UBS expects to complete Credit Suisse deal within a week June 5, 2023 UBS expects to complete the acquisition of Credit Suisse as early as 12 June but reports suggest its next earnings statement will be delayed until the end of August. In a regulatory filing today, UBS confirmed Credit Suisse will be delisted from the Swiss stock exchange when the deal is complete. It said Credit Suisse [...]
Oil prices rise as Saudi Arabia pledges further cuts at crunch OPEC+ talks June 5, 2023 Oil prices are up on both major benchmarks after Saudi Arabia cut output by another million barrels per day from next month.
Ryanair slams EU chief for ‘ignoring’ a million passengers during French strikes June 5, 2023 Ryanair has hit out at the President of the EU Commission Ursula von der Leyen, for “ignoring” over a million passengers calling for the protection of overflights during ongoing strikes action. The budget airline said it is “utterly unacceptable” that von der Leyen is “ignoring these more than 1.1 million passengers, who are sick and [...]
Amicorp’s fund services arm will float in London and eyes £100m valuation in boost to the City June 5, 2023 Amicorp’s fund services arm will float on the London Stock Exchange this week with plans to raise $6.47m (£5.21m) in new ordinary shares and scale up its IT operations. The Hong Kong-based global management services group said the official price of the IPO will be revealed following a book building process – with the group [...]
Diageo chief Sir Ivan Menezes has emergency surgery before retirement as first female CEO takes charge June 5, 2023 Spirits giant Diageo has announced the appointment of its first female chief executive following the retirement of long-term boss Sir Ivan Menezes, who’s now in hospital. The appointment of Debra Crew as interim chief executive was announced this morning, while its existing chief undergoes emergency surgery. He will formally retire at the end of the [...]
Craft breweries battered by soaring operational costs June 5, 2023 Soaring operational costs and a greater competition between brands have battered the UK’s brewery industry with the number of beer factories going under tripling over the past year. The number of breweries which have become insolvent has risen from 15 to 45 over the last year, new figures out from audit, tax and advisory firm [...]
London seals European finance investment crown every year since Brexit June 5, 2023 London is beating away the dire warnings that Brexit would knock it off its perch as Europe’s top finance hive and is even drawing in more investors amid high inflation and interest rates, a new report out today unveils. Foreign investors pumped cash into 46 financial services projects in the capital last year, up from [...]
British businesses mull ‘onshoring’ supply chains in response to soaring costs June 5, 2023 Snags in international supply chains lingering on from the Covid-19 pandemic are steering mid-sized businesses toward bringing their production lines back to the UK, a new survey out last night showed. Research by consultancy BDO found just under 50 per cent of the 500 firms they surveyed are considering “onshoring” as much of their operations [...]
Here comes the sun: Households are key for a solar rooftop revolution June 5, 2023 A bumper year for renewables will be powered by solar power installations, and the government needs to use this momentum to reach net zero.
The Notebook: Andy Coulson on Succession, female leