Deutsche Bank agrees to pay more than $87m over bribery charges January 8, 2021 Deutsche Bank will reportedly pay more than $87m to settle bribery charges as part of a deferred prosecution agreement with the US Department of Justice. The case, which alleges the bank broke US anti-bribery and commodities trading laws, was brought before federal prosecutors in Brooklyn on Friday. The German lender agreed to the settlement as [...]
MGM’s biggest shareholder backs offer for Ladbrokes owner Entain January 8, 2021 Casino operator MGM’s biggest shareholder InterActiveCorp (IAC) has backed its £8bn bid for Ladbrokes owner Entain. In a statement MGM said IAC considers the offer to be “compelling” and believes the deal would “position the combined company as a pure play omni-channel global leader in gaming and entertainment”. Earlier this week Entain, which also owns [...]
Moonpig plans £1bn London float after lockdown boom January 8, 2021 Digital card company Moonpig is set to be the first British unicorn to go public this year as its private equity owners plan an IPO. Moonpig, which has been owned by Exponent Private Equity for four years, is set to outline plans for a £1bn flotation within the next fortnight, first reported by Sky News. [...]
Bitcoin tops $40,000 as record rally continues January 8, 2021 Bitcoin has soared to over $40,000 after another record-breaking day for the cryptocurrency, as investors seek a hedge against inflation. The leading cryptocurrency was trading at $41,010.58 by 11.50am according to Coindesk, setting a fresh record as it doubled its value in less than a month. Bitcoin, which is created and traded using blockchain technology, [...]
Government confirms mandatory testing for all inbound travellers January 8, 2021 Passengers coming to England face fines if they fail to comply with new testing requirements as part of new measures introduced today. From next week all international arrivals, including UK nationals, will be required to present a negative coronavirus test taken up to 72 hours prior to departure. Passengers refusing to comply will be subject [...]
Hackers leak Hackney Council data after attack January 7, 2021 The cyber group that launched a ransomware attack on Hackney Council last year has posted what it claims to be documents from the council. Last October the council said it had been hit by a “serious cyber-attack” affecting its IT systems. Today Hackney said it appears the vast majority of the sensitive or personal information [...]
GDP will take less of a hit in third lockdown: ING January 7, 2021 After nearly a year of coronavirus restrictions the effect of a third lockdown on the UK economy will be less severe than the initial shock last March, in part because companies are far better prepared. News of a mutant Covid strain that is more transmissible and has sent cases skyrocketing will see GDP dip around [...]
Equity funds ride ‘coronacoaster’ to finish 2020 on a high January 7, 2021 Global equity funds closed a torrid year on a record high as investors were buoyed by news of a vaccine rollout. November saw savers invest a record £8.3bn, beating the previous record of £5.7bn net retail sales from September 2017, according to data from the Investment Association (IA). With interest rates at almost zero investors [...]
TP ICAP launches rights issue to fund Liquidnet deal January 7, 2021 Interdealer broker TP ICAP is seeking a £315m rights issue to fund its acquisition of electronic trading network Liquidnet Holdings. The rights issue is expected to result in the issue of 225.3m shares for qualifying shareholders equivalent to 40 per cent of the existing share capital base. The FTSE-250 listed firm announced the deal in [...]
London set for IPO ‘bonanza’ in 2021 January 7, 2021 Building on the momentum seen towards the end of last year, IPO activity in the capital is set to surge this year. After a pause in the first half of the year as the pandemic took hold, activity started to re-emerge by the end of the summer before a significant uptick in the last quarter. [...]
