Japanese billionaire joins growing list of wealthy entrepreneurs heading for space December 8, 2021 Japanese billionaire Yusaku Maezawa has today joined the growing list of wealthy entrepreneurs in heading to space. Maezawa’s first launch, which will see him spend 12 days on the International Space Station, forms part of his goal to go to the Moon on SpaceX’s Starship in 2023. On the trip, via a Russian rocket, the billionaire [...]
Nestlé to shed 22m L’Oréal shares as part of new £16bn buyback program December 8, 2021 Nestlé is set to shed around 22m L’Oréal shares, as part of a share buyback program worth more than £16bn (CHF 20bn). The consumer goods giant will have reduced its stake in the beauty group to 20.1 per cent once the transaction has been finalised. The shares sale is expected to pull in some £7.5bn [...]
Hargreaves Services profits lift as it weathers revenue dip after ditching coal December 8, 2021 Hargreaves Services has weathered a revenue dip after ditching its coal trading activities last year – which has been slightly offset by its profit before tax growth. The firm, which works across industrial and property sectors, said the jump in profit before tax has been secured by each of its three business divisions. The board [...]
City Moves: Who’s switching jobs in the Square Mile today? December 3, 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. 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 December 2, 2021 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 December 2, 2021 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 [...]