Creo Medical to IPO with £20m in fresh funding December 8, 2016 Creo Medical – a small biotech company specialising in surgical endoscopy – will float on the London junior market tomorrow after raising some £20m from investors. The shares will begin trading on Friday, priced at 76p, giving Creo a market capitalisation of £61.2m. The raising, with about a fifth coming from existing backers, will be used [...]
London still top destination for future hedgies December 8, 2016 London is set to remain a hedge fund hotspot in coming years after 21 of 50 up-and-coming hedge fund managers in Europe were found to be based in the UK capital. The research – from the Hedge Fund Journal (HFJ) in partnership with accountancy giant EY – features fresh names in the sector, most of [...]
Scots are not claiming a Brexit veto, court hears December 7, 2016 The Scottish government is not claiming a veto over the UK leaving the European Union, the Supreme Court heard today. James Wolfe QC, the lord advocate for the Scottish government, told justices that Scotland’s consent still matters however because of the effect of withdrawal from the EU on its citizens. This evening MPs overwhelmingly backed a motion [...]
Numis boss glosses over sterling’s demise after posting record revenue growth December 7, 2016 Stockbroker Numis raked in the cash after posting its best ever revenue growth over the last year. Despite 2016's shock events one of Numis’ two co-chief executives said he was feeling positive about next year. “We’re expecting M&A activity to pick up next year, after a relatively flat period,” Ross Mitchinson, co-chief executive, told City A.M., adding, “Brexit [...]
Italian senate signs off on 2017 budget, clearing the way for PM Renzi to resign December 7, 2016 Italian Prime Minister Matteo Renzi will hand in his resignation today at 6pm London time, it has been reported, after the country's parliament approved Italy's 2017 budget. Renzi was earlier in the week asked to stay on until after the budget was passed by Italy's president Sergio Mattarella. The 41-year-old Italian premier promised to quit [...]
Brexit vote hits deal numbers in third quarter December 6, 2016 The total number of mergers and acquisitions (M&A) involving UK companies in the three months to September almost halved from the previous quarter. The data from the Office of National Statistics is the first indication of how deal activity has been impacted following the UK’s decision to leave the European Union in June’s referendum. In total, [...]
Miller’s star QC centre stage at Supreme Court arguing June’s referendum does not give ministers power to enact Brexit December 6, 2016 Lord Pannick QC was centre stage yesterday at the Supreme Court, contesting the right of Prime Minister Theresa May to begin Brexit talks without Parliament's approval. Acting on behalf of investment manager Gina Miller – the driving force behind the legal challenge to the government’s right to trigger Article 50 without parliamentary approval – he [...]
OECD Pisa education report: Reading and science scores climb as maths struggles December 6, 2016 The UK is climbing the world rankings in both reading and science according to the latest Organisation for Economic Co-operation and Development (OECD) international student assessments. The Programme for International Student Assessment (PISA) is undertaken once every three years and tests 15-year-olds' abilities in the core academic disciplines of reading, maths and science. It found the [...]
Samsung Vs Apple: US Supreme Court rules in favour of the South Korean giant December 6, 2016 The US Supreme Court has backed Samsung in the latest round of its patent bout with Apple. The decision to throw out an appeals court ruling means the South Korean company won't necessarily have to pay the $399m (£313m) penalty to Apple for copying the design of the iPhone. The US justices were unanimous in their decision, ruling eight to zero in [...]
GoDaddy has beaten out the competition to buy Host Europe Group for $1.8bn December 6, 2016 Website domain name provider GoDaddy is buying rival Host Europe Group (HEG) for €1.69bn (£1.42bn) including debt. The move is designed to help accelerate GoDaddy’s international expansion and grow its services beyond the initial set-up of websites. Host Europe is currently owned by private-equity firm Cinven, which picked up the business in August 2013, and has a debt [...]
