‘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 [...]
Adios Amigo? Lender set to wind down after failing to raise £15m survival cash March 23, 2023 Controversial lender Amigo loans is set to be wound down after failing to raise cash as part of an emergency turnaround plan.
UK ‘unicorn’ creation plummets as tech venture capital dries up March 23, 2023 The creation of so-called unicorns in the UK’s tech sector slowed by more than ten times last year as venture capital dried up and companies reined in their valuations to raise cash, new data has revealed.
Who’s going loco over Credit Suisse’s cocos? Here are the losers of the AT1 bond write-off March 22, 2023 Bond markets were sent into a spin across Europe this week after the move from Swiss regulator Finma to wipe out $17bn of Credit Suisse’s AT1, or coco, bonds, as part of a rescue deal from its rival UBS.
Muddy Waters chief slams EU regulators for short selling ‘overreach’ March 22, 2023 The founder of famed short seller Muddy Waters has slammed European rulemakers for “regulatory overreach” today and said the EU’s anti-short seller position was distorting markets.
L&G boss slams pension funds’ slide away from UK markets March 21, 2023 The chief of Legal & General has slammed a slide in pension funds' equity holdings today as calls grow for the City’s top institutional investors to back the UK stock market.
Another British tech firm opts for a New York listing as UK’s science superpower dreams fade March 21, 2023 A Cheshire biotech start-up led by a former NHS doctor has floated in New York today after snubbing London’s market due to a dearth of specialised investors. Zura Bio, led by Oxford graduate Dr Someit Sidhu, announced it had merged with special purpose acquisition company (SPAC) JATT acquisition corp this morning in a deal that [...]
Scottish Mortgage Investment Trust chair quits after boardroom bust-up March 21, 2023 The chair of the Scottish Mortgage Investment Trust has stepped down today after a public bust up with one of the firm’s directors over alleged “procedural violations” in its investment practice.
UBS and Credit Suisse face legal threats after bond wipeout and shareholder bypass March 20, 2023 UBS and Credit Suisse are facing potential legal action from investors after the controversial tie-up between the two banks bypassed a vote by shareholders and wiped out $17bn of Credit Suisse bonds.
Firms which fail to improve ESG performance will face action, FCA warns March 20, 2023 Companies creating benchmarks to measure environmental, social and governance (ESG) performance will be hit with enforcement action if they fail to improve their “poor” performance, the Financial Conduct Authority (FCA) warned today. The City watchdog has been tightening rules around ESG claims and is set to roll out a host of new measures this year [...]