M&A quarterly transactions down as investors nervy amid war in Ukraine June 7, 2022 The number of merger and acquisition transactions in the UK has plunged in the first quarter of the year, versus the end of last year. According to fresh figures published by the Office for National Statistics, there were some 370 completed M&A deals in the first quarter of the year. This was a significant drop [...]
OpenOrphan CEO pins record revenue on London and preparing for the next pandemic June 7, 2022 The CEO of OpenOrphan, which researches infectious diseases for Big Pharma firms, has hailed London as the reason it snagged a record revenue over the past year. Speaking to City A.M. today, CEO Yamin ‘Mo’ Khan said: “The reason we have be so successful is because we’re based in London. We wouldn’t have been able [...]
Cazoo cuts 750 jobs to save more than £200m by end of next year June 7, 2022 Online car retailer Cazoo has announced it will cut 15 per cent of jobs to save more than £200m until the end of next year. Under its business realignment plan, the company will axe 750 UK and EU positions, cutting vehicle preparation as well as customer support sites. Cazoo’s focus will instead be driving its [...]
Johnson promises tax cuts to cabinet after surviving confidence vote June 7, 2022 Boris Johnson has promised his cabinet that he will unveil tax cuts, after last night surviving a vote of confidence in his leadership of the Conservative party. The Prime Minister this morning told a cabinet meeting that he will “deliver tax cuts” and that “it is people who have the best feel for how to [...]
£24,000 per ticket to attend original ‘Wolf of Wall Street’ crypto event June 7, 2022 The original Wolf of Wall Street, whose blockbuster memoir about his explosive career in high finance was the inspiration for the 2013 movie starring Leonardo DiCaprio, is co-hosting an exclusive two-day cryptocurrency event in London this month costing one Bitcoin - around a whopping £24,000 - to attend.
Open banking fintech Bud inks $80m funding round June 7, 2022 Open banking fintech firm Bud announced its $80m (£64m) Series B funding, led by Bellis Phantom Holdco, an indirect affiliate of investment funds managed by TDR Capital. The investment, which was also backed by existing investors including Outward VC, will be used to develop the firm’s models and allow for further international expansion. The open [...]
Education group Pearson rakes in over £160m from EU deals June 7, 2022 Education group Pearson is set to sell its K12 Courseware businesses in Italy and Germany for £163m, after several years of intermittent online learning. The deal, cut with Finland-based Sanoma Corporation, will also see Pearson share its English language teaching products in Italy. The disposals are hoped to have unlocked around £15m to £20m for Pearson’s adjusted operating profit. [...]
Paramount faces blockbuster lawsuit over Top Gun copyright breach June 7, 2022 Tom Cruise's latest blockbuster hit may be facing the courts after the family of the Israeli writer whose article inspired the 1986 original movie sues Paramount.
Service sector dealt hammer blow as cost of living crunch sinks in June 7, 2022 The UK service industry was hammered last month, posting its worst performance for more than a year, as soaring inflation weighed down consumer demand. The closely-watched IHS Markit/CIPS UK services PMI survey scored 53.4 last month, tumbling from a 58.9 reading in April. Any score above 50 shows growth in the sector. However, this represented [...]
Biffa shares soar 25 per cent on £1.4bn takeover bid by US private equity firm June 7, 2022 Biffa has received a takeover offer of around £1.36bn by a US private equity firm today, which sent shares in the waste management giant flying. Biffa shares surged more than 27 per cent to 415p per share by close of play, just 30p shy of the offers stock value – and its highest since its float [...]
