Banking

Banking

US banking heir gave Trump campaign fund $50mn after ex-president’s conviction

Unlock the US Election Countdown newsletter for freeThe stories that matter on money and politics in the race for the White HouseTim Mellon, a reclusive scion of the billionaire American banking dynasty, gave $50mn to a fundraising group supporting Donald Trump a day after the former US president was convicted of falsifying business records in a New York hush money trial.The donation, disclosed on Thursday, means Mellon has now given $75mn to the group, known as Make America Great Again Inc, over the past year, according to federal filings.He has...
Banking

Revolut seeks valuation of more than $40bn in employee share sale

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.UK fintech Revolut is targeting a valuation exceeding $40bn in a share sale that would cement its status as Europe’s most valuable start-up, according to three people with knowledge of the plans.The SoftBank-backed company is working with Morgan Stanley to sell about $500mn worth of existing shares, including those held by employees, the people said. More than $40bn would be at least 20 per cent higher than the $33bn valuation Revolut achieved...
Banking

Empty Stalybridge unit to be site of Banking Hub

STALYBRIDGE is set to become the location of a Banking Hub in a unit that has stood empty for six years. As branches face closure, Cash Access UK has signalled its intention to open one at the bottom of the Summers Quay development, on Armentieres Square. As well as two meeting rooms, where customers can hold one-one-one conversations with community bankers, a main counter area will be incorporated in the unit, which has stood empty since 2018. Summers Quay empty units in Stalybridge. Image by GGC Media According to Cash...
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