DIRS.INFO The most relevant business & tech news

☆ Burberry’s profit slumps by a third as sales in China plunge
▼ + stars: | 2024-05-15 | by ( ) edition.cnn.com time to read: +2 min

London — British luxury brand Burberry has reported a 34% drop in annual profit after sales fell sharply in China — its biggest market — in the final three months of last year. The company had previously warned that achieving its goal of taking the 168-year-old brand further upmarket, to become the definition of “Modern British Luxury,” had been harder than expected after demand for luxury had slowed. Sales fell 12% in the final quarter, dragged down by a 19% slump in China, and wiping out gains made earlier in the year, Burberry said Wednesday. Sales in London, its home market, declined 17%, which Chief Executive Jonathan Akeroyd blamed on a lack of tax-free shopping for tourists. The world’s largest luxury group, Louis Vuitton owner LVMH, also reported weak sales in its latest quarter as spending on luxury items slowed.

Persons: ”, Burberry, Jonathan Akeroyd, ” Akeroyd, Akeroyd, Hermes, Prada, Kerring, Louis Vuitton, LVMH, Daniel Lee Organizations: London, Burberry, London Fashion Locations: China, London, Paris, Europe, British, Burberry’s, Americas

☆ UK tech darling Darktrace rallies 17% after agreeing $5.32 billion private equity sale to Thoma Bravo
▼ + stars: | 2024-04-26 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

In this photo illustration a DarkTrace logo is displayed on a smartphone with stock market percentages in the background. LONDON — British cybersecurity firm Darktrace on Friday announced it had agreed a sale to U.S. private equity giant Thoma Bravo, for an all-cash offer of $5.315 million. Darktrace shares were 17% higher at 10:26 a.m. London time. Darktrace was founded in 2013 and is based in the U.K. city of Cambridge, which has attracted a cluster of tech firms over the last decade. Darktrace on Friday said it had rejected previous unsolicited proposed offers from Thoma Bravo because the tech company assessed they did not fairly value the business.

Persons: Darktrace, Thoma, Thoma Bravo, Mike Lynch Organizations: Thoma Bravo, London Stock Exchange Locations: London, U.S, Asia, U.K, Cambridge, Darktrace, Thoma

LONDON (AP) — British cellphone company Vodafone confirmed Friday that it is selling its Italian business to Switzerland’s Swisscom for 8 billion euros ($8.7 billion) and will hand back half of the proceeds to its shareholders through the buyback of company shares. Swisscom, a telecoms operator, will pay in cash that it will finance through new debt. "Fastweb and Vodafone Italia are an ideal fit to create high added value for all stakeholders." Swisscom will pay annual initial charges of 350 million euros, which is expected to decrease over time. ”Its refreshed strategy also has seen it seek to merge its U.K. business with Three U.K. to create Britain’s biggest mobile phone network worth around 15 billion pounds ($19 billion).

Persons: Swisscom, Christoph Aeschlimann, Margherita Della Valle, “, ”, Sophie Lund, Yates, stockbrokers Hargreaves Lansdown Organizations: Vodafone, Fastweb, Vodafone Italia Locations: British, Italy, Hungary, Ghana, London, Zurich

☆ British telco giant BT expects to launch 5G standalone — or 'true' 5G — later this year
▼ + stars: | 2024-03-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Jason Alden | Bloomberg | Getty ImagesBARCELONA — British telecommunications giant BT says it expects to launch its first so-called "standalone 5G" network in 2024. Howard Watson, BT's chief technology officer, told CNBC that the telco group plans to switch on its standalone 5G network, which is often referred to in the industry as "true" 5G, later this year. "We've already been ensuring that the SIM cards that our customers have in their current 5G devices can do 5G standalone," Watson added. 5G standalone is different from 5G Advanced, though. 5G standalone refers to the development of a 5G network that isn't being built on top of 4G cores.

