Crypto: What to expect as world leaders gather in Davos January 16, 2023 The future of global crypto regulation is set to fall into the spotlight at Davos this week as regulators and policy makers scramble to shore up the industry in the wake of FTX’s collapse last year.
Ashmore predicts rebound in taste for emerging market risk as assets tick £1bn upwards January 16, 2023 Emerging markets specialist Ashmore expects investors’ risk appetite to roar back amid slackening Chinese covid restrictions and a rebound in developing economies. In a trading update, London-listed Ashmore said total assets under management jumped two per cent to $57bn (£47bn) in the final three months of 2022, up from $56bn at the end of the [...]
Odey profits halve to £18.8m as performance fees dry up January 16, 2023 Hedge fund boss Crispin Odey saw profits at his eponymous hedge fund more than halve last year after performance fees for the firm plunged, new filings reveal.
Cashed-up banks ready to buy UK fintech firms on the cheap in 2023, says VC chief January 15, 2023 The UK’s fintech sector will see a wave of acquisitions this year as cashed-up banks and investment firms will swoop in to buy struggling firms on the cheap, a top venture capital chief has predicted. Tim Levene, chief of London-listed venture vehicle Augmentum Fintech, said that banks had failed to properly digitally transform over the [...]
Diaries of a fund manager: Jack Hsiao on running a multi-billion pound investment giant January 13, 2023 As 2023 gets under way, the spotlight is firmly on the City and on its fund managers. What will be their next move? How and where do they find inflation-busting assets? Are they opting for more risk or playing it safe? City A.M. checked in with fund manager Jack Hsiao, he is a managing director [...]
FTX: Crypto exchange’s bankruptcy team recovers over £4bn in boost for burnt customers January 12, 2023 Collapsed crypto exchange FTX has recovered more than £4.1bn ($5bn) in assets, its bankruptcy team said yesterday, as the firm scrambles for cash to cover the billions of dollars lost by customers and investors. FTX, founded by disgraced former billionaire Sam Bankman-Fried, was valued at $32bn just over a year ago but imploded in early [...]
London beats Euro rivals to retain tech investment crown (yes, despite Brexit) January 12, 2023 London sailed past European rivals to retain its crown as the top destination for tech investment last year as nearly $20bn was pumped into the capital’s start-ups, new data has revealed.
Home REIT faces legal threat from biggest tenant over £5.5m rent relief deal January 11, 2023 Troubled social housing investor Home REIT is facing a legal challenge from its biggest tenant after trying to renege on a £5.5m rent relief deal it struck due to the dilapidated state of its properties, City A.M. can reveal.
BNPL: Usage of buy-now pay-later with firms like Klarna rockets – but does it ease shoppers’ cost-of-living burden? January 11, 2023 Buy-now pay-later usage rocketed last year as over four million new shoppers took to the products in a bid to shield their wallets from the soaring cost of living, new data shows.
Microsoft considering £8bn investment in Chat GPT owner, says Semafor January 10, 2023 Microsoft is in talks to invest $10bn (£8.2bn) into ChatGPT-owner Open AI, according to reports by Semafor earlier today, citing people familiar with the matter. According to the report, Microsoft’s investment would take OpenAI’s valuation up to $29bn. The deal would initially be based on a revenue share, which will see Microsoft take 75 per [...]