FCA boss pledges to review listing rules to avoid another Arm snub March 29, 2023 The chief of the Financial Conduct Authority has pledged to review the UK's listing rules after several British firms ditched the City and opted for New York listings.
‘Sink or swim’: Delayed update leaves UK’s £4bn open banking sector in limbo at critical moment March 29, 2023 The UK’s £4bn open banking sector faces a “sink or swim moment” as the industry awaits a crucial update on the future of the industry in the coming weeks, a lobby group has warned. Open banking, which was first rolled out by regulators in 2017 to force dominant high street lenders to open up their [...]
FTX: Bankman-Fried charged with paying $40m Chinese bribe March 29, 2023 U.S. prosecutors on Tuesday unveiled a new indictment against Sam Bankman-Fried, accusing the founder of the now-bankrupt FTX cryptocurrency exchange of paying a $40 million bribe to Chinese officials so they would unfreeze his hedge fund's accounts.
Scottish Widows using pension power to fight climate change in £1.4bn green fund launch March 29, 2023 Pension giant Scottish Widows has launched £1.4bn worth of new green funds today which it said will inject into companies “helping to resolve nature and climate issues”.
Start-up apocalypse? Cash crunch could wipe out venture-backed firms this year, Morgan Stanley warns March 28, 2023 Start-ups backed by venture capital (VC) could be wiped out in droves this year as cash dries up and investors turn off the taps, analysts have warned.
How a £50bn pension super fund with an appetite for UK innovation could help make the City great again March 27, 2023 The UK’s pension funds should pool their assets in a £50bn ‘future growth fund’ or more firms will continue to shun London and list overseas, the Lord Mayor of London has warned today.
Exclusive: Home REIT’s biggest tenant dished out £1.2m to bosses before bankruptcy March 27, 2023 The three bosses of Home REIT’s now-bankrupt biggest tenant pocketed over £1.2m last year even as the firm struggled to pay rent and slumped to a multi-million-pound loss, City A.M. can reveal. Gurpaal Judge, the chief of Wolverhampton-based social housing provider Lotus Housing, hiked his own and two directors’ pay to £1.2m in 2022 – [...]
New $150m fund set to invest in ‘high-impact’ firms across food and healthcare March 27, 2023 Milltrust International is set to launch a new $150m fund focusing on ‘Sustainable Prosperity’ as it seeks to scale up health, food and sustainability companies in the UK and around the world. The British Innovation Fund II will target “high-impact, early stage companies” with links to the UK’s university sector. Sustainable prosperity is the idea [...]
Exclusive: Home REIT investors draw up plans for ‘landlord of last resort’ as tenants collapse March 24, 2023 Investors in beleaguered social housing investor Home REIT are drawing up plans for a ‘landlord of last resort’ as the firm’s cash dries up and its tenant base collapses, City A.M. has learned.
‘When markets are weak, that’s the time to strike’: FinnCap poised for deal offensive after Cenkos tie-up March 24, 2023 The boss of London-listed investment bank and brokerage FinnCap said the firm was gearing up for a deal offensive this year after announcing a £42m tie-up with rival Cenkos Securities yesterday. FinnCap is among a host of the City’s broking and advisory firms hit by a slowdown over the past 12 months as markets were [...]