Elon Musk’s space broadband service Starlink to go public once revenue is ‘predictable’ June 24, 2021 Elon Musk’s satellite-based broadband service Starlink, part of his space venture SpaceX, will go public once its revenue is ‘reasonably predictable’. Taking to Twitter, Musk – who sits at the helm of several high-tech companies – added that “going public sooner than that would be very painful”. SpaceX is building a new factory in Texas [...]
Fintech firm Wise to directly list on the London Stock Exchange in early July June 24, 2021 Fintech firm Wise has confirmed it will float on the London Stock Exchange with a direct listing, it said in a statement this morning. The payments group, formerly known as Transferwise, had previously made an announcement on 17 June of its expected intention to float. “Since announcing our expected intention to float last week, [...]
Delta variant: Angela Merkel urges European countries to quarantine incoming Brits June 23, 2021 Chancellor Angela Merkel has said today she wants more European countries to follow suit in Germany’s rule to quarantine travellers coming from Great Britain. Speaking at what many believe to be her last Q&A as chancellor, she said that those entering European states from countries with high levels of the Delta variant should need to [...]
Brexit anniversary: UK still divided but lean towards Remain, poll says June 23, 2021 Despite the Brexit vote being five years ago today, people are equally divided on the issue but now lean towards remaining inside the European Union, according to a new poll. The survey, by public policy consultancy Savanta ComRes, found that while people’s opinions were largely the same, the votes swung towards a slim win for [...]
Warren Buffett resigns from the Gates Foundation, donating $4.1bn as departing gift June 23, 2021 Warren Buffett has resigned as a trustee of the Bill and Melinda Gates Foundation, to put his focus onto his positions at US conglomerate Berkshire Hathaway, which owns Duracell and Dairy Queen. As a departing gift, Buffet – who is worth around $105.3bn according to Forbes – will donate $4.1bn to the foundation. The billionaire is [...]
Dominic Raab meets with Cambodian officials to discuss trade and COP26 June 23, 2021 Foreign secretary Dominic Raab has met with his Cambodian counterpart today, as the UK leans towards trade pursuits in the Asia-Pacific region. In the first meeting with a British foreign secretary since 1953, Raab will speak with Cambodian foreign minister Prak Sokhonn in Phnom Penh, the country’s capital. Raab landed in Hanoi, Vietnam earlier in [...]
City Moves: Who’s switching jobs in the Square Mile this week? June 23, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Barclays Corporate Banking appoints new head of real estate Barclays has appointed a new head of real estate for corporate banking this week, following the retirement of the former-lead. Jason Constable, [...]
Square Mile offices and homes to be warmed with heat from over 650ft below its streets June 23, 2021 In a bid to make London’s Square Mile more sustainable, its homes and offices will be warmed by drawing heat from over 650ft below the streets of the City. As one of the largest low-carbon heating systems in the UK, which forms part of a £4m scheme, the system will produce the same amount of [...]
‘Science superpower’: UK to pump £64m into post-pandemic clinical research June 23, 2021 The government has pledged a £64m injection into the UK’s clinical research system, off the back of Boris Johnson’s plans to make the country a “science superpower”. The investment will go towards the development and trial of new Covid-19 treatments and inoculations, to ensure a “front-footed approach in tackling the virus”, health secretary Matt Hancock [...]
Krispy Comeback: Krispy Kreme to return to US stock market, eyeing $4bn IPO June 23, 2021 Krispy Kreme is eyeing a valuation of nearly $4bn in a US initial public offering (IPO), a regulatory filing has revealed, as it plots a stock market comeback. The doughnut chain appears to have its sights set on a listing amid a booming US IPO market, looking to capitalise on the markets record activity. The [...]
