Ericsson acquires Vonage for £5.2bn July 22, 2022 Telecommunications company Ericsson has completed its $6.2bn (£5.2bn) acquisition of American cloud communications company Vonage. Vonage is now a wholly-owned subsidiary of Ericsson and will become a separate business area within Ericsson. Vonage common stock has stopped trading and will not be listed on the Nasdaq Global Select Market now. Vonage will still operate under its [...]
Stamp seller Stanley Gibbons sets out plans to delist from AIM July 22, 2022 Collectable stamp seller Stanley Gibbons today put forward plans to pull itself off of London’s Alternative Investment Market (AIM), as it announced the resignation of its CEO. The London stamp dealer said it will allow shareholders to vote on plans to delist Stanley Gibbons from the AIM stock exchange, at an extraordinary general meeting on [...]
Salesforce UK chief: Govt needs to do more to fix skills gap ‘crisis’ in tech July 22, 2022 The government needs to do more to fill the tech skills shortages, says UK Salesforce Executive Vice President and CEO Zahra Bahrololoumi.
FRP announces higher revenue and growth despite economic uncertainties July 22, 2022 FRP Advisory Group announced higher revenues and a growth in team size and market share despite a weakening economic outlook. For the year ended 30 April 2022, revenue rose 21 per cent to £95.2m from £79m in 2021, with a 15 per cent increase in FRP’s team size by 66 to 504 (excluding consultants). FRP Corporate [...]
Jubilee weekend boom fails to lift June’s retail sector July 22, 2022 An uptick in sales of food during the Jubilee weekend was offset by slower sales across the rest of the retail sector to see June retail volumes drop 0.1 per cent compared to previous month. The Jubilee weekend saw food shops sell 3.1 per cent more food last month than they did in May, as [...]
Ukraine grain crisis set to end with Turkey facilitating Kyiv-Moscow deal July 22, 2022 The global grain crisis caused by Russia’s blockade of Ukrainian ports is set to end when the two countries sign a deal today facilitated by Turkey. Kyiv and Moscow will reportedly agree to allow the export of grain through Ukraine’s Black Sea ports, spurring hopes that the shortage of supply will end and prices will [...]
Beazley delivers best combined ratio since 2015 despite profit decrease July 22, 2022 Beazley has delivered its best half-year combined ratio since 2015 despite a decrease in profit. In the six months ended 30 June, the insurance firm posted a profit before tax of £18.6m ($22.3m) – down 87 per cent on last year – while its returns on annualised equity went down by 14 per cent. Gross [...]
Truss or Sunak will need to deliver ‘shot in the arm’ of UK economy July 22, 2022 Rishi Sunak or Liz Truss will need to deliver a “shot in the economic arm” of the country to lift Brits’ confidence out of the doldrums after one of them wins the Conservative leadership race, two closely watched surveys published today reveal. Scorching inflation, the highest interest rates in 13 years and tax hikes have [...]
Hawkish policy on investments in British tech to only tighten, says Alphawave boss July 22, 2022 The government’s hawkish policy on foreign investments in British technology is only going to tighten, the boss of chip maker Alphawave has told City A.M. Computer chip manufacturers have fallen under increasing scrutiny in recent months. The potential takeover of Newport Wafer Fab by Nexperia, which is owned by a Chinese state-backed company, has raised eyebrows in [...]
HSBC sets up Communist Party cadre in China business July 21, 2022 Britain’s biggest lender and Asia-focused HSBC has set up a Chinese Communist Party (CCP) cadre in its China investment bank. The bank has become the first outside China to install a CCP committee, according to reports today in the Financial Times. Chinese law enforces domestic finance firms to have party officials in positions of authority. The [...]