Hipgnosis plots £250m share placing to fund song buying spree September 21, 2020 Hipgnosis today announced plans to raise £250m through a share placing as the music royalties investment firm ploughs on with its aggressive expansion strategy. The London-listed company said it aims to raise the funds through the placing of up to 216m new ordinary shares at 116p per share. It will also offer up to 3.6m [...]
Finance need an overhaul to price in climate change risk and push green agenda forward March 6, 2021 Why did the credit and wider financial system only take off in the last 400 years? Despite money and lending being around for millennia, financial services only truly got going alongside the Enlightenment. According to the writer Yuval Noah Harari, the fundamental shift was to be found in humanity’s belief about the future. In previous [...]
Live music industry warns of 170,000 job losses by end of year October 21, 2020 The UK’s live music industry has warned it will suffer 170,000 job losses before the end of the year if the government fails to offer further support. LIVE, which represents the sector, said the country’s live music workforce was facing a “cliff edge” as the furlough scheme comes to an end at the end of [...]
Welcome to paradise: The most expensive island homes revealed April 8, 2021 A visit to a tropical island may seem like a far-fetched dream for many Londoners, especially after a year spent lockdown. While we may not be able to leave the UK for a jetsetting adventure any time soon, some people are lucky enough to call these exclusive island properties home. From a £109.6m Fijian private [...]
The Week in Sportbiz: ATP Tour omits Alexander Zverev from new campaign, Bundesliga courts private equity, Matchroom signs Campbell Hatton December 10, 2020 The ATP Tour launched its new marketing campaign this week, and tennis fans didn’t need Hawk-Eye to notice there was someone missing. Stars of the men’s circuit Roger Federer, Novak Djokovic and Rafael Nadal naturally featured prominently in the promotional material. So did some less well-known names, including world No34 Hubert Hurkacz, No37 Jannik Sinner [...]
Morgan Stanley profit jumps on strong trading performance October 15, 2020 Morgan Stanley posted a 25 per cent increase in third-quarter profit, closing a mixed Wall Street earnings season on a high. Lenders focused on trading have booked big gains for the quarter, while those with bigger retail operations have been hit harder by the coronavirus. Like fellow trading powerhouse Goldman Sachs, Morgan Stanley was able [...]
DRI Healthcare plans $350m London listing February 12, 2020 Healthcare royalty investment company DRI Healthcare said today it was planning to raise up to $350m (£269m) in a proposed London initial public offering (IPO). The company said it was looking to list on the main market of the London Stock Exchange next month. It said it would use the proceeds from the float to [...]
Bezos accused of ‘wilful blindness’ over use of unlicensed music on Twitch August 10, 2020 Amazon founder Jeff Bezos has found himself under fire by the music industry for an “apparent unwillingness” to counteract use of unlicensed music on streaming platform Twitch. In a letter, seen by City A.M., non-profit organisation the Artist Rights Alliance (ARA) accused Bezos of being ignorant of copyright issues on Twitch, having submitted more than [...]
The We Company drops name and returns to Wework October 14, 2020 Wework parent firm The We Company has dropped its “We” moniker and returned to its better-known name, as the company seeks to scale back its business operations in the wake of the pandemic. Wework, which provides shared office spaces in more than 38 countries around the world, said the move reflected its attempts to “strengthen [...]
Cash Rules Everything Around Me: Hipgnosis Songs invests in Wu-Tang Clan supremo RZA’s catalogue August 24, 2020 London-listed Hipgnosis Songs Fund today said it had acquired 50 per cent of Wu-Tang Clan producer and rapper RZA’s back catalogue. Robert Diggs, known as RZA, founded Staten Island, New York, rap collective the Wu-Tang Clan in 1992. The kung fu-obsessed hardcore rap crew scored a smash hit with their 1993 breakthrough album Enter the [...]