12 April

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Britain opens official probe into former PM Cameron’s lobbying -The Sun By Reuters

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LONDON (Reuters) -Britain has launched an official independent probe into former Prime Minister David Cameron's efforts to lobby ministers on behalf of financier Lex Greensill, The Sun newspaper and the BBC reported. The probe is likely to be independent and carried out on behalf of the Cabinet Office, the BBC said. Reuters has not been able to independently verify the reports. While Cameron was British prime minister from 2010 to 2016, the Australian banker Greensill was brought in to work with the government to improve "efficiency". After leaving office, Cameron in turn became an adviser...

12 April

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Pack your thermals: English drinkers brave snow to lift a pint in pub gardens By Reuters

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By Sarah Young and William Russell LONDON (Reuters) - Drinkers in England wrapped up warm on Monday, braving snow, rain and freezing temperatures to enjoy their first pint from a pub in over three months as outdoor hospitality reopened from a strict lockdown. In a pub garden in south London, 19-year old student Sasha Carrington said her group of friends were planning to stay all day. "We've got our layers on, thermals, we're going to stay outside," Carrington said, waiting for staff to bring her a pint of lager, a treat after only...

12 April

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Payments firm Trustly aims for 9 billion euro valuation in Stockholm IPO By Reuters

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By Supantha Mukherjee, Arno Schuetze and Abhinav Ramnarayan STOCKHOLM (Reuters) -Swedish payments firm Trustly said on Monday it intends to list its shares on the Nasdaq Stockholm exchange, the latest in a line of major European tech unicorns seeking a stock market listing. The deal could see the company valued at around 9 billion euros ($10.70 billion), based on the middle of a range of analyst views on the company seen by Reuters and confirming a Reuters report https://www.reuters.com/article/us-trustly-ipo-idUSKBN29R0YY from earlier this year. That would be around 60 times Trustly's expected core 2022 earnings, a...

12 April

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Toshiba faces investor call to seek alternatives to CVC bid By Reuters

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By Makiko Yamazaki TOKYO (Reuters) - Toshiba Corp is facing a call from a leading shareholder to seek other offers from potential suitors following a $20 billion buyout bid from private equity firm CVC Capital Partners, according to a statement. U.S. hedge fund Farallon Capital Management said the Japanese conglomerate should evaluate "the privatisation proposal in a sincere manner through a fair process that includes a proactive market check and formation of an independent special committee," according to the statement. Farallon, Toshiba's third-largest shareholder with a stake of around 6% according to a source, is...

12 April

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After sanctions, Huawei turning to businesses less reliant on high-end U.S. tech By Reuters

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SHENZHEN, China (Reuters) -Chinese telecoms equipment maker Huawei Technologies will invest more in businesses that are less reliant on advanced process techniques, it said on Monday, citing U.S. sanctions that have reduced its access to high-end semiconductors. Huawei's rotating chairman, Eric Xu, also said the company has "no expectation" of being removed from the U.S. Entity List, which has been used to limit the flow of U.S. technology and products to Huawei and others, under the administration of U.S. President Joe Biden. Speaking to analysts, Xu said that the company would invest more in components for...

12 April

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India shares lower at close of trade; Nifty 50 down 3.53% By Investing.com

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Investing.com – India equities were lower at the close on Monday, as losses in the Real Estate, Public Sector Undertakings and Metals sectors propelled shares lower. At the close in NSE, the Nifty 50 declined 3.53% to hit a new 1-month low, while the BSE Sensex 30 index fell 3.44%. The biggest gainers of the session on the Nifty 50 were Dr. Reddy’s Laboratories Ltd (NS:REDY), which rose 7.09% or 337.70 points to trade at 5098.00 at the close. Cipla Ltd. (NS:CIPL) added 2.71% or 23.95 points to end at 907.00 and Divi's Laboratories...

12 April

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Soured credit at euro zone banks falls to new low despite recession: ECB By Reuters

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FRANKFURT (Reuters) - Bad loans at euro zone banks fell to a new low in the last quarter of 2020, fresh data showed on Monday, underscoring warnings from the European Central Bank that lenders are not preparing for a deluge of soured credit after the pandemic. The ratio of non-performing loans at banks supervised by the ECB fell to 2.63%, the lowest level since the start of supervision in 2015, despite a deep and scarring recession that will likely weigh on the economy for years to come. Banks have managed to improve their loan books...

12 April

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British cyber security firm Darktrace announces intention to float By Reuters

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LONDON (Reuters) -Darktrace, the British cyber security firm backed by tech entrepreneur Mike Lynch, said on Monday it intended to float on the London Stock Exchange to raise new funds to accelerate product development and strengthen its balance sheet. The company, founded in 2013, uses AI to understand IT networks and detect attacks by identifying aberrations to normal behaviour. Revenue grew from $79.4 million to $199.1 million between its 2018 and 2020 fiscal years, it said, while core earnings improved from a $27 million loss to a $9 million profit over the same period. Lynch...

12 April

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C4X Discovery Holdings signs licensing agreement with Sanofi, shares jump By Investing.com

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By Samuel Indyk Investing.com – C4X Discovery Holdings PLC (LON:C4XD), a UK-based pharmaceutical company, announced today that its subsidiary C4X Discovery Limited has signed an exclusive global licensing agreement with French pharmaceutical company Sanofi (PA:SASY) for its oral pre-clinical IL-17A inhibitor programme. Financial terms C4X will receive an upfront payment of €7mln from Sanofi, plus €11mln in pre-clinical payments. The company could also receive a further €407mln if certain development, regulatory and commercialisation milestones are met, meaning the total value of the deal is up to €414mln. Treatment The IL-17 family of cytokines are...

12 April

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Heathrow passenger numbers down 83% in March By Reuters

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LONDON (Reuters) - Heathrow Airport passenger numbers fell 83% in March compared to the same month last year, Britain's biggest airport said in a statement on Monday, as the pandemic continued to hit travel. Britain's aviation industry is hoping that flying will rebound in late May once COVID-19 restrictions are eased, but uncertainty remains after government proposals for allowing travel fell short of industry hopes. ...

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Britain opens official probe into former PM Cameron’s lobbying -The Sun By Reuters

Pack your thermals: English drinkers brave snow to lift a pint in pub gardens By Reuters

Payments firm Trustly aims for 9 billion euro valuation in Stockholm IPO By Reuters

Toshiba faces investor call to seek alternatives to CVC bid By Reuters

After sanctions, Huawei turning to businesses less reliant on high-end U.S. tech By Reuters

India shares lower at close of trade; Nifty 50 down 3.53% By Investing.com

Soured credit at euro zone banks falls to new low despite recession: ECB By Reuters

British cyber security firm Darktrace announces intention to float By Reuters

C4X Discovery Holdings signs licensing agreement with Sanofi, shares jump By Investing.com

Heathrow passenger numbers down 83% in March By Reuters

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