Value of private equity-backed ‘carve outs’ triples due to Covid and war in Ukraine September 20, 2022 The value of private equity-backed “carve out” deals, through which funds buy up an entire business line, subsidiary, or unit, has more than tripled over the past year. The value of carve out acquisitions by private equity funds jumped threefold from £3.8bn last year to £13.4bn in the year running up to 31 August 2022, [...]
Drop in Covid-19 vaccine demand swings Oxford Biomedica to a loss September 15, 2022 A drop in Covid-19 vaccine demand and manufacturing has swung British biotech firm Oxford Biomedica to a revenue loss in the half of the year. The London-listed firm, which worked with AstraZeneca’s to produce its Covid-19 vaccine, has revenue slip more than 20 per cent to £64m in the six moths to 30 June, down [...]
British biotech giant Oxford Nanopore revenue boosted by ‘burst’ of Omicron September 13, 2022 The muting of Covid-19 revenue at British biotechnology company Oxford Nanopore has been delayed by the “burst” of Omicron, however, related government contracts continue to dry up as cases fall. The company had warned investors of a ‘tapering’ of Covid-related revenue last year. And has also dialled back revenue expectations for its Emirati Genome Program [...]
Wagamama owner enjoys sales rebound but warns of ‘uncertain’ consumer environment September 8, 2022 The owner of the Wagamama restaurant group has seen sales surge in its half-year results, as an “uncertain consumer environment” looms. The Restaurant Group said total sales hit £423.4m in the 26-week period to 3 July, versus £216.8m in 2021. Diners returned to the group’s restaurants and pubs after the easing of Covid restrictions, with [...]
Prudential shares continue to slide as Covid hits insurer’s profits August 25, 2022 Shares in Asia-focused insurer Prudential continued to slip over the previous day as investors maintained their scepticism towards the firm’s claims its recent losses are simply the result of Covid. The London listed firm’s shares have lost more than 30 per cent of their value since the start of 2022, as stringent Covid policies across [...]
Rishi Sunak: UK shouldn’t have ’empowered scientists’ at start of lockdown August 25, 2022 RISHI Sunak has said government “shouldn’t have empowered the scientists in the way we did” at the start of the Covid-19 pandemic. The former Chancellor told The Spectator magazine that there was a failure to “acknowledge trade-offs from the beginning” and that lockdown’s impacts on other health services, as well as schools and the economy, [...]
NGOs including Oxfam and Save the Children call on Covid-19 Inquiry to probe global impact of UK vaccine buying August 22, 2022 A string of NGOs, including Oxfam, have called on the chair of the Government’s Covid-19 Inquiry to probe the impacts of UK pandemic policy on the global stage. In a letter to chair Baroness Hallett today, the NGOs said: “Given the inquiry’s focus on the impact of the pandemic on inequalities, this should include [...]
Brits still working from home this winter facing hundreds more in energy bills August 17, 2022 The post-pandemic work from home honeymoon could end this winter with Brits having to pay hundreds more in energy bills to heat their homes. Research has shown it is cheaper for workers to go back to their desks, than to heat their homes while working in them, to the tune of almost £200 a month. [...]
UK is first to approve Moderna jab to tackle Omicron variant August 15, 2022 The UK has become the first country in the world to approve a booster jab targeting the Omicron variant, writes Ellis Asher. Moderna has developed the landmark bivalent ‘Spikevax’ as coronavirus cases continue to fall in the UK. This comes after the EU’s European Medicines Agency pushed back its delivery of the dose to later [...]
Peloton sends staff back to the office in far-reaching turnaround plan August 13, 2022 Exercise bike maker Peloton has set out plans to hike its prices, cut costs, and force its staff back into the office, as it seeks to turnaround after demand for its home gym equipment dipped following the lifting of Covid-19 restrictions. In an internal memo published by Bloomberg, the New York headquartered running machine seller [...]