Vroom vroom: Private equity house announces second acquisition in two days December 14, 2016 A private equity group has announced its second acquisition in two days, today taking a majority stake in a British vehicle hire company. Equistone Partners Europe has bought TOM Vehicle Rental, investing alongside management and the company founder-owner. Read more: Majority steak acquired: Is this the meatiest private equity deal of 2016? TOM was founded in 1991 [...]
The City of London’s newest skyscraper has another new tenant and it isn’t even built yet December 14, 2016 One of the City’s newest skyscrapers on the block has secured another commercial tenant. Bermuda-based insurance provider Axis Capital have confirmed that they will move into 52 Lime Street, otherwise known as The Scalpel, by 2018. Insurance broker BPL Global has already bagged the 12th floor in the 35-storey structure, while Axis will take up residence on [...]
David Davis reveals Brexit plans will not be ready to be published until February at the earliest December 14, 2016 The Brexit secretary has today revealed his department's plans for the impending Brexit negotiations will not be published until February at the earliest. Speaking in front of the Exiting the European Union Committee, David Davis said he intended to publish the plans as soon as possible but added it certainly would not be before the end of [...]
British Airways cabin crew have voted in favour of strikes in pay dispute December 14, 2016 British Airways cabin crew have voted in favour of strikes in a pay dispute, according to Unite union. The union has not yet finalised dates, but said any action will begin after 21 December. Unite representatives will meet shortly to discuss dates. It comes after crew rejected a pay rise offer of two per cent. More than [...]
A leading insect food developer has sealed $37m of funding following a European Commission ruling December 14, 2016 How many insects could you buy for $37m (£24m)? Nope, this isn't the first line to a joke, it's the amount an innovative start-up has managed to raise after bugging investors for capital. In midst of the Brexit vote and Donald Trump winning the US presidential election, you'd be forgiven for having missed some big [...]
Deliveroo and Diageo team up to put the spirit in your holiday with new alcohol home delivery service December 14, 2016 Let's set the scene: You've just come home from work, set a cosy fire and put on your most ridiculous Christmas jumper. All you need to complete the evening is a festive drink, but to your shock and horror you find your drinks cupboard is seriously lacking. Now you'll have to put the fire out, [...]
Two heads are better than one: Goldman Sachs announces two new presidents to replace Cohn December 14, 2016 Goldman Sachs announced today it was promoting two long-serving staff members to the role of president and operating co-chiefs to replace Gary Cohn. David Solomon, currently co-head of the investment banking division, and Harvey Schwartz, currently finance chief, will fill the gap left by Cohn, who is off to join President-elect Donald Trump as director of the National [...]
Gatwick just had a record November bolstered by soaring long-haul growth December 14, 2016 Gatwick's chief executive has said he intends to keep pushing for his airport to expand alongside Heathrow's third runway since his rival was given the green light by government. And Stewart Wingate will be able to point to another record month to bolster his argument, after revealing the airport just had its busiest ever November. For [...]
Pulling a sickie: Bosses say more and more of us are taking a day off December 14, 2016 Pulling a sickie. Skiving-off work. An (unapproved) duvet day. There are a growing number of names for work absenteeism and Britain's businesses fear it is a growing problem. Over two-thirds (68 per cent) of Britain's businesses think more and more employees are taking an unearned day off, a practice that is costing UK businesses an average of £120,000 [...]
Piccadilly line Night Tube launch to go ahead on Friday despite ongoing disruption as mayor says “lessons must be learned” December 14, 2016 Despite the mayor acknowledging that "Piccadilly line service has not been good enough" with ongoing disruption caused "for thousands of people," the launch of the Night Tube will go ahead as planned. It starts on the line – the fifth to get the all-night treatment – on Friday 16 December and will run all night [...]