Goldman prepares to take iQ public in £2bn float September 8, 2019 The chair of Aston Martin, who has overseen a quartering of its share price since listing last year, is preparing to hit the markets with another firm. The owners of iQ Student Accommodation, which is chaired by Penny Hughes, are planning to take the company £3.5bn worth of assets public, Sky News reported. Goldman Sachs [...]
Cuadrilla owners look for exit September 6, 2019 The owners of Britain’s only active fracking company are reportedly looking to exit the business after a series of setbacks to the struggling industry. Riverstone and Kerogen, two of the investors in Cuadrilla, have hired bankers at the Royal Bank of Canada to help facilitate the exit, Bloomberg reported. Cuadrilla declined to comment when contacted [...]
Ofgem throws lifeline to 30,000 energy customers as Eversmart goes bust September 6, 2019 Ofgem has said it will step in to protect nearly 30,000 customers as energy firm Eversmart added its name to a long list of suppliers that have gone bust in the past year. The regulator told customers to sit tight as they wait for its Supplier of Last Resort process to kick in. Read more: [...]
Oil services deals fail to take off even years after downturn September 6, 2019 The amount of consolidation in the oil services sector is slowing, experts warned today, as companies in the sector face difficulties. The number of mergers or acquisitions (M&A) allowed to 37 in the first half of 2019, new data shows, a reduction from 64 in the same period last year. Read more: Creditors of Gulf [...]
Equinor unveils $5bn share buyback and starts production from massive oil field early September 5, 2019 Norwegian state oil giant Equinor today launched a $5bn (£4bn) share buyback as it also promised to bring a massive new oil field online earlier than expected. The firm said that it would immediately start repurchasing $1.5bn in shares, and will complete that first tranche before the end of February. Read more: Equinor joins Shell [...]
Minister will make ‘go, no-go’ decision on HS2 in December September 5, 2019 Transport secretary Grant Shapps has he will make a “go, no-go” decision on controversial high-speed rail project HS2 in December after a government-ordered review. Speaking to MPs today Shapps said that the review will look at HS2’s affordability, deliver ability, benefits, scope and phasing. Read more: HS2 needs a radical rethink to give Britain better [...]
Samsung prepares to release new foldable smartphone after delays September 5, 2019 Samsung’s new foldable phone has been given a brand-new launch date months after having to abandon its initial launch of the product. The Galaxy Fold, which merges a smart phone with an old-school flip phone, will hit the markets in South Korea tomorrow. Read more: Samsung Galaxy Fold ‘ready for launch’ after screen fix After [...]
Engie fined £2m for rigging gas prices September 5, 2019 French energy giant Engie was fined this morning after regulator Ofgem found it had manipulated gas prices in 2016. A trader at the company had spoofed the market between June and August that year, Ofgem found. Read more: Ofgem slaps suppliers Economy Energy and E with £850,000 fine for competition breaches The trader had placed [...]
Natasha’s law to prevent allergy deaths comes into force after Pret teenager died on plane September 5, 2019 A law in memory of tragic Pret a Manger allergy teenager Natasha Ednan-Laperouse has been laid in front of parliament today, making sure that allergens are properly listed in cafes across the country. Natasha’s Law will close a loophole which allowed food that was prepared on the premises to be sold without an allergy warning. [...]
Starbucks takes hit as 2020 profit growth seen to be lower than expected September 4, 2019 Starbucks fell on the markets today after it warned that 2020 profit growth will come in under its current 10 per cent. Shares in the company dipped two per cent on the news. Read more: Starbucks delivery expands across central London while company continues green push The announcement was made by finance chief Patrick Grismer, [...]
