BlackRock flexes shareholder muscle and ups votes against company management July 20, 2021 The world’s largest asset manager has toughened its stance on corporate governance and increased its votes against board proposals and executive pay at large public companies worldwide. In its quarterly stewardship report published on Tuesday, BlackRock said it voted against management on 33 per cent of “say-on-pay” proposals in European companies in the year to [...]
Wise reports solid revenue growth and surging customers in first trading update since IPO July 20, 2021 Wise, one of Britain’s biggest fintech firms, posted revenue in line with expectations of £123.5m in the first quarter of its financial year, up 43 per cent from a year earlier. In the first trading update since its £8bn float on London’s stock exchange earlier this month, the payments group said it processed £16.4bn in [...]
Parliamentary inquiry into Cameron Greensill saga says lobbying rules are ‘insufficient’ July 20, 2021 A parliamentary committee looking into the Greensill saga blasted ex-prime minister David Cameron for the “significant lack of judgement” he showed in his support for the failed firm. The “Lessons from Greensill Capital” report by the Commons Treasury Select Committee found that the current ministerial lobbying rules are “insufficient” and “there is a good case [...]
Forward Partners loses pre-trading gains on London AIM debut July 19, 2021 Tech-focused venture capital firm Forward Partners’ pre-trading gains were eroded by almost 13 per cent upon its listing on London’s AIM market on Monday morning. Shares in the VC firm slid to 100p at some points on Monday following its AIM debut – in line with its float price, and 12.5 per cent down on [...]
UK listings reformer and peer Lord Hill joins fintech startup W1tty July 19, 2021 Former EU Commissioner for Financial Services Lord Jonathan Hill, who called for deregulatory measures to attract more tech companies in the UK, has joined fintech startup W1tty as an adviser. The Conservative peer will join the advisory board of smart finance app W1tty, which is launching in Lithuania and Poland in Autumn. Lord Hill authored [...]
US, UK and allies accuse China of global ‘cyber sabotage’ including Microsoft hacks July 19, 2021 The United States government and a coalition of allies, including the UK and the EU, have accused China of a orchestrating a global cyber hacking campaign that included the major Microsoft attack earlier this year. A senior administration official speaking on behalf of the US government accused China’s Ministry of State Security of working with [...]
Thousands of Lloyds, Halifax and Bank of Scotland customers locked out of their accounts July 19, 2021 Thousands of customers have reported that they are locked out of their Lloyds Bank, Halifax and Bank of Scotland’s internet banking services and apps. Over 1000 people had reported issues with the Lloyds website by 11am today, according to Down Detector, which monitors IT issues at large consumer-facing companies. 1,100 people reported issues with Halifax [...]
Bill Ackman remixes Universal Music deal after SPAC plan questioned July 19, 2021 Billionaire investor Bill Ackman has been forced to rejig a $4bn deal to buy a 10 per cent stake in Vivendi’s Universal Music Group, after investors and regulators criticised his original SPAC plan. Pershing had agreed last month to buy 10 per cent of the world’s largest music company through a blank-cheque company called Pershing [...]
Ready meal firm Parsley Box reports steady growth fuelled by repeat orders after London IPO July 19, 2021 Parsley Box reported active customers were at record levels after a surge in new customers earlier in the year, but things had begun to “normalise” post-lockdown. The Edinburgh-based company, which targets the “baby boomer” generation, this morning reported unaudited first half revenue of £14m, an increase of 26 per cent over the same period last [...]
UK worker shortage: Home Office to announce five-year work visas for ‘skilled’ refugees July 18, 2021 Priti Patel is set to announce a new five-year visa for refugees fleeing war, reserved for those who can show proof they have the skills to fill jobs in the UK that are suffering a shortage of workers. The home secretary will next week reveal a new displaced talent mobility scheme, offering refuge to highly [...]