FCA: Wild west crypto market provides is hotbed for money laundering November 2, 2021 The wild west crypto market poses a real risk to the strength of the UK financial system by allowing fraudsters to conduct widespread money laundering and financial crime. That’s the warning shot from the City watchdog’s digital tsar, who slammed cryptocurrencies for often harming and exploiting consumers. Jessica Rusu, chief data, information and intelligence officer [...]
Build to rent developer Watkin Jones forecasts £430m revenue November 2, 2021 Rental developer Watkin Jones has reported an optimistic trading update, forecasting £430m revenue. Its forecast revenue is slightly below expectations but with a stronger gross margin that reflected the timing of land sales either side of the year end, it said. In the trading update for the year ended September 30 2021, the property manager [...]
BP earnings spike after energy prices rocket November 2, 2021 BP has reported soaring earnings in its third quarter results after costs of oil and gas skyrocketed this year. The oil giant reported underlying replacement cost profit of $3.3 bn, compared with $2.8bn for the previous quarter. It credited this result to higher oil and gas realisations, higher refining availability and throughout “enabling the capture of [...]
Interview: Mike Adams, CEO of Purple, on changing the disability conversation November 1, 2021 Mike Adams, CEO of Purple, shares with Lysanne Currie his mission to change the disability conversation from disadvantage and inequality to one about potential and value. This article first appeared in ICAS’ CA magazine. Mike Adams has a useful exercise for leaders to try with their own company website. He calls it the no-mouse test. When [...]
Dealmakers brace themselves for 2022 surge in UK M&A November 1, 2021 A survey of top dealmakers has revealed widespread conviction that the number of M&A deals in the UK will surge in the next 12 months, driven by an uptick in distressed deals as well as an expected flurry of activity in the TMT sector. After the number of mergers and acquisitions involving UK companies dipped [...]
Fraud convictions on the up as post-Covid-19 crackdown begins November 1, 2021 An increase in post-Covid-19 fraud checks by the Insolvency Service has seen the number of company directors convicted of fraud spike, according to new research. The number of directors convicted of criminal activity has increased to 122 in the year to the end of September, a 205 per cent hike on 2020 levels. Mazars, the [...]
Carlyle charts record earnings on pandemic recovery October 29, 2021 Global investment firm The Carlyle Group yesterday reported its third quarter earnings increased nearly fivefold, fuelled by record assets sales, predominantly from its private equity portfolio. Distributable earnings rose to a record $731m, up from $152m a year earlier. This brought distributable earnings for the year to date to $1.3bn – an increase of 155 [...]
Time Out’s ‘Time In’ strategy and new CEO provides optimism for the future October 29, 2021 Media group Time Out announces revenue decline due to ongoing tourism limitations, but is "optimistic" for post-pandemic growth as it appoints a new chief operating officer, Chris Ohlund.
Brexit: ‘We will see to it that our interests are respected and UK’s word is kept’, warns French PM October 29, 2021 The French embassy in the UK has highlighted comments by French prime minister Jean Castex, saying that while Paris would like “de-escalation” it was down to the British Government to keep its word. “I’d like nothing more than for there to be a de-escalation,” Castex said. “We are permanently open to discussions, but I want [...]
City Moves: Who’s switching jobs in the Square Mile today? October 29, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. GCA Altium Global investment bank GCA Altium has bolstered its London team with the appointment of a consumer mergers and acquisitions (M&A) expert as its new director. Joining the helm, Tom Barnard is set to work directly with managing director and [...]