Sunak: Private equity raid on UK businesses ‘good news’ for economy September 14, 2021 Foreign investment firms’ recent surge of interest in British listed companies is a “sign of confidence” in the UK economy, chancellor Rishi Sunak said on Tuesday, while also touting British fintech and life sciences companies as “globally best in class.” On the same day that Clayton, Dubilier & Rice cemented its pole position in a [...]
Amazon hikes average starting wage to just over $18 per hour in the US September 14, 2021 Amazon has increased its average starting wage in the United States to more than $18 an hour and plans to hire another 125,000 warehouse and transportation workers. Watch the full report.
Over half of UK tech investors ready to pull capital over proposed clampdown on startup M&A September 14, 2021 Investors in UK startups are ready to pull capital over the threat that a proposed competition clamp down on startup M&A by the CMA’s new Digital Markets Unit (DMU) poses to the country’s startup innovation and growth. Half (50 per cent) of the UK’s investors in startups will significantly reduce the amount they invest in [...]
Easyjet sent into freefall: Shares continue to tumble September 14, 2021 Shares in budget flier Easyjet continued to tumble today after UBS said on Friday that the carrier would likely lag behind rivals in its recovery from the pandemic. Having tumbled 13.4 per cent yesterday, shares were down another 0.7 per cent this morning. Since Wednesday, when the carrier announced a £1.2bn rights issue, shares are [...]
Global economic activity is pulling away from Europe and the UK must follow, says Truss September 14, 2021 The UK will need to shift its trade focus to Asia, as the centre of global economic activity gravitates away from Europe and towards the east. By the end of this decade, three of the world’s largest four economies will be in the Indo-Pacific region, according to the Department for International Trade (DIT). In a [...]
City broker Peel Hunt to IPO on UK’s AIM by end of the month September 14, 2021 Peel Hunt, the London broker for mid and small-cap companies, is to float on London’s AIM market following a pandemic-fuelled trading boom. The employee-owned group has announced it will go public by the end of the month, in a bid to raise money for its expansion plans, which include a move into Europe. As well [...]
Vivendi and Universal Music Group to split during €33bn Amsterdam IPO September 14, 2021 Vivdendi’s Universal Music Group, the music company behind Lady Gaga and the Rolling Stones, will split up during its €33bn initial public offering (IPO) set to land next week. Universal’s IPO will see it sever its ties with Vivendi, after dishing out 60 per cent of its shares to Vivdeni shareholders. The music group’s shares [...]
CDR agrees pensions deal with Morrisons as takeover nears September 14, 2021 Private equity house Clayton, Dubilier & Rice (CDR) looks to have shored up its grip on takeover target Morrisons after coming to an agreement with trustees over the supermarket’s pension schemes. The supermarket has been at the heart of a bidding war between CDR and fellow private equity firm Fortress, with the former agreeing a £7bn [...]
FTSE 100 and 250 fall flat as mining stocks drag September 14, 2021 The FTSE is down 0.48 per cent today at 7,034.42, falling by 33 points compared to yesterday’s close as mining stocks spurred losses. Industrial and energy mining companies dragged the index down. Evraz is down 4.12 per cent, Anglo American PLC shed 3.1 per cent while mining giant BHP dropped 2.6 per cent. Amid continued [...]
Property: ‘Best market in two decades’ but lack of stock spooks sellers September 14, 2021 The property market is in the best shape to sell in more than two decades, OnTheMarket’s boss has said, but sellers are being spooked by the lack of stock and the rapid rate at which homes are being snapped up. Some 73 per cent of UK buyers felt confident that they would purchase a property [...]