Land of milk and honey? Why New York may not be a panacea for UK firms September 6, 2023 When second-hand car platform Cazoo announced a shift onto the public markets in 2021, it looked from most angles to be a true-blue British success story. Just three years after its foundation, this Amazon of old cars would debut on the stock market and pocket its founder Alex Chesterman the multi-million dollar payday most entrepreneurs dream of. [...]
Klarna global boss doubles down on UK investment despite regulation uncertainty September 5, 2023 Buy-now pay-later giant Klarna will double down on a UK investment drive despite lingering uncertainty around a clampdown on the sector by regulators this year, its global chief has pledged. Sebastian Siemiatkowski, founder and chief of the Swedish fintech, told Morning Wire that the UK remained a key market for the firm despite a push [...]
Ontario Teachers snaps up £255m stake in London wealth manager September 5, 2023 Ontario Teacher Pensions Plan has snapped up a majority stake in London-based Seven Investment Management (7IM) for £255m today as it continues its swoop on private British companies. The Canadian pension giant, which has £249bn assets under management and built a reputation for splashy bets on private firms, announced this morning it has struck a [...]
Bulk up ‘woeful’ pension pots and help save the stock market, UK firms told September 5, 2023 British firms should be forced to ramp up “woefully inadequate” contributions to pension pots in order to boost returns for savers and get money flowing back into London’s beleaguered stock market, a top think tank has said. In a new report today in partnership with Abrdn and Citi, think tank New Financial called for a [...]
Home REIT to begin boardroom clearout as survival plans press on September 4, 2023 Beleaguered social housing investor Home REIT said it will soon begin a full clearout of its board as it scrambles to stabilise its rental income and sprawling property portfolio.
Klarna closes losses and touches monthly profit as cost-cutting drive bears fruit August 31, 2023 Buy-now pay-later giant Klarna has slashed its losses and touched profitability for the first time this year after rolling out a hefty cost-cutting programme and driving down the amount of customers defaulting on payments. In its half year report today, Klarna revealed it had closed its losses to SEK 2.115bn (£153m) from SEK 6.37bn last [...]
Rebel GAM group reveals choice for chief ahead of emergency boardroom clear-out August 30, 2023 The group of GAM shareholders that helped torpedo Liontrust’s takeover has named its preferred choice to head the firm today, as GAM prepares for a total boardroom clear-out following the collapse of the deal.
Not another one? Tech firm set to be plucked from London’s markets in £203m deal August 30, 2023 Another tech firm looks set to be snatched from London’s markets after bosses at Instem struck a £203m take-private deal with a US healthcare investor today. Instem, an AIM-listed life sciences software specialist, said this morning that it had agreed on the terms of a 833p per share cash offer and would now recommend the [...]
Why listed companies and the City are calling for a red tape revolution August 30, 2023 The watchdogs tasked with imposing governance and reporting standards on financial firms walk something of a tightrope across the Square Mile - but experts want reform.
Investors urge UK firms to increase efforts on tackling slavery in supply chains August 29, 2023 Investors are calling on UK-listed companies to increase efforts to tackle modern slavery, human trafficking and forced labour in their supply chains.