The UK’s ‘Brexit-proof’ tech startups land Christmas number one for European funding December 20, 2018 British tech firms brought in more funding from venture capital firms than any other country in Europe in 2018, as well as achieving the highest amount of exits. Startups in the UK attracted £6.3bn in venture backing this year, according to new figures released today by Tech Nation and Dealroom. In the same period, the [...]
Nex Group founder Michael Spencer to invest millions in blood testing startup December 20, 2018 Nex Group founder Michael Spencer is set to invest millions in a pioneering blood testing company. Spencer’s private investment company will subscribe to a “significant” amount of shares being issued by Osler Diagnostics in its £30m funding round, Sky News reported. The fundraise, which is expected to value the firm at £70m, is set to [...]
Outsourcer Kier Group’s lenders face underwriting headache after rights issue flounders December 20, 2018 Kier Group’s shares were down 6.49 per cent today after it admitted investors only bought 38 per cent of the new shares it had issued as part of a fundraising effort. The beleaguered outsourcer's banks will now be forced to fork out millions to buy shares in Kier, after some of its biggest investors opted [...]
Kier leads the FTSE’s morning fallers after investors shun call for cash December 20, 2018 Shares in outsourcing group Kier fell by almost 15 per cent as markets opened this morning, after the firm revealed that investors only bought 38 per cent of the new shares it had issued as part of a fundraising effort. Kier announced last month that it would turn to the market in a heavily-discounted share [...]
Flights to continue between UK and EU for 12 months in event of no-deal Brexit December 19, 2018 The EU has said flights from the UK into and over the EU would be allowed for 12 months to enable "basic connectivity" if the UK leaves the bloc without a deal. Following the government's announcement yesterday that it was ramping up its preparations for leaving the EU without a deal, the EU has issued [...]
Royal Bank of Scotland lines up female interim chief financial officer for permanent role, reports December 18, 2018 Royal Bank of Scotland (RBS) reportedly is on the cusp of shaking up the male-dominated boardrooms of the country’s biggest banks by naming interim chief financial officer (CFO) Katie Murray as its permanent head of finance. The bank is waiting for approval by banking watchdog the Prudential Regulation Authority (PRA) before naming Murray as CFO, [...]
Interserve considers handing off building materials unit to lenders in debt-for-equity swap December 16, 2018 Interserve is tomorrow expected to break its silence on rumours it may sell off its £250m building materials unit, RMD Kwikform, to the holders of its debt. The public sector outsourcing giant, which builds schools and hospitals, is reportedly considering the sale in order to secure its future as it risks drowning in a £650m [...]
Billionaire Mike Ashley and The Entertainer may bid for iconic toy store Hamleys December 14, 2018 Sports Direct owner Mike Ashley and British toy retailer The Entertainer are among the bidders interested in a takeover of Hamleys, according to a report. The world's biggest toy shop has been owned by Chinese fashion conglomerate C.banner since 2015, but Sky News reported this morning that bids are now being considered for an acquisition [...]
Brits face paying for a visa waiver to travel to the EU after Brexit December 14, 2018 Brits travelling to the EU after Brexit face a €7 (£6.30) fee to holiday abroad without a visa, it is reported. The charge will come in in 2021, when Britain’s two-year transition period with the EU ends and the UK officially leaves the EU. If the UK’s transition period is extended beyond 2021, then the [...]
Mark Kleinman: Come in Houston, just as UK audit reforms bite December 14, 2018 Talk about a hospital pass. Richard Houston, Deloitte’s consulting chief, might be forgiven for feeling a bit like Theresa May this week. Houston’s is the solitary name on a ballot open to partners at the Big Four accountancy firm’s UK operation as it seeks to elect a successor to David Sproul, its chief executive for [...]