Persons: Jason Alden, Howard Watson, Watson, Milind Kulkarni, Kulkarni Organizations: BT Group, Bloomberg, Getty, BT, CNBC, Mobile, Congress, Swedish, Ericsson, Qualcomm, Apple, Samsung Locations: Reading, BARCELONA, British, Barcelona, Europe

☆ London's famed BT Tower sold to U.S. hotel group for $347 million
▼ + stars: | 2024-02-21 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

LONDON — British telecoms group BT said Wednesday it had agreed to sell London's iconic BT Tower — once an important piece of network infrastructure — to developer MCR Hotels for £275 million ($346.6 million). The 189-meter structure has loomed over the capital city's central Fitzrovia neighborhood since 1965, when it opened as the Post Office tower. It was also known for a revolving restaurant on its 34th floor, which took 22 minutes to complete a rotation. MCR Hotels owns 150 properties, including the TWA Hotel located in the former TWA Flight Center at John F. Kennedy International Airport. Tyler Morse, CEO of MCR Hotels, said the group would "preserve this beloved building and will work to develop proposals to tell its story as an iconic hotel."

Persons: John F, Tyler Morse Organizations: LONDON, BT, MCR, Post, MCR Hotels, TWA, TWA Flight, John, Kennedy International Locations: Fitzrovia, London

LONDON (AP) — British Prime Minister Rishi Sunak said Tuesday that he was “shocked and sad” to learn that King Charles III has cancer, but is relieved that the illness was caught early. Buckingham Palace announced Monday evening that the king has begun outpatient treatment for an undisclosed form of cancer. Kate is still taking a break from royal duties as she recovers. Charles took the throne intending to preside over a slimmer monarchy with fewer senior royals carrying out ceremonial public duties. William and Charles' wife Queen Camilla are both expected to take on extra public engagements during the king's treatment.

Persons: Rishi Sunak, King Charles III, Buckingham, ” Sunak, “, —, won’t, Charles, ” Charles, Queen Elizabeth II, Kate, Princess of Wales, Prince William, Prince Harry, ”, Harry, Meghan, Prince Andrew, Jeffrey Epstein, William, Queen Camilla, Joe Biden, “ Jill Organizations: British, BBC, Windsor Locations: California, Los Angeles, deputize, United Kingdom

LONDON (AP) — Sinn Fein Vice President Michelle O'Neill is poised to make history Saturday by becoming the first Irish nationalist leader of Northern Ireland as the government returned to work after a two-year boycott by unionists. Northern Ireland was established as a unionist, Protestant-majority part of the U.K. in 1921, following independence for the Republic of Ireland. The return to government came exactly two years after a DUP boycott over a dispute about trade restrictions for goods coming into Northern Ireland from Great Britain. Northern Ireland’s 1.9 million people were left without a functioning administration as the cost of living soared and public services were strained. The new changes included legislation “affirming Northern Ireland’s constitutional status” as part of the U.K. and gives local politicians “democratic oversight” of any future EU laws that might apply to Northern Ireland.

Persons: Sinn, Michelle O'Neill, O'Neill, Brexit, ” O’Neill, Sinn Fein Organizations: Irish, Republic of Ireland, Democratic Unionist Party, DUP, Northern Ireland Assembly, Stormont Assembly, Irish Republican Army, Windsor Locations: Northern Ireland, Northern, Ireland, Republic of, Government, Stormont, Great Britain . Northern, Belfast

LONDON (AP) — The U.K. government on Wednesday published the details of a deal that has broken Northern Ireland’s political deadlock and should — barring a major upset — restore the regional government in Belfast after almost two years on ice. Political Cartoons View All 253 ImagesThat angered Northern Ireland’s British unionists, who said the east-west customs border undermined Northern Ireland’s place in the U.K. In February 2022, the Democratic Unionist Party walked out of Northern Ireland’s government in protest. The new changes go farther, eliminating routine checks and paperwork for goods entering Northern Ireland and making legal tweaks designed to reassure unionists that Northern Ireland’s position in the U.K. is secure. The Northern Ireland Assembly then can meet to elect a speaker, followed by the nomination of a first minister and a deputy first minister.

