing with IFC backing

Airtel Money, the digital payments arm of Airtel Africa, announced plans to list on the LSE at a valuation expected to reach between $8bn and $9bn, having also secured a cornerstone investment agreement with the International Finance Corporation (IFC)
JD Sports' profits fall 20% in HY update

JD Sports has recorded a near 20% year-on-year drop in its profit before tax, totalling £294m, as cost-of-living pressures hit its consumers.

The sports fashion retailer said its performance in the 26 weeks to 1 August was resilient against a challenging backdrop, as its sales dropped by 0.8% to £5.89bn.


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