WANdisco in ‘early stages’ of US listing as another city firm rejects London for a New York flotation March 6, 2023 Data giant WANdisco has confirmed that it is in the “early stages” of preparing to list its shares in the US, however has reaffirmed its commitment to London’s investment market. The £1bn software group was responding to rumours that the group was preparing to list its shares in the US amid an ongoing debate about [...]
As a government, we need to bring tech success to ordinary Brits’ lives March 6, 2023 In my new role as Technology Secretary, it won’t surprise you to hear that I get hundreds of emails, and many of them end with that familiar automated line “sent from my iPhone”. I am sure everyone reading this will have had the same, and never thought twice about it. But this week, as I was thinking [...]
Donelan: Tech success must make Brits’ lives better March 6, 2023 THE GOVERNMENT’S new technology secretary has promised to turn the UK’s research triumphs into “actual, tangible benefits” for the country as she launches a new science and tech framework today. Writing for City PM, Michelle Donelan said the UK’s “most incredible days of innovation are not in our past (but) are happening right now.” Donelan [...]
“How not to do it”: Tech chiefs slam Sunak and Johnson over Arm listing failure March 5, 2023 The government has come under fire for a failed attempt to woo British chipmaking giant Arm into listing in London after the Cambridge-based firm confirmed it would float in New York on Friday. The move from Arm has dealt a major blow to the UK’s efforts to promote itself as a premier listing hub and [...]
Arm listing failure shows occasional weakness of UK’s tech ecosystem March 5, 2023 In truth, it was always highly unlikely that Arm would list in London. From the moment a proposed takeover by Nvidia collapsed, any other result other than a Wall Street debut was almost a non-starter. But the British firm’s decision to cross the Atlantic for a public offering should not be ignored just because it [...]
Arm deals blow to UK tech industry by rejecting London listing for a NASDAQ flotation March 3, 2023 Cambridge-based technology firm Arm said it will pursue a US-only stock market listing this year, dealing a blow to the UK markets. The plans from the company, owned by Japanese investment giant SoftBank, come despite heavy lobbying by successive prime ministers and cabinet members. In January, Rishi Sunak reportedly restarted talks with SoftBank to persuade [...]
All the best new gadgets from the first day of MWC March 1, 2023 Once a year the great and good of the mobile technology world gather at Mobile World Congress (MWC) in Barcelona to show off their most futuristic and unlikely creations. The goal: to convince the world they see the direction of travel of consumer technology in an increasingly unpredictable world. In the past we’ve seen such [...]
This London Tycoon Harbours A Surprisingly Generous Streak March 1, 2023 | City Talk Some may know Tej Kohli for his passion for luxury cars or his vast array of exceptional properties dotted across the world. However, what he should be best known for is his unwavering mission to give away swathes of his wealth to improve the lives of others. As Britain’s wealthiest became wealthier in recent years, [...]
Drax: Biomass energy giant which received £6bn from taxpayer reports 84 per cent earnings hike February 23, 2023 Power generation firm Drax is the latest winner from the energy price crisis, with its earnings up 84 per cent in the last 12 months to £731m. Drax, which received £6bn in green energy subsidies from British taxpayers over the last four-decades, was the latest energy giant to announce bumper profits; recent announcements include Shell [...]
Rolls Royce reveals £652m profit but engineering giant continues to ‘burn through cash’ February 23, 2023 Rolls Royce, the British aero-engine manufacturer, unveiled profits of £652m in 2022, £238m higher than the previous year. The increase, which was driven by its civil aerospace and power systems divisions, also reported free cash flow of £505m versus an outflow of £1.5 billion in the prior year. Charlie Huggins, head of equities at Wealth [...]
