Hikma makes strong start to year, receives approval for opioid treatment April 30, 2021 Hikma Pharmaceuticals today said it has received approval to launch its new KLOXXADO nasal spray for the emergency treatment of opioid overdose. Delivering a trading update, the company reported a strong start to 2021, helped by its injectables, generics and branded divisions meeting expectations. Hikma expects its full year generics revenue to be towards the [...]
Exclusive: UK private equity firms pool £20bn fire power as they circle higher value targets April 29, 2021 The total value of UK private equity club deals reached £19.7bn last year, a fourfold increase from the £4.5bn in 2019. Moreover, the number of club deals has reached a three-year high as there were 56 deals in 2020, a jump of 30 per cent from 43 the year before, according to new data that [...]
Barclays faces shareholder revolt over fossil fuel investments as AGM approaches April 29, 2021 Barclays is facing a second consecutive shareholder resolution concerning its position as Europe’s largest fossil fuel financier. Investors are increasingly drawing attention to the shareholder resolution due to be voted on at the bank’s Annual General Meeting next week, on Wednesday 5 May. A letter from investors with more than $4 trillion of funds urged [...]
Exclusive: Scrapping paper documents could boost UK trade by £25bn April 29, 2021 Digitising business and removing tens of millions of paper documents would boost small British businesses’ overseas trade by £25bn over the next four years, according to new research. A report by the International Chamber of Commerce (ICC), seen by City A.M., argued that UK firms were trapped in the “bureaucracies of the 16th century” and [...]
Indeed: Highest paying jobs are seeing the least competition April 29, 2021 As restrictions ease, the UK’s job market has been slowly pulling itself together after a rocky year and according to jobs site Indeed, some of the highest paying roles are seeing the least competition. New figures by Indeed revealed that while recruitment is picking up speed, job postings are still 10 per cent below pre-pandemic [...]
City Moves: Who’s switching jobs in the Square Mile this week? April 28, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Cazoo bolsters board after $7bn NYSE listing After its $7bn New York Stock Exchange listing through its AJAX merger, UK online car retailer Cazoo has confirmed that a new non-executive director [...]
LinkedIn: Barclays, Tesco and NatWest ranked top three UK workplaces April 28, 2021 Barclays has been crowned the best company to work for, followed by Tesco and NatWest, according to LinkedIn’s list of the 25 top workplaces in the UK. The list ranks workplaces on their capacity to build and sustain a long-term career and have been compiled based on actions taken by the platform’s 30m UK members [...]
Credit Suisse’s ravaged reputation is salvageable but it will be a long slog April 28, 2021 Credit Suisse faced the music again last week. The Swiss bank posted a devastating first quarter loss of £593million after the dramatic collapse of US hedge fund Archegos. The bankruptcy was hot on the heels of the downfall of financial firm Greensill. The bank’s chief executive, Thomas Gottstein, branded the loss “unacceptable”. Even as it [...]
Telegraph profit jumps as pandemic boosts subscriber numbers April 27, 2021 The Telegraph has booked a sharp rise in profit for the year as continued growth in subscriber numbers helped to offset a wider downturn in newspaper revenue during the pandemic. Telegraph Media Group (TMG), which publishes the Daily Telegraph, Sunday Telegraph and Telegraph website, posted operating profit of £28.3m in 2020 — up 76 per [...]
Bank earnings preview: What to expect in this week’s quarterly results April 26, 2021 While the banking sector has recovered somewhat in the past two months this week the issue of bad loans and customer defaults will be front of mind. The sector set aside billions in provisions for bad loans at the start of the pandemic, expecting a huge increase in defaults. However with thanks to government support [...]