Screenshot: Will London ever be ready for tech IPOs? April 2, 2021 This week **Media Moment of the Week: Volkswagen’s awkward U-turn **Will London ever be ready for tech IPOs? **Amazon goes bonkers for bots Media Moment of the Week: Volkswagen’s awkward U-turn There are few things as grating as the forced joviality of April Fool’s Day and it should, in this writer’s opinion, be cancelled. That [...]
Shares in IT firm Softcat jump as pandemic drives up profit March 24, 2021 Shares in IT firm Softcat fizzed in morning trading after after the pandemic helped drive strong growth in both revenue and profit for the second half of the year. The FTSE 250 firm reported revenue of £577m in the six months to the end of January — up 10 per cent on the same period [...]
Just 43 tech firms have listed in London in the last 20 years March 22, 2021 Just 43 of the UK’s fastest-growing tech firms have floated on the London Stock Exchange in the last twenty years, according to new research. New research by accountancy firm BDO shows that of the UK’s 1,200 fastest growing tech startups fewer than four per cent have listed in London. Even with blockbuster IPOs lined up [...]
City Moves: Who is switching jobs in the Square Mile this week? March 17, 2021 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. IoD appoints new chair The Institute of Directors (IoD) has appointed a new chair after a thorough search process, who will step into the role next Monday. Patrick Macdonald is set to take [...]
Shares in events firm Ascential slump as pandemic sparks hefty loss March 15, 2021 Shares in Ascential dropped this morning after the media and events firm revealed a hefty loss in 2020 as a result of the pandemic. The FTSE 250 company, which runs the Cannes Lions festival, reported a pre-tax loss of £166.5m last year, compared to a profit of £1.8m in the previous 12 months. The lacklustre [...]
ESG demand pushes Gresham House assets higher March 11, 2021 Gresham House has reported stellar growth over the past year as interest in ESG pushed its assets under management higher. The asset manager reported a 42 per cent rise in AUM to £4bn over the year with organic growth of £1bn across housing, forestry and sustainable infrastructure. It was largely driven by £437m of positive [...]
FTSE 250 Ascential COO joins the board of cyber security firm Darktrace March 11, 2021 AI cyber security platform Darktrace has appointed Ascential’s COO to its board as a non-executive director. Paul Harrison, who formerly held the chief financial position at Just Eat, will aid the board in tackling the fast-changing challenges that the digital landscape brings. “As cyber-threats become more sophisticated and better-resourced, it is clear that the cyber [...]
Credit Suisse halts redemptions on $10bn Greensill-linked funds March 1, 2021 Credit Suisse has suspended redemptions and subscriptions on a range of investments linked to the Softbank-backed finance firm Greensill Capital. Greensill Capital is the brainchild of former Citigroup and Morgan Stanley financier Lex Greensill and it employs former PM David Cameron as an adviser. Greensill specialises in supply-chain finance where businesses borrow money to pay [...]
Darktrace appoints former BT boss to board ahead of £4bn float March 1, 2021 Darktrace has appointed former BT chief executive Sir Peter Bonfield to its board ahead of a potential stock market float that could value the cybersecurity giant at £4bn. Bonfield has more than five decades of experience in the tech sector, including a six-year tenure as boss of the blue-chip telecoms giant. He currently serves as [...]
UBS quits role in Darktrace listing over Mike Lynch links February 14, 2021 UBS has quit its role in the upcoming £4bn flotation of Darktrace, the UK tech firm, over its links to British entrepreneur Mike Lynch, who is facing fraud charges in the US. The Swiss bank has informed Darktrace that it can not work on the cybersecurity firm’s initial public offering (IPO), according to Sky News. [...]