Tuesday newspaper round-up: Goldman, GameStop, Oxford Nanopore

by | Apr 6, 2021

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Goldman Sachs is preparing for hundreds more staff to go back to its London office this week as it eyes a return to pre-pandemic working conditions. As many as 200 of the US investment bank’s workers could return to the main London office from Tuesday, joining several hundred staff who have been at their desks throughout several lockdowns. Goldman Sachs employs about 6,000 workers in London overall. – Guardian
Shares in GameStop fell on Monday after the video-game retailer said it may sell up to $1bn (£720m) worth of stock as it tries to make the best of the 900% surge in its shares from a Reddit-driven rally this year. The company said it would sell up to 3.5m shares and use the proceeds to speed up its shift to e-commerce in an overhaul being led by the billionaire Ryan Cohen, its biggest shareholder and a board member of GameStop. Shares in the company fell sharply in pre-market trading in New York but had recovered by the close to $186.95, a fall of 1.9%. – Guardian

Britain’s banks have not dipped into their capital buffers to lend to customers during the pandemic, despite being given the green light to do so. Most big banks have built up their capital strength over the past year, even as officials told them to deploy money built up in recent years to support businesses. Regulators said that it was in their own interests to do so to keep defaults down. – The Times

The chief executive of Oxford Nanopore, the biotechnology company planning one of the biggest flotations in London this year, was found by a judge in the United States to have misled regulators in a patent court case. Gordon Sanghera, when director of research and development for the diabetes business of Abbott Laboratories, an American healthcare company, was found guilty of inequitable conduct, along with Abbott’s in-house lawyer, after a patent dispute with rival multinational drug companies. – The Times


Businesses are preparing to ramp up capital spending after years of underinvestment, boosting hopes of a rapid economic bounce-back from the pandemic. The UK’s leading group of manufacturers found that over half of companies will either invest more cash as a result of the Government’s ‘super-deduction’ tax break, or bring forward their investment plans. – Telegraph

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