Pantheon Infrastructure raises £400m in over-subscribed IPO November 11, 2021 Pantheon Infrastructure said this morning it has raised £400m of fresh capital at its IPO, with a share price of £1 per share. The company had initially set a target of around £300m, so the firm said it is “very pleased” with the result. During the raise, Investec Bank had come on board to arrange [...]
Awards 2016 October 26, 2021 The City A.M. Awards for 2016, held at the glitzy Grange hotel opposite St Paul’s Cathedral, saw 14 individuals or businesses collect gongs in front of a star-studded audience of around 500 City figures. Our congratulations go to all the winners who stood out during 2016 for their exceptional work. The event, however, is not [...]
Burger King UK prepares for whopper £600m London listing October 10, 2021 Fast-food chain Burger King is preparing to float on the London Stock Exchange for around £600m, according to reports. Burger King UK is understood to be in advanced discussions with potential advisers, including Investec and Numis bankers, as the company readies itself to list next year, according to The Times, which first reported the news. [...]
FTSE 250 group Investec expects 125 per cent UK profit growth September 23, 2021 Wealth manager and banking group Investec has raised its earnings guidance following a rebound in revenue, with its UK wealth division growing 9 per cent to £45bn. The Group said its UK business’ adjusted operating profit are now expected to be at least 125 per cent higher than the first half of 2021. The Anglo-South [...]
Cloudy outlook to prompt MPC to hold fire on rates and QE September 23, 2021 A slowing economic recovery from the Covid-19 crisis, sharp energy price rises and tax hikes squeezing Brits’ household incomes are likely to prompt the Bank of England’s committee of rate setters to err on the side of caution today. The Bank’s monetary policy committee (MPC) will announce its latest decision on rates and the fate [...]
Boris Johnson’s endurance on immigration will be put to the test by labour shortages September 22, 2021 I always loved interviewing Stuart Rose. He was great company and if you stayed quiet long enough after asking a question, he’d give you a quote that made his press officers wince. Unfortunately for the former M&S chief, his honesty caused his downfall in Westminster when – as a Remain supporter during the Referendum campaign [...]
Self-isolation nation: Recovery sluggish as GDP climbs 0.1 per cent in July September 10, 2021 The UK economy grew just 0.1 per cent in July as the post-Covid recovery continued to slow. New official figures released this morning showed a significant fall from June’s one per cent growth, with the economy still 2.1 per cent below its pre-pandemic peak in February 2020. Chancellor of the Exchequer, Rishi Sunak remained positive [...]
Insurtech Marshmallow reaches $1.25bn valuation and becomes UK’s second black-founded unicorn September 8, 2021 Digital car insurance provider Marshmallow has smashed the $1bn threshold after its latest Series B funding round, making it the second UK unicorn with founders of Black heritage. Marshmallow’s latest cash injection of $85m values the insurtech at over $1.25bn (£907m), joining the ranks of other recent UK unicorns Starling Bank, Gousto, Zepz and Zego. [...]
‘We’re in a great place’: Frontier Developments charts robust growth despite release hiatus September 8, 2021 Shares in Frontier Developments rose this morning after the video game publisher hit its target full-year sales despite no new releases and the board projected strong 2022 growth due to its “strongest ever” games roadmap. The AIM-listed firm reported a pre-tax profit of £19.2m in the year to the end of May, up 20 per [...]
Stamp duty taper triggers dip in mortgage approvals August 31, 2021 Mortgage approvals declined over the last month as the tapering of the stamp duty holiday deterred Brits from pushing ahead with homepurchases, according to official data published today. Data from the Bank of England shows there were 75,152 mortgage approvals in July, the first full month after the stamp duty taper, down from 80,272 in [...]