Abrdn braced for AGM climate protests over ‘toxic bond’ ties to beleaguered Adani Group May 10, 2023 Asset manager Abrdn is set to face disruption at its annual general meeting today as climate protestors take aim at its provision of debt financing to what they call “fossil fuel expansionists”.
Consumer Duty: why City firms need to prepare now or face ‘robust action’ May 10, 2023 A clampdown is looming for City firms as the Financial Conduct Authority prepares to roll out its new consumer duty this summer, in the biggest shake-up of consumer protections in over a decade.
Capita warns of £20m hit from cyber attack May 10, 2023 A cyber attack against outsourcing firm Capita which saw personal information leaked onto the dark web is likely to cost £15-20m to resolve, the firm revealed this morning.
Can regulators get the City growing? It will be hard to tell, lawyers warn May 10, 2023 The government may run into trouble as it looks to gauge the impact of City regulators in boosting the growth and international standing of the UK’s financial sector, top lawyers have warned.
Scandal-stricken Home REIT set to appoint property giant as new investment manager May 10, 2023 Embattled social housing investor Home REIT is set to appoint property giant AEW as its new investment manager as it looks to move on from a string of scandals over the past seven months, City A.M. has learned.
Banking crisis: DIY investors piled into Credit Suisse and Silicon Valley Bank trades during turmoil May 9, 2023 Do-it-yourself investors piled into banking trades in the first quarter of the year as the sector was shaken by the collapse of Silicon Valley Bank and shotgun sale of Credit Suisse to UBS, new data has revealed.
Civitas agrees to ‘undervalued’ £485m takeover following wave of criticism from press and shortseller May 9, 2023 London-listed social housing investor Civitas revealed it had struck an “undervalued” deal to sell itself to a Hong Kong property giant today as it looks to escape a barrage of criticism from short sellers and the media.
Regulator probes Deloitte over audit of fashion firm Joules May 9, 2023 The Financial Reporting Council has opened an investigation into the audit of embattled retailer Joules today after Deloitte signed off its accounts prior to the firm’s collapse last year.
WANdisco set to slash headcount by 30 per cent as fraud fall out continues May 4, 2023 Beleaguered data firm WANdisco said it will slash its headcount by nearly a third today as it scrambles to steady the ship amid an accounting scandal and fraud probe.
Over the line: Liontrust strikes near-£100m deal to snap up Swiss rival May 4, 2023 London-listed asset manager Liontrust is set to buy a rival for £96m this morning as a consolidation of the industry accelerates this year.
