These two stocks have DOUBLED since I tipped them. Here are two more British firms you should invest in before they soar, reveals our money guru
The Lionesses roared to victory in Europe, the British and Irish Lions dominated the Australia rugby test series and the International Monetary Fund says the UK will be the G7 's third fastest growing economy this year and next.
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The Guardian
25 minutes ago
- The Guardian
UK's services sector has biggest fall in orders for nearly three years
The UK's dominant service sector has reported its biggest drop in new orders in almost three years in July, adding to pressure on the Bank of England to cut interest rates on Thursday. Sounding the alarm over a loss of momentum amid a worsening global economic backdrop, the data provider S&P Global Market Intelligence said total new work in the sector, which accounts for about 80% of the economy, eased to the slowest pace since November 2022. The survey of 650 companies in the sector, which includes finance, IT, communications and property but excludes retail, is closely watched by the Bank and the government for early warning signs from the economy. Threadneedle Street is widely expected to cut borrowing costs at its next policy meeting on Thursday from the current level of 4.25% amid growing concerns about the strength of the economy. Financial markets put the odds of a quarter-point reduction at 95%, amid rising unemployment and the hit to global trade from Donald Trump's fresh round of import tariffs unleashed last week. Tim Moore, economics director at S&P Global Market Intelligence, said: 'Risk aversion and low confidence among clients were the main reasons provided for sluggish sales pipelines, alongside an unfavourable global economic backdrop.' The survey showed that subdued sales pipelines and concerns about the rising cost of doing business led to an accelerated pace of job shedding, continuing a downward trend in employers' hiring intentions. The headline purchasing managers' index for the services sector dropped to 51.8 in July, from 52.8 in June. A reading of 50.0 separates growth in output from a fall in activity. Highlighting weakness in the UK jobs market, the employment index fell to 45.6 from 47.0, the lowest reading since February. Moore said: 'Hiring trends were especially subdued, with total workforce numbers decreasing to the greatest extent since February. Worries about rising payroll costs were cited as the main factor holding back recruitment.' Business leaders have issuing warnings that measures in Rachel Reeves's first autumn budget, including a £25bn rise in employer national insurance contributions (NICs) and 6.7% increase in the minimum wage, would hit jobs and growth. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion Official figures show that unemployment rose to a four-year high of 4.7% in the three months to May, while the economy shrank in both April and May. Matt Swannell, chief economic adviser to the EY Item Club, said it was 'almost certain' that the Bank's monetary policy committee would cut interest rates on Thursday. 'With the MPC balancing signs of fragility in the labour market against evidence of lingering inflationary pressure, the committee will likely signal that further gradual interest rate cuts remain appropriate.'
Finextra
26 minutes ago
- Finextra
Software Circle acquires Irish AI fintech
Software Circle plc (AIM: SFT) is pleased to announce that it has acquired approximately 95% of the issued share capital of Artificial Intelligence Finance Limited. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. AIF provides software to mortgage and insurance brokers and lenders in Ireland. The total consideration of up to €9.0m will be satisfied in cash and is structured on a debt free/cash free basis. The acquisition is expected to be cash flow generative and earnings enhancing in the first year after acquisition. The initial consideration paid at completion was €4.33m, with deferred consideration of €0.67m to be paid on the first anniversary of completion. Up to a further €4.0m is payable to acquire the remaining approximately 5% of AIF's share capital, contingent upon the achievement of certain targets relating to the future financial performance of AIF (the "Earn-out"). Further information on the terms of the acquisition is set out below. About AIF AIF's Online Application platform was first developed in 2006 by Karl Deeter (a mortgage broker) after he saw the need for a cloud-based mortgage platform for his own brokerage company and others in Ireland. Since AIF's incorporation in 2020 and the acquisition of Money Advice in 2024, the company has become the leading software supplier to brokers and lenders in Ireland. AIF and its subsidiary, Lunar Technologies Limited, provide services to insurance and mortgage brokers as well as to lenders and insurers via a suite of products, OA Mortgage, OA Life + CRM, OA Lender and OA Insurer. Due to the breadth of functionality provided by Online Application, the business continues to experience strong growth and enjoys very strong customer reviews (G2 4.7/5). The platform integrates with leading financial institutions and life insurance providers. The vendors are majority shareholder and founder Karl Deeter (CEO), Enterprise Ireland and other minority shareholders (the "Vendors"). Karl Deeter will remain with the company post completion leading the business on a day-to-day basis. The unaudited combined proforma financial statements for AIF and its subsidiaries for the year ended 30 December 2023 together reported revenue of €2.2m, EBIT of (€0.01m) and closing net liabilities of €0.57m. After adjustments our valuation is based upon an expected EBIT of approximately €0.7m. Terms of the Acquisition The initial consideration of €4.33m was funded from existing Software Circle cash reserves. The deferred consideration of €0.67m and Earn‐out, if payable, of up to €4.0m, will be satisfied in cash. The Earn-out, payable to acquire the remaining approximately 5% of AIF's share capital, is dependent on AIF achieving certain earnings targets for calendar years 2026 and 2027. The Earn-out is subject to a put and call option agreement between the Company and the Vendors which will be exercised following the end of calendar year 2027 once the calculation of the Earn-out has taken place. Gavin Cockerill, CEO said: "Karl and his team have built a remarkable business and we're proud he chose Software Circle as the new permanent home for AIF. Together we plan to build on their momentum and solidify Online Application as the number one platform in its field. AIF fits squarely within our acquisition strategy - high recurring revenue, sticky vertical software, and a leadership team that shares our values and drive for success. This is a further example of our capital being invested into a business capable of delivering sustainable returns and, with Karl, one where we see a clear opportunity to expand its market presence." Karl Deeter commented: "We are really pleased to find a forever home with Software Circle whose strategy of acquiring and building software companies like ours is well established. We believe they will help bring the company to an even higher level of achievement, which in our case is about enabling brokers to be the number one delivery channel for digital financial services, and to be the number one firm in that space. The support from our initial investors and Enterprise Ireland has been great and this deal rewards that trust and investment. Our full team will remain in place, and for our customers it will be business as usual but with the added advantage of having a PLC owner who will help us deliver even more to our clients while moving us out of the 'start-up' space so we can tackle bigger opportunities." Outlook Our strategy remains focused on identifying and acquiring businesses that align with our criteria. Further strengthening our portfolio and driving sustainable growth. We are committed to maintaining our disciplined approach to acquisitions, ensuring that each addition is aligned with our culture, enhances our overall value proposition, supports our long-term objectives and maximises Operating Cash Flow Per Share. The Group has a current cash balance of approximately £4.0m and an available debt facility of £10m. Our M&A pipeline remains h
The Independent
26 minutes ago
- The Independent
The ‘worrying trend' that puts you at risk of identity fraud
Fraud prevention service Cifas has identified a "worrying trend" of individuals selling their own identities, often for promised financial opportunities. This practice leaves people vulnerable to criminals taking out loans or credit in their name, leading to significant personal debt. Cifas's latest Fraudscape report revealed over 118,000 suspected identity fraud cases between January and June 2025, with AI significantly exacerbating the threat through synthetic identities and fabricated profiles. The report also highlighted a rise in employee fraud, including individuals concealing background information and engaging in "polygamous working" or using fraudulent references. Cifas CEO Mike Haley described fraud as a "national emergency" supercharged by AI, urging urgent, coordinated cross-sector collaboration to combat the evolving threat.
