UK credit score giant Clearscore heading for unicorn status after $200m Invus injection June 24, 2021 Clearscore, a free-to-use credit check company based in London, has reportedly accepted a $200m (£144m) investment from US-based fund Invus Opportunities. As reported by Sky News, the deal values the company at $700m (£503m), placing it on track for unicorn valuation. The company plans to use the funding to grow its staff numbers, product offerings [...]
Ground breaking scheme rating COVID-19 safety expanded to all City businesses June 24, 2021 | City Talk A pioneering scheme assessing business’ COVID-19 safety measures has been expanded to cover all City companies. The accreditation scheme, which was set up in September last year as a pilot, was the first of its kind launched by a UK governing body. Following its initial success, it was relaunched in April, to promote public confidence in [...]
Impact investing is increasingly a buzzword in the City as millennial investors take over June 24, 2021 Impact investing, the strategy to make financial profits but create a long-standing, positive impact on our world, in the process, is becoming increasingly ‘a thing’ in the City and other financial hubs around the world. Many investors are hyper-aware of what is happening around them, with factors such as corporate social responsibility (CSR) making a [...]
Shares fly at London-listed DeepVerge as Covid-19 detection tech passes trials June 24, 2021 London-listed scientific research group DeepVerge has said today its wastewater Covid-19 detection technology has successfully completed trials. The news sent the group’s shares flying this morning, rocketing 7.81 per cent and lifting its share price to 34.5p per share. The Covid-19 detection tech, known as Microtox, offers another string to the UK and the rest [...]
Former chancellor George Osborne named British Museum chair June 24, 2021 George Osborne has been named as the new chair of the British Museum, marking the latest high-profile role for the former chancellor. Osborne will join the board in September and take up the role of chair from 4 October. He takes over from former Financial Times editor and CBI director general Sir Richard Lambert, who [...]
Fintech firm Wise to directly list on the London Stock Exchange in early July June 24, 2021 Fintech firm Wise has confirmed it will float on the London Stock Exchange with a direct listing, it said in a statement this morning. The payments group, formerly known as Transferwise, had previously made an announcement on 17 June of its expected intention to float. “Since announcing our expected intention to float last week, [...]
KPMG told to expect £250m claim for Carillion collapse June 23, 2021 Accounting giant KPMG is expected to be told to pay £250m for its role in the collapse of outsourcing firm Carillion, its former client, in 2018. On behalf of the Insolvency Service, lawyers have warned KPMG to expect a claim. The expected move is part of an effort to reclaim funds that will be used [...]
City Moves: Who’s switching jobs in the Square Mile this week? June 23, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Barclays Corporate Banking appoints new head of real estate Barclays has appointed a new head of real estate for corporate banking this week, following the retirement of the former-lead. Jason Constable, [...]
Square Mile offices and homes to be warmed with heat from over 650ft below its streets June 23, 2021 In a bid to make London’s Square Mile more sustainable, its homes and offices will be warmed by drawing heat from over 650ft below the streets of the City. As one of the largest low-carbon heating systems in the UK, which forms part of a £4m scheme, the system will produce the same amount of [...]
London launches England’s first hydrogen-powered double decker buses June 23, 2021 Transport for London (TFL) will today add 20 new environmentally friendly hydrogen double decker buses to its fleet. Launched by London mayor Sadiq Khan in Ealing, the buses will provide commuters with smoother, quieter journeys thanks to less vibrations. Free-to-use USB charging ports will also be available onboard. They will join more than 500 electric [...]