Cabot Credit Management ditches £1bn float citing poor UK market conditions November 16, 2017 Cabot Credit Management, Britain’s biggest debt collector, abandoned plans to float yesterday, one in a series of ditched IPOs in recent months. In a statement, Cabot said that current conditions in the IPO market meant it would not be following through on the £1bn float. “The high level of engagement and interest that we received [...]
Unaoil bribery probe: Serious Fraud Office (SFO) charges Ziad Akle and Basil Al Jarah in Unaoil investigation November 16, 2017 The UK’s Serious Fraud Office (SFO) today charged two people amid an ongoing investigation into Monaco-based oil firm Unaoil. Ziad Akle and Basil Al Jarah were both charged by requisition with conspiracy to make corrupt payments to secure contracts in Iraq to Unaoil’s client SBM Offshore between June 2005 and August 2011. Akle was Unaoil’s [...]
Disruptive law firm Keystone reveals £50m float plans November 16, 2017 Disruptive law firm Keystone today announced plans for a £50m float to boost its brand and enhance growth prospects. Founded in 2002, Keystone was one of the first so-called “platform” firms. The company sits as an umbrella, allowing smaller firms to operate out of their own offices but under Keystone’s brand. Lawyers do not receive [...]
Spotify’s the latest tech giant to invest in London November 16, 2017 Spotify is the latest tech company to commit to London after Brexit with fresh expansion plans. The streaming giant which is expected to soon go public, will double its current 200 staff in the UK over the next two years with a major focus on research and development. The capital will become a “major hub” [...]
More than 100 MPs demand PM backs down over student migrant cap November 16, 2017 More than 100 MPs from all parties have written to the Prime Minister urging her to drop for “illogicial decision” to maintain international students in the net inward migration target. A letter written by Labour MP Catherine West and signed by MPs from the Conservatives, Liberal Democrats, DUP, SNP, Plaid Cymru and the Green Party, [...]
Nearly 45,000 UK drivers have teamed up for legal action against Volkswagen over emissions scandal with hearing set for 27 November November 16, 2017 Nearly 45,000 motorists have now teamed up in a class action lawsuit against Volkswagen in England and Wales, with a pre-trial hearing scheduled for later this month. The consumer group has announced today that the next hearing in the UK legal action against VW will take place in the High Court on Monday 27 November. [...]
Investec profits up despite political clouds in the UK and South Africa November 16, 2017 Financial services firm Investec reported increased profits today as funds under management rose, in spite of political uncertainty in its two main markets, the UK and South Africa. Statutory operating profits rose by 11.8 per cent year-on-year in the first half of its financial year, although that represented a rise of 1.1 per cent on [...]
Crossrail latest: Elizabeth Line train rollout stalls on Liverpool Street to Shenfield route November 16, 2017 Progress on the rollout of the first Elizabeth Line trains has stalled, with Transport for London (TfL) pushing back a target to have 11 trains in passenger service by the autumn. The intention was to roll out 11 trains on the Liverpool Street to Shenfield route, currently operating as TfL Rail by September, but TfL [...]
Uber licence appeal could take years, says London mayor Sadiq Khan November 16, 2017 Uber’s appeal against a decision not to renew its licence in the capital is likely to go on for years, the Mayor of London Sadiq Khan has said. “My understanding is that it could go on for a number of years,” said Khan, speaking at Mayor’s Question Time on Thursday morning. Read more: Uber’s targeting [...]
A third of tech startups have lost potential foreign hires because of Brexit November 16, 2017 Brexit is beginning to bite for tech startups, with a third of innovative firms saying they have lost a potential hire from outside the UK. It comes just a day after the Prime Minister Theresa May promised an additional 1,000 visas for talented tech workers from outside the EU. The new research comes from Tech [...]