Persons: Michelle O’Neill, Sinn Fein Organizations: European Union, EU, Northern Ireland, U.K, Democratic Unionist Party, DUP, Northern Ireland’s, Windsor Framework, Northern, Northern Ireland Assembly, Sinn, Irish Republican Army Locations: Belfast, Northern Ireland, Republic of Ireland, Northern, Northern Ireland’s, Ireland

NEW YORK (AP) — British billionaire Joe Lewis, whose family trust owns the Tottenham Hotspur soccer club, pleaded guilty Wednesday to insider trading and conspiracy charges in New York. The 86-year-old businessman entered the plea in Manhattan federal court six months after he was charged in the case. U.S. Attorney Damian Williams said the plea deal includes the largest financial penalty for insider trading in a decade. Broad Bay Limited, which Lewis owns, will pay more than $50 million in financial penalties, the prosecutor said in a release. Federal sentencing guidelines call for a prison sentence of between 18 and 24 months, though Lewis can seek less than that.

Persons: Joe Lewis, Lewis, Damian Williams, —, Joseph Lewis, Williams, Forbes, Lewis ’, Picasso, Matisse, Degas, Woods, Ernie Els, Justin Timberlake, Prosecutors, Jennifer Peltz Organizations: Tottenham Hotspur, Broad, U.S, Premier League, Lewis ’ Tavistock Group, Associated Locations: British, New York, Manhattan, United States, oceanside

Auchincloss, a 53-year-old Canadian who was BP’s chief financial officer for more than three years, took on the top job in September after Looney's surprise resignation. Auchincloss joined BP when it took over oil firm Amoco in 1998. “Since September, BP’s board has undertaken a thorough and highly competitive process to identify BP’s next CEO, considering a number of high-caliber candidates in detail,” BP chairman Helge Lund said. He was denied 32.4 million-pound ($41 million) worth of salary, pension, bonus payments and shares, after BP said he had committed “serious misconduct” by misleading the board. BP has had four different bosses over the past 15 years.

Persons: Murray Auchincloss, Bernard Looney, Looney's, Auchincloss, BP’s, ”, Helge Lund, Lund, ” Auchincloss, Charlie Kronick, ” Kronick, ” Looney, Bob Dudley Organizations: BP, Amoco, RBC Capital Markets, Greenpeace Locations: “, Gulf of Mexico

LONDON (AP) — British Prime Minister Rishi Sunak escalated his war of words with the leader of Greece on Wednesday, accusing Prime Minister Kyriakos Mitsotakis of trying to “grandstand” over the disputed Parthenon Marbles and breaking a promise to the U.K. government. Athens wants them returned so they can be displayed alongside the rest of the Parthenon sculptures at a purpose-built museum in Athens. Sunak said Mitsotakis had reneged on a promise not to talk publicly about the marbles during his visit. The leader of the U.K. opposition Labour Party, Keir Starmer, met with Mitsotakis in London on Monday. It’s not that difficult, prime minister.”___Associated Press writers Nicholas Paphitis and Derek Gatopoulos in Athens contributed to this report.

Persons: Rishi Sunak, Kyriakos Mitsotakis, Mitsotakis, Lord Elgin, Sunak, Leonardo da Vinci’s, Mona Lisa ”, ” Sunak, “, Critics, Keir Starmer, Starmer, ”, ” Starmer, It’s, Nicholas Paphitis, Derek Gatopoulos Organizations: British, British Museum, ”, “, European Union, Conservative, National Health Service, Labour Party, Mitsotakis, Associated Press Locations: Greece, Athens, loggerheads, United Kingdom, ” Greece, Brexit, London

