Third Point slumps as growth firms drag investment titan down September 12, 2022 London-listed investment vehicle Third Point Investors suffered a 22.6 per cent plunge in the value of its assets in the first half of the year as it weathered “one of the most challenging” periods it has faced. In a trading update today, the firm run by notorious activist investor Daniel Loeb said turbulence had caused [...]
Keep momentum behind capital markets reform, Kalifa tells PM September 12, 2022 Ministers must keep the “continuity” and “momentum” behind capital markets reform in order to cement the UK’s standing as a global financial powerhouse, the author of a major government-commissioned review of fintech has warned.
What can Sunak-friendly fintech expect under Truss? September 12, 2022 Some fintech bosses are reconsidering what a Truss leadership may mean for the sector.
UK fintech investment tumbles as inflation rocks markets September 12, 2022 UK fintech investment plunged in the first half of 2022 as war in Ukraine and soaring inflation brought last year’s funding frenzy to a sharp close, new figures have revealed today.
Bank scandal victims must be informed of compensation deadline, campaigners say September 11, 2022 The banks at the centre of a multi-billion-pound mis-selling scandal should be forced to inform their victims of an approaching deadline to receive compensation, the Transparency Task Force (TTF) has told MPs. Victims of the interest rate hedging product (IRHP) scandal should be informed they must file any complaints to the UK’s Financial Conduct Authority [...]
Retail tycoon Mike Ashley joins the race for Savile Row tailor September 11, 2022 High-street tycoon Mike Ashley has reportedly joined the race to takeover Savile Row tailor Gieves & Hawkes. As first reported by Mark Kleinman for Sky News, Ashley’s Frasers Group – previously known as Sports Direct International- is now the latest bidder to join the grab for the 250-year-old Savile Row brand. It comes as Gieves [...]
Lenders prop up Cineworld with £680m cash injection September 10, 2022 Cineworld has secured $785m (£677.4m) from existing lenders, who have sought to prop up the ailing retailer. The cinema chain officially filed for bankruptcy in the US earlier this week, having announced last month that it was voluntarily seeking a Chapter 11 bankruptcy filing, sending shares down 25 per cent. The company, which operates 747 cinemas [...]
Market wrap: London stays open and sees shares and pound rise September 9, 2022 Markets in London traded as usual on Friday, and saw shares and the pound trade higher. The London Stock Exchange confirmed that it planned to maintain normal opening hours after the death of the Queen, but would close during any public holidays. The FTSE 100 joined an international rally, which saw global markets break out [...]
City Moves: Who’s switching jobs in the Square Mile? September 9, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Verdane Specialist growth equity investment firm Verdane has hired an M&A veteran as partner into its London office. Helena Svancar, who joins the investment team, was previously head of M&A at Swedish telecoms and technology heavyweight Ericsson. The [...]
UK chips strategy must lure investment, says Dell executive September 9, 2022 The UK’s semiconductor strategy must make the country a more attractive destination for investment, a Dell executive has told City A.M. “We would like a business friendly, technology friendly environment, where it’s easier for us to invest more and its easy for us to see opportunities for us to make a positive difference,” Adrian McDonald, president for Europe, [...]