Amigo survival options ‘diminish significantly’ as lender scrambles to raise £45m emergency cash March 8, 2023 Beleaguered lender Amigo said its survival options had “diminished significantly” today as it updated on efforts to raise £45m in a bruising meeting with shareholders.
Darktrace warns of rise in ‘hacktivism’ and AI threats as profits fall 92 per cent March 8, 2023 Cybersecurity firm Darktrace reported a plunge in profits in the first half of its financial year today amid a rise in employer tax charges and a slowdown in new business. In a trading update on the six months to the end of December, the firm said operating profit had fallen 91.6 per cent to $577,000 [...]
Female tech founders bag £3.6bn despite wider investment slump March 8, 2023 Venture capital investment into tech firms founded by women jumped last year despite soaring inflation and volatility sparking a slowdown in funding across the sector, new figures reveal. Female founders shrugged off the downturn that hit the UK’s tech sector last year and bagged some £3.6bn of VC, up from £2.9bn the previous year, according [...]
Fintech Railsr says sale is ‘around the corner’ amid financial troubles March 7, 2023 Beleaguered embedded banking firm Railsr said a sale was “around the corner” today as it scrambles to find new ownership amid regulatory scrutiny and financial troubles. Railsr, previously regarded as a darling of the UK’s fintech scene, has been hunting for a buyer over the past few months as funding has dried up. Bloomberg reported [...]
Apollo makes another takeover swoop for Wood Group March 7, 2023 Shares in energy and consulting firm Wood Group surged today after it revealed a £1.6bn takeover swoop from US buyout giant Apollo, its fourth bid for the firm. The London-listed engineering and energy consulting firm, which has rejected the three previous cash offers on the grounds they undervalued the firm, said it was set to [...]
London’s capital markets woes deepen as WANdisco eyes New York March 6, 2023 London’s ambitions to elevate its capital markets on the international stage were dealt a fresh blow today as data firm Wandisco became the latest UK tech outfit to reveal it was eyeing a New York listing. In a statement this morning, the AIM-listed firm said it was in the “early stages” of scoping out a [...]
Can Rishi Sunak’s science superpower dreams become reality? March 6, 2023 Rishi Sunak rolled out plans to “cement the UK as a tech and science superpower by 2030” today with promises to tempt in the best global tech talent and deliver a state-backed £370m investment boost. The new “framework” marks the first major outing for the newly minted department for Science, Innovation and Technology, which ministers [...]
Home REIT rent troubles deepen as two major tenants go bankrupt March 6, 2023 Beleaguered social housing investor Home REIT revealed that two of its tenants had gone into administration this morning, effectively shutting off another 18 per cent of its annual rent roll.
Exclusive: Tech chiefs look to win over pension funds on UK ‘sovereign wealth fund’ plans March 6, 2023 Tech and fintech industry chiefs have met with some of the City’s top pension funds as part of plans to create a UK “sovereign wealth fund” that could help unleash a wave of funding into the UK’s tech startups, City A.M. can reveal.
“How not to do it”: Tech chiefs slam Sunak and Johnson over Arm listing failure March 5, 2023 The government has come under fire for a failed attempt to woo British chipmaking giant Arm into listing in London after the Cambridge-based firm confirmed it would float in New York on Friday. The move from Arm has dealt a major blow to the UK’s efforts to promote itself as a premier listing hub and [...]
