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Todays news in brief – 26/09/2023

Interpath Advisory’s Alistair McAlinden and Chris Pole have been appointed as joint administrators of Recast Sports Limited. Recast is known for its subscription-free, live, and on-demand sports streaming platform. Despite securing funding commitments, cash flow issues led to the company’s decision to seek administration. Following Interpath’s appointment, the company’s 42 employees were made redundant.

PrimeGlobal, an association of independent accounting and business advisory firms, has signed a new three-year global agreement with Xero, earning Xero Global Partner status. The partnership provides member firms with educational and co-marketing opportunities, extended account management, and access to training and support. The collaboration aims to support best practices and industry trends sharing.

KPMG’s UK economic outlook has forecast a slowdown in UK growth, with GDP growth projected at 0.4% in 2023 and 0.3% in 2024. Factors contributing to this include the depletion of household excess savings, the impact of higher interest rates on investment, and inflation remaining above target. Global economic challenges, such as falling trade volumes and manufacturing retreat, could also affect the UK’s economic prospects.

Financial wellbeing startup Mintago has closed a $4.75m (£3.90m) funding round to support its UK expansion. Lead investor BlackLion Ventures, along with Love Ventures and Cur8 Capital, contributed to the funding. Mintago’s financial wellbeing platform offers solutions for employees, including pension management, debt counselling, savings tools, and financial education programs. The funding will be used to enhance the platform and expand the sales and marketing team to grow its client base.

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