Schroders assets slide as ‘industry headwinds’ shake markets July 27, 2023 Schroders said it continues to grapple with “industry headwinds” today as it notched a slide in assets under management but a boost in profits for the first six months of the year. The London-listed investor said it had seen a bump in operating profit of £341.4m in the six month to June after a sharp [...]
LendInvest founder Christian Faes: Why I left London for California July 27, 2023 Fintech founder Christian Faes tells City A.M. why he's swapped London for California.
Banks dish out £7.8bn in dividends as rising interest rates boost profits July 27, 2023 UK banks have dished out bumper payouts to investors over the past three months as lenders rake in profits on the back of rising interest rates, according to new research. Banks hiked their dividends to shareholders by 61 per cent to some £7.8bn to investors in the three months to the end of June, despite [...]
Lookers take-private deal back on the table after fresh £504m swoop July 27, 2023 Car seller Lookers looks set to become the latest firm to be plucked from London’s markets after its board announced a fresh £504m take-private deal after a previous offer collapsed last week.
Cut the crap: City firms under pressure to strip out shareholder legalese July 27, 2023 Top City firms must ditch impenetrable legalese and dense corporate-speak in their shareholder missives or amateur investors will remain shut out of the market, experts have warned.
Reckitt: Durex maker’s sales swell as price hikes offset volume slump July 26, 2023 Durex-maker Reckitt Benckiser said ramping up its prices had helped soften the blow of a volume slowdown in the first half of the year as it topped analyst expectations. Reckitt, which also owns Cillit Bang and Dettol among other brands, posted a pretax profit of £1.64bn for the first half of the year, down from [...]
WANdisco: Crisis-hit tech firm calls in tech stalwart Stephen Kelly to steady the ship July 26, 2023 WANdisco has announced tech stalwart Stephen Kelly will stay on as its permanent chief today after the firm was readmitted to trading yesterday following a fraud scandal. The firm has been mired in crisis since revealing in April that over $115m in sales bookings would be written off its results due to “potentially fraudulent irregularities” [...]
City watchdogs risk ‘watering down’ London rules in red tape bonfire, FTSE bosses warn July 25, 2023 City watchdogs are at risk of “watering down” standards in the capital as the government throws its weight behind with a slew of reforms to the listings regime and capital markets, FTSE bosses have warned.
GAM takeover: Rebel shareholders urge regulator to block ‘deceptive’ claims as Liontrust spat erupts July 25, 2023 A group of rebel GAM shareholders trying to block the firm’s takeover by Liontrust has called on Swiss regulators to step in and prevent “deceptive” and “misleading information” being spread about its own offer.
Bridgepoint hopes for deals rebound later this year as sluggish exit market hits income July 25, 2023 Private equity giant Bridgepoint said it was betting on a rebound in dealmaking in the second half of the year today after its investment income slumped in the first six months amid lingering volatility and a sluggish exit market.
