Brexit: EU finance lobby calls for extension to UK clearing house access : CityAM September 16, 2021 A trio of major lobby groups for Europe’s financial services sector have called on Brussels to extend the EU’s access to London clearing houses amid warnings of financial instability. The groups wrote to the European Commission today, warning “there is a significant risk of market disruption for EU clearing members and their clients” if the [...]
Polychain Capital leads $230m investment round in Avalanche – CityAM : CityAM September 16, 2021 Polychain and Three Arrows Capital have led a $230m investment round in the Avalanche network, buying up the company’s native crypto currency AVAX. R/Crypto Fund, Dragonfly and CMS Holdings were also among investors who bet big on Avalanche, an ultra fast, eco-friendly blockchain protocol which supports a growing ecosystem of DeFi projects. Proceeds from the sale [...]
City hiring spree: Financial services sector’s recruitment plans to break records this autumn September 16, 2021 Employers in London have ambitious plans to increase their headcount as they enter the fourth quarter, according to new research shared with City A.M. this morning. Even though London’ outlook was the lowest of all regions in the fourth quarter of last year, at minus 13 per cent, businesses in the capital now have one [...]
Piers Morgan set to join new Murdoch-backed TV channel – CityAM : CityAM September 16, 2021 Piers Morgan will join News Corp and Fox News Media for the launch of its new channel early next year after signing a global deal, according to reports. The new channel, touted as a “global TV show”, will air in the UK, the US and Australia on weeknights and cover a wide range of genres, [...]
Chinese Uber rival Didi’s users drop by 30 per cent after US IPO saga – CityAM : CityAM September 16, 2021 Chinese ride-hailing giant Didi has lost 30 per cent of its app’s daily users since its $4.4bn IPO in New York at the end of June, in the latest blow to the company following Beijing’s harsh regulatory crackdown for an alleged data breach. Didi’s average daily users plunged to 10.9m in August from 15.6m in [...]
Goldman Sachs’ CityFibre rallies £1.1bn in bid to muscle in on BT’s market share – CityAM : CityAM September 16, 2021 Challenger broadband firm CityFibre has rallied £1.1bn in fresh capital in its bid to muscle in on BT’s market share. The London-based company has sold off its £825m stake to Interogo Holdings, the Swiss-based firm that bankrolls Ikea and Abu Dhabi sovereign wealth fund Mubadala, according to The Telegraph. The figure also includes a £300m [...]
‘Zoom boom’ leads to more liposuction, Botox, Brazilian butts and facelifts – CityAM : CityAM September 16, 2021 A plastic surgery boom that started during lockdown is not expected to slow down as workers continue to use video calling platforms such as Zoom and Skype, experts have told City A.M. Everything from breast augmentation and rhinoplasty to Botox injections and facelifts. cosmetic procedures have risen at an astounding rate since the start of [...]
Boris Johnson prepares to announce new ministers in day two of reshuffle : CityAM September 16, 2021 Boris Johnson will today announce a swathe of ministerial appointments in day two of his reshuffle, with Penny Mordaunt this morning being moved into a new role as trade minister. Johnson will fill dozens of ministerial roles that sit under the secretary of state in each department, after a dramatic day of changes in the [...]
Hong Kong Covid-19 testing firm Prenetics set to float in US with SPAC deal – CityAM : CityAM September 16, 2021 Rapid Covid-19 testing developer Prenetics is set to merge with blank-check firm Artisan Acquisition in a SPAC deal that will take it public. Alibaba-backed Prenetics, a Hong Kong based firm valued at $1.25bn, is looking to list on the US’ Nasdaq as a freshly combined firm by the end of the year or the beginning [...]
Bitcoin edges closer to $50k as Ethereum’s Vitalik Buterin makes Time September 16, 2021 Bitcoin is back above $48k again this morning, as bulls eye another chance to creep over the psychologically-important $50k mark.