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 [...]
M&G set to be quizzed on takeover as Square Mile rumours swirl March 5, 2023 Bosses at asset management and insurance giant M&G are set to be quizzed by investors over a potential takeover swoop from Australian financial services Macquarie this week, as the firm updates the City with its full year results on Thursday. The update will mark chief executive Andrea Rossi’s first update at the helm of the [...]
Can fintech thrive outside of London? Charlotte Crosswell talks growing the sector around the country March 2, 2023 Even as Charlotte Crosswell launched the Centre for Finance, Innovation and Technology in Leeds this week with a mandate to boost fintech across the UK, those in attendance were asking why it couldn’t have been in London. The Leeds event had big name backers in City minister Andrew Griffith and has full-throated support from across [...]
Schroders: London asset manager’s profits tumble 14 per cent after 2022 proves ‘stress test for strategy’ March 2, 2023 Asset manager Schroders said its profits had tumbled sharply last year as market volatility dragged down its assets and caused investors to pull cash from its funds.
London Stock Exchange Group profits jump as it hails Refinitiv deal a success March 2, 2023 The London Stock Exchange Group said its “strategy is working” today as it posted a jump in pre-tax profits and claimed its acquisition of data firm Refintiv had delivered a boost to to the bottom line. The parent company of London’s bourse said pre-tax profits had jumped 38.8 per cent to £1.24bn last year, up [...]
