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Funding Circle hires Keers before £2bn float

Funding Circle, the UK’s biggest peer-to-peer lender, will this week take another step towards a £2bn London flotation by naming its first female non-executive director. Sky News understands that the company, which is targeting a listing soon after the summer, will announce that former O2 executive Cath Keers is …

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Walmart buys $16bn stake in India's Flipkart

Walmart is entering the Indian online market by paying $16bn (£11.8bn) for a majority stake in one of the country’s leading web-based retailers. Walmart will buy a 77% stake in Flipkart, the US retailer’s largest-ever acquisition, as it attempts to shore up its international online sales ambitions against the …

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Vodafone snaps up European operations for €18bn

Vodafone has agreed to buy Liberty Global’s operations in four European countries in a deal worth €18.4bn (£16.1bn). The deal sees the UK-based telecoms giant take control of cable operators in Germany, the Czech Republic, Hungary and Romania. Shares rose 1% in early trading. Vodafone said the “transformative” purchase, …

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Goldman Sachs buys stake in digital mortgage broker Trussle

The Wall Street banking giant Goldman Sachs has agreed to buy a stake in Trussle, a UK-based online mortgage broker, underlining the growing appetite of established lenders to invest in financial technology start-ups. Sky News can reveal that Goldman’s Principal Strategic Investments (PSI) division is participating in a near-£14m …

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Why banking's smaller players are bulking up

They sought to shake-up the UK’s banking sector and give customers a real choice from the established big four or five players – but now Britain’s ‘challenger’ banks are themselves coalescing into larger entities or being taken over. The first big consolidation came in June 2015 when TSB, which …

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African nations at risk of economy crippling debt

The International Monetary Fund (IMF) has warned African countries are increasingly threatened by economy crippling debt, despite overall economic growth across the continent. The global financial institution says heavy borrowing and massive deficits are behind the trend, as sub-Saharan African governments increasingly tap into global debt markets. Spurred on …

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House prices in sharpest monthly fall since 2010

House prices recorded their sharpest month-on-month decline for nearly eight years in April, according to lender Halifax. Prices fell by an unexpectedly steep 3.1% compared with March in the latest sign of weakness in the property market and wider consumer slowdown. Halifax cautioned that the figure, the biggest drop …

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