The disappointing first-day performance of Deliveroo, the food delivery service hailed by UK chancellor Rishi Sunak as ‘a true British tech success story’, will be treated for years to come as a salutary lesson – even if judging an IPO on its first day might be premature.
The dominance of the Big Four is over. At least, that’s the headline the government wants to talk about. After all, who could argue with breaking up oligopolies and increasing competition? But the most significant proposals in the government’s white paper on ‘Restoring trust in audit and corporate governance’ in fact relate to the second part: corporate governance. These…