Jersey regulator hasn’t received application from Woodford’s new firm February 17, 2021 The Jersey regulator has said it has not received any authorisation application from Neil Woodford’s new investment vehicle, WCM Partners. The veteran investor recently apologised for the collapse of his investment company, announcing comeback plans to launch his new biotech focused outfit in Jersey and Buckinghamshire. The Jersey Financial Services Commission released a statement today [...]
UK’s tech stocks outperform main market by 19 per cent February 17, 2021 Interest in technology stocks has piqued during the pandemic and are now outperforming their FTSE peers, according to exclusive data shared with City A.M. The FTSE techMARK 100, London’s technology index, rose seven per cent last year as the FTSE floundered and shed 12 points, research by Bowmore Asset Management shows. After what has essentially [...]
Plus500 plots share buyback as profit soars on record performance February 17, 2021 After a record performance in 2020, online trading platform Plus500 is planning a further buyback program of up to $25m of its shares. Plus500 reported a pretax profit of $523.3m up from $189.3m the previous year with revenue rising 146 per cent to $872.5m. Shares dipped 0.9 per cent this morning. The FTSE 250-listed company [...]
London’s small-cap firms fall behind FTSE 100 on diversity targets February 17, 2021 The lack of diversity in boardrooms goes well beyond the FTSE 100 with new research showing just how little progress small-cap firms have made. A staggering 84 per cent of AIM and 78 per cent of Small Cap 100 companies have all white boards, over double the proportion seen in the FTSE 100. Some progress [...]
Centessa launches with $250m funding in bid to take on big pharma February 16, 2021 A merger of 10 biotech startups has launched with $250m in funding in a unique bid to take on the big drugmakers. Umbrella company Centessa Pharmaceuticals, founded by venture capital firm Medicxi, has launched today having raised $250m in an oversubscribed Series A. The round was led by General Atlantic and co-led by Vida Ventures [...]
All eyes on dividends: What to expect from Barclays and Natwest this week February 16, 2021 Barclays and Natwest will be the first of the major high street banks to report full year results this week. It has been a difficult 12 months with Brexit weighing on sentiment in addition to the fallout from the pandemic. All eyes will be on dividend payments after the Prudential Regulation Authority effectively banned payouts [...]
UBS investment bank co-chief joins Euronext as chairman February 15, 2021 Piero Novelli will leave his job as co-president of UBS’ investment bank to become chairman of the stock exchange operator Euronext. The appointment, which was triggered by Euronext’s acquisition of Borsa Italiana last October, leaves Robert Karofsky in charge of the UBS division. As part of the deal, Euronext reportedly agreed to have an Italian [...]
LVMH founder and former UniCredit boss launch European-focused SPAC February 15, 2021 Former UniCredit chief Jean Pierre Mustier and LVMH founder Bernard Arnault are the latest to join the SPAC boom, creating a new vehicle to invest in European financial firms. Blank-cheque vehicles have grown in popularity in the past year as IPO activity fell off a cliff at the start of the pandemic. They are created [...]
Glaxosmithkline set to close two UK sites following Sandoz deal February 12, 2021 Glaxosmithkline has announced plans to shut its antibiotics business at two UK sites with production shifting to Europe. This week GSK agreed to sell rights to three antibiotic brands, including Zinnat, to Novartis’ Sandoz unit in a deal worth $500m. But the deal is now set to lead to up to 200 job losses as [...]
Mario Returns: Former ECB boss Draghi forms new Italian government February 12, 2021 Mario Returns: Former ECB boss Draghi forms new Italian government
