Credit Suisse may bow out of leading Olam’s food London listing September 13, 2021 Credit Suisse may reportedly bow out of leading Olam’s food ingredients listing in London, after turning down a loan request. The beleaguered Swiss bank chose not to take part in loan facilities Olam raised in August, Bloomberg first reported, citing people familiar with the matter. Credit Suisse was joined by Citigroup and JPMorgan Chase & [...]
First Group shares up as bus firm confirms £500m payout September 13, 2021 Shares in transport operator First Group rose 4.0 per cent this morning as the firm confirmed it would return £500m to shareholders through a tender process. In a statement ahead of today’s AGM, the FTSE 250 firm said that it was trading in line with expectations for the year so far. It said that bus [...]
Rolls-Royce and Babcock sell stakes in RAF refuelling business for £315m September 13, 2021 Industrial heavyweights Babcock and Rolls-Royce today sold off their respective stakes in Air Tanker, the company which owns the RAF’s fleet of refuelling planes. The two firms, which owned a combined 40 per cent of Air Tanker, are both on something of a disposal spree after taking a hefty hit from the pandemic. Rolls-Royce, which [...]
Flight to cities to boost London businesses’ profitability September 13, 2021 Changes to working patterns and companies flocking to cities as the spectre of Covid recedes will boost London businesses’ profitability, according to fresh analysis published today. Research conducted by accountancy firm KPMG shows an influx of new, fast growing businesses into the capital will drive productivity and overall profitability levels up in London. Office occupancy [...]
FTSE 100 rebounds as easyJet nosedives September 13, 2021 London’s FTSE 100 index has climbed by 0.64 per cent today, up 45 points higher than the previous close at 7,074.07, after being boosted by financial stocks. Banking giants saw strong gains today with Lloyd’s Group up 2.6 per cent, Standard Chartered Bank lifted by 2.4 per cent and Barclays PLC climbing 2.2 per cent. Meanwhile, investment [...]
US activist fund Causeway Capital builds major stake in WH Smith September 12, 2021 Activist US fund Causeway Capital has amassed a £178m stake in WH Smith as the retail giant tries to get back on its feet post-Covid. Causeway Capital, which is based in Los Angeles, this month increased its share in WH Smith to 9.05 per cent and is now the retail chain’s largest single shareholder. WH [...]
Exclusive: We are benefitting hugely from Brexit, says Estonia’s prime minister September 11, 2021 Brexit has led to around 4,000 UK companies setting up shop in the EU-member state of Estonia, mostly by registering for the country’s much-talked about e-residency scheme. Kaja Kallas, Estonia’s prime minister since January 2021, told City A.M. this morning that her country is benefitting hugely from Britain’s departure from the European Union. “When the [...]
Oil prices push back as effects of Hurricane Ida hit supply September 10, 2021 Global oil prices pushed past the $73 mark this morning as crude supplies tightened on the back of Hurricane Ida. Worldwide standard Brent crude rose 2.2 per cent to $73.02, while US benchmark West Texas Intermediate rose 2.4 per cent to $69.80. Since Ida made landfall in the US at the end of August, causing [...]
Support for Conservative party lags behind Labour days after NI tax hike September 10, 2021 Support for prime minister Boris Johnson’s Conservative party has slumped to its lowest level since 2019’s election, according to a new YouGov poll. The poll, first shared with the Times, showed that support for the Conservatives has dipped to 33 per cent, while Labour’s support has climbed to 35 per cent. While it is just [...]
Exports slump in July as UK explores non-EU markets September 10, 2021 Total exports fell one per cent in July, down £300m, driven by a £900m drop in goods and services delivered to the EU. Falling EU exports were in part offset by a healthy increase of £700m in export value to non-EU markets, up by five per cent compared to the previous month. Overall, however, the [...]