☆ UK's Sunak snubs Greek PM at last minute amid ancient sculpture dispute
▼ + stars: | 2023-11-28 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON, ENGLAND - AUGUST 23: Visitors to the British Museum walk around a selection of items from the collection of ancient Greek sculptures known as The Elgin Marbles on August 23, 2023 in London, England. LONDON — British Prime Minister Rishi Sunak canceled a scheduled meeting with Greek counterpart Kyriakos Mitsotakis on Tuesday amid a diplomatic dispute about the Parthenon Sculptures. Greece has long maintained that the 2,500-year-old sculptures, removed by British diplomat Lord Elgin in the early 19th century and currently held in the British Museum, should be returned. The statues, also known as the Elgin Marbles, have been a source of disagreement between the two nations for centuries. Deputy Prime Minister Oliver Dowden was available to meet Mitsotakis in Sunak's place.

Persons: Rishi Sunak, Kyriakos Mitsotakis, Lord Elgin, Mitsotakis, Mona Lisa, Sunak, Oliver Dowden Organizations: British, Elgin Marbles, LONDON, British Museum, BBC, NATO, Downing Locations: ENGLAND, London, England, Greece, British, Athens, Ukraine, Sunak's

Sunak told delegates that a “fundamental shift” is needed to confront a food-security crisis that is being worsened by climate change. He focused on the role of science and said the U.K. would set up a “virtual science hub” linking international researchers working on more resilient crops. “Climate change, conflict and population rise mean ever greater challenges to food supplies," Sunak said. “So we need a fundamental shift in the way we approach food security, with a focus on long-term solutions to stop food crises before they start. Political Cartoons View All 1256 ImagesThe summit coincided with publication of a “re-energized” U.K. development strategy aimed at ending extreme poverty and tackling climate change and biodiversity loss.

Persons: Rishi Sunak, Sunak, Melinda Gates, ’, David Cameron, ”, Melanie Ward, that’s Organizations: British, Food Security, United Arab Emirates, Children’s Investment Fund Foundation, Melinda Gates Foundation, Lancaster House, Medical Aid Locations: London, U.K, Somalia, Lancaster, Israel, Gaza, “, ”, United States

Khan’s office has opened an investigation into potential war crimes by Israel in Gaza in the 2014 war. THE NUMBER OF CHILDREN KILLED IN THE CONFLICT SOARSThe number of children killed in the blockaded Gaza Strip since the start of the Hamas-Israel earlier this month has exceeded the number of children killed in armed conflict every year globally since 2019, international charity Save the Children said Sunday. It also mentioned the deaths of 33 children in the occupied West Bank and 29 children killed in Israel. The militant group Hezbollah, Hamas’ allies in Lebanon, has clashed with Israeli troops along the Lebanon-Israeli border since the Gaza war erupted on Oct. 7. PALESTINIAN RED CRESCENT SAYS ISRAEL ORDERS GAZA HOSPITAL TO EVACUATEJERUSALEM — A spokesperson for the Palestinian Red Crescent says Al-Quds Hospital in Gaza City received two calls from Israeli authorities Sunday morning demanding it evacuate.

Persons: Benjamin Netanyahu, “ ‘, ”, Israel, Karim Khan, Khan, “, Jason Lee, ” U.N, António Guterres, Guterres, Hamas ’, ” Guterres, Rishi Sunak’s, Emmanuel Macron, Macron, VATICAN CITY — Pope Francis, “ Let’s, ” Francis, Ibrahim Faltas, Jonas Gahr Støre, U.N, Israel’s, ” Tedros Adhanom, Tarik Jasarevic, Nebal Farsakh, ” Thomas White, ” Mahmoud, Abdallah Sayed Organizations: Saturday, Health Ministry, Hamas, West Bank, ICC, Criminal, Gaza, Gaza Health Ministry, Country, MINISTER, LONDON, UN, UNIFIL, VATICAN CITY, ISRAEL HELSINKI — Norway’s, NRK, “, United Nations, MINISTRY, FIRE, WHO, World Health Organization, JERUSALEM, Palestinian, Pentagon, UNITED NATIONS, . Security Council, United Arab Emirates Locations: Gaza, Israel, EGYPT, GAZA, Rafah, Egypt, Cairo, Kathmandu, ISRAEL, ”, LEBANON BEIRUT, Lebanon, Houla, Naqoura, Ukraine, Palestine, St, NORWAY'S, Norwegian, Norway, “, UN, FIRE KATHMANDU, Nepal, GAZA CAIRO, PALESTINIAN, Al, Quds, Gaza City, SYRIA DAMASCUS, Syria, Iranian, Iraq, U.S, Assad, GAZA'S, CAIRO, Gaza’s

