Rutherford Health collapses as managers admit to ‘unsustainable cash burn’ June 6, 2022 Rutherford Health has collapsed today, as the board look to wind-up the £23m company and appoint a liquidator. The private oncology provider had thrown more than £240m at developing four therapy centres between 2015 and 2019, in what managers have now called a “flawed expansion strategy” which contributed to “unsustainable cash burn” and ultimately its [...]
Mariah Carey sued for copyright in $20m ‘All I Want for Christmas Is You’ lawsuit June 4, 2022 Pop singer Mariah Carey is to be sued for a sum worth £16m for allegations of copyright infringement over her smash hit All I Want for Christmas Is You. Songwriter Andy Stone has launched a lawsuit, naming Carey and her co-writer Walter Walter Afanasief, almost thirty years after the festive song was released. Stone claims [...]
Lots of luck on moon trip: Biden jibes Musk on ‘super bad feeling’ about economy June 4, 2022 President Joe Biden has scorned Tesla founder Elon Musk after the tech boss cited a “super bad feeling” about the economy amid plans to slash jobs. Speaking on Friday, the US President pointed out that while the electric carmaker said it needed to axe one in 10 jobs, rival Ford was “overwhelmingly” increasing investment. “While [...]
Business of Space: A peak at NASA’s increasingly lucrative commercial deals June 3, 2022 City A.M.’s Millie Turner offers up a roundup of the most important news across the space industry, every Friday. Next generation spacesuits SpaceX vs Boeing This weekend’s launches Next generation spacesuits Axiom Space and Collins Aerospace have been tasked with building the next generation of spacesuits for NASA, as the US agency looks to get boots on the Moon. The [...]
Sheryl Sandberg steps down as Meta COO after 14 years alongside Zuckerberg June 2, 2022 Sheryl Sandberg is stepping down as Meta’s chief operating officer after working for 14 years alongside Mark Zuckerberg. The senior executive announced her decision in a Facebook post, where she said that it was time for her to “write the next chapter of my life.” “Over the next few months, Mark and I will transition [...]
Ofcom chief: Big Tech needs better protection for women June 1, 2022 Ofcom chief Dame Melanie Dawes has called for more to be done to protect women online after finding that they were more likely to be victims of abuse than men.
Social care startup sets ‘broken system’ in sights after £28.5m cash injection June 1, 2022 London-based social care startup Florence said it is looking to solve the issues of the “broken” care system today after securing a £28.5m cash injection.
GSK’s split healthcare division Haleon to list on London’s main market in July June 1, 2022 British pharmaceutical giant GlaxoSmithKline (GSK) has successfully split from its consumer healthcare division, which will list separately on the London Stock Exchange this summer. The division, now known as Haleon, will enter London’s main market on 18 July, GSK confirmed in a regulatory update today, as it awaits a response on its application to the [...]
Exclusive: FCA not ‘selling out’ on premium listings, which could spur biotech sector, argues City lawyer May 31, 2022 The FCA’s proposed reforms to the UK’s listing regime, published last week, could help spur the biotech and technology sectors, a senior City lawyer has told Morning Wire In the plans, the FCA has outlined how it plans to make the rules companies must follow in order to be allowed to list their shares in the [...]
GSK offers £2.6bn for US vaccine maker after failing to bring Covid jab to market May 31, 2022 GSK has offered to pay up to $3.3bn (£2.6bn) for a US vaccine maker, after the pandemic pushed the importance of biotechnology to the top of the healthcare agenda. The British pharmaceutical giant is set to pay $2.1bn (£1.6bn) upfront, and up to $1.2bn (£951m) more if the biopharmaceutical firm Affinivax meets specified development milestones, [...]