Big Shoes: City of London Corporation deputy chair frontrunner to succeed Catherine McGuinness November 10, 2021 City of London Corporation chair Chris Hayward is looking like the frontrunner to succeed City veteran Catherine McGuinness when she steps down next year, according to reports. McGuinness’ departure in leaves one of the most powerful jobs in the Square Mile officially up for grabs, after a five year term. While Hayward is expected to [...]
Crypto Summit & Awards November 10, 2021 The curious and confusing world of cryptocurrency currently sits at a complex crossroads. Regulation and taxation loom large in the rear-view mirror, while governments and banks seem hell-bent on setting up road blocks to slow down the race towards mass public adoption of digital assets. Cryptocurrencies feature high on news agendas – and seldom for [...]
Klarna challenger Zilch becomes fastest-ever British unicorn November 10, 2021 London-based fintech Zilch has today closed a mammoth $110m Series C funding round and become the UK’s latest billion dollar company in record-breaking time. The round brings Zilch, whose product capitalises on the lucrative Buy Now Pay Later (BNPL) sector but in many ways resembles a credit card, to a $2bn valuation – four times [...]
Software group Aveva’s losses deepen November 10, 2021 British industrial software group Aveva said this morning its operational losses had widened to £73.4m in the first half of the year, more than triple the £20.3m it reported a year earlier. Much of this was down to gradually writing off the costs of its intangible assets, the company said, following the completion of its [...]
City Moves: Who’s switching jobs in the Square Mile today? November 10, 2021 Deloitte Deloitte has posted a new partner to its financial advisory practice, who is set to head real estate mergers and acquisitions (M&A) for the sector. Bringing 17 years experience in M&A and principal investments to the position, Abhishek Jaiswal joins the Big Four firm from Bank of America where he was a lead real [...]
City watchdogs ordered to go for growth by government November 9, 2021 The government will task financial regulators with boosting the City’s competitiveness as part of a push to secure the UK’s status as a leading financial hub. In a sweeping set of reforms launched yesterday designed to overhaul the regulatory regime shaping the City, the government said regulators would be given a further objective to “facilitate [...]
The virtual metaverse requires very real-world regulation November 9, 2021 Regulators tend only to emerge in the spotlight of public scrutiny when something goes wrong. FCA bosses have spent the last couple of years being wheeled in front of Select Committees to explain the collossal cock-ups that led to the London Capital & Finance minibond scandal – including its former boss Andrew Bailey, who despite [...]
UK audit reforms and governance to be watered down after business backlash November 9, 2021 The UK’s reform package to overhaul corporate governance and auditing will be “scaled back” following pushback by businesses, according to reports. Officials working on the plans, which are being finalised, are expected to water down some of the proposals, the Financial Times reported. The reform package, which has been touted as the biggest overhaul to [...]
Oxford Nanopore shares jump after university spinout lifts life sciences revenue forecast November 9, 2021 Shares in Oxford Nanopore surged almost 6 per cent this morning after the recently-listed biotech upped the 2022 and 2023 sales forecast for its life sciences unit, bolstered by a multimillion dollar long-term contract win in the UAE. The genomics group forecast revenue for the core unit will hit between £170m and £190m in 2023, [...]
VCs invest record $6.5 billion in crypto as demand keeps growing November 8, 2021 Data from CryptoCompare shows that the price of Bitcoin started last week at around $62,000 and slowly dropped to retest the $60,000 mark, from which it bounced off to now trade at $66,000