Capital raising in the City picks up despite ongoing Covid disruption as listed firms pull in close to £25bn this year December 29, 2021 UK listed companies have raised more than £12bn in new capital from investors in the second half of the year, bringing the total so far for 2021 between January and November to £24.7bn, according to data shared with City A.M. This represents the second highest total since 2009, following on from 2020 when £34.4bn was [...]
Private equity groups spend $42bn acquiring their own companies to raise cash December 24, 2021 The number of deals where private equity groups sold companies to their own funds – to bring about generous payouts for executives – surged this year and were worth $42bn, according to reports. Known as ‘continuation fund’ sales, the frequency of such deals marked a sharp rise of 55 per cent compared to 2020, according [...]
Champagnes bubble up in price amid trickling supply and upbeat demand December 24, 2021 Champagnes have bubbled up in price amid a trickling supply and higher demand over the course of the year. The cost of vintage champagnes such as Dom Pérignon 2008 and Krug 2000 have ballooned in price this year, outperforming global stocks, the Financial Times reported, as investors spy returns in previously overlooked assets. In general, [...]
Exclusive: ‘No quick fixes’ in 2022 as Deutsche Bank’s global investment chief discusses inflation and central banks December 22, 2021 Inflation and central banks will be in focus next year. In fact, 2022 should be the year where central bank policy really starts to change gear, with other central banks to follow the Fed’s line on tightening, according to Christian Nolting, Global Chief Investment Officer at Deutsche Bank. “But there will be plenty of other regime [...]
FCA to consult on British Steel redress amid probe into watchdog’s handling of debacle December 22, 2021 The Financial Conduct Authority (FCA) is set to consult on a redress scheme for those who invested in the British Steel Pension Scheme (BSPS) – which could finally see members get their cash back. The consult is expected to end by March next year, the FCA added, as they gather further evidence and engage with [...]
UK economic growth: Sharp pullback as GDP climbs by just over 1 per cent and contraction expected this month December 22, 2021 The UK economy grew at a slower pace than first thought between July and September, at 1.1 per cent, compared with the 1.3 per cent initial estimate, the Office for National Statistics said this morning. This was before the impact of the new Omicron variant of coronavirus. This marks a sharp pullback on growth in [...]
NS&I lifts rates on savings to meet Treasury’s fundraising target December 21, 2021 National Savings & Investments, the government-backed savings bank, today announced it will push up interest rates on some of its savings accounts at the end of the month, as it scrambles to meet the government-set net financing target for its financial year. As of 29 December, the interest rate on NS&I’s Direct ISA, Direct Saver [...]
River & Mercantile bidding war deadline extended December 21, 2021 Asset manager River & Mercantile (R&M) has extended the deadline for takeover bids from its suitors AssetCo and Premier Milton into the new year. The new deadline is 18 January, but R&M said “This revised deadline may be extended further, at the request of the Board of River and Mercantile and with the consent of [...]
Global M&A activity hits new record of $5 trillion in 2021 December 20, 2021 Global merger and acquisition (M&A) activity records of all time have been smashed this year, after exceeding $5 trillion for the first time. Global M&A jumped 63 per cent to $5.63tn (£4.26tn) while in Europe activity was almost 50 per cent up, to $1.26tn (£954m), driven in part by a boost of confidence among chief [...]
London ‘uniquely well-placed’ as space sector heads for M&A boom in 2022 December 20, 2021 The UK’s space sector is bound for an explosion in mergers and acquisitions (M&A) next year – with London “uniquely well-placed” for a leading role in the forecasted frenzy. Managing associate of Linklaters technology practice, Katie Williams told City A.M., that an increase in M&A activity is likely, with banks and other financiers expected to [...]