Prince Charles partners with insurance firms to tackle climate change June 24, 2021 Prince Charles has teamed up with the Lloyd’s of London insurance market to launch a task force aimed at transitioning the industry to a net zero economy. The task force will be chaired by Lloyd’s, with support from Charles’ Sustainable Markets Initiative. It will include the chief executives of insurance firms such as AXA, Allianz, [...]
Number of Brits on furlough falls to record low of 1.5m as job adverts rise June 24, 2021 The number of Brits on furlough in early June fell to its lowest since the start of the pandemic as easing Covid restrictions allowed most businesses to reopen. Six per cent of staff, or around 1.5m people, are still on furlough, a large drop from the 3.4m who used the scheme across March and April. [...]
Lone Star bows out of Senior takeover race after final £840m bid is rejected June 24, 2021 Lone Star today said it had backed out from its bid to take over aerospace engineer Senior after the private equity firm’s fifth offer was rejected. Earlier in the week, Senior said there was no basis for it to engage with Lone Star after the fund said its 200p per share offer could only be [...]
Wood Group forecasts revenue slump as Covid derails operations June 24, 2021 Engineer Wood Group this morning forecast a 21 per cent drop in half year revenue as the company received smaller contracts during the pandemic. Revenue hit $3.2bn in the six months ended 30 June, with improved momentum in the second quarter as lockdown restrictions eased. The company said it expects net debt to increase to [...]
888 Holdings secures gambling licensing deal with Sports Illustrated June 24, 2021 888 Holdings has today announced an agreement to develop US media firm Sports Illustrated (SI) into betting and casino games in the US. The deal is the latest branding tie-up between an established betting company and a sports media brand, a model used in partnerships between Stars Group and Fox Bet. 888 plans to launch [...]
Nasdaq hits record high as Wall Street rally continues June 23, 2021 US stocks rose today as the Nasdaq hit a record high after Fed officials calmed fears of a sharp tapering of monetary stimulus. The Dow Jones Industrial Average and the benchmark S&P 500 both gained 0.1 per cent at the open. Meanwhile, the tech-heavy Nasdaq advanced by 0.2 per cent to open at a record [...]
Lloyds prompts backlash after axing another 44 branches June 23, 2021 Lloyds Banking Group is to close another 44 branches across England and Wales this year as lenders ramp up cost-cutting. Lloyds blamed a lack of customers at the sites as the reason for the move as people switch to digital banking. The latest closures means a total of 100 branches will shut this year, with [...]
Exclusive: UK employees work £4.2bn in unpaid overtime every week as free labour soars during pandemic June 23, 2021 The amount of unpaid overtime that each UK worker is doing has jumped to an average of eight hours per week during the pandemic, according to a new study. The ADP Research Institute’s People at Work 2021 study, seen by City A.M., found that UK employees are working two hours more unpaid overtime per week [...]
Marlowe boosts annual profit by a third as acquisition spree continues June 23, 2021 Specialist health and safety firm Marlowe saw its annual pre-tax profit jump 31 per cent to £17.1m as a flurry of acquisitions deepened its presence in the market. Marlowe also pushed its revenue up by 15 per cent to £192m, as well as boosting its net cash before acquisition and restructuring costs to £28.3m. The [...]
Draper Esprit pulls out of AIM ahead of float on main market June 23, 2021 UK venture capital firm Draper Esprit has confirmed plans to move from the AIM to the main market of the London Stock Exchange. Draper said that the company had reached a size “to justify its migration from the AIM market” following a year of portfolio strengthening. “The company hereby gives notice of the intended cancellation [...]