London Stock Exchange set to send $27bn Refinitiv deal to EU regulators January 13, 2020 The London Stock Exchange Group is reportedly set to file its $27bn (£20.8bn) deal to buy financial data group Refinitiv with EU antitrust authorities, following extensive discussions with Brussels over the scope of its investigation into the merger. The two sides have not yet resolved the issue of what constitutes “the market” against which the [...]
Inside the firms taking on the Big Six – and winning January 13, 2020 There’s a palpable buzz to Octopus Energy’s Soho headquarters, which hits you as you walk through the door. It’s a world away from what one imagines when one thinks of an energy firm, chief executive Greg Jackson agrees. But Octopus is one of several companies showing the UK’s Big Six that there is another way [...]
Value of takeovers of AIM companies rises a third in 2019 January 13, 2020 Takeovers of AIM-listed companies rose 32 per cent in value last year, thanks to a growth in the number of buyers acquiring fast-growing fintech firms listed on the index. According to accountants UHY Hacker Young, the value of such takeovers rose from £2.2bn in 2018 to £2.9bn in 2019, aided by a resurgence in the [...]
KKR makes surprise bid for Pennon’s recycling arm January 12, 2020 Pennon’s bin collection and incineration firm Viridor has been the subject of a shock bid from US private equity fund KKR, in an attempt to knock out the competition before an expected auction process. Viridor is set to be one of 2020’s most keenly fought acquisitions, with a number of companies said to be interested [...]
Channel 4 under fire over BP Paralympics sponsorship January 12, 2020 Channel 4 has come under fire from climate activists after it announced that BP will sponsor its coverage of the 2020 Paralympic Games in Tokyo. Environmental evangelists have taken aim at the broadcaster for accepting money from the oil giant, which is one of the world’s largest contributors to fossil fuel emissions. Read more: Boris [...]
Siemens offers climate activist role on board as firm makes Adani mine decision January 12, 2020 The chief executive of engineering giant Siemens has offered a 23-year-old climate protestor a seat on one of its boards, as it prepares to make a decision on its involvement with a controversial Australian coal mine on Monday. Joe Kaeser met with Lisa Neubauer, a prominent figure in Greta Thunberg’s “Fridays for Future” movement, last [...]
Sir Jim Ratcliffe hit with legal claims over North Sea pipeline January 12, 2020 Britain’s third richest man Sir Jim Ratcliffe is facing claims that he is looking to raise costs for a rival to use the main North Sea oil pipeline. American oil firm Apache has said that Ineos, which Ratcliffe owns, wants to double the price of using the Forties pipeline which it bought from BP in [...]
Saudi Aramco IPO rises to $29.4bn after company issues extra shares January 12, 2020 The value of Saudi Aramco’s gargantuan initial public offering (IPO) has increased to $29.4bn (£22.5bn) after the state oil company announced it had issued 450m more shares through its “greenshoe option.” The new shares mean that Aramco’s IPO has risen by almost $4bn, meaning it is now comfortably the world’s biggest IPO. Read more: Saudi [...]
Woodford fund investors face payment delay January 10, 2020 Investors in the Woodford Investment Equity Fund must now wait until the end of the month for payouts to begin. Investors in Neil Woodford’s stricken fund, which will be wound up on 18 January., had been expecting letters on Monday, with the first payments to commence on or around 20 January. Read more: Timetable set [...]
US stock markets hit record highs as Middle East tensions ease January 9, 2020 US stock markets hit record highs today as easing tensions in the Middle East soothed traders’ nerves after a week of drama. The Dow Jones and the S&P 500 both rose just over 0.5 per cent, to 28,900.74 and 3,270.63 respectively. Read more: European stocks hit record high as Iran tensions subside The Nasdaq was [...]