Open banking body appoints former Mastercard and Natwest exec to top job January 23, 2023 The body charged with overseeing the rollout of open banking in the UK has appointed a former Natwest and Mastercard executive as its new chair, City A.M. can exclusively reveal, as the regime moves into its next phase of implementation. Marion King, a former director of Payments at Natwest Group and president of Mastercard UK [...]
Feared activist investor Elliott snaps up multi-billion dollar stake in Salesforce January 23, 2023 Activist investor Elliott Management has snapped up a multi-billion dollar stake in Salesforce as the software firm is rattled by a slowdown in growth and slashes its headcount. In a statement shared with City A.M. today, Elliott managing partner Jesse Cohn said Salesforce was “one of the preeminent software companies in the world” and Elliott [...]
Citadel: Hedge fund rakes in £13bn profits as it posts the highest annual gain in history January 23, 2023 Hedge fund Citadel made $16bn (£12.9bn) in profits for its clients last year as it bucked a wider slump across the market to post the highest annual gain in history, new data has revealed. The profits for Miami-based Citadel, which manages $54bn (£43bn) in assets, charged its clients around $12bn (£9.7bn) in expenses and performance [...]
Dignity’s shares rocket 8 per cent following £281m deal which would take funeral firm private January 23, 2023 Listed funeral firm Dignity is set to become a private company after striking a deal to sell itself to a group of investors at a valuation of £281m.
Veganuary: New £240m fake meat fund looks to disrupt and decarbonise the food industry January 23, 2023 Milltrust Ventures and Earth First Food Ventures are set to launch a new $300m (£242m) Smart Protein Fund tomorrow to back alternative proteins and decarbonise the food industry, City A.M. can reveal. Over $600m was invested in total in the cultivated meat sector last year, and the alternative protein market, which includes imitation meats [...]
Fintech Pensionbee buzzes towards profits after reporting boost in savers January 19, 2023 London-listed fintech PensionBee has doubled down on its prediction of profits this year after reporting a boost in customers and revenues in 2022.
Home REIT delays accounts again after rent trouble revelations January 19, 2023 Beleaguered property investor Home REIT has delayed the publication of its full-year accounts until beyond the end of January as it scrambles to get its books in order following revelations about the instability of its rental income and dilapidated property portfolio. Home REIT, which suspended trading on the London Stock Exchange after delaying its full [...]
AJ Bell shares tumble as inflows fall to under £1bn despite rise in customers January 19, 2023 Shares in trading firm AJ Bell slumped today as the firm said the flow of cash onto its platform dipped in the final three months of the year despite a rise in customers. In a trading update on the the first quarter of its financial year, the FTSE 250 firm said that inflows onto its [...]
Top investors hit back at FTSE 100 firms after claims of governance ‘box ticking’ January 18, 2023 A group of top investors has looked to shift blame onto FTSE 100 chiefs for a breakdown in the relationship between firms and their major shareholders today, after top chairs criticised investors’ approach to corporate governance last year. The Investor Forum, which represents investors holding more than £800bn worth of UK equities, has written to [...]
UK ‘cleantech’ firms set for funding boost amid net zero drive, KPMG predicts January 18, 2023 Venture capital investors are turning their gaze towards the UK’s so-called cleantech sector this year as net zero targets move closer, analysts from KPMG have predicted. Last year, global venture investment slumped by almost a third last year as soaring inflation and sharp rate hikes caused investors to turn off the taps following a funding [...]