Amigo survival options ‘diminish significantly’ as lender scrambles to raise £45m emergency cash March 8, 2023 Beleaguered lender Amigo said its survival options had “diminished significantly” today as it updated on efforts to raise £45m in a bruising meeting with shareholders.
Female tech founders bag £3.6bn despite wider investment slump March 8, 2023 Venture capital investment into tech firms founded by women jumped last year despite soaring inflation and volatility sparking a slowdown in funding across the sector, new figures reveal. Female founders shrugged off the downturn that hit the UK’s tech sector last year and bagged some £3.6bn of VC, up from £2.9bn the previous year, according [...]
UK commits £76m of dormant assets to tackle cost of living crisis March 7, 2023 The government has committed £76m of dormant assets to go towards tackling the cost of living crisis as it seeks to unlock over £800m for community funding over the next few years. The Department for Culture, Media and Sport (DCMS) confirmed today that an initial £76m will be distributed to 69,000 people under the Dormant [...]
Apollo makes another takeover swoop for Wood Group March 7, 2023 Shares in energy and consulting firm Wood Group surged today after it revealed a £1.6bn takeover swoop from US buyout giant Apollo, its fourth bid for the firm. The London-listed engineering and energy consulting firm, which has rejected the three previous cash offers on the grounds they undervalued the firm, said it was set to [...]
London’s capital markets woes deepen as WANdisco eyes New York March 6, 2023 London’s ambitions to elevate its capital markets on the international stage were dealt a fresh blow today as data firm Wandisco became the latest UK tech outfit to reveal it was eyeing a New York listing. In a statement this morning, the AIM-listed firm said it was in the “early stages” of scoping out a [...]
Home REIT rent troubles deepen as two major tenants go bankrupt March 6, 2023 Beleaguered social housing investor Home REIT revealed that two of its tenants had gone into administration this morning, effectively shutting off another 18 per cent of its annual rent roll.
Exclusive: Tech chiefs look to win over pension funds on UK ‘sovereign wealth fund’ plans March 6, 2023 Tech and fintech industry chiefs have met with some of the City’s top pension funds as part of plans to create a UK “sovereign wealth fund” that could help unleash a wave of funding into the UK’s tech startups, City A.M. can reveal.
Exclusive: Home REIT and property vendor urged tenants to ‘corroborate’ sustainability claims as part of ESG ‘box ticking’ March 6, 2023 Home REIT and a property dealmaker urged the firm’s tenants to “corroborate” dubious sustainability claims as part of an environmental, social and governance (ESG) “box ticking exercise”, City A.M. can reveal. Gareth Jones, a partner at the beleaguered social housing firm’s former investment adviser Alvarium, told property vendor Christopher Downing in August to ensure that [...]
“How not to do it”: Tech chiefs slam Sunak and Johnson over Arm listing failure March 5, 2023 The government has come under fire for a failed attempt to woo British chipmaking giant Arm into listing in London after the Cambridge-based firm confirmed it would float in New York on Friday. The move from Arm has dealt a major blow to the UK’s efforts to promote itself as a premier listing hub and [...]
M&G set to be quizzed on takeover as Square Mile rumours swirl March 5, 2023 Bosses at asset management and insurance giant M&G are set to be quizzed by investors over a potential takeover swoop from Australian financial services Macquarie this week, as the firm updates the City with its full year results on Thursday. The update will mark chief executive Andrea Rossi’s first update at the helm of the [...]