London Sports Festival moves from 3×3 basketball success to pickleball at the City of London Corporation’s Guildhall Yard
Virgin Galactic brings space tourism to public markets as New York float beckons October 27, 2019 Investors will get their first chance to buy into a space tourism firm tomorrow, when shares in Sir Richard Branson’s Virgin Galactic start trading in New York. The company tied the knot on a merger with a US investment vehicle late on Friday, meaning it will go public when markets open tomorrow, in what its [...]
Number 10 could explore Lib Dem-inspired plan if Monday election motion fails October 27, 2019 A December general election became more likely this morning, after the government hinted it could use a similar plan to one mooted by the Lib Dems to enshrine an election in law, should its efforts to call a poll via conventional means fail tomorrow. The government will table a motion calling for a 12 December [...]
Government ‘should overhaul’ stamp duty to boost housing market October 27, 2019 The government should slash stamp duty to help boost housebuilding and encourage people to buy their own homes, a new report has stated. Stamp duty is the second most unpopular UK levy behind inheritance tax, and a gradual rise in rates has meant the average buyer in England pays £2,300 when they buy a property. [...]
Telegraph managers prepare bid as media group goes up for sale October 27, 2019 Suitors will be starting to line up bids for the Telegraph this week as the billionaire Barclay brothers prepare to sell the newspaper group. A group of former senior managers at the Telegraph are among City figures circling, and are looking for backers to bid for the media group, the Sunday Times reported. Read more: [...]
Riding by: Kapten’s new chief executive plots out the company’s bold future October 27, 2019 French ride-hailing company Kapten launched in London six months ago, with a bold plan to loosen Uber’s iron grip on the sector. The company barged onto the scene in April and immediately paid for a flurry of advertising playfully mocking its competitor. “Others avoid paying VAT in the UK – that’s not Uber cool,” one [...]
Three warns of 5G threat after £2bn mobile mast merger makes new ‘monopoly’ October 27, 2019 Mobile operator Three has issued a stark warning over a £2bn mobile masts mega-merger, warning the deal could pose a threat to the UK’s 5G rollout. Earlier this month Spanish infrastructure giant Cellnex struck an agreement to buy the telecoms division of British firm Arqiva, making it the largest mast operator in the UK. Read [...]
Just Eat gatecrasher vows to take on Deliveroo with major cash boost October 27, 2019 The South African firm hoping to derail Just Eat’s merger with rival Takeaway.com is planning to invest hundreds of millions of pounds into the delivery firm in a bid to take on Deliveroo. Prosus, the Dutch division of tech conglomerate Naspers, last week tabled an audacious £4.9bn takeover bid for Just Eat, sparking a furious [...]
Water giants on collision course with Ofwat ahead of crunch ruling October 27, 2019 Some of the water industry’s most prominent investors are said to have complained to the Treasury that regulator Ofwat is becoming politicised. Investors that control suppliers including Anglian, Yorkshire, Affinity, South East and South Staffs reportedly met with officials this month, in a bid to pre-empt Ofwat’s final publication of its financial demands for the [...]
Microsoft beats Amazon to Pentagon’s $10bn cloud computing contract October 26, 2019 Microsoft has won a cloud-computing contract from the Pentagon worth $10bn (£8bn). The contract is for the Joint Enterprise Defence Infrastructure, dubbed Jedi, is for a 10-year period. Read more: Cloud computing drives Microsoft revenue up The project is aimed at making the US defence department more technologically agile. Amazon had been favourites for the [...]
Addison Lee lenders ‘circle’ taxi giant as sale effort continues October 26, 2019 Addison Lee has insisted it expects “a successful conclusion” to the “ongoing” sale process despite reports that its lenders are preparing to take control of the London taxi company. A syndicate of a dozen banks led by ING have drafted in advisers from Alvarez & Marsal (A&M) to consider their options, according to Sky News, [...]