Civitas agrees to ‘undervalued’ £485m takeover following wave of criticism from press and shortseller May 9, 2023 London-listed social housing investor Civitas revealed it had struck an “undervalued” deal to sell itself to a Hong Kong property giant today as it looks to escape a barrage of criticism from short sellers and the media.
Tesco chairman accused of inappropriate behaviour, Guardian reports May 9, 2023 The Tesco chairman John Allan has been accused of alleged inappropriate behaviour relating to four women, according to reports in the Guardian. Allan, the newspaper claims, allegedly touched the bottom of a senior female Tesco staff member in June 2022, at the firm’s annual general meeting (AGM). He also allegedly touched the bottom of a [...]
Regulator probes Deloitte over audit of fashion firm Joules May 9, 2023 The Financial Reporting Council has opened an investigation into the audit of embattled retailer Joules today after Deloitte signed off its accounts prior to the firm’s collapse last year.
Green push: Canary Wharf to get its own private windfarm May 9, 2023 Real estate titan Canary Wharf Group has teamed up with Brookfield, to support a new wind farm in the UK and procure clean energy.
Return to sender: Royal Mail boss ‘set to quit’ after bruising strike battle May 9, 2023 The embattled Simon Thompson's departure from Royal Mail could be announced as soon as this week, according to City sources
Morning in the City: News and market updates, live May 9, 2023 Good morning and welcome to City A.M.’s live blog as the Square Mile returns to work after the Coronation weekend.
City law firm tells junior partners to cough up £20,000-£42,000 each May 9, 2023 Junior partners at City law firm Withers will have to contribute up to £42,000 each in a newly announced cash call. The London-headquartered firm, which specialises in services for high-net worth individuals, said the decision was taken to allow junior partners to be “more fully involved” with the business. “We have asked junior equity partners [...]
City needs a whole ecosystem to attract the best and brightest May 9, 2023 Soft power success or waste of time and money? We’re more inclined to side with the Lord Mayor than some on Twitter when it comes to the weekend’s festivities. Clearly, the coronation was always going to kick off an almighty debate on the role of the Royal Family in the twenty-first century; but regardless of [...]
Square Mile veteran set to chair medical cannabis company May 8, 2023 Kanabo Group, which creates medical cannabis, is set to announce on Tuesday that Ian Mattioli will become its new non-executive chairman.
Warren Buffett: “Very poor” handling of bank failures in recent weeks May 7, 2023 Warren Buffett on Saturday criticized the handling of recent tumult in the banking sector and said a debt ceiling showdown could bring “turmoil” to the financial system, even as he offered a vote of confidence in the United States and his conglomerate Berkshire Hathaway Inc. Speaking at Berkshire’s annual shareholder meeting, Buffett criticized how politicians, regulators and [...]