EY ditches split plan after opposition from US unit April 11, 2023 EY has ditched its plan to split its audit and consulting businesses following opposition from its US unit. The firm’s global executive committee relayed the decision to partners in a note today. The Big Four firm had put its plan to separate its audit division from its consulting business, dubbed ‘Project Everest’, on hold following infighting [...]
New investment trust plots £100m IPO in boost for London April 11, 2023 A new investment trust has revealed plans for a £100m float on the London Stock Exchange today in a boost to the capital’s markets after a barren start to the year. Ashoka WhiteOak Emerging Markets Trust announced this morning that it would list a new investment vehicle that to back quoted firms that provide exposure [...]
London IPO market slows to a crawl in 2023 as analysts warn ‘challenging’ times to come April 11, 2023 London managed only five IPOs in the first quarter of 2023, raising just £81m as the City’s flagship exchange struggles to attract new participants. The main market saw only two IPOs, from Dar Global and Streaks Gaming. The two IPOs raised a combined £63m, with £60m of that coming from luxury real estate firm Dar [...]
Adnams Brewery in discussions about leaving under-fire CBI April 6, 2023 Adnams Brewery is in discussions about leaving the under-fire Confederation of British Industry (CBI) after a string of sexual misconduct allegations broke. Chief executive Andy Wood told BBC Radio 4 his firm were holding conversations about withdrawing from the trade body. It follows a host of corporate members, including EY and Rolls Royce, who pay [...]
Numis revenue to fall 14 per cent as it maintains a gloomy outlook for 2023 April 3, 2023 City broker Numis said today that its revenue has taken another hit from weak capital markets as it warned that things are unlikely to improve this year. In a trading update, Numis said revenue in the first half of the 2023 financial year is expected to be about £64m, around 14 per cent lower than [...]
Recharge looks to rehire former Britishvolt execs as rescue deal falters April 2, 2023 Recharge has been holding talks with two former top executives amid concerns its attempt to rescue Britishvolt is faltering.
Can the government’s green finance plans really get investment flowing? March 31, 2023 The government’s delayed plans to boost investment into the country’s net zero transition have divided opinion in the City today, with campaign groups and firms warring over whether the plans go far enough in their scale and ambition. Among the measures announced are a number of reviews and policy consultations designed to kick on the [...]
How a £50bn pension super fund with an appetite for UK innovation could help make the City great again March 27, 2023 The UK’s pension funds should pool their assets in a £50bn ‘future growth fund’ or more firms will continue to shun London and list overseas, the Lord Mayor of London has warned today.
EY chief says it’s still too early to say whether split plan can be rescued March 23, 2023 The head of EY’s US business has said it is still too early to say whether the accounting giant’s global split will go ahead in its current form or whether the plan might have to be reworked. Julie Boland told the Financial Times it would be “premature” to predict whether EY’s current plan to split [...]
Carbon credits and the reshaping power of blockchain March 19, 2023 Jonny Fry asks if blockchain technology can be used to create a more transparent and efficient carbon credits market?