‘Paper’ bottle maker backed by Diageo secures £20m in fresh funding round July 3, 2023 A sustainable packaging business backed by Diageo, is gearing up for a new funding round in efforts to deliver a commercial product line. Pulpex said it has secured financing from CMPC, a Chilean pulp and paper company, to enable the production and supply of over 2bn paper bottles to consumer brands worldwide by 2028. Sources [...]
City PR firm sells majority stake to global investment house as M&A boom continues July 3, 2023 ANOTHER of the City’s best-known PR firms – more used to announcing transactions than being a part ofthem – has become the subject of a multi-million pound deal. Bahrain-headquartered Investcorp has taken a majority stake in SEC Newgate for around $100m (£78.7m), valuing the PR outfit at $250m (£196.8m). SEC Newgate grew out of the [...]
LendInvest given £500m investment boost from Chetwood to fund buy-to-let mortgages July 3, 2023 LendInvest, the London-listed property fintech, has received a £500m investment boost to fund some of its future lending from Chetwood Financial. The investment will fund mortgage originations from LendInvest’s buy-to-let mortgages, aimed at professional landlords, and residential mortgages, for those underserved by high street mortgage providers. Chetwood, a Wrexham-based digital bank, has become the latest [...]
‘Short period of medical leave’ for IG Group Holdings chief ahead of results July 3, 2023 Derivatives trading firm IG Group Holdings has announced that its chief executive will be stepping aside for a “short period of medical leave” The FTSE 250-listed company made the announcement about June Felix this morning. Felix has been at the helm of IG Group since 2018 following 25 years in leading global financial services firms. [...]
Make smart meters mandatory or miss net zero goals, energy firms warn July 3, 2023 Smart meters should be made compulsory to meet net zero goals and drive down ultra-high energy bills, argued two UK suppliers.
Council trialling four-day work week ordered to ‘end experiment immediately’ July 3, 2023 A council undergoing a four-day work week trial has been ordered to stop the experiment by a minister over concerns about local residents not getting value for money. South Cambridgeshire District Council was the UK’s first local authority to launch a trial of a shorter working week for employees, and said it planned to extend [...]
Sainsbury’s results: Will efforts to keep prices low pay off? July 3, 2023 Investors will turn their focus to Sainsbury’s first quarter trading update on Tuesday to see how shoppers are reacting to the impact of food inflation amid the cost of living crisis. The supermarket is expected to post a jump in revenues driven by higher grocery sales over the quarter to June. Analysts at Shore and [...]
Tube journeys regularly hitting over 80 per cent of pre-pandemic levels as commuting rebounds July 3, 2023 Weekday tube and bus journeys are regularly hitting over 80 per cent of pre-pandemic levels and often exceed 2019 footfall figures on the weekend, according to Transport for London’s chief operating officer Glynn Barton. The most recent week of TfL tube data shared with City A.M. shows tube trips reached over 80 per cent of [...]
Tories facing biggest by-election defeat in UK history as Nadine Dorries’ seat goes up for grabs July 3, 2023 The Conservative Party is facing the biggest by-election defeat in British history in Nadine Dorries’ Mid Bedfordshire seat, pollsters at Opinium have warned. Labour is set to overturn the former culture secretary’s 24,664 majority in the ‘safe’ seat, which has voted blue since 1931. Adam Drumming, from Opinium, said: “The Conservatives are holding onto just [...]
London life back on top as country homes drop in price July 3, 2023 Soaring interest rates have softened the prices of luxury homes outside of London, according to new data, in a signal that the ‘move to the country’ trend fuelled by the pandemic is showing signs of slowing. The average value of luxury homes across UK markets outside of London – broadly the top five per cent [...]
