Chrysalis portfolio slides 23 per cent as Klarna plunges in value August 22, 2022 Prolific tech investor Chrysalis Investments said the value of its portfolio had plunged 22.8 in the second quarter of the year as its stakes in firms including Klarna and Starling tumbled in value.
Open Orphan subsidiary to trial influenza antiviral for Big Pharma firm in £10m deal August 22, 2022 A subsidiary of clinical research firm Open Orphan has inked a £10.4m contract with a Big Pharma client to test an influenza challenge virus and an antiviral product in human trials. The London-listed firm’s challenge trials company hVIVO has seen a rise in pharmaceutical companies looking to test their vaccines and antivirals against specific subtypes [...]
Poll shows Tory members still prefer Johnson to remain PM despite Truss 66 point lead August 22, 2022 With just two weeks to go in the Conservative leadership race, a new poll has claimed Boris Johnson is still more popular than Liz Truss and Rishi Sunak. Figures released by YouGov shows Liz Truss has 66 per cent Tory members’ support compared to Rishi Sunak, on 34 per cent. The 32-point lead however pales [...]
Cineworld seeks ‘potential’ restructuring to deal with £4bn debt burden August 22, 2022 Cineworld has said it is looking to gain liquidity and potentially restructure its balance sheet through a “comprehensive deleveraging transaction” as it carried billions in debt. The company, which owns US-based cinema chain Regal, said it had voluntarily sought a Chapter 11 bankruptcy filing in the US in pursuit of a potential restructuring. “Cineworld and [...]
Vodafone strikes deal to sell Hungary operation for £1.53bn August 22, 2022 Vodafone has struck a deal with a Hungarian tech firm 4iG and state-backed Corvinus Zrt to sell off its operations in the country for €1.8bn.
London faces higher inflation than rest of UK, new figures show August 22, 2022 Astronomical renting costs in the capital have led to a higher inflation rate in London than the rest of the UK, according to new figures released by City Hall. The figures show underlying inflation has been 1.5 per cent higher in London than the rest of the country over the past six months, after annual [...]
UK workers keen to bag big City bonuses August 22, 2022 Workers are keen to capitalise on bumper bonuses handed out by banks, brokers and insurers, a new survey published today shows. Around a quarter of Brits want to shake up their careers and move into the financial services sector, according to consultancy KPMG. Of those considering moving to a job in the City, some 58 [...]
Organised crime gangs defrauded £367m from Covid support schemes August 22, 2022 Almost £400m was stolen from the UK government’s Covid support schemes by organised crime gangs, according to new figures released by Whitehall. Figures released by HM Revenue and Customs, after a Freedom of Information request by law firm Pinsent Masons, showed £367m was stolen from initiatives like the furlough scheme and Eat to Help Out. [...]
Johnson green lights £30bn Sizewell C nuclear power station August 21, 2022 Boris Johnson has given the green light to a new £30bn nuclear power station in Suffolk in the final weeks of his premiership. Johnson and chancellor Nadhim Zahawi approved funding for the construction of two new reactors, known as Sizewell C, despite the Prime Minister vowing to not make decisions in this transitional period. Zahawi’s [...]
Ministers consider plans to bail out businesses facing energy price spikes August 21, 2022 The government is considering plans to bail out businesses this year as they face soaring energy prices over autumn and winter. Chancellor Nadhim Zahawi is drawing up different options for the next Prime Minister to consider when they are sworn in next month. The Sunday Times reports that measures such as VAT and business rates [...]