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Cheshire HR software firm makes Appraisd acquisition as it vows global growth

Mar 23, 2026 By

LDC-backed market leading HR SaaS provider, Talos360, has announced the acquisition of global performance management software platform, Appraisd

Private equity-backed HR software specialist Talos360 has acquired global performance management software platform Appraisd in what bosses say is an “important milestone” in its growth plans.

Warrington-based Talos360 won investment from mid-market private equity firm LDC in 2022. Hundreds of businesses use its applicant tracking system and talent tracking technology to recruit and retain staff.

Meanwhile London’s Appraisd was founded in 2012 and its performance management systems are used by hundreds of clients across 65 countries to support activities from appraisals to probation reviews. The acquisition was funded by LDC and the value was not disclosed.

Talos360 says the deal will help it to grow globally and to work with customers across the USA, Singapore, South Africa, UAE, Australia, and Canada, alongside its established presence in Europe.

Janette Martin, CEO at Talos360, said: “This is a pivotal moment for our business.

“We’re passionate about developing proprietary award-winning talent technology for our clients, and now, in 2025, we’re delighted to welcome Appraisd as a key highlight of our Talent Operating System. Talos360 customers can now access even more innovative talent technology to develop their people, helping HR, leadership and management teams to achieve the best results for their business.

“This move reinforces our commitment to creating a seamless, data-driven employee journey, from hire to retire and reflects our ambitions to continually solve the challenges faced by HR professionals to optimise workforce management.”

Appraisd founder and CEO Roly Walter will be joining Talos360. He said: “As a people-first business, it was important that Appraisd found the right home, within the right team and culture. With a great blend of product fit and company values I’m excited to see what the future holds for Appraisd within the Talos360 product family, and the ambitious growth strategy ahead.”

John Clarke, partner at LDC, added, “This acquisition represents a key milestone for Talos360, as it expands and diversifies its product portfolio. Appraisd is a fantastic strategic fit which has enjoyed strong growth historically and we are looking forward to supporting the Talos360 management team in integrating Appraisd into its business.”

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Newcastle recruitment company Lead Candidate launches own drive for new employees

A Newcastle recruitment company has launched its own drive for more staff on the back of growth in the bioscience sector. Lead Candidate was launched in 2020 when its founders, Raman Sehgal, Fiona Cruickshank and Andrew Mears, saw a need for a better talent solution in the life sciences industry. The solution was to create a talent consultancy that champions partnership, offering strategic advice to help business and individuals in the region and beyond to achieve their goals. Last year saw the business reach significant milestones in which it trebled in size, hired a vice president to be its first US-based team member, and its also moved into a brand new Newcastle city centre head office at 8 Nelson Street – the former Cafe Royal building that is also home to Mowgli restaurant and which has undergone a £1.5m makeover. This year, the business is looking to grow 30% further, allowing it to create several new jobs. Andrew Mears, CEO and co-founder, said: “Lead Candidate was created out of a commitment from its founders to unlock the potential of organisations through people and a recognition that the solutions available to businesses in our sector hadn’t kept pace with the market. Today our team of experts are working with customers across the US and Europe to make a positive impact on the careers of individuals and the amazing businesses that occupy the life sciences outsourcing sector. “It’s an exciting time for us, and these developments enable us to better serve our current and future customers around the globe. With no plans to slow down, we’re aiming to grow a further 30% in 2025, which will create several new employment opportunities in the North East. Right now, we’re looking for multiple talent partners and a customer development manager to join us in transforming the talent landscape.” The firm specialises in a niche area of life sciences, working with organisations that provide outsourced support to the pharma and bio sectors. The outsourcing companies offer services across the entire process of bringing medicines to the patients that need them. Mr Mears says the region’s rich expertise within bio sciences places the company well for future growth. He said: “While the pharma and bio outsourcing sector is niche, it’s a fast-growing market. Although we’re based in the North East Lead Candidate operates globally, partnering with companies all over the world, with a particular focus on the US and Europe. We support our partners in recruiting talent at all levels and functions, from entry-level lab scientists to key C-suite appointments. "The North East is home to an active life sciences sector, with major organisations such as CPI, who we’ve supported in the past, Sterling Pharma, and Quotient Sciences. There’s also a thriving biotech industry, with hubs like the Biosphere at the Newcastle Helix providing laboratory space for life science innovation and R&D in the region. “We’re also lucky to be surrounded by some top-tier academic institutions like Newcastle University, Northumbria University, the University of Sunderland, and Durham University. These institutions play a pivotal role in feeding and expanding the local life sciences community, with a thriving start-up community spinning out of academia.” While poised for growth, Mr Mears added that challenges are evident in the North East. He said: “There is significant optimism in the industry, driven by anticipated revenue growth due to market expansion. However, there are still challenges in terms of funding gaps. Many companies in the region struggle to secure the financial backing that would allow them to scale. The North East is also impacted by a lack of Government-backed funding which limits growth and opportunities for local businesses. Despite the presence of several prestigious academic institutions, a skills shortage still exists with demand outweighing the available talent. “Recently, we have seen businesses founded in the region move out of the area to more attractive life sciences hubs in the North West and South of the country due to improved access to funding and skills.”