LONDON (AP) — British filmmaker Terence Davies, best known for a pair of powerful, lyrical movies inspired by his childhood in postwar Liverpool, has died at the age of 77. Davies’ manager John Taylor said the director died “peacefully at home in his sleep” on Saturday after a short illness. After making several short films, Davies made his feature debut as writer-director in 1988 with “Distant Voices, Still Lives,” a dreamlike — sometimes nightmarish — collage of a film that evoked a childhood of poverty and violence leavened by music and movie magic. The film won the Cannes International Critics Prize in 1988, and in 2002 was voted the ninth-best film of the past 25 years by British film critics. The autobiographical films opened the door to bigger budgets and more mainstream films, still showcasing Davies' distinctive lyricism and often set in the 19th or early 20th centuries.

Persons: Terence Davies, Davies, John Taylor, “, Michael Koresky, ” Koresky, John Kennedy Toole, ”, Gillian Anderson, Edith Wharton’s, Terence Rattigan, Rachel Weisz, Agyness Deyn, Emily Dickinson —, Cynthia Nixon —, ” Davies, Siegfried Sassoon, Jack Lowden, Peter Capaldi, Julian Sands Organizations: National Film School, Cannes International, ”, Liverpool, City, British Film Institute Locations: British, Liverpool, Coventry, U.S, Mirth, Scotland

LONDON (AP) — British police have opened an investigation into corporate manslaughter at a northern England hospital after a neonatal nurse was convicted of murdering seven babies and trying to kill six others when she worked there, authorities said Wednesday. The investigation will consider “areas including senior leadership and decision making to determine whether any criminality has taken place,” said Simon Blackwell, detective superintendent at Cheshire Constabulary. Former nurse Lucy Letby, 33, was convicted in August of killing seven newborns in the neonatal unit at the Countess of Chester Hospital in northwest England between June 2015 and June 2016. Prosecutors said she sickened the babies by injecting intravenous lines with air, poisoning some with insulin and force-feeding others milk. It said it couldn't provide any details, because the inquiry was at an early stage.

Persons: ”, Simon Blackwell, Lucy Letby, Countess Organizations: — British, Cheshire Constabulary, Chester Hospital, Prosecutors, Government, Police Locations: England, Cheshire

☆ UK gives approval for controversial Rosebank oil and gas field development
▼ + stars: | 2023-09-27 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

A view of Sullom Voe Terminal, an oil and gas terminal in the Shetland Islands on September 2021. LONDON — British regulators on Wednesday gave approval for Norway's energy giant Equinor to develop the controversial U.K. offshore Rosebank field in the North Sea, just off the northwest coast of the Shetland Islands. The North Sea Transition Authority said it has also given the necessary consent. Finance Minister Jeremy Hunt said: "We are accelerating renewables and nuclear power, but will still need oil and gas for decades to come — so let's get more of what we need from within British waters." The approval comes after Britain in July confirmed plans to issue hundreds of new oil and gas licenses in the North Sea, despite its stated target to decarbonize all of the national sectors of the economy by 2050.

