City A.M. TV: Daily Market Snapshot (video) February 24, 2021 Sector behaviour in the global markets is currently unusually divergent. Key cyclical sectors across the globe are making new highs: UK & US airline sectors, for example, have rallied sharply in recent trading sessions to new multi month highs; the UK’s FTSE basic materials sector is at new multi-year highs, while the global banks sector [...]
Tether settles with the NYAG and Square buys the dip, sparking rapid recovery for crypto markets February 24, 2021 A glance at the crypto world as we unpick the recent drama of the markets.
Investors fight back over bonuses at furlough firms February 24, 2021 Companies taking furlough cash should not pay bonuses to their directors, the City’s top investment managers have warned. The Investment Association (IA), which represents 250 fund managers overseeing £8.5 trillion of investments, has said remuneration committees should not compensate bosses for pay cuts by “catch up” awards or disproportionate salary increases. Investors have also warned [...]
Venture capitalism not politics was the brains behind Britain’s vaccine success February 24, 2021 The largely unsung hero – and perhaps the unlearnt lesson – of Britain’s vaccine success is venture capitalist turned government adviser Kate Bingham and how other venture capitalists like her can create the agile, entrepreneurial policies that ‘Global Britain’ needs. It was not politics as usual that allowed Britain to have the fastest vaccine rollout [...]
Anglo-Pacific snaps up Canadian cobalt resource for $205m February 24, 2021 London-listed miner Anglo-Pacific has today made its first push into cobalt with the $205m (£144.9m) acquisition of a share in a commodity stream at a mine in Canada. Under the deal, the firm will take control of a holding company that holds a 70 per cent interest in cobalt streams from the mine at Voisey [...]
Hyundai rolls out costly electric vehicle recall amid fire risk February 24, 2021 Hyundai will replace battery systems in 82,000 electric vehicles due to fire risks in one of the first mass replacements conducted by a major automaker. The move will cost around $900m and mostly concerns the Kona EV, Hyundai’s biggest-selling electric car. The Kona EV was first recalled late last year for a software upgrade after [...]
Lloyds to slash office space as it resumes dividend despite 72 per cent profit drop February 24, 2021 Lloyds resumes dividend despite 72 per cent profit drop as it unveils wealth drive
Why science, engineering and business must unite to protect our athletes and the sports we love February 24, 2021 The stadiums were echoing, the stands empty, but when normal life ground to a halt, many professional sportsmen and women played on. The spectacle gave the rest of us a dose of much-needed escapism. Watching from our locked-down homes, it was easy to imagine the athletes on-screen didn’t have a care in the world beyond [...]
London should not overlook SPACs, former LSE boss says February 24, 2021 The former London Stock Exchange boss, Xavier Rolet, has declared London should consider blank-cheque vehicles following a surge of activity in the US. A number of big names, including Rolet himself, have jumped on the SPAC craze which is sweeping the US. SPACs – special acquisition companies- are created to raise capital through a public [...]
Super-rich opt for London despite temporary exodus amid pandemic February 24, 2021 London’s standing as a home for the super rich to live, invest and do business in has been unchanged during the pandemic.
