Coinbase HQ move to London could happen in the future, CEO says April 18, 2023 The chief executive of cryptocurrency exchange platform Coinbase said today that switching its headquarters to the UK was “on the table” if the regulatory regime does not improve in the US. In response to a question asking whether the firm could move its headquarters to the UK, chief executive Brian Armstrong replied saying “anything is [...]
How do you value a football club? Why luxury brands may hold the secret April 3, 2023 It is a question playing on the minds of Sir Jim Ratcliffe, Sheikh Jassim Bin Hamad Al Thani and Manchester United’s other suitors. The Glazers have already come up with their own answer, while Todd Boehly and Clearlake Capital had to grapple with it before buying Chelsea last year. How exactly do you value a [...]
WANdisco CEO and CFO quit as investigation finds $115m of false sales April 3, 2023 The chief executive and finance boss of troubled tech firm WANdisco have stepped down today after an investigation found that $15m of revenues and $115m of sales last year were completely made up. Sheffield-based WANdisco suspended trading on the London Stock Exchange in March after an internal investigation uncovered “potentially fraudulent irregularities” on its books, [...]
Mark Austin interview: The City needs a culture change – we have to celebrate success March 30, 2023 The City of London is at an “inflection point” reckons the man who wrote last year’s capital raising review – but a year on, with Arm gone and others plotting New York floats, there remains much to do You’d be forgiven for thinking the Square Mile is in rather dire straits at the moment. Firms [...]
Succession star Brian Cox opened financial markets at London Stock Exchange March 24, 2023 Succession star Brian Cox swapped TV for LSE this morning, as the actor behind Logan Roy opened the London Stock Exchange. Ahead of the much-vaunted fourth and final season of the show on 27 March, the Scottish actor opened financial markets accompanied by a musical quartet playing the series’ iconic theme tune. Speaking after opening [...]
Can Tulip Siddiq get Labour’s City plans blooming? March 23, 2023 Labour's Shadow City minister talks facing off against her opposite number and the struggle for the Square Mile.
Another British tech firm opts for a New York listing as UK’s science superpower dreams fade March 21, 2023 A Cheshire biotech start-up led by a former NHS doctor has floated in New York today after snubbing London’s market due to a dearth of specialised investors. Zura Bio, led by Oxford graduate Dr Someit Sidhu, announced it had merged with special purpose acquisition company (SPAC) JATT acquisition corp this morning in a deal that [...]
Why pension funds might not be to blame for the UK’s capital market decline March 21, 2023 Pension funds have taken on an interesting new role in the City psyche over the past year. Once just guardians of the country’s retirement cash, they have morphed into punch bags on which to unleash frustration at the UK’s capital market decline. A sort of anti-growth coalition unwilling to back home-reared equities and believe in [...]
Prudential: Insurance giant vows to stay listed on London stock exchange after posting uptick in profits on pivot to Asia March 15, 2023 Prudential today confirmed it intends to remain listed in the City following speculation the 175-year-old insurer had plans to switch the the London Stock Exchange for New York. A spokesperson for the insurance giant today confirmed to City A.M. the firm has “no plans” to exit the London Stock Exchange. It comes after Prudential today [...]
As a new FCA chair steps up, we need a crack down on offshore firms’ lax rules March 14, 2023 Hopefully, guided by a new chair, the FCA will make progress in holding offshore firms who don't follow the rules to account, writes Sadiq Bhatti