Persons: Equinor, Claire Coutinho, Jeremy Hunt Organizations: LONDON, Transition, Ithaca Energy, . Energy Security Locations: Shetland Islands, North, Shetland

LONDON (AP) — British regulators on Wednesday approved new oil and gas drilling at a site in the North Sea, a move environmentalists say will hurt the country’s attempt to meet its climate goals. The U.K.'s North Sea Transition Authority said it had approved the Rosebank Field Development Plan, “which allows the owners to proceed with their project.”Britain’s Conservative government argues that drilling in the Rosebank field, northwest of the Shetland Islands, will create jobs and bolster the U.K.’s energy security. One of the largest untapped deposits in U.K. waters, Rosebank holds an estimated 350 million barrels of oil. The field is operated by Norway’s Equinor and the U.K. firm Ithaca Energy, which say they plan to invest $3.8 billion in the first phase of the project. The government says it still aims to reduce the U.K.’s carbon emissions to net zero by 2050.

Persons: ”, Norway’s Equinor, Caroline Lucas, Rosebank, Rishi Sunak’s, Sunak, Claire Coutinho Organizations: —, Transition, Conservative, Ithaca Energy, Green Party, Energy, Rishi Sunak’s Conservative Locations: North, Shetland, Ukraine

LONDON (AP) — British competition regulators gave preliminary approval Friday to Microsoft’s restructured $69 billion deal to buy video game maker Activision Blizzard, easing a final global hurdle that paves the way for one of the largest tech transactions in history to go through. The updated offer “opens the door to the deal being cleared,” the watchdog said, though there are lingering concerns. “The CMA’s position has been consistent throughout — this merger could only go ahead if competition, innovation and choice in cloud gaming was preserved," CEO Sarah Cardell said. Crucially, it got a thumbs-up from the 27-nation European Union after agreeing to allow users and cloud gaming platforms to stream its titles without paying royalties for 10 years. The CMA then put its original decision on hold and opened a new investigation into the revamped proposal.

Persons: Sarah Cardell, “, Brad Smith, ”, Bobby Kotick Organizations: Microsoft’s, Activision, The, Markets Authority, Microsoft, Union, U.S . Federal Trade Commission, CMA, Ubisoft Entertainment Locations: British, U.S, Britain

The government says the online safety bill passed this week will make Britain the safest place in the world to be online. Here's a closer look at Britain's law:WHAT IS THE ONLINE SAFETY LAW? The government says the law takes a “zero tolerance” approach to protecting kids by making platforms legally responsible for their online safety. Senior managers at tech companies also face criminal prosecution and prison time if they fail to answer information requests from U.K. regulators. The law also sets up a clash between the British government and tech companies over encryption technology.

Persons: They'll, haven’t, Meta Organizations: Google, Facebook, U.S, European Union, Services, IF BIG TECH, Companies, Ofcom, Rights Group, Electronic Frontier Foundation, U.S . Locations: Europe, U.S

LONDON (AP) — British Prime Minister Rishi Sunak on Friday described American XL Bully dogs as a “danger to our communities” and announced plans to ban the breed following a public outcry after a series of recent attacks. Sunak said he has asked government ministers to bring together police and canine experts to legally define the characteristics of the American XL Bully, which is not recognized as a breed by groups such as the Kennel Club in Britain or the American Kennel Club in the United States. “The American XL Bully dog is a danger to our communities, particularly our children,’’ Sunak said. Some campaigners have called for the American XL Bully, which was originally bred from the American pit bull terrier, to be added to the list because they believe dangerous characteristics have been bred into the animals. The XL Bully is not recognized as a breed by the U.K.’s Kennel Club, which has argued that no breed of dog is inherently dangerous.

Persons: Rishi Sunak, Sunak, ’ Sunak, “, ’, ’ ’ Sunak, pitbull, Japanese tosa Organizations: British, American, Kennel Club, American Kennel Club, Argentino, fila, U.K, Kennel Locations: Britain, United States, Birmingham, England, United Kingdom, Japanese

LONDON (AP) — British police scoured a huge London park on Friday for an ex-soldier who escaped from prison while awaiting trial on terrorism charges. The Metropolitan Police confirmed the search of Richmond Park in the city’s southwest, which involved two helicopters and officers on the ground, was connected to the hunt for Daniel Abed Khalife. The 21-year-old slipped out of Wandsworth Prison on Wednesday morning while working in the kitchen, apparently by clinging to the underside of a food-delivery truck, police said. His escape has prompted extra security checks at airports and the Port of Dover, the main boat crossing from England to France. But activity focused on Richmond Park, 2,500 acres (1,000 hectares) of woods and grassland about 5 miles (8 kilometers) from Wandsworth Prison.

Persons: Daniel Abed Khalife, Khalife, Dominic Murphy, –, ” Murphy Organizations: —, Metropolitan Police, Richmond Park, Wandsworth Prison, Conservative Locations: London, Wandsworth, Dover, England, France, Richmond Park

☆ British workers keep getting pay raises — despite the Bank of England urging them not to ask for more money
▼ + stars: | 2023-07-12 | by ( Elliot Smith | ) www.cnbc.com time to read: +7 min

Both Bank of England Governor Andrew Bailey and U.K. Finance Minister Jeremy Hunt on Monday told an audience in the City of London that high wage settlements were harming their efforts to contain inflation. Much of the increase in pay has been driven by the private sector, with annual wage growth increasing to 7.6% in the three months to April. However, Bank of England Governor Bailey noted in his Mansion House speech on Monday that the British economy has proven unexpectedly resilient. Last summer saw a slew of strikes and protests as real wages, which reflect the power of a worker's pay after accounting for inflation, declined at a record rate. "No question about it, current nominal wage growth remains far too high relative to the sustainable rate of probably around 3.5-4.0% yoy.

Persons: Mark Kerrison, Andrew Bailey, Jeremy Hunt, Stuart Cole, BoE, Rishi Sunak, Danni Hewson, AJ Bell, Bank of England Governor Bailey, Sanjay Raja, Raja, Equiti's Cole, Bailey, Kallum Pickering, Pickering Organizations: National Education Union, Department for Education, Getty, LONDON, Bank of England, National Statistics, . Finance, City of, Equiti, Monetary, Deutsche Bank, MPC, Treasury, Bank, The, England's Locations: London, United Kingdom, City, City of London, Ukraine

☆ SoftBank-backed digital lender Zopa beefs up executive team with IPO-experienced CTO
▼ + stars: | 2023-06-16 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

LONDON — British digital bank Zopa is beefing up its management team with a couple of senior hires, as the company looks to fuel growth and prepare its business for an eventual public listing. Donlon notably saw Moonpig through its public listing in 2021, which valued the company at around £1.2 billion at the time. "We haven't had great IPOs," he told CNBC in an interview on the sidelines of London Tech Week this week. "If you look at kind of banks, and how they're valued, or tech companies, both of them, public market valuations are not great." "We need to make sure that there is enough liquidity for a public company to be truly public.

Persons: Peter Donlon, Kate Erb, Erb, Donlon, Zopa, Jaidev Janardana, IPOs Organizations: LONDON, CNBC, KPMG, Leeds Building Society, London Tech

☆ Autonomy founder Mike Lynch extradited to the U.S. to face fraud charges
▼ + stars: | 2023-05-12 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Mike Lynch, former chief executive officer of Autonomy Corp departs the Rolls Building on June 27, 2019 in London, England. LONDON — British tech entrepreneur Mike Lynch has been extradited to the U.S. to face fraud charges in relation to the sale of his software company Autonomy to Hewlett Packard . He face charges of securities and wire fraud in relation to the sale of his company Autonomy to HP for $11 billion. Lynch isn't the first Autonomy employee to face charges in the U.S. Some in the U.K. tech industry believe that Lynch should not have been extradited.

Search resuls for: "— British"

25 mentions found