US dollar on the longest losing streak since 2015 as de-dollarisation fears grow

The US dollar has plummeted 0.7% today, marking its fifth consecutive day of decline, as the market reevaluates the currency's standing in the global economy. The DXY index, which monitors the dollar's value relative to a basket of currencies, sank to its lowest level in three years during trading today, as reported by City AM. Since the beginning of April, which Trump hailed as 'Liberation Day,' the dollar index has dropped by more than 4% as investors offload their US assets amid concerns over the country's growth prospects. In a statement on Friday evening, President Trump emphasized that the dollar would invariably remain "the currency of choice" and asserted that "if a nation said we're not going to be on the dollar, I would tell you that within about one phone call they would be back on the dollar". However, Michael Brown, senior research strategist at Pepperstone, cautioned about the risk "of moving away from a decades-long period of dollar and US hegemony." Brown acknowledged that currently, there is no alternative to the dollar as a reserve currency, and the tariffs that shook confidence in the dollar last week have been temporarily suspended. "However, the incoherence with which economic policy is being made, coupled with the credibility erosion caused by president Trump's constant u-turns and 'governing by tweet' modus operandi, is clearly creating more than a few jitters," the strategist noted. Brown conceded that there was no alternative to the dollar as a reserve currency for now and that the tariffs which shook confidence in the dollar last week had been put on hold for the time being. "Fundamentally, even though the ridiculous 'reciprocal' tariffs have been paused (for now), the prospect of those levies being imposed again will continue to linger. "De-dollarisation is now a real, and frankly scary, prospect," Brown commented. The US dollar took a hit due to imposed China tariffs, according to insights shared on Friday by ING analysts. They indicated that Trump's escalating tariffs on China contributed to the dollar's sharp decline. Since the US may find it challenging to quickly replace many of the imports from China, this could lead to heightened inflationary risks for the American currency. The euro has emerged as the biggest winner from the dollar's depreciation, achieving a five percent increase since 'Liberation Day'. It is perceived widely as one of the few options for investors moving away from US assets. ING analysts observed that officials at the European Central Bank appear to be promoting the euro as a robust alternative to the US dollar right now.

FTSE 100 stages tentative recovery as pound climbs from one-year lows

The FTSE 100, UK's blue-chip index, opened 1.5 per cent higher this morning, clawing back some of the losses sustained over the previous three trading days in the wake of US President Donald Trump's extensive tariffs. Yesterday saw the FTSE 100 plunge by more than four per cent as global stock markets grappled with the potential impact of a worldwide trade war, as reported by City AM. However, early trading this morning witnessed a cautious recovery in the market. The domestically-oriented FTSE 250 leapt 1.6 per cent in early deals, while the Stoxx Europe index 600 climbed 1.4 per cent. Commodities-focused stocks on the FTSE 100 led the market upwards, buoyed by increasing commodity prices. BP saw a 2.6 per cent rise, while mining companies Antofagasta and Glencore both increased by three per cent. US-centric tech stocks listed on the FTSE 100, such as Scottish Mortgage Investment Trust and Polar Capital Technology Trump, also demonstrated strong performance this morning. In the meantime, the pound rose by 0.46 per cent after hitting a one-year low yesterday of around $1.27. US stocks have also continued their recovery from the sharp downturn experienced in recent days, with Dow Jones futures up 1.7 per cent and S&P futures rising 1.3 per cent. Matt Britzman, senior equity analyst at Hargreaves Lansdown, cautioned: "This should hardly be seen as the end of the trouble, especially with President Trump showing no signs of easing his stance on perceived trade imbalances." Despite Trump's threats to escalate tariffs on China beyond 100 per cent, Asian markets have remained unfazed. Japan's Nikkei surged by six per cent this morning, while the Chinese Hang Seng and Shanghai Stock Exchange indexes experienced increases of 1.2 and 1.4 per cent respectively. Gold, which had been negatively impacted by uncertainty surrounding Trump's tariffs, rose by one per cent this morning to exceed $3,000 again, although it is still down by 3.7 per cent over the past week.

