FTX: Crypto exchange’s new chief has ‘cavalier attitude to truth’ – regulator January 3, 2023 Crypto exchange FTX and its new boss has been accused of having a “cavalier attitude towards the truth” and failing to cooperate with authorities during bankruptcy proceedings. FTX, founded by disgraced former billionaire Sam Bankman-Fried, imploded in November after allegedly dishing out billions of dollars of customers’ cash to its sister trading firm Alameda Research. [...]
Bruised Home REIT suspends shares after accusations and delayed accounts January 3, 2023 Beleaguered property investor Home REIT announced it would suspend trading on the London Stock Exchange today after being rocked by a slew of accusations over the quality of its tenants and the sustainability of its business model. The housing firm, which buys up properties and leases them to charities for those without permanent addresses, has [...]
One in five mergers canned as volatility spooks dealmakers December 29, 2022 Nearly 20 per cent of all mergers and acquisitions were canned this year as dealmakers took fright at the extreme turbulence shaking global markets, new data has revealed. One in five deals were abandoned in 2022 while some 26 per cent were put on ice as private equity firms and corporate dealmakers opted to sit [...]
Goldman Sachs poised to slash headcount next month December 29, 2022 The chief of Goldman Sachs has warned staff he will slash the bank’s headcount by around eight per cent next month in a bid to bolster profits in the face of recession next year.
The City in 2023: Real estate and infrastructure increasingly inflation-proof alternatives for investors December 29, 2022 Half of UK investors have either made alternative investments this year or are considering doing so in 2023 as they seek inflation-beating options. They primarily focus on investments in assets such infrastructure, real estate but also private equity and commodities. Two in five investors are more likely to consider alternative investments as a result of [...]
Five tech funding rounds that bucked the gloom this year December 23, 2022 At first glance, you’d be forgiven for thinking it had been another fairly rosy year for tech firms raising cash in the Capital. London’s start-ups bagged £16bn throughout the year; the capital now boasts more high growth firms and ‘unicorns’ than many European countries; and the UK’s tech industry on the whole sailed past a [...]
Sercanto’s effort against UK recruiting decline December 21, 2022 | Sponsored The year 2022 ends with a bit of bitterness for the UK job market. The latter has in fact recorded a significant drop in hiring and, according to the forecasts, the trend could continue for 2023. The main reasons leading to this reduction are two: 1. Poor economic outlook discourages employers from investing and hiring [...]
Exclusive: Top fintechs slam regulators for slow progress on open banking December 20, 2022 A group of top fintech firms including Monzo and Wise have slammed UK regulators for a lack of progress on open banking today, claiming the “integrity and potential” of the regime in the UK is at risk.
Collapsed crypto exchange FTX looks to claw back Bankman-Fried’s political donations December 20, 2022 The collapsed crypto exchange FTX is looking to claw back the hefty political donations made by its founder Sam Bankman-Fried as its new management team tries to recover customers’ cash and repay a long list of creditors. In a statement today, the firm said it had been approached by a number of recipients of “contributions [...]
FTX founder Sam Bankman-Fried agrees to US extradition in major U-turn December 20, 2022 The disgraced founder of FTX, Sam Bankman-Fried, has agreed to be extradited to the US from Bahamas where he faces a slew of fraud and conspiracy charges from federal prosecutors.