Fintech PR
Novuna Business Finance Research: Small business growth forecasts at two-year peak – as confidence accelerates in the North and Midlands
LONDON, Oct. 18, 2024 /PRNewswire/ — The percentage of UK small business predicting growth for the final three-months of 2024 remains at the two-year high of last quarter (35%) – with significant upturns in growth forecasts across the North, the Midlands and among younger businesses – according to new research from Novuna Business Finance.
The quarterly tracking research from Novuna, now in its tenth year, goes beyond an attitudinal snapshot of business confidence and instead tracks the percentage of business owners that forecast actual business growth each quarter. The last quarterly cycle of Novuna research, conducted immediately after July’s General Election, revealed a two-year high for the percentage of enterprises that predicted growth (35%). The new Q4 figures – 35% again – suggest this summer bounce-back was not a flash in the plan but could be the start of a new, sustainable, period of growth outlook for UK small businesses.
The Novuna Business Finance study indicates that, since the General Election, the Quarter-on-Quarter upturns in small business growth forecasts are happening in the North and the Midlands, rather than the South East or South West. In the North East, small business growth forecasts have jumped from 19% to 36% since the eve of the General Election. Novuna’s research noted similar rises in the North West (up from 23% to 34%), the East Midlands (27% to 37%) and West Midlands (up from 29% to 40%). Conversely, whilst growth outlook is usually disproportionately strong in Central London (57%), small business growth outlook has become subdued in the South East and South West, with no meaningful seasonal rises for Q4 (35% and 23% respectively).
In addition to evidence of resurgent small business confidence in the North and Midlands, younger businesses (those trading for less than five years) have seen growth forecasts improve over four consecutive quarters during 2024. In contrast, among older businesses (those trading for more than 20 years), growth outlook has fallen this year. The smaller size and digital agility of younger businesses has, perhaps, made them more able to adapt to change this year.
Jo Morris Head of Insight at Novuna Business Finance comments: “Whilst there is a lot of speculation on what lies ahead for businesses in the Autumn Budget, the last four months have been a period of relative positivity and consistency for UK small businesses. For the last two consecutive quarters, 35% of small business owners have told us they forecast growth, which represents a marked upturn from 30% before July – and the years between Covid and the cost-of-living crisis, which was a period stagnation in terms of small business growth forecasts.
“As the Government pledges to create equity of opportunity more broadly across the UK, it is noteworthy from our data that small business growth is on the rise across the Midlands and the North. There are challenges ahead this autumn, as eyes turn to the Autumn Budget and the economic ramifications of the US Presidential election result, but UK small businesses go into Q4 in their most buoyant mood for two years – and we at Novuna Business Finance will be supporting mature businesses to help them invest in future growth initiatives and to realise their full potential.”
View original content:https://www.prnewswire.co.uk/news-releases/novuna-business-finance-research-small-business-growth-forecasts-at-two-year-peak–as-confidence-accelerates-in-the-north-and-midlands-302279656.html
Fintech PR
Kroll Liquidators Secured Multi-Million Dollar Settlement Between Emergent Fidelity Technologies and FTX Estate Approved by US Bankruptcy Court
NEW YORK, Oct. 18, 2024 /PRNewswire/ — Kroll, the leading independent provider of global financial and risk advisory solutions, announced today that a multi-million dollar settlement between the liquidators of Emergent Fidelity Technologies, Ltd. and the FTX Estate has been approved by the US Bankruptcy Court in Delaware. This settlement involves the recovery of 56 million shares in Robinhood Markets, Inc., acquired by Emergent in May 2022.
Emergent is an Antiguan entity controlled by former FTX executives Sam Bankman-Fried and Zixiao “Gary” Wang. Kroll’s liquidators of Emergent, Angela Barkhouse and Toni Shukla were originally appointed as Receivers over Emergent on an emergency basis to prevent assets from being sold and made inaccessible to the victims of Bankman-Fried’s scheme. The U.S. Department of Justice (DOJ) took control of the assets. The liquidators from Kroll worked with the DOJ to facilitate the repurchase of shares by Robinhood, securing over $626 million for the victims of the FTX scheme.
This settlement is part of the ongoing efforts to recoup assets back for the victims of Bankman-Fried’s scheme.
Angela Barkhouse, Head of Offshore Restructuring at Kroll commented, “The settlement is a significant step in the liquidation of Emergent Fidelity Technologies, Ltd., providing a fair and efficient resolution for all parties. It underscores our commitment to maximizing value and aims to resolve outstanding claims and facilitate the equitable distribution of assets to creditors.”
Advisors
Emergent is represented by the liquidators, Angela Barkhouse and Toni Shukla of Kroll, Morgan Lewis & Bockius LLP as legal counsel in the United States, Forbes Hare, and Lake Kentish & Bennett in Antigua, and David Joseph KC and Alex Riddiford of Essex Court Chambers as counsel.
