Tech and the City: Listing rules set for revamp to lure unicorns November 8, 2020 Rules governing public listings are reportedly set for a huge overhaul in a bid to lure tech giants to the City. Chancellor Rishi Sunak is next week set to announce a review into stock market listings to encourage tech unicorns, firms valued at over $1bn, and other high-growth companies to list in London rather than [...]
Bentley gently goes green: Electric-only by 2030 November 6, 2020 Luxury carmaker Bentley has committed to switching to a fully electric vehicle line by 2030 with the aim of being an “end-to-end carbon neutral organisation”. Following the introduction of the first electric model in 2024, the carmaker has said it will only offer plug-in hybrid and electric models within its 2026 range. By 2030 this [...]
TfL to start ferry service at Hammersmith Bridge November 5, 2020 The Department for Transport has announced a ferry service will begin at Hammersmith Bridge just days after it hammered out a new bailout with TfL. In a statement this evening the transport department said that, as part of the London bailout, TfL has been “required to procure a ferry service for passengers across the Thames [...]
Bombardier faces SFO probe over Indonesia contracts November 5, 2020 The Serious Fraud Office has confirmed it is investigating aircraft manufacturer Bombardier over suspected bribery and corruption relating to contracts and orders from Garuda Indonesia. It comes after an Indonesian court sentenced Garuda Indonesia’s former chief executive, Emirsyah Satar, to prison in May for bribery and money laundering offences linked to the procurement of planes [...]
British Airways suspends all flights from Gatwick due to second lockdown November 5, 2020 British Airways has reportedly scaled back its operations for November, including the suspension of all flights from Gatwick airport, due to the new lockdown in England. Already struggling with a hit to demand from the pandemic, the airline has also taken the decision to furlough more staff as it braces for a difficult winter. In [...]
Ex-BHS owner Dominic Chappell found guilty of tax evasion November 5, 2020 Businessman Dominic Chappell has been convicted of tax evasion on £2.2m of income he received from his £1 deal to buy the failed retailer. Chappell was convicted by a jury at Southwark Crown Court this afternoon, of all three counts of defrauding the public revenue out of value added tax, corporation tax and income tax [...]
The City View: Eric Heerema of Nyetimber on creating a luxury brand to rival Champagne November 4, 2020 Subscribe to The City View Podcast: Apple / Google / Spotify / RSS In this episode Christian talks to Eric Heerema, chief executive of Nyetimber – the UK’s leading sparkling wine maker and a truly global, luxury brand. This podcast is sponsored by CMC Markets. 79% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You [...]
Carlyle Group buys UK retirement homes group Beechcroft November 4, 2020 Private equity firm The Carlyle Group has acquired UK retirement homes group from Alchemy Partners for an undisclosed sum. The US investment giant’s €540m Carlyle Europe Realty fund invested in Beechcroft, which owns a portfolio of homes in Greater London and South East England. Founded more than 35 years ago, Beechcroft covers the entire development value [...]
Gatwick finance boss takes off for infrastructure provider CityFibre November 3, 2020 Gatwick Airport’s finance chief is reportedly leaving after a decade to join infrastructure provider CityFibre Holdings. Nick Dunn is set to be named chief financial officer of the Goldman Sachs-backed CityFibre next week, according to Sky News. Dunn joined Gatwick from Anglo American in 2010, where he was general manager of corporate finance. Before that [...]
CHEERS: ‘Click-and-collect’ pints allowed during lockdown November 3, 2020 “Click-and-collect” and phone orders of alcohol will be allowed from pubs and microbreweries during England’s second lockdown. Conservative MP Richard Holden tweeted that takeaway orders will be allowed even as pubs and restaurants close in new restrictions. “Delighted to be able to confirm – “Click-and-collect” & phone orders of alcohol will now be allowed from [...]
