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Cineworld, the UK’s most-shorted company, had a terrible day today as its shares plummeted almost 40 per cent following a Canadian court order to pay out $900m (£722m) in damages and costs after it was sued for pulling out of a takeover deal with Canada’s Cineplex. The damages payout, which Cineworld will appeal against, is [...]
City broker Numis this morning reported its full year revenue swelled nearly 40 per to hit £215.6m, as a buoyant IPO market coupled with stabilised markets and rising deal fees helped the firm deliver its second record annual revenue performance in a row. Profit before tax doubled in the year to September 30, which Numis [...]
Lord David Sainsbury, the great grandson of Sainsbury’s founder, plans to bet big on private equity funds through his family office Innotech Advisers, according to a UK registry filing. The London-based firm, which has stepped away from public markets to invest in private companies – predominantly through loans and participation in limited partnerships with independent [...]
Fund inflows swelled to the highest total on record at wealth manager Brewin Dolphin in the past year, buoyed by a combination of positive net flows and strong investment performance. The London-listed firm drew in a record £4bn of discretionary inflows in the year to the end of September, compared to £2.8bn in the previous [...]
Shares in genome sequencing company Oxford Nanopore rocketed as much as 45 per cent this morning after its IPO, in the best-ever London market debut for a company of its size. Oxford Nanopore shares were trading at 619p per share at market open, pushing its market cap up to £4.93bn – significantly higher than the [...]
Chancellor Rishi Sunak today hailed London’s bounce back from the pandemic as new figures show the capital is sprinting ahead of rival European tech hubs. London has attracted more venture capital investment to its startups than anywhere else in Europe and now boasts more unicorns – firms valued at more than $1bn – than France [...]
Digital car insurance provider Marshmallow has smashed the $1bn threshold after its latest Series B funding round, making it the second UK unicorn with founders of Black heritage. Marshmallow’s latest cash injection of $85m values the insurtech at over $1.25bn (£907m), joining the ranks of other recent UK unicorns Starling Bank, Gousto, Zepz and Zego. [...]
The Joint Committee on Vaccine and Immunisation (JCVI), which advises the government on its jab rollout, has decided not to recommend Covid vaccines for healthy 12 to 15-year-olds. After an assessment that focused on health grounds alone, the JCVI has now referred the matter to the UK’s four chief medical officers to review. The JCVI [...]
Almost three weeks after the majority of restrictions were lifted in the UK on “Freedom Day”, City AM analysis has revealed which London boroughs suffered the most Covid deaths during the last year of the pandemic. From the onset of the pandemic in March 2020 to when the UK’s third lockdown began to wind down [...]
UK and US joining forces on climate action at G7 may boost trade deal chances
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