CITY WHISPERS: Why not practise what you preach, Revolut!

Financial ‘super app’ Revolut has been trumpeting a launch of an updated version of its software.

The firm’s head of retail, Ivan Chalov, said the Revolut 10 update – designed to get customers to make it their main account – would let its 35 million users ‘get a clear view of their money in one place’.

It’s a shame Revolut 10 wasn’t around when the firm was preparing its most recent figures, where it admitted it couldn’t tell where exactly some of its revenues had come from. 

‘Clear view of their money’: Financial ‘super app’ Revolut has been trumpeting a launch of an updated version of its software

Perhaps a clearer view is still needed, as the group has requested an extension to the deadline for filing its annual accounts on Companies House.

This comes after the last set of results were delayed.

The firm is still waiting for a UK banking licence, which on March 1 then-finance boss Mikko Salovaaro said was due ‘imminently’.

We make it 228 days and counting since those comments. Super indeed.

Cannabinoid company Cellular Goods to farm kelp

Victoria Beckham is a lover of seafood and has reportedly used seaweed to stay slim. 

One wonders if this was a factor behind a decision last week by Cellular Goods, an AIM-listed firm backed by her husband David’s investment group DB Ventures. 

The firm is moving into farming kelp, a type of seaweed touted for its health benefits. 

To some in the City it seemed like a departure for a business set up to focus on cannabinoid products. 

There’s still time for Victoria to become Briny Spice…

No time to discuss pension losses at annual gathering 

There’s quite the line-up of speakers at this week’s Pensions and Lifetime Savings Association’s annual gathering in Manchester. They include right-on economist Noreena Hertz, social historian Dominic Sandbrook and City Minister Andrew Griffith.

The last meeting was at the height of the pensions crisis, when the Bank of England bailed out the industry to the tune of £19 billion.

No such drama is predicted this time round, with the most gripping sessions titled ‘understanding the benefits of uncorrelated assets in portfolios’ and ‘the future of investment governance’.

But it seems odd there is no time set aside to discuss the inconvenient fact that members have lost £626 billion – a third of scheme assets – in just over a year.

Talk about an elephant in the room.

Capital Metals gloats over axe for Sri Lankan minister 

Company bosses usually like to stay out of politics. But executives at AIM-listed Capital Metals couldn’t help gloating a little when a troublesome environment minister was given the boot by the Sri Lankan government.

Capital said Naseer Ahamad, who has been at the centre of a legal row over cancelling the firm’s mining licences, had been expelled from parliament and so had lost his post.

The firm hailed the move as ‘positive’ and accused Ahamad of ‘illegal interference’ with its licences.

A trebling of the share price after the announcement will surely help the board get over it.

                                                                            Contributors: Patrick Tooher, Francesca Washtell 

This post first appeared on Dailymail.co.uk