City watchdog chief doubles down on cryptocurrency clampdown September 22, 2021 The chief of the City watchdog has doubled down on it stepping up oversight of high risk cryptocurrency products and firms engaging in severe misconduct. In a speech delivered at the Lord Mayor’s City Banquet at Mansion House, Nikhil Rathi, chief executive of the Financial Conduct Authority (FCA), said the regulator will apply “a bolder [...]
British company inks Japan electric aircraft deal worth up to $800m September 22, 2021 A British manufacturer, leading the transition to carbon free aviation, has inked a deal to introduce its flagship electric aircraft to the Japanese market. Bristol based Vertical Aerospace has agreed a partnership with Marubeni Corporation, a leading Japanese trading and investment conglomerate to explore sustainable, emissions free aircraft. City A.M. understands the deal could be [...]
Activist investor Bluebell takes stake in GSK to oust embattled chief exec September 22, 2021 The activist investor Bluebell Capital Partners has bought a stake worth €10m (£8.6m) in GlaxoSmithKline in a bid to shake up the pharmaceutical company’s leadership. Chief Executive Emma Walmsley has already seen off an attack from activist investor Elliott Management which urged GSK to name new board directors and launch a review of her leadership in [...]
US Fed to rein in bond buying soon but keeps rates steady September 22, 2021 The US Federal Reserve held rates at record lows today, but did formally recognise it will likely rein in bond buying this year. The Federal Open Market Committee (FOMC) kept rates unmoved at 0-0.25 per cent, but said if the economy continues on a positive trajectory, it “judges that a moderation in the pace of [...]
Trader sues UBS over stress induced mental health issues September 22, 2021 A UBS Group trader is suing his employer claiming the “toxic” London work environment and “punishing workload” caused his mental health to deteriorate. Simon Rope, who has been unable to work since suffering a breakdown in 2018, is claiming upwards of £200,000 for negligence over an anxiety disorder which was caused by “the stress to [...]
Robinhood shares jump nine per cent as crypto wallet confirmed September 22, 2021 Robinhood, the investor trading platform made infamous by the Gamestop incident, has announced it will roll out crypto wallets to customers amid surging demand. The trading platform, which lets non-professional investors purchase options, shares and crypto through its flagship mobile app, saw cryptocurrency transactions volume surge from to $233m in the second quarter of 2021, [...]
Trader sues UBS over stress induced mental health issues – CityAM : CityAM September 22, 2021 A UBS Group trader is suing his employer claiming the “toxic” London work environment and “punishing workload” caused his mental health to deteriorate. Simon Rope, who has been unable to work since suffering a breakdown in 2018, is claiming upwards of £200,000 for negligence over an anxiety disorder which was caused by “the stress to [...]
Covid-19 vaccine maker Oxford Biomedica posts “record” revenue surge September 22, 2021 Gene and cell therapy group Oxford Biomedica has recorded “record” results in the past six months, boosted by its Covid-19 vaccine manufacturing with AstraZeneca. Revenue surged 139 per cent to £81.3m in the six months to 30 June, from £34m in the same period last year – mainly due to its bioprocessing and commercial [...]
FRC calls for businesses to better report longer-term viability for investors September 22, 2021 The Financial Reporting Council (FRC) has called for businesses to better report their longer-term viability and liquidity to investors – particularly during times of economic uncertainty. It forms part of the financial watchdog’s findings in a review of companies’ viability and concern disclosures amid the Covid-19 pandemic, which has pushed heightened levels of market [...]
Good day: Dapper Labs raises $250m and strikes deal with La Liga September 22, 2021 The company behind NBA Topshot, Dapper Labs, has closed a $250m (£183m) funding round and announced a new deal with the Spanish football league. In addition to creating some of the NFT world’s most popular games Dapper Labs has built its own blockchain, known as Flow, to process high transaction volumes at speed. Today’s funding [...]
