Barclays gave Roger Jenkins £50m payoff after Qatar deal July 13, 2020 Barclays paid its Middle East head Roger Jenkins £50m when he left in 2009, a court has heard. Jenkins, who is on his third day of questioning at a civil trial in London, was discussing his compensation after he helped to secure a lifeline investment from Qatari investors. The bumper payoff was in addition to [...]
Wealthy investors anticipate lasting lifestyle shifts after coronavirus July 13, 2020 Wealthy investors have not been immune to the disruption caused by the coronavirus pandemic, and anticipate long-term lifestyle changes as a result. Three quarters of wealthy investors in the UK see a permanent shift in the wake of the crisis, according to research by wealth manager UBS. The survey of 200 UK-based investors, with between [...]
Pepsico beats revenue estimates as demand for snacks surged July 13, 2020 Pepsico beat estimates for quarterly revenue and profit, powered by a surge in demand for snacks during lockdowns triggered by the pandemic. Consumers stocked up on snacks as many pivoted to working and studying at home in a bid to curb the spread of infection. Sales of snacks under the Frito-Lay North America unit rose [...]
NIBC agrees to reduced takeover offer by Blackstone July 13, 2020 Dutch bank NIBC has agreed to a proposed bid by Blackstone despite the private equity firm lowering its bid amid the pandemic. The takeover values the bank at just over €1bn compared to €1.3bn previously. The US private equity firm cut its original bid to around €7 per share in May after it said the [...]
Boris Johnson: People should wear face masks in shops July 13, 2020 The Prime Minister has said people should wear face masks in shops and will decide whether to make them mandatory in the next few days. Last week Boris Johnson indicated the government was looking at toughening up the rules and went further today to say a decision “in the next few days.” Speaking to Sky [...]
London leads Europe in follow-on fundraising with busiest period in a decade July 13, 2020 While London markets may have faced a lull in new placings, they had their busiest half for follow-on fundraising in a decade. Data from accountancy firm EY shows more than £21bn of funds were raised in the first and second quarters in London. In the six months to June, existing issuers dominated the market raising [...]
Decline in London’s business activity eases as economy reopens July 13, 2020 There was a marked easing in the downturn in business activity across the capital last month, as the economy picked up and lockdown restrictions loosened. Natwest’s London Business Activity Index – which monitors the combined output of London’s manufacturing and service sectors – rose from 30.3 in May to 46.2 in June. Anything below 50 [...]
‘Limited time’ left for details of post-Brexit regional funding schemes, says IFS July 13, 2020 The European regional development funding schemes will soon wind down but the government is yet to confirm details of its proposed replacement. With less than six months until the UK leaves the EU, the Institute for Fiscal Studies (IFS) has called on the government to reveal its intentions for the Shared Prosperity Fund. A new [...]
City Corporation asks residents and businesses to help with climate change work July 13, 2020 The City’s governing body has today launched an online survey on climate change as part of plans to launch a Climate Action strategy later this year. The City of London Corporation is developing a draft Climate Action strategy in a bid to reduce carbon emissions and be climate resilient in the future. The survey asks [...]
High street footfall suffers even as retail starts to reopen July 13, 2020 The woes of the British high street continued as June footfall dropped to less than half the level of last year, even as stores started to reopen. June saw an annual decline of 56.6 per cent in June, according to data from retail intelligence firm Springboard, but it was a marked improvement on the year-on-year [...]
