City chiefs draw up plans to create new market in post-Brexit tech drive January 16, 2022 City chiefs are drawing up plans to shake up the capital’s listing structure to attract fast-growing tech companies, according to reports. The London Stock Exchange (LSE) has tabled proposals to erode the normal lines between public and private companies. Private firms would be given access to a special market to allow them trade shares on [...]
Shock in fintech sector: City watchdog FCA launches tax evasion probe into billionaire founder of Wise June 27, 2022 The money transfer giant Wise revealed this morning that the FCA has launched a probe into its billionaire co-founder and chief executive over his status as a so-called deliberate tax defaulter. Wise said the Financial Conduct Authority (FCA) has launched an inquiry into Kristo Kaarmann’s “regulatory obligations and standards”. It comes after Kaarmann was named [...]
Mode CEO quits following controversial Bitcoin cashback announcement January 20, 2022 The chief executive of UK fintech Mode has resigned two months after the company faced backlash for a controversial announcement.
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 [...]
Wise investors ‘should be concerned’ by probe, top advisors warn September 15, 2022 Investors in troubled money-transfer firm Wise “should be concerned” by the regulatory investigation into its chief Kristo Kaarmann as it threatens to “dampen shareholder value”, a top advisory group has warned. The Financial Conduct Authority revealed in June it had opened an investigation into the Estonian founder after tax authorities ruled in 2021 that he [...]
City Moves: Who’s switching jobs in the Square Mile? September 7, 2022 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. Lombard Odier Investment Managers Lombard Odier Investment Managers has built out its UK wholesale team with a fresh sales director. George Guest, who stepped into the London-based role at the end August, will be responsible for promoting [...]
British Gas owner Centrica predicts eightfold profit hike after energy price surge January 12, 2023 British Gas owner Centrica has predicted a near eightfold increase in its full-year profits, powered by soaring energy prices.
Hong Kong abandons £32bn bid for London Stock Exchange October 8, 2019 Shares in the London Stock Exchange (LSE) dropped as much as six per cent today after Hong Kong Exchanges and Clearing (HKEX) confirmed it has abandoned its audacious £32bn takeover bid. “HKEX confirms that it does not intend to make an offer for LSE,” it told the market on open. Read more: Shareholders tell HKEX [...]
Restaurant chain Fridays appoints new COO after Hotter Shoes demerger February 23, 2022 America inspired restaurant chain Fridays – formerly TGI Fridays – has appointed a new chief operating officer. Julie McEwan, formerly of Whitbread and Las Iguanas, will take on the new role in early March. It comes as the chain has undergone a rebrand after being demerged from Hotter Shoes last year. Owner Electra Private Equity [...]
Sports Direct owner Frasers makes re-entry into FTSE 100 September 13, 2022 Sports Direct owner Frasers has made a return to the London Stock Exchange’s FTSE 100. The retailer re-joined the blue-chip index on Tuesday, according to its new chief executive officer Michael Murray. In a LinkedIn post, the CEO said the “significant milestone reflects the strength of our strategy and the strong performance that Frasers Group [...]