About Kroll
As the leading independent provider of financial and risk advisory solutions, Kroll leverages our unique insights, data and technology to help clients stay ahead of complex demands. Kroll’s team of more than 6,500 professionals worldwide continues the firm’s nearly 100-year history of trusted expertise spanning financial, risk, governance, transactions and valuation. Our advanced solutions and intelligence provide clients the foresight they need to create an enduring competitive advantage. At Kroll, our values define who we are and how we partner with clients and communities. Learn more at kroll.com.
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DUBAI, UAE, Oct. 18, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, makes another statement in rewarding excellence in trading. The exchange has added 1,000,000 USDT for top performing squads in the World Series of Trading (WSOT). This latest boost will reward 27 additional teams on the Squad Leaderboard and Regional Squad Leaderboards, giving more squads a better chance to claim exclusive rewards up to 10% of the total WSOT prize pool.
From now to Oct. 31, 10AM UTC, the best performing squads may get a head start in their race to unlock a 1,000,000 USDT prize pool. The prestigious prizes are reserved for elite players for a limited time only. Expanding the rewards spectrum for extraordinary yield seekers outside of the top ten and top three lists, the freshly unlocked prize pool gives more high-performing teams their due recognition, and a chance to secure bigger awards.
New Booster Prize Pool Breakdown
1.Squad Leaderboard by PnL(%)
- Ranks 11-20: 21,000 USDT per squad
- Ranks 21-30: 16,000 USDT per squad
2.Regional Squad Leaderboards by PnL(%)
- Ranks 4-10 in each region: 10,000 USDT per squad
WSOT 2024: Higher Stakes, Bigger Rewards
Squads leading the competition now face even higher stakes. The last ones standing in top positions throughout the remaining days stand to earn significantly more, thanks to the expanded prize structure.
Since its launch, WSOT has become the premier crypto trading competition, with one breakout year after another. In 2024, the total prize pool increased by 2,000,000 USDT, reaching a record 10,000,000 USDT, making WSOT not only the longest running competition of its kind in crypto, but also the most rewarding rendition by far. With 13 days remaining in the competition period of WSOT, over 70,000 participants have already unlocked more than 60% of the total pool as of Oct. 18.
Final registration for WSOT 2024 closes in two days. Sign up for crypto’s flagship trading competition for a chance to claim a share of the 10,000,000 USDT prize pool: WSOT 2024.
#Bybit / #TheCryptoArk / #WSOT2024
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press
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View original content:https://www.prnewswire.co.uk/news-releases/race-to-the-top-bybit-adds-1-million-to-wsot-2024-prize-pool–final-days-to-register-302280264.html
H&M Foundation has announced a significant commitment of SEK7,500,000 (€660,000) to support Start Network’s disaster risk financing programme, Start Ready. This three-year commitment aims to strengthen the capacity of eight countries to anticipate, respond to, and recover from crises.
STOCKHOLM , Oct. 18, 2024 /PRNewswire/ — With climate as a strategic focus, the H&M Foundation’s mission is to support the textile industry in halving its greenhouse gas emissions every decade reaching net-zero by 2050 in a just and fair transition. However, there are also urgent climate related challenges such as climate disasters, that require urgent action. Over the years, climate related disasters have increased. Evidence suggests that around 55% of humanitarian funding goes to climate related crises but only 1% of this funding is organised in advance – despite this being a much more effective way of tackling these crises.
Targeting anticipatory measures in climate driven disasters can prevent or ease emergency catastrophes. That is why H&M Foundation now partnered up with Start Network, a global network of more than 100 organisations working together to shift from reactive crisis response to proactive early action, to support their financing mechanism Start Ready. Through Start Ready, funds are prepositioned for crises that happen with regular and predictable patterns of recurrence, like floods, droughts, and heatwaves. Start Ready protects an average of 700,000 people across eight countries annually. This partnership will enhance the capacity and coverage of current hazard preparedness systems in these countries.
Anna Gedda, CEO of H&M Foundation, hopes that this partnership can inspire other funders to invest more in preventive work: “Proactive measures are essential to prepare for, respond to, and recover from catastrophic events. We believe preventive funding can make a significant difference and ensure a safer future for all. We are proud to support Start Network in their vital efforts to prevent and mitigate the negative effects of disasters.”
H&M Foundation is privately funded by the Stefan Persson family, founders and main owners of the H&M Group. We use philanthropic resources to find, fund and facilitate disruptive innovations, initiatives and research that enable a socially inclusive and planet positive textile industry. To accelerate the transformation, we take on a holistic and open approach – bringing diverse partners together to co-create, and to share learnings and solutions. The H&M Foundation can also provide emergency relief. For more information visit hmfoundation.com.
CONTACT: Jasmina Sofić, Media Relations Responsible, +4673 465 59 59
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View original content:https://www.prnewswire.co.uk/news-releases/hm-foundation—tackling-urgent-challenges-with-anticipatory-funding-302280287.html
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