Exclusive: London beats European cities to continental tech crown November 22, 2022 London is the most technologically advanced city in Europe, beating Paris, Frankfurt and Madrid, exclusive research shared with City A.M. unveils. The capital’s capacity for world class innovation drove it to the top of the continental rankings in Z/Yen’s sixth smart cities index. New York topped the global rankings, again. The Square Mile’s banks, brokers [...]
Oil markets endure rollercoaster ride as OPEC rejects reports of production hike November 21, 2022 Oil prices whipsawed in today’s trading, before settling near this morning’s initial prices on both major benchmarks. Prices dipped to their lowest since early January, before rebounding as reports varied over whether Saudi Arabia and other OPEC oil producers are considering a half-million barrel daily output increase. Brent Crude and WTI Crude prices both plummeted [...]
Shell weighs up £25bn UK spending pledge after Hunt toughens windfall tax November 21, 2022 Shell has warned it could ditch its pledge to invest £25bn in the UK’s energy sector, after the windfall tax was toughened up last week.
Facebook owner Meta sued for selling personal data for ads November 21, 2022 Facebook owner Meta has been sued in the high court after claims that it disregarded the right to object against the collection of personal data to sell to advertisers. Human rights advocate Tanya O’Carroll alleges that the Silicon Valley giant has breached UK data laws by failing to respect her right to demand that it [...]
Free market think tanks back solar projects as Government considers clampdown November 21, 2022 Two of the UK's leading free market think tanks have raised concerns over the potential tightening of solar power planning rules.
Sir Martin Sorrell’s venture fund backs US digital asset management firm November 21, 2022 A venture capital fund backed by Sir Martin Sorrell revealed its first public investment in a US digital asset management platform this morning. In a statement, S4S Ventures announced that it had co-led a $10m Series B investment round alongside Bertelsmann’s BDMI for Tenovos, a New York based software-as-a-service provider. Tenovos helps clients streamline and [...]
Bitcoin tumbles below £13,500 as FTX turmoil continues November 21, 2022 Bitcoin has plunged below $16,000 (£13, 566) dollars today as investors flee to steadier ground amid turmoil sparked by the collapse of crypto exchange FTX.
Merck inks £1.1bn deal for cancer drug developer Imago November 21, 2022 American pharmaceutical giant Merck has today inked a $1.35bn (£1.14bn) deal for cancer drug developer Imago BioSciences. The offer of $36 (£30.4bn) a share represents a nearly 107 per cent premium on the company’s last closing price. The deal is intended to bolster Merck’s portfolio of blood disorder treatments, with onlookers expecting the company’s blockbuster [...]
National Grid: Is it ready for the green revolution? November 21, 2022 National Grid faces vast challenges to ensure the UK's energy network is ready for a vast influx of renewable power, writes Nicholas Earl.
Molten Ventures slumps to first half loss as tech downturn hits November 21, 2022 Listed venture capital investor Molten Ventures has slumped to a loss in the first half of its financial year after its tech investments were battered by a downturn on the markets.