Sink or float: What’s next for Ant Group after China suspends world’s biggest IPO? November 4, 2020 The tech world was thrown into turmoil yesterday after Chinese authorities put an abrupt halt to Ant Group’s record-breaking initial public offering. The Chinese fintech giant was set to raise $34.4bn (£26.5bn) through a dual listing in Shanghai and Hong Kong in what would be the world’s largest stock market debut. But the Shanghai leg [...]
‘Markets got what they really did not want’: The City reacts to knife-edge US election November 4, 2020 Investors didn’t want this to happen. They had bet on a Joe Biden win in the US presidential election that they hoped would unleash a big stimulus, but found themselves rapidly adjusting their positions as the race became too close to call. Bonds and the dollar rose as investors sought safety. US stocks were volatile, [...]
Box-fresh? Sandboxes go global November 4, 2020 What image does the word ‘sandbox’ conjure up for you? For most people, the answer is likely to be kindergartens, buckets and sandcastles. But for financial services innovators, sandboxes have a different meaning – and, for some projects, pivotal importance. For organisations looking to launch a product that needs a regulatory licence, a sandbox is [...]
Forget the drama of Succession and The Godfather — family businesses can be a great investment November 4, 2020 Companies with big family stakes are notorious for rows over ownership, control and succession — not to mention nepotism. Accordingly, existing Environmental, Societal and Governance (ESG) ratings mark them down on governance, discouraging anyone looking to invest for responsible growth. But if you dig a little deeper, there are good reasons to invest in them. [...]
Gatwick finance boss takes off for infrastructure provider CityFibre November 3, 2020 Gatwick Airport’s finance chief is reportedly leaving after a decade to join infrastructure provider CityFibre Holdings. Nick Dunn is set to be named chief financial officer of the Goldman Sachs-backed CityFibre next week, according to Sky News. Dunn joined Gatwick from Anglo American in 2010, where he was general manager of corporate finance. Before that [...]
Deloitte Legal acquires London tech and digital media law firm November 3, 2020 Deloitte Legal will acquire technology and digital media law firm Kemp Little, adding 29 partners and up to 57 lawyers in the process.
Bitcoin’s closing price for October was its second highest ever monthly close November 3, 2020 By any measure, last week was a pretty special one for Bitcoin. Let’s take a look at the main highlights. On Tuesday (October 27), the plans of Singapore’s DBS Bank, the largest bank (by assets) in South East Asia, to launch its own crypto exchange (“DBS Digital Exchange”) got leaked when the landing page for [...]
Close Brothers launches two new sustainable funds as demand grows November 3, 2020 Close Brothers Asset Management has launched two new sustainable funds amid growing demand from investors and clients. The asset manager has today launched the Close Sustainable Balanced Portfolio Fund and the Close Sustainable Bond Portfolio Fund, which will be actively managed. Close Brothers said the funds will look to generate “consistent long-term returns by screening [...]
Pride tinged with sadness for devoted AFC Wimbledon fans locked out of Plough Lane homecoming party November 3, 2020 This isn’t how AFC Wimbledon’s long-awaited first match back at Plough Lane was meant to be. The return of football to this corner of Merton on Tuesday evening, when Doncaster Rovers visit the Dons in League One, should have been a huge party for supporters. Instead, the only fans present will be the cardboard cut-outs [...]
CEOs, take note: Hygiene is now a boardroom issue November 3, 2020 The history of business is full of inflection points. Some are instantly easy to recognise, and fatal for non-innovators: the iPhone surpassed and killed the once ubiquitous Blackberry, while digital streaming rendered Blockbuster obsolete. Others are more gradual and harder to see. Entertainment venues, for example, took anti-smoking legislation in their stride and transformed, while [...]