Category: 1bn
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Aston Martin poised for £1bn Verstappen coup in F1 power play
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Aston Martin appears to be planning a record £1bn deal to lure Max Verstappen away from Red Bull, signaling an unusual shift in Formula 1’s financial landscape. Several industry insiders suggest that Jefferson Slack, Aston Martin’s managing director (commercial and marketing), has been hinting to potential sponsors that the four-time…
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Community lenders unlock £1bn to support small firms rejected by banks
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Small businesses in some of Britain’s most deprived areas are expected to benefit from £1bn in loans, thanks to a government-backed initiative by community finance organisations. The British Business Bank (BBB) has launched a £150 million, two-year plan to support community development finance institutions (CDFIs), which lend to businesses turned…
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Natwest buys back £1bn in shares from Treasury as government stake drops to 11%
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NatWest has bought £1bn of its own shares from the UK Treasury, reducing the government’s stake in the FTSE 100 lender to just over 11%. This buyback, the second of its kind in 2024, saw NatWest acquire 263 million shares at 380.8p per share, a move chief executive Paul Thwaite…
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Onlyfans’ Ukrainian-born owner Radvinsky reaps £1bn from adult content platform
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OnlyFans, a subscription-based site known for its adult content, has paid out £1bn to its Ukrainian-born owner, Leonid Radvinsky, since he took over the company six years ago. The British platform’s parent company, Phoenix International, announced a record dividend of $472 million (£358 million) last year, contributing to the large…
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Non-dom tax reforms could cost labour £1bn, warns Oxford Economics
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Labour’s plan to reform the tax system on foreigners could cost the UK government up to £1bn as wealthy individuals flee the country, a report by Oxford Economics has warned. The proposed reforms, which will come into effect from April 2025, aim to replace the current system that allows non-residents…