IPO: Lightweight and portable oxygen tank maker to list in London May 28, 2021 Belluscura, a medical device developer that focuses on lightweight and portable oxygen technology, will today debut on London’s AIM market. The company, which was established in the UK in 2015, expects to be worth nearly £51m following admission to the stock exchange. It has conditionally raised £17.5m via share allocation prior to the placing. Belluscura’s [...]
UK mulls a carbon tax on polluting imports May 28, 2021 The Prime Minister is considering a carbon tax on imports that would hinder companies outsourcing their emissions and also protect farmers and local producers from being undercut from low-regulation rivals.
Breakthrough saliva test detects Covid in 5 minutes May 28, 2021 Researchers in Australia have developed a new Covid-19 test which can give results in just five minutes. The prototype, which uses a portable instrument to detect the virus in saliva samples, has been developed by Monash University in Melbourne and the Peter Doherty Institute for Infection and Immunity. After patients dribble into a sterile container, [...]
Culture wars: Brits reckon divisions are ‘exaggerated but real’ May 28, 2021 Three-quarters of the public think divisions around the so-called culture wars are exaggerated by the media – but Brits still think there’s a problem. A new study published today revealed that 77 per cent of Brits believe the media often makes the country feel more divided than it really is, with a third saying they [...]
Bitcoin buoyancy is driven by popular mass delusion but the madness will keep making money May 28, 2021 In 1841, the journalist Charles Mackay published Extraordinary Popular Delusions and the Madness of Crowds, his masterpiece. In it, he chronicled the economic bubbles and mass delusions that have plagued mankind across the ages. “Men… go mad in herds,” he warned, “while they only recover their senses slowly, and one by one.” The cryptocurrency Bitcoin [...]
Post-Brexit listing: Czech payment giant Eurowag planning £1.4bn IPO in London May 27, 2021 Private equity firm TA Associates is planning to list Czech Republic-based W.A.G. Payment Solutions, better known as Eurowag, on the London Stock Exchange, two sources told Reuters this evening. If the listing goes ahead, it would be seen by many as a reaffirmation of London’s attractiveness to European companies in the aftermath of Brexit. The [...]
Exclusive: City of London Police’s asset forfeitures jump by 3,600 per cent as priority shifts to higher-value fraud May 27, 2021 The City of London Police issued Account Freezing Orders and Account Forfeiture Orders against assets worth £36m last year, compared to less than £1m in 2019, a jump of 3,600 per cent, according to research by law firm RPC, exclusively shared with City A.M. this evening. Account Forfeiture and Account Freezing Orders allow authorities to [...]
Global Britain: China overtakes Germany as UK’s biggest import market post-Brexit May 27, 2021 Germany is no longer Britain’s most important import market. For the first time since modern records began, the UK imported more goods from another country: China. During the first quarter of this year, the UK spend £16.9bn on Chinese goods, a jump of 66 per cent in the last three years, according to newly released [...]
Post-Brexit: One in three UK businesses lost £66k in cross-border payments so far May 27, 2021 More than one in three UK businesses have lost revenue from cross-border card payments post-Brexit. New data shared with City A.M. reveals that the average revenue lost from cross-border card payments post-Brexit is £66,812. Just under one in five businesses lost between £10,000 and £50,000, while one in ten lost up to £1m, according to [...]
Brexit: ECB to crack down on ‘desk mapping’ in London to drive more bankers and capital to the EU May 27, 2021 The European Central Bank is ramping up efforts to push more management and capital out of the City and Canary Wharf, into the EU. The central banking authority plans to scrutinise and crack down on so-called ‘desk mapping’ – or ‘back-to-back booking’ – to determine whether banks’ key staff, capital and book trades used by [...]