Fire ‘biggest cause of losses’ on construction projects in recent years August 20, 2019 The biggest cause of financial losses on large-scale construction projects across the globe in the last five years is fire, according to research, while political risk and international sanctions are a growing concern for contractors. Fire accounts for more than one-quarter of losses on insurance claims made by contractors, according to Allianz, worth around €2.1bn [...]
Hipgnosis snaps up Chainsmokers catalogue as spending spree continues August 20, 2019 Music royalties specialist Hipgnosis has continued its recent run of strong form, securing the rights to the music catalogue of The Chainsmokers. Read more: Hipgnosis bags rights to music catalogue of Ed Sheeran songwriter Hipgnosis said it has acquired 32 songs by the DJ duo, who have bagged 55 number ones and rack up 41m [...]
Bombardier retains maintenance job on East Midlands franchise trains August 20, 2019 Bombardier has been tasked with maintaining 27 trains on the East Midlands Railway franchise for the next three-and-a-half years, in a contract award worth £133m. The Canadian heavy manufacturing giant will look after the 125-miles-per-hour diesel-electric trains at its Derby depot, in a continuation of services which it already runs for Abellio and Eversholt Rail. [...]
Shares in Kin and Carta slide as investment eats into profit August 20, 2019 Shares in Kin and Carta dropped roughly 13 per cent after the digital transformation company warned on profits for the full year. The London-headquartered firm said its pre-tax profit would be marginally lower than expectations after it upped its annual investment from £2m to £3m. Read more: AI software market posts huge growth amid digital [...]
Travelex-owner Finablr profit rise bolsters shares above float levels August 20, 2019 Travelex-owner Finablr enjoyed a nearly 10 per cent rise in half-year profits, in its second financial report since floating on the London stock exchange earlier this year. Shares in the United Arab Emirates-based payment solutions firm jumped as much as nine per cent this morning, above its original initial public offering price of 175p in [...]
“Equity” or “Debt”? Standard-setters must draw a clear line August 20, 2019 | City Talk The concepts of “debt” and “equity” are as old as human conversation. The concepts are not only used in business dealings but also are very much part and parcel of our day-to-day musings, for example, the question “Can I borrow your book?” or the phrase “I loved the gift you gave me on my birthday!” both [...]
UK officials ‘unshackled’ from EU meetings ahead of Brexit August 20, 2019 The government has told UK officials and ministers to stop attending “most” European Union meetings from the start of next month. The move, which will come into effect from 1 September, is billed as enabling officials to “focus on our future relationship with the EU and other partners around the world”. From that point on, [...]
Bayer to sell animal health business to Elanco in $7.6bn deal August 20, 2019 Bayer is selling its animal health business to US firm Elanco for $7.6bn (£6.3bn) as the German pharmaceuticals and chemicals giant continues to offload assets in the face of mounting legal costs related to its Roundup weedkiller. The deal, which is subject to regulatory approval, will create the second largest veterinary medicine business in the [...]
Dealing with the debt conundrum August 20, 2019 Debt remains a word shrouded with negative connotations. And despite how commonplace it is, people are still strangely reluctant to talk about it openly. In reality, debt should not be seen as a bad thing. It is a vital financial instrument for enabling people to achieve major life goals and lead the lifestyles they want. [...]
Robot delivery service Starship Technologies targets students in $40m raise August 20, 2019 Starship Technologies, a US tech firm headed by former Airbnb exec Lex Bayer, has raised $40m (£33.1m) in a series A funding round. The investment was led by Morpheus Ventures with participation from Shasta Ventures, Matrix Partners, Metaplanet Holdings, TDK Ventures, Qu Ventures and others. Starship’s autonomous robot delivery fleet operates in cities across the [...]