Wise forecasts robust growth with 21% increase in active customers and £1.4bn income

Shares in global fintech company Wise saw a six per cent increase in early trading today, following the release of preliminary figures for its current financial year on Thursday. The firm is set to provide further updates during its capital markets day. The presentation will also include updates on the current financial year, with full results due to be posted on June 5, as reported by City AM. Wise, which specialises in facilitating easy international money transfers for consumers, anticipates a 21 per cent growth in active customers to 15 million and a 16 per cent increase in underlying income. Based on these projections, the fintech firm expects to generate an income of £1.4bn in the current year. However, it predicts a one per cent drop in its profit margin. The money transfer company forecasts an underlying income growth of 15 to 20 per cent in the 2026 financial year, with pre-tax profit margins aligning with top estimates. Wise has also revealed plans to dilute its Employee Benefit Trust share purchase programme to prevent shareholder dilution from historical stock-based compensation (SBC) grants, which equate to around 25 million shares. The fintech firm reiterated its listing change following the Financial Conduct Authority's reforms to the UK listing regime in 2024. Wise's listing was moved to the Equity Shares Category in July 2024. Wise made its debut on the London Stock Exchange on July 7, 2021, and over its 14-year history, it has transferred over £0.5tn across borders. In its January quarterly trading update, the company disclosed that cross-border volumes had surged by 24 per cent to £37.8bn. The firm's accounts also saw increased adoption, driving a 39 per cent rise in card and other revenue.

Gold prices dip despite safe haven status amid Trump's new tariffs and global market turmoil

Despite its status as a safe haven amidst global trade uncertainties, gold prices have seen a decline for the third consecutive session. Over the past week, gold has dropped nearly three per cent in US dollar terms, following a steady rise since the onset of 2024, as reported by City AM. This drop coincides with a worldwide slump in stock prices in the wake of US President Donald Trump's comprehensive tariffs, which economists fear could plunge the world into recession. On the day of Trump's tariff announcement, the precious metal performed robustly, momentarily reaching a new all-time high of $3,225 after the president disclosed tax figures by country, before settling back to $3,125. However, it has since pulled back, even briefly dipping below the coveted $3,000 mark this morning. The depreciation in gold prices has occurred despite a fall in the value of the US dollar against other major currencies: when measured in euros, gold has declined almost six per cent since Thursday morning. While tariffs may play a significant role, analysts at Tatton Investment Management suggest that the end of the financial year last week may have distorted gold markets due to portfolio rebalancing. Given gold's strong performance in recent months, it would have become over-represented in many stockpicker portfolios, leading to a temporary sell-off to adjust proportions, according to the investment firm's analysts. As the broader market took a hit, many investors were likely compelled to liquidate their positions in gold, resulting in downward pressure on its price. "Margin calls from brokers is likely to have exacerbated some of the market movements," offered Susannah Streeter, head of money and markets at Hargreaves Lansdown. She went on to say: "Investors using more risky margin accounts can borrow money to invest, but falls in asset prices are prompting demands they deposit more money, as the value of assets used as collateral falls." Moreover, Streeter observed that increased unease among investors has led many to cash in on profits accrued over the past year and pivot to cash holdings. Alternatively, Michael Brown, a senior research strategist at Pepperstone, attributed the decline in gold's value to the unwinding of tariff risk premium following an exemption of bullion imports from tariffs.

HSBC and Barclays shares tumble as Trump's new tariffs shake up FTSE 100

Shares in Britain's leading banks plummeted in early trading on Thursday following President Trump's tariff announcement, which sent shockwaves through the London stock market. Europe's largest bank, HSBC, saw its shares tumble by over 5%, with Barclays experiencing a fall of more than 4%, as reported by City AM. Standard Chartered, a member of the FTSE 100 index, suffered the brunt of the sell-off, with its share price dropping over 7%. The FTSE 100 index itself retreated beyond 1% as the markets opened, reacting to Trump's decision to impose a 10% tariff on UK imports to the USA. Dan Coatsworth, an investment analyst at AJ Bell, commented to City AM: "With so much uncertainty around the global economy as a result of Liberation Day, it seems as if fewer investors want to own banks despite many paying generous dividends which can provide comfort during rocky market conditions." He remarked that banking is inherently tied to economic fortunes, contributing to the sector's vulnerability in the worldwide market downturn: "Banking is an economically sensitive industry, which explains why shares in the sector have been caught up in the global market sell-off." Coatsworth pointed out the specific challenges for HSBC and Standard Chartered: "Trump's tariffs are particularly punishing for various parts of Asia and that puts HSBC and Standard Chartered in the firing line given their major reliance on that part of the world." He continued to illustrate the broader implications: "Businesses will be spooked by tariffs and that could lead to reduced investment, which in turns suggests less demand to borrow from banks or for advisory services on M&A activity." Coatsworth also highlighted Brexit's impact: "The same applies to Europe and the US which are key places where Barclays does business." Barclays, HSBC and Standard Chartered all have significant operations beyond the UK, including in the US and Asia. A deceleration in global trade could result in reduced revenue for these banks due to a decreased demand for their services in facilitating international partnerships through trade finance and other financial services.

