Digital 9 Infrastructure buys business operating 14,300 of trans-Atlantic sub-sea fibre April 1, 2021 Digital 9 Infrastructure, an investment trust that seeks out digital infrastructure assets that deliver reliable internet, has completed the acquisition of Aqua Comms for £160m, its first acquisition. Aqua Comms is a platform that owns and operates some 14,300km of trans-Atlantic sub-sea fibre systems. Digital 9 said Aqua Comms’ infrastructure represented the very “backbone” of [...]
Equiniti chairman admits 2020 was a ‘difficult year for shareholders’ as profits tumble April 1, 2021 The chairman of Equiniti has admitted 2020 was a tough year, with the business recording reduced revenue, EBITDA and profit. Revenue at the payments and technology firm was down 15 per cent in 2020 to £471.8m, and underlying EBITDA tumbled 32.6 per cent to £91.7m. Equiniti made a loss of £6.6m in profit before [...]
Lloyd’s of London chairman teases ‘exciting’ plans for famous underwriting room March 31, 2021 Staff at Lloyd’s of London could see more flexibility introduced into their working week post-pandemic, but the iconic underwriting room will remain a core part of the London’s insurance industry, according to the chairman of the insurance marketplace. The insurance marketplace will open its underwriting room on 17 May, in line with the government easing [...]
World’s largest law firm Dentons to offer permanent home working March 31, 2021 Dentons in the UK, Ireland and the Middle East will allow people to permanently work from home when Covid restrictions ease. As part of a new agile working policy, people working at Dentons will be able to choose when to work from home or in the office. All 750 of Dentons’ London-based staff will be [...]
KPMG UK nominates audit head Jon Holt for chief executive role March 31, 2021 The board of KPMG UK has nominated Jon Holt for the role of chief executive, following the resignation of Bill Michael last month. Holt is currently KPMG UK’s head of audit, where he oversees 7,000 people, and chair of the firm’s executive committee for audit. Prior to that, he was KPMG UK’s head of financial [...]
Mastercard among five companies fined after engaging in ‘cartel behaviour’ March 31, 2021 Mastercard, along with four other companies, allegedly engaged in anti-competitive behaviour when offering pre-paid cards to vulnerable people. Mastercard, allpay, APS, PFS and Sulion engaged in anti-competitive behaviour by agreeing not to compete or poach each other’s clients, the Payment Systems Regulated (PSM) has said. As a result of the alleged collusion, the PSR said, [...]
Allen & Overy joins magic circle firms offering ‘thank you’ bonus March 31, 2021 Allen & Overy has become the latest magic circle law firm to offer non-partners a ‘thank you’ bonus for their work during the coronavirus pandemic. Allen & Overy will give staff a one-off fee bonus in April, equal to five per cent of their annual salary. The Covid-19-related bonus will be in addition to the [...]
PwC staff to head into the office two to three days a week post-Covid March 31, 2021 PwC will allow flexible working to continue when coronavirus restrictions ease, and has said staff can finish at lunchtime on Friday during July and August. The Big Four firm said it expects staff will spend an average of two to three days per week co-located with colleagues, either in the office or at client sites. [...]
Topps Tiles puts in resilient performance despite lockdown closing stores March 31, 2021 Topps Tiles saw revenue grow in the first half of its 2021 financial year despite the recent coronavirus lockdown closing its stores and halting its commercial work. In the 26 weeks ending 27 March, the tile specialist saw revenues of £103.6m, down slightly from £106m during the same period in 2020. In the first [...]
UK insurers have more work to do on environmental policies March 31, 2021 Insurers in the UK have more work to do on the environmental and social aspects of ESG, though they are global leaders in governance. The UK is underperforming many of its European peers on environmental processes and reporting across a number of areas, research by Big Four consultancy firm EY has found. EY carried out [...]
