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Finance News
Monzo’s Valuation Drops 40% in Latest Funding Round
The challenger bank’s drop in value follows a round of layoffs at the beginning of June, as industry experts predict a wave of “down rounds” for fintechs.
Fears of COVID-19 “Second Wave” Spark Global Stock Sell-Off
US futures and European stocks have been heavily impacted by a surge in global coronavirus cases, driving prices lower on Monday.
UK Economy Contracted by Record-Breaking 20.4% in April
The fast escalation of the COVID-19 pandemic and resultant lockdown measures saw the UK’s economic output fall by the sharpest margin since records began.
Centrica, Owner of British Gas, Plans to Cut 5,000 Jobs
In addition to the cuts, the multinational electrical company intends to radically restructure its organisation to create a “flatter” company hierarchy.
OECD: UK Economy Likely to Suffer Most from COVID-19
While all nations will suffer lasting damage from the pandemic, the Paris-based think tank has forecasted an especially bleak future for the UK.