Battersea Power Station secures £600m funding for regeneration project September 12, 2019 Battersea Power Station has secured a £600m debt facility from its existing lenders to help finance the third phase of its redevelopment plan. The developer behind the project said it had agreed the funding with a consortium of financial institutions led by Standard Chartered. Read more: Battersea Power Station opens Coaling Jetty to the public [...]
Facebook Messenger down: users complain as tech issues hit platform September 12, 2019 Facebook’s Messenger appears to be experiencing significant problems in the UK, with users complaining of being unable to send or load messages. Read more: Shares in Angry Birds maker Rovio crash as it lowers outlook Outage website Downdetector has recieved at least 900 reports of the messaging app not working. The site shows a spike [...]
Marketers set to double down on digital advertising despite measurement issues September 12, 2019 Global marketers are set to ramp up their investment in digital advertising next year, despite ongoing concerns about effective measurement of campaigns. Roughly 84 per cent of marketers plan to increase their investment in online video ads, while 70 per cent will ramp up spend on social media networks, according to a study published by [...]
Oil prices: Opec faces ‘daunting’ global surplus with prices to nosedive in 2020 September 12, 2019 The International Energy Agency has ramped up the pressure on oil-rich countries to cut production, after it warned international organisation Opec will have to tussle with a growing surplus that will decrease prices. Read more: Saudi Aramco Indian investment ‘among biggest ever’ In its monthly report, the IEA said the challenge of managing global oil [...]
Iconic Labs buys stake in student news website The Tab September 12, 2019 Iconic Labs has bought an indirect stake in student publishing company The Tab, marking the latest move in the media firm’s aggressive acquisition spree. Iconic Labs has secured a 24 per cent stake in media investment vehicle Medium Channel Media (MCM), which in turn has entered into a conditional agreement to acquire The Tab. Read [...]
‘Bad for business’: Financial lobby group criticises McDonnell’s planned financial transactions tax September 12, 2019 Shadow Chancellor John McDonnell’s plans to extend the scope of Labour’s proposed financial transactions tax have come under criticism from the head of a City lobby group. “A tax on financial transactions would be bad for business, bad for investors, bad for savers, and bad for the economy,” said Miles Celic, chief executive of Thecityuk. [...]
Defence industry cheers £1.25bn Royal Navy warship contract going to British giant Babcock September 12, 2019 Britain’s sinking shipbuilding industry has been thrown a lifeline after industry giant Babcock was tasked with building the Royal Navy’s latest fleet of warships. The once-thriving sector has been in decline for the last 40 years, with historic shipyards in Sunderland and Portsmouth being shuttered. Just last month, Belfast’s Harland and Wolff yard, which built [...]
Four-day working week ‘unrealistic’, finds Labour-backed report September 12, 2019 A four-day working week is unrealistic, according to a Labour party-commissioned report that undermines a policy the party is considering. Shadown chancellor John McDonnell tweeted that “something must change” after Lord Robert Skidelsky’s report said a reduction in working hours “is both desirable ethically and desired by most people”. Read more: John McDonnell poised to [...]
African telecoms firm Helios plans second attempt at London listing September 12, 2019 African mobile network operator Helios Towers has announced plans to launch an initial public offering (IPO) in London, after ditching a planned listing last year that had been expected to value the company at £2bn. The operator said it plans to raise $125m (£101m) via the issue of new shares, and that existing shareholders including [...]
AB InBev revives Budweiser Asia listing September 12, 2019 Budweiser owner Anheuser-Busch InBev is reconsidering listing its Asia business on the Hong Kong Stock Exchange after it shelved an initial public offering plan earlier this year. AB InBev confirmed today that it has resumed its application for the listing of a minority stake of its shares on the Hong Kong Stock Exchange. Read more: [...]