Business of Space: Can the relationship with Roscosmos ever be repaired? March 25, 2022 This week: Isotropic Systems on track for first commercial launches Space cooperation between Russia and Europe “destroyed” OneWeb goes on deal-making spree Isotropic Systems Satellite firm Isotropic Systems is on track for its first commercial launches this year, following the final successful round of testing its multi-link satellite tech. The ground terminal provider has developed technology which [...]
Kyiv accuses Moscow of pushing 400,000 Ukrainians into forced labour March 25, 2022 Ukraine has accused Moscow of forcibly removing more than 400,000 people from destroyed Ukrainian cities to Russia, to be used as bargaining chips. Ukrainian ombudsperson Lyudmyla Denisova said that hundreds of thousands, including 84,000 children, may be used as “hostages” to pressure Kyiv to surrender. Reports emerged earlier in the week that the Russian army [...]
‘Isolated status’ of Hong Kong pushes half of European firms to consider their exit March 25, 2022 Hong Kong’s pandemic-induced “isolated status” has pushed half of European businesses in the financial hub to consider packing up their bags, according to a new report. With firms unable to keep hold of staff, the city’s “ongoing ‘Zero-Covid’ strategy has come at a very high cost for Hong Kong’s business community,” the European Chamber of [...]
Medical cannabis facility headed for Kent following $100m investment March 25, 2022 A medical cannabis facility is headed for Kent, thanks to a record $100m investment by GW Pharmaceuticals. The new owner of the British pharma firm, Jazz Pharmaceuticals, will build factory at its existing site at Kent Science Park in Sittingbourne, The Times first reported. Following the $7.2bn takeover, more than 100 new, “highly skilled” jobs [...]
City Moves: Who’s switching jobs in the Square Mile? March 25, 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. Tilney Smith & Williamson Wealth management and professional services group Tilney Smith & Williamson, which is set to re-brand to Evelyn Partners in the summer, has bolstered its London financial planning with a new director. Francesca Allard, [...]
PM urges West to sanction Russian gold reserves as NATO warns of chemical weapons use March 24, 2022 Prime minister Boris Johnson has urged the West to press sanctions on Russia’s gold reserves, as NATO warns that the Kremlin-controlled state may be trying to create a climate for chemical weapons use. Johnson doubled down on his stance that the country had already “crossed a red line” during its unprovoked invasion of Ukraine, again [...]
BP to inject £1bn into EV infrastructure amid calls to ease ‘charging anxiety’ March 24, 2022 BP has reportedly tabled plans to triple the number of charging ports for electric vehicles (EV), amid calls for greater investment into EV infrastructure. The energy giant is aims to operations around 24,000 charging points in Britain by 2030, under a fresh £1bn investment plan due to be unveiled this week, the Financial Times first [...]
Bridgepoint shares surge on swelling revenue and managed assets post-IPO March 24, 2022 During its first year on the London Stock Exchange, Bridgepoint’s revenues have grown more than 40 per cent. The private equity giant listed in September last year in a highly anticipated £2bn float. The London-headquartered firm has also seen assets under management swell nearly 24 per cent to €32.9bn (£27.3bn) in the year to 31 [...]
Share price jump: Eurowag revenue jumps more than third but profits trail behind March 24, 2022 Pan-European payments platform Eurowag has enjoyed a revenue bump of more than a third in the past year, though pre-tax profits trail behind. The transport-focussed platform, which raised €200m (£171m) in its initial public offering (IPO) in London last year, snagged €1.6bn (£1.3bn) in revenue in the 12 months to 31 December. The climbing [...]
Hong Kong to soon ‘open up to world’ just as Singapore eases its own restrictions March 24, 2022 Hong Kong is looking likely to “open up to the rest of the world” once its latest Covid-19 wave fades, before the lights of Singapore grow too tempting for corporate expats. Hong Kong leader Carrie Lam said she is “very optimistic” the financial hub will soon pull off pandemic restrictions which have blanketed the city [...]