Conviction Life Science to float in London to pounce on undervalued biotech firms December 6, 2022 Investment fund Conviction Life Science will float in London in an £100m IPO to capitalise on a stream of undervalued biotech and pharma firms, its investment chief told City A.M. yesterday. While the UK is home to Nobel-winning science, the industry gets a bad rap for being too risky and lossmaking. The company had mulled [...]
Ashtead to ‘capitalise’ on economic downturn as it hikes revenue forecasts December 6, 2022 British industrial equipment rental company Ashtead has hiked its revenue forecasts for the full year as it sails through raging inflation. The London-listed group said it has the “flexibility to capitalise on the opportunities arising from the market and economic environment we face, including supply chain constraints, inflation and labour scarcity, all factors driving ongoing [...]
City Moves: Who’s switching jobs in the Square Mile? December 6, 2022 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. Russell-Cooke Law firm Russell-Cooke has built out the French desk within its London-based private client practice with a new partner. Nicole Gallop Mildon brings expertise to all aspects of private wealth including estate planning, wills, probate and [...]
Investors lose interest in supply chain tech as pace of onshoring quickens December 5, 2022 Venture capital investment into supply chain focused technology has significantly slowed in the past few months, following a pandemic-era boom. Startups around the world injected $3.3bn (£2.6bn) to the industry in the third quarter, down more than 77 per cent in comparison with the same months a year ago, according to data research firm Pitchbook [...]
Faith in UK housing market to be restored in new year with M&A on the horizon December 5, 2022 Faith in the UK’s housing market is expected to be slightly restored in the new year, as mortgage rates slow their climb and cancellation rates cool. A rise in mergers and acquisitions (M&A) within the sector may also be on the horizon, according to research at brokerage Jefferies. In a note today, researchers said they [...]
Avon Protection sells off US facility as it winds down armour-making business December 5, 2022 Avon Protection, which makes military and police gear, has sold off a US-based manufacturing facility as the British company winds down its armour-making business. The deal with CoorsTek, Inc., a manufacturer of advanced ceramics materials for the aerospace and defence industries, is expected to wrap up in the second half of next year. Bruce [...]
GSK makes headway with two cancer drugs after double-barrelled setback last month December 2, 2022 GlaxoSmithKline (GSK) is making “significant” headway with two of its cancer drugs, following a double-barrelled setback in its oncology efforts last month. The British pharmaceutical giant’s bone marrow cancer treatment Momelotinib this morning received marketing approval from the European Medicines Agency, following an application to the FDA in the US in August. If approved by [...]
Wizz Air pandemic turnaround well underway as passenger numbers fly December 2, 2022 Wizz Air’s pandemic turnaround is well underway, with passenger numbers increasing soaring in the past year. The European carrier carried 3.6 million passengers in November, representing a 70 per cent increase compared to November 2021. In the past 12-months, Wizz Air has carried 44.1 million travellers – a rise of more than 120 per cent. [...]
City Moves: Who’s switching jobs in the Square Mile this week? December 2, 2022 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. Heathrow Express Heathrow Express has appointed a new director and business lead, who rejoins after a three-year hiatus. Daniel Edwards previously led the Heathrow VIP commercial team before becoming head of retail categories. Edwards, who launched its [...]
China hints at easing ‘zero-Covid’ approach following widespread protests December 1, 2022 China’s stance to Covid-19 is at a crossroad, following mass protests against its zero-tolerance approach to cases of the virus. One of the country’s most senior pandemic response officials said last night that China is entering a “new stage and mission”. According to state media, Sun Chunlan, China’s vice premier, said: “With the decreasing pathogenicity [...]
