European Central Bank announces end of quantitative easing June 14, 2018 The European Central Bank (ECB) today announced the end of its quantitative easing (QE) bond purchases, in a landmark moment in the Eurozone's drawn-out economic recovery. The ECB said it will reduce the pace of asset purchases from €30bn (£26.4bn) per month to €15bn from September to December, in a press released today after its [...]
A sovereign wealth fund could diffuse the UK’s debt timebomb June 13, 2018 There’s a hint of sunshine peeping out from behind the grey clouds of austerity. After eight long years of belt-tightening, we’re living within our means at last. Our taxes cover our day-to-day spending on things like health, education, policing and defence, so we’re only having to borrow to invest in long-term infrastructure like roads and [...]
Ex-Goldman investment manager plans to raise £100m in new Indian equities investment trust Ashoka June 12, 2018 A former top investment manager at Goldman Sachs plans to raise £100m on London’s stock market to invest in companies focused on India. Ashoka India Equity Investment Trust today announced its intention to launch its initial public offering on London’s main market, with a view to eventually investing in between 20 and 40 stocks. The [...]
French asset manager Comgest bets on London with new office launch June 12, 2018 Paris-headquartered asset manager Comgest has backed London with the launch of its first UK office in Mayfair. UK-based clients represent approximately seven per cent of Comgest’s asset under management, around £1.8bn out of £25.1bn. Read more: Strong performance by asset managers fails to prevent fees being squeezed Comgest’s chief executive officer Arnaud Cosserat said: “Comgest [...]
Aquis gears up for £12m float on London Stock Exchange June 11, 2018 Share-trading venue Aquis Exchange is set to float on Thursday as it seeks to raise £12m following previous investment. The pan-European cash equities exchange, which is aiming to be valued at £73m with a share price at around 269p, is planning to list on the Alternative Investment Market (Aim). With the firm having already raised [...]
London-based artificial intelligence firm looks to expand after raising £13m in a Series A funding round June 11, 2018 Research-driven artificial intelligence (AI) company Eigen Technologies aims to expand after raising £13m in its first significant round of venture capital financing. The London-based tech firm, which has obtained the money in a Series A round co-led by Goldman Sachs and Temasek, takes unstructured qualitative data and turns it into information which companies can then [...]
Mind Gym flexes muscles with £140m London listing June 10, 2018 Training firm Mind Gym is planning to flex its market muscles through a £140m listing on London Stock Exchange arm AIM. The company, which is owned by Octavius Black, an Eton peer of former Prime Minister David Cameron, has brought in Liberum Capital to handle the listing. City A.M understands that an announcement on the [...]
Higher oil prices to boost UK inflation with ECB and Federal Reserve in tightening mood June 10, 2018 Higher oil prices are expected to cause a rebound in UK inflation, adding to expectations that the Bank of England will carry out the rate hike it delayed in May in the coming months. Consumer price index inflation will bounce back in May to a yearly rate of 2.6 per cent in data published on [...]
Argo aims to become first main market-listed crypto-miner as it launches new mining subscription service June 9, 2018 Argo has announced that it intends to become the first crypto-miner listed on the London Stock Exchange and will launch a service which makes mining easier for clients. The originally Canada-based company, which has now launched in the UK, seeks to capitalise on the recent surge in demand for crypto-mining by launching the subscription-based service [...]
London Stock Exchange opening delayed by an hour on Thursday morning after a ‘technical issue’ June 7, 2018 The London Stock Exchange open this morning was delayed due to a "technical issue" that has now been resolved. A London Stock Exchange Group spokesperson confirmed the opening auction had been delayed. They added: "We will provide further updates shortly." It was then confirmed that trading would resume at 9am, and is now back in [...]