Global climate tech investment has tripled, but emissions-cutting solutions are overlooked December 15, 2021 Investment into climate tech is booming globally, as venture capital and private equity firms poured $87.5bn into the sector over the twelve months to 30 June 2021 – more than triple the $28.4bn global total reached a year before. Buoyed by dry powder accumulated during the first few months of Covid lockdowns, investment firms focusing [...]
Pure Gym shelves IPO for £300m KKR equity fundraising December 14, 2021 The UK’s largest gym chain Pure Gym today announced it has raked in £300m equity investment from private equity giant KKR, choosing to funnel fresh funds into its expansion plans before hitting public markets. KKR will become a significant minority investor in Pure Gym following the fundraising, alongside the company’s management and its existing majority [...]
CMA finds Apple and Google have a ‘vice-like grip’ on phones December 14, 2021 The UK’s competition watchdog has warned Apple and Google have a “vice-like grip” on how consumers use mobile phones, stripping them from any meaningful choice and hampering competition in the sector. A preliminary investigation published by the Competition and Markets Authority (CMA) today concludes that the two tech giants have dominated the market and have [...]
Pfizer targets Arena Pharmaceuticals in $6.7bn deal December 13, 2021 US drugmaker Pfizer today announced it has reached a $6.7bn deal to acquire Arena Pharmaceuticals, a company developing treatments for several immuno-inflammatory diseases. In a statement announcing the transaction, Pfizer said it will acquire all outstanding shares of Arena for $100 per share in an all-cash transaction – which represents a double premium on the [...]
DX Group caves in to activist investor pressure and appoints Gatemore to board December 13, 2021 AIM-listed delivery company DX Group this morning announced it has appointed the managing partner of Gatemore Capital Management to its board, just two weeks after the activist fund demanded a seat in order to address governance issues. Liad Meidar, Gatemore’s managing partner, has been appointed as a non-executive director “with immediate effect”, the mail and [...]
CMA launches probe into Microsoft $16bn Nuance deal on antitrust concerns December 13, 2021 Britain’s competition watchdog has launched an investigation into Microsoft Corp’s $16bn acquisition of artificial intelligence and speech technology firm Nuance Communications on antitrust concerns. The Competition and Markets Authority (CMA) this morning said it was launching the probe to establish whether the deal would “result in a substantial lessening of competition within any market or [...]
Credit Suisse shakes up board and appoints new wealth management head December 13, 2021 Credit Suisse has welcomed back Francesco De Ferrari and named him global head of the bank’s wealth management division, among a series of appointments to its executive board announced this morning. De Ferrari, who worked at Credit Suisse between 2002 and 2018, will return to the Swiss bank in the new year after a brief [...]
FCA scrambles to fill staffing gaps with almost £1m headhunter spend December 13, 2021 The UK’s financial services watchdog had hired private law firms to help process job applications and dished out almost £1m on headhunters this year, as it rushes to fill an abnormally large vacancy pool following a series of departures. While vacancy levels at the Financial Conduct Authority normally run at around 300, they currently stand [...]
Expenses fintech Pleo rakes in $200m, tripling valuation to $4.7bn December 9, 2021 Fintech Pleo has raised $200m in an extended Series C round at a valuation of $4.7bn, hot on the heels of its last cash injection in July that saw it pass the unicorn threshold at lightning speed. Pitching itself as the “largest spend management company in Europe”, Pleo provides expense management subscriptions to businesses that [...]
Credit Suisse pencils in next payout to Greensill fund investors this month December 9, 2021 Credit Suisse is plotting another payout this month for investors in its frozen supply chain finance funds linked to Greensill Capital, the bank said today. The latest payout is the sixth installment since Greensill Capital collapsed earlier this year, taking the total amount returned to investors as of the end of November to $7.1bn. It [...]