Dame Vivienne Westwood dies aged 82 December 29, 2022 Dame Vivienne Westwood died peacefully surrounded by her family in Clapham, South London, today, her representatives said in a statement. The 81-year-old’s husband and creative partner Andreas Kronthaler said: “I will continue with Vivienne in my heart. “We have been working until the end and she has given me plenty of things to get on [...]
One in five mergers canned as volatility spooks dealmakers December 29, 2022 Nearly 20 per cent of all mergers and acquisitions were canned this year as dealmakers took fright at the extreme turbulence shaking global markets, new data has revealed. One in five deals were abandoned in 2022 while some 26 per cent were put on ice as private equity firms and corporate dealmakers opted to sit [...]
‘Works for me’: Musk dismisses Twitter troubles after thousands report issues December 29, 2022 Elon Musk looked to dismiss reports of Twitter malfunctioning today after thousands of users across the UK, US and Japan were hit by outages. Up to 15,000 users were hit by issues on the Twitter app, with some 2,500 UK-based users facing problems, Reuters reported. London-based internet monitor NetBlocks said Twitter was experiencing “international outages [...]
Sacked: Football clubs change chiefs at four times the rate of top UK firms December 29, 2022 Football clubs have proved they are a more ruthless group than Britain’s biggest firms this year as top clubs sacked their bosses at four times the rate of FTSE-100 firms.
Goldman Sachs poised to slash headcount next month December 29, 2022 The chief of Goldman Sachs has warned staff he will slash the bank’s headcount by around eight per cent next month in a bid to bolster profits in the face of recession next year.
Lawyers for Covid contract firm Randox pile pressure on MPs over ‘misleading’ report December 29, 2022 Lawyers for a firm paid hundreds of millions of pounds for Covid-19 testing contracts have stepped up pressure on an influential Commons committee over a “misleading” report. The Public Accounts Committee has received a series of legal letters from Randox Laboratories’ lawyers Schillings, over the content of its report. Although some of the correspondence has [...]
EXCL – Majestic Wine’s CEO John Colley on why 2022 will go down as the year of fizz December 29, 2022 Two years ago Majestic Wine went private, under the ownership of Fortress Investment. As a private entity, the company has enjoyed two years of transformation and the results have not gone unnoticed in the City: record growth and record sales. The Watford-based wine giant also opened a number of new branches and undertook a turn-around plan whilst [...]
EXCL – Why Private Equity’s appetite for aggressive takeovers will only increase in 2023 December 29, 2022 It’s no surprise that economic turmoil often drives consolidation. Companies may be struggling to survive and looking to M&A as a way to drive value. Not to mention the current weak pound that makes UK-based businesses, especially those with a global footprint, more attractive to overseas buyers. City experts don’t expect that to change in [...]
The City in 2023: Real estate and infrastructure increasingly inflation-proof alternatives for investors December 29, 2022 Half of UK investors have either made alternative investments this year or are considering doing so in 2023 as they seek inflation-beating options. They primarily focus on investments in assets such infrastructure, real estate but also private equity and commodities. Two in five investors are more likely to consider alternative investments as a result of [...]
Wealthy Brits see inflation as biggest threat in 2023 with worst sleep for older millionaires December 29, 2022 High-net-worth-individuals see inflation as the most significant risk to their personal finances in 2023. While younger respondents remain fairly confident in the future of the UK economy and their own wealth, older HNWIs express significant concerns. Just a third (34%) of 55-64s and less than a quarter (23%) of over 65s say they feel confident [...]