FTSE 100 crumbles again as Trump's 'Liberation Day' tariff assault continues

The FTSE 100 had a gloomy start on Friday, still feeling the effects of Trump's 'Liberation Day' comments as it opened in negative territory. In early trading, the United Kingdom’s leading index was down by approximately 1.2%, with its mid-cap counterpart, the FTSE 250, also seeing a decline of nearly 1%, as reported by City AM. Banks were among those feeling the brunt during market opening, extending a downside pattern from Thursday's session. Natwest shares dropped over five per cent, while Barclays took a hit exceeding four per cent. Following its position as Thursday's biggest loser on the FTSE, Standard Chartered’s shares continued to wane, experiencing another fall of over four per cent. Conversely, British American Tobacco and SSE emerged as top performers in early dealings, each securing gains in the region of two per cent. Likewise, the retail giant behind Primark, Associated British Foods, saw its shares ascend over two per cent. AJ Bell’s investment director Russ Mould commented: "With markets having suffered their worst week in five years, investors were hiding under their duvet on Friday hoping the pain would go away." He went on: "Unfortunately, the relentless selling continued, with markets falling across Asia and Europe and futures prices suggesting the US will follow suit upon commencement of trade later today." Mould further remarked that "countless sectors" are poised for impact from tariffs, yet the plethora of "moving parts" presents a challenge to "know where to begin to comprehend the situation." "Investors looking to buy on the dip were spoiled for choice given the sharp declines seen on the market this week. It's now a question of when investors feel brave enough to go shopping. Today's extended sell-off implies investors are still too nervous to take the plunge," he added. On Thursday, the FTSE 100 experienced a sizeable drop, shedding 133 points and closing at 8,474.74 – a 1.6% decrease from the previous day's total. In a bold move, Trump imposed a baseline 10% import levy on all countries trading with the US during his Wednesday address, with increased rates for those classified as "worst offenders." A 10% import tariff was levied on the UK while the European Union suffered a steeper 20% hike. Commentators have noted with surprise that 'Markets appear to have been unprepared' for such trade measures. Stocks across Europe also faced a downtrend, with Germany's DAX falling 0.8%, France's CAC 40 dipping by 0.9%, and Amsterdam’s AEX index experiencing a 0.5% decline. The announcement of tariffs contributed to Wall Street recording some of its most substantial losses since 2020. On the Nasdaq Exchange, big tech firms including Apple and Nvidia saw sharp drops, declining nine and eight percent respectively. The S&P 500 was not immune to the downturn, with a near five percent fall, while the Dow Jones Industrial Average saw a four percent dive. Hargreaves Lansdown's head of equity research Derren Nathan commented: "Despite months of sabre-rattling by Donald Trump, markets appear to have been unprepared for the depth and breadth of tariffs announced by the White House." As a result of the tumult across the pond in the US and the White House's significant measure, "The FTSE 100 is set to open down a touch further, after US stocks suffered their worst day in five years."

Barclays and Natwest stock plunge is 'looming global recession' warning

The FTSE 100's leading banks have dragged down the index in light of President Trump's tariff offensives, with experts cautioning that their losses might signal an impending global recession. Barclays saw its shares drop nearly five per cent in midday trading on Monday and has endured a nearly 20 per cent fall in the past five days, as reported by City AM. NatWest also experienced a dip of over seven per cent after the market opened, but later reclaimed some of its lost ground. By midday, it was down by one per cent. Susannah Streeter, money and markets chief at Hargreaves Lansdown, commented: "Banks are seen as barometers for economic health, and given the steep losses, red lights are flashing about a looming global recession." As of Monday, the FTSE 350 banking sector index had declined by two per cent. Before being hit hard by tariffs, this sector was the FTSE 100's second-best performer out of the other 39 sub-groups in February. In the last month, the index has shed close to 16 per cent of its value. Nevertheless, Lloyds registered a slight recovery on Monday, nudging up by 0.1 per cent at midday. Equity analysts Vivek Raja and Gary Greenwood from Shore Capital remarked: "Changes in economic activity levels could affect demand for credit and bad debt formation." They also noted that Asia-focused banks such as HSBC and Standard Chartered may bear greater impacts compared to largely UK-focused peers like Barclays, Lloyds, and NatWest. Raja and Greenwood have indicated that the moderation of interest rates and their future trajectory could affect lenders' net interest margins, a crucial measure of a bank's profitability from lending activities. "Increased market turbulence could dampen capital markets activity levels while potentially boosting market activity," the analysts further commented. Speaking to City AM, Greenwood suggested that domestic banks are likely to have corporate clients "that are directly exposed to tariffs". He added, "Banks are essentially just leveraged plays on the underlying economies in which they operate." For smaller and mid-cap banks, Raja and Greenwood foresee a lesser impact. They noted that Arbuthnot Latham, Paragon, and Vanquis are "domestically focused and therefore less at risk from the international trade fallout". Despite not experiencing losses as significant as their FTSE 100 counterparts, these smaller lenders have not been able to avoid the global sell-off.

