Silver Lake pours $500m into Man City owner to break sports group valuation record November 27, 2019 Private equity giant Silver Lake has made a $500m (£389m) investment into Manchester City Football Club’s owners. The cash influx means Abu Dhabi’s City Football Group is now worth $4.8bn, the firms said today, breaking the valuation record for a sports organisation. Read more: Mourinho’s changes spark Spurs comeback to seal last 16 The deal [...]
Labour’s rejection of conventional economic theory ignores important insights November 27, 2019 One of the first tasks facing whoever becomes chancellor after the General Election will be choosing the next governor of the Bank of England. Getting to make this choice would be a key step in the plans of Labour’s shadow chancellor John McDonnell to shake up the Bank of England, but his radicalism is not [...]
UK employer confidence slips to three-year low November 27, 2019 Employer confidence in the UK economy has fallen to its lowest level in over three years as Brexit and General Election uncertainty hangs over firms, new data from the Recruitment and Employment Confederation (REC) has shown. Companies said they were ready to invest in November, however, showing that the upcoming General Election should focus on [...]
Longboat Energy IPO raises £10m in London debut November 26, 2019 Longboat Energy, a new North Sea oil company, today announced it had raised £10m in its initial public offering on London’s AIM. The company, which is led by the former leadership of Faroe Petroleum, priced the offering at 100p per share. Read more: China’s Sdic power to list in London for up to £640m Blue-chips [...]
Sajid Javid attacks Labour’s claims that only rich will pay for manifesto November 26, 2019 Chancellor Sajid Javid has attacked Labour’s claim that 95 per cent of Brits would pay no more tax under its plans, saying the party’s manifesto includes six policies that would hit middle earners. These include scrapping tax relief for married couples, reversing cuts to inheritance tax, and raising corporation tax on small businesses. Read more: [...]
Oil industry to spend £15bn on North Sea decommissioning November 26, 2019 The UK oil and gas industry is set to spend more than £15bn on decommissioning activity in the North Sea over the next decade, as thousands of wells are expected to be withdrawn from service by 2030. According to a new report from industry body Oil and Gas UK (OGUK), 2,379 wells will be decommissioned [...]
Global emissions must be cut 7.6 per cent a year to meet Paris targets November 26, 2019 Unless greenhouse gas emissions fall 7.6 per cent each year for the next decade, the world will miss its chance to limit the global temperature rise to 1.5 degrees celsius. A new report from the United Nations environment programme (Unep) finds that on current pledges, the world is heading for a 3.2 degree rise. Read [...]
Getting Brexit done will not help UK economy, say academics November 26, 2019 Carrying out Brexit will not improve the UK’s struggling economy but will usher in years more uncertainty about Britain’s trading relationships, a new report has said. The hard Brexit that Prime Minister Boris Johnson is proposing will also limit the size of the UK market and raise trade costs, making it a less attractive place [...]
China’s Sdic Power to list in London for up to £640m November 26, 2019 Leading Chinese power generation firm Sdic Power today confirmed that it would offer 10 per cent of its shares as global depositary receipts on the London Stock Exchange (LSE). Shanghai-listed Sdic is worth 57.92bn yuan (£6.4bn), which suggests that the offering could be worth up to £640m, according to a source familiar with the transaction. [...]
Uber rival Bolt set to secure $100m in new funding November 26, 2019 Uber competitor Bolt is on the verge of securing more than $100m (£78m) in new funding. The Estonian ride-hailing app is working with Goldman Sachs on the new round of funding, just four months after raising £50m from new and existing backers. Read more: TfL bans Uber from London after a ‘pattern of failures’ Bolt, [...]