Vodafone transfers shares in Egypt arm as it simplifies core business December 13, 2022 Vodafone transferred over half of its shareholding in its Egypt business to Vodacom, its African subsidiary, as it simplifies the core business. Under the agreement, the telecoms giant has been issued with 242 million shares in Vodacom and received cash proceeds of €577m in exchange for its 55 per cent shareholding in Vodafone Egypt. Acting [...]
Premier League: Bournemouth is latest club to be bought out by a US businessman December 13, 2022 Premier League strugglers Bournemouth have been bought out by a US-led consortium including actor Michael B Jordan. Owner Maxim Demin has sold his 100 per cent stake in the firm to Black Knight Football Club (BNFC), managed by American businessman Bill Foley. The bid also has a number of high profile backers, including award-winning actor, [...]
China crafts £116bn chips support package as it tackles US curbs with WTO December 13, 2022 China is reportedly crafting a $143bn (£116.5bn) package to support its semiconductor industry, as it tackles new US trading curbs with the World Trade Organisation (WTO). The package would be a major pillar in sustaining its chips sector, which is currently fielding attempts from the US to slow its technological advances. Beijing plans to roll [...]
Amazon delays graduate joiners amid cost cuts December 13, 2022 Amazon has delayed graduate recruitment dates as the e-commerce giant attempts to slim down costs. Students who were due to start in May 2023 have been told they cannot join the US firm until the end of next year, due to the “macroeconomic environment”. The firm has however offered a one-off payment of $13,000 to [...]
Conviction Life Science pushes back IPO deadline as winter investment freezes December 13, 2022 Investment manager Conviction Life Science has pushed back the funding deadline for its London float into the new year, as investors hibernate for the Christmas period. The soon-to-be listed fund said it wanted to extend its book-building period after seeing many large professional investors close their books and shelve new potential investments until the new [...]
Decade high 400k working days lost to strike action in October December 13, 2022 Over 400,000 working days were lost to strikes in October, the highest since November 2011, official figures from the Office for National Statistics out today reveal. Britain has been hit with a wave of industrial action by railway, postal and health workers sparked by pay and working conditions disputes. Working days lost to staff walk [...]
Dealmaker’s Spotlight: Picus Capital December 13, 2022 | City Talk Datasite recently spoke with Joanna Koczuk, Head of Investor Relations and Fundraising at Picus Capital, who shared her thoughts on creating long-term value in the VC space, even in current challenging environment. Picus Capital is a global venture capital firm and invests in early-stage technology companies. At the heart of its investment philosophy is being [...]
Nairobi expat community puzzled by missing Brit found four days later drinking ‘keg’ in local slum bar December 13, 2022 There is widespread disbelief and somewhat bemusement among expats and locals in the Kenyan capital of Nairobi, after a British national went missing but was found four days later drinking in a slum bar on the city’s outskirts. Last Tuesday, friends of 22-year old Nelson Newbery, originally from London, sounded the alarm after the young [...]
Royal Navy contracts bump up revenues for outsourcing giant Capita December 13, 2022 Outsourcing firm Capita said its contracts with the Royal Navy had bumped up revenues in the past 11 months and it had slashed its debt levels by offloading areas of the business, as it updated the market on the year’s trading.
FinnCap swings to loss as London floats dry up December 13, 2022 FinnCap said revenues had plunged 48 per cent in the first half of the year as a slump in capital markets activity hammers profits for the City’s brokers and investment banks. In its half-year results this morning, the London-listed financial services group said it had swung to a £2.59m loss in the first six months, [...]