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Evening Standard
SPACs are back as British biotech firm Zura launches UK’s first Nasdaq listing in 2023
There are signs the SPAC could be making a comeback as a British biotech company will today use the unusual vehicle to become the first UK firm to list on the Nasdaq exchange in 2023.Zura Bio, which develops medicines for immune system disorders, has raised $65 million (£53 million) via a special purpose acquisition company …
Business
Business Live
Fintel makes ‘confident’ start to the year after 2022 earnings scaled back
Financial support company Fintel saw earnings drop last year but has hailed what it has called a strong performance. The Huddersfield-based firm, which operates subsidiaries SimplyBiz and defaqto, saw statutory EBITDA fall 33% to £16.7m in 2022 but pointed out that the previous year had benefited from exceptional gains of £7.8m. The plc said it …
Business
Evening Standard
Bank shares bounce back as crisis fears ease
Bank shares have staged a bounce back as fears over a global banking crisis began to subside, but markets are expected to remain volatile ahead of central bank interest rate decisions.London-listed lending giants Barclays, NatWest and Lloyds were all trading higher following further hefty falls on Monday after the rescue takeover of Credit Suisse by …
Business
Evening Standard
Mounting cost of energy bills support sends public borrowing to February record
The soaring cost of energy bills support sent UK Government borrowing ballooning to a record £16.7 billion last month, according to official figures.The Office for National Statistics (ONS) revealed that government borrowing in February jumped by £9.7 billion year on year, due to around another £9.3 billion in costs from energy support schemes.The cost of …
Business
Evening Standard
Kingfisher sees profits slump despite customers spending £1.4bn to save energy
Kingfisher said it expects its falling profits to drop even further this year, as it revealed that more than £1 in every £10 it made last year came from energy and water-saving products.The company behind Screwfix and B&Q has seen profits plummet from their pandemic highs when people stuck at home were investing in their …
Business
Business Live
ScS reports first half losses despite pleasing winter sale performance
Retail park furniture seller ScS says orders have picked up in recent months but lag below last year’s high levels following post-lockdown demand. The North East-based plc reported first half results to January 28 in which it said overall order intake was down 4.7% and underlying pre-tax losses were £4.7m, compared with £5.6m the year …
Business
Sky News
Credit Suisse bondholders may take legal action over £14bn wipe out in UBS takeover
A Swiss regulator’s decision to prioritise shareholder value over certain bondholders in the forced takeover of Credit Suisse could result in legal action, a law firm has warned.Quinn Emanuel Urquhart & Sullivan said a call for so-called AT1 bondholders would likely be held on Wednesday. Holdings worth £14bn were wiped out under terms of the …
Business
Sky News
Major banks facing lawsuits over links to Jeffrey Epstein
JPMorgan and Deutsche Bank must face lawsuits accusing them of enabling Jeffrey Epstein’s sex trafficking, a US judge has said.Jed Rakoff, a district judge in Manhattan, ruled the banks must face proposed class action suits by women who said Epstein sexually abused them, saying he would explain his reasoning at a later stage. The judge …
Business
Evening Standard
Broadband firms asked to ‘urgently’ cancel price hikes for vulnerable customers
Broadband firms have been urged to cancel “exorbitant” mid-contract price rises for vulnerable customers less than two weeks before they are due to take effect.Millions of broadband and mobile phone customers can expect to face monthly bill increases of at least 14% from April.Providers often link their annual price rises to January’s consumer price index …
Business
Evening Standard
Major firms to support Kate’s launch of business taskforce on early childhood
The Princess of Wales is launching a business taskforce on early childhood, with global firms such as Unilever, Ikea, Deloitte and Lego on board.Kate is hosting an inaugural meeting of the taskforce at NatWest’s headquarters in the City of London on Tuesday, with Aviva, Co-op and Iceland among the other major companies joining her.NatWest Group’s …
Business
Sky News
Eight bids could be made for Man Utd – but British contender rules out spending ‘stupid price’
As many as eight bids could be made for Manchester United before Wednesday’s deadline for second offers, it is understood.The Glazer family will definitely sell the club, but only for the right price – with £6bn believed to be their valuation. If their asking price is not met, the owners will raise capital to invest …
Business
Business Live
Regional law firm opens new Lincolnshire Wolds base as offices merged
Grimsby-headquartered law firm Wilkin Chapman has opened its new Wolds office, uniting Horncastle and Louth on the latter’s Fairfield Industrial Estate. The newly completed 10,000 sq ft two-storey building will be shared with its landlord, accountancy and business advisor Duncan & Toplis, due to move into the open-plan suite soon. To celebrate the law firm’s …

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