EU demands 120m AstraZeneca jabs by end of June as second legal case begins May 11, 2021 The European Union wants AstraZeneca to deliver at least 120m vaccine doses by the end of June, a lawyer representing the EU said today. EU lawyer Rafael Jafferali spoke in a Belgian court as proceedings started in the second legal case against AstraZeneca over delayed supplies. The pharma firm had originally agreed to deliver the [...]
Queen’s speech: Anger over social media safety laws as online scams excluded May 11, 2021 Campaigners have hit out at the government’s decision not to include scams in new legislation aimed at stamping out online harms. Plans to hold tech firms liable for harmful material posted to their platforms moved forward today after the Online Safety Bill was confirmed in the Queen’s Speech. The draft laws will force companies such [...]
Hedge fund ExodusPoint takes short position in Deliveroo after disappointing IPO May 11, 2021 Hedge fund ExodusPoint Capital Management has reportedly taken a short position in Deliveroo after the delivery firm’s disastrous market debut. The New York hedge fund’s bet makes up approximately 0.56 per cent of Deliveroo’s shares, Financial News reported. The short position, which could be worth as much as £26m based on its closing price, marks [...]
Extinction Refinancing: Banks are the next generation of climate activists withholding funding for carbon-heavy businesses May 11, 2021 Banks are unlikely to be the first group that comes to mind when thinking of climate activists. Although there is now immense and growing pressure on every area of the financial community to drive down emissions and lead the transition to a low-carbon economy, banks often seem to face the most scrutiny. A massive 92 [...]
Posh paint brand Farrow & Ball bought by Danish company in €500m deal May 11, 2021 Luxury paint and wallpaper company Farrow & Ball has been bought by Danish coatings manufacturer Hempel, in a deal that values the paint retailer at around €500m. Hempel bought Farrow & Ball from American private equity group Ares Management Corporation, which reportedly paid £275m for the company in 2014. Today The Financial Times first reported [...]
‘Can I give you lunch?’ David Cameron sent more than 40 messages to ministers and officials to lobby for Greensill May 11, 2021 David Cameron complained that a decision to exclude failed Greensill Capital from a government bailout programme was “bonkers” and “nuts” in a spray of more than 40 texts and emails to ministers and officials, new documents today revealed. Evidence compiled by the Treasury Select Committee for an inquiry show Cameron messaged ministers, Treasury civil servants [...]
British Airways owner IAG boosts liquidity with €800m convertible bond May 11, 2021 British Airways owner IAG is tapping investors for €800m to strengthen its balance sheet and take advantage of the easing of restrictions this summer. The FTSE-listed company has been hit hard by the pandemic with most of its fleet grounded due to travel restrictions. It has a weekly cash burn rate of €175m meaning its [...]
What’s in the Queen’s Speech? Five key announcements May 11, 2021 Today’s Queen’s Speech outlined more than 20 different pieces of legislation the government will look to implement over the next session of parliament. The Queen delivered the government-written speech in a stripped back affair this afternoon, just days after the Conservatives made significant gains in last week’s “super Thursday elections”. City A.M. outlined five key [...]
Regulating the robots – unpacking the EU’s new AI Regulation May 11, 2021 The European Commission recently publish a first draft of its new Artificial Intelligence Regulation (AI Regulation). The AI Regulation covers both Providers (i.e. developers) and business Users of AI systems. Providers have a broad set of obligations owed to Users. Under the AI Regulation, AI systems are categorised as: – Prohibited: certain “manipulative” and “exploitative” uses of AI are outlawed [...]
Government outlines new voter ID law and plan to give PM power to call early election in Queen’s Speech May 11, 2021 The government has outlined its plans to force voters to produce ID at polling stations and to give the Prime Minister back the power to call early elections in today’s Queen’s speech. The Queen said a suite of new government legislation “will strengthen and renew democracy and the constitution”, including “to ensure the integrity of [...]
