City Moves: Who’s switching jobs in the Square Mile today? City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Akin Gump US law firm Akin Gump has hired a partner to the firm’s London office who will work closely with the private equity and corporate M&A teams. Stephen Brown, who will also work with the tax team in the [...]
Alphawave dishes out $25m in first acquisition following London IPO London Stock Exchange Alphawave has bought telecoms firm Precise-ITC for some $25m – its first acquisition since it debuted on the London Stock Exchange earlier this year. The deal for the Canadian ethernet and optical communications company, which is expected to close in January and contribute to next year’s revenue, intends to supply Alphawave customers with integrated IP [...]
Apple cautions suppliers of sliding demand – but heads for sales of $117bn chip shortage Apple has reportedly warned suppliers of sliding demand for its latest iPhone 13 – though the technology giant is still headed for a record Christmas quarter. Reports of the alleged caution prompted investors to duck out of the stock, leaving its share price down more than three per cent to $159.59 a share. Shares had [...]
Truss doubles down Ukraine support in meeting with Russian counterpart December 2, 2021 Foreign secretary Liz Truss has met with her Russian counterpart today to double down on support for Ukraine. Russia, which annexed Crimea from Ukraine in 2014, has been accused of trying to destabilise its eastern European neighbour state. “The Foreign Secretary expressed concern about rising tensions across Europe and re-stated the UK’s support for Ukraine’s sovereignty and territorial integrity, [...]
Government cuts deals with Pfizer and Moderna for 114m vaccines December 2, 2021 The government has cut a deal with vaccine makers for millions of new jabs, as Pfizer’s boss predicts that booster jabs are here to stay. The deal for 114m Pfizer/BioNTech and Moderna jabs has secured doses for next year and 2023. It seeks to “future proof” the UK’s immunisation programme, health secretary Sajid Javid said [...]
City Moves: Who’s switching jobs in the Square Mile today? December 2, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. JP Morgan JP Morgan Asset Management hired a global head of investment stewardship to lead in Europe, the Middle East and Africa at the beginning of the year, and yesterday expanded the role. In the newly created [...]
Tinder owner’s pockets charred following $441m settlement with founders December 1, 2021 Match Group, the media titan behind Tinder, has agreed to fork out $441m to settle a lawsuit from the dating app’s founders. Co-founders Sean Rad and Justin Mateen claimed that they had been swindled out of a substantial amount of cash by Match, after they were bought out in 2017. The court battle began in 2018 when the [...]
Covid-19 test maker Abingdon Health shares dive over 27 per cent as it plots placing December 1, 2021 Covid-19 test maker Abingdon Health had its share price plunge today after it confirmed it would shed a hoard of shares. Shares sank more than 27 per cent by market close, to 27.5p per share. Abingdon had proposed a placing of around 14.8m shares at 25p per share, in a bid to raise some £3.7m [...]
London’s Oxford Cannabinoid Technologies to launch twin US listing December 1, 2021 London-listed Oxford Cannabinoid Technologies (OCTP) is set to open a twin listing in the US to ensure investors have “easier access”. Investors were seemingly pleased with the move, as OCTP’s share price surged 17.9 per cent by mid-afternoon. Landing on the US’ OTC Equity Market under the ticker OCTHF, the cannabinoid pharmaceutical firm said that [...]
Drax to double biomass sales and capacity by 2030 as world pivots away from coal December 1, 2021 Power generation giant Drax is looking to double its biomass sales and capacity by 2030, as the world attempts to pivot away from coal. Shares jumped more than 10 per cent to 605.5p per share by mid-afternoon. The goal will see Drax turn the UK’s largest renewable power station into what it says will be [...]
