Hotel Chocolat closes US online site September 12, 2022 British food brand Hotel Chocolat is going to close its US website and severely limit investment in the country. The premium British chocolate maker made the announcement this morning that “investment levels in the US would be materially reduced. They would be “limited to essential working capital only for online and wholesale.” It also “decided [...]
WPP names Karen Blackett as new UK chief September 12, 2022 The world’s biggest advertising group WPP named Karen Blackett OBE as the new President of its UK business. Blackett currently serves as UK CEO of GroupM, WPP’s media investment business, alongside her role as UK Country Manager for WPP. She will step down from GroupM to focus full-time on WPP, and her successor as UK CEO of GroupM will [...]
Ministers meddling in regulation is ‘recipe for disaster’, says former FCA official September 12, 2022 Government plans to exert greater control over financial rule-making are a “recipe for disaster”, a former senior regulatory official warned today, as the government looks to grant itself powers to overturn decisions made by independent City watchdogs.
Streamline rules to boost barren IPO market, says Numis exec September 12, 2022 Watchdogs must roll out “simpler and more flexible” regulation in order to reinvigorate London’s barren initial public offering market, the investment banking chief of broker Numis said today.
UK battery storage capacity to be boosted by £200m venture September 12, 2022 Specialist energy storage trust NextEnergy Solar Fund has announced a £200m venture with sustainable electricity firm Eelpower to strengthen the UK’s battery storage capacity. The company’s first 50MW battery storage project through the joint venture is currently under construction in Fife, Scotland, and is expected to grid-connected in the first half of 2023. “Battery storage [...]
Farmland investment vehicle plots £200m London float September 12, 2022 A farmland investment vehicle has revealed plans for a £200m float on the London Stock Exchange today as investors look to agricultural land amid global food supply shocks.
Ladbrokes owner Entain faces another probe into anti-money laundering September 12, 2022 AFTER being fined a record £17m last month, Ladbrokes owner Entain is now facing an investigation from down under over potential anti-money laundering breaches. The investigation was announced this morning by the AUSTRAC – the Australian Transaction Reports and Analysis Centre – as part of an “extensive supervisory campaign covering the whole corporate bookmaking sector”. [...]
EU urges Britain to cut Brexit checks at border to ‘a couple of lorries a day’ September 12, 2022 Checks on goods travelling across the Irish Sea should be cut to a “couple of lorries a day”, the EU’s chief negotiator on Brexit said today. Maros Sefcovic said the union stands ready to work in a “open and constructive way” with Britain following a statement from the new Prime Minister on the prospect of [...]
Europe must avoid ‘sticking plaster’ solutions to meet energy needs September 12, 2022 Europe has to ramp up its own energy production, rather than become reliant on other overseas suppliers, argues a Westminster think-tank.
Supported housing firm Independent Living to raise £150m in London IPO September 12, 2022 Real estate investment trust Independent Living is set to float on the London Stock Exchange, in a bid to raise £150m. The company, which seeks to address the shortage of high-quality supported housing, is currently undergoing an acquisitions spree to build up its initial portfolio of so-called “target assets”, the company announced today. Potential acquisition [...]