Saga reports surge in profits as demand for cruises among over-50s soars

Saga, the travel and financial services provider for the over-50s demographic, has announced profits surpassing market predictions, fuelled by a surge in cruise demand. The firm revealed this morning that its underlying pre-tax profit for the year ending January 31 stood at £47.8m, marking a 25% increase year on year, as reported by City AM. Annual revenue rose by 4% to reach £588.3m, while net debt decreased by 7% to £590.5m. Earnings before interest, tax, depreciation and amortisation (EBITDA) climbed 18% to £137.1m. CEO Mike Hazel attributed this progress to "[Progress] was driven by the strength of our Travel businesses, with especially high levels of customer demand for our differentiated ocean and river cruise offers." Over the past year, Saga announced a 20-year partnership with Belgian insurance titan Ageas for motor and home insurance, which resulted in Saga's price-comparison website, pricing, claims handling, and customer service activities being taken over by Ageas. Additionally, Saga agreed to sell off its insurance underwriting business. According to Hazel, these strategic decisions, coupled with robust trading performance, enabled Saga to refinance its long-term corporate debt, replacing its 2026 debt maturities with new long-term credit facilities. "The new facilities provide us with significant financing headroom and flexibility as we move forward," Hazell added. "Following the completion of these important objectives, our focus has shifted to the long-term growth plans for the Group, building on our established businesses by continuing to explore complementary partnerships and unlocking new avenues for growth beyond our current business and product lines," he added.

Nikhil Rathi secures another five-year term as FCA chief amidst UK regulatory overhaul

Nikhil Rathi has been reappointed as the chief executive of the Financial Conduct Authority (FCA) for a further five years, tasked with the government's new mandate to cut back on unnecessary and repetitive regulation, as confirmed by the Chancellor. Rathi, who previously served as a Treasury official and the CEO of the London Stock Exchange, will continue his leadership at the FCA, the UK's principal financial regulator, as reported by City AM. Should he complete this term, Rathi's tenure at the helm of the FCA will reach a full decade. The Chancellor has chosen to maintain stability in the role, highlighting that Rathi's contributions have been "crucial" to the government's ambitious regulatory reform efforts aimed at streamlining the UK's regulatory framework to eliminate perceived impediments to economic expansion. On Christmas Eve, Rachel Reeves and Keir Starmer issued a directive to the heads of the UK's ten leading regulatory bodies, urging them to "tear down the regulatory barriers" they believe are constraining economic progress. This initiative to orientate the UK's regulatory bodies towards promoting growth has led to the departure or removal of several regulatory leaders, including those at the Competition and Markets Authority and the Solicitors Regulation Authority. The campaign has also triggered a significant reshuffle within the financial regulatory landscape, exemplified last month by the merger of the Payments Systems Regulator with the FCA, which aims to minimise redundant regulatory obstacles for businesses. Rathi will oversee the seamless integration of the merger. Upon hearing of his reappointment, he commented: "I am honoured to be reappointed by the Chancellor. The FCA does vital work to enable a fair and thriving financial services sector for the good of consumers and the economy." In the previous month, both the FCA and the Bank of England's Prudential Regulation Authority abandoned their initiatives to regulate firms' diversity, equity and inclusion (DEI) performance. Reflecting on these actions and other measures to reduce regulatory burden, Rathi stated: "I am proud of the reforms we have delivered to support growth, bolster operational effectiveness, set higher standards and to keep our markets clean and open." Reeves expressed her approval, saying: "Nikhil Rathi has been crucial in this government's efforts to reform regulation so it supports growth and boosts investment – I am delighted he will be continuing his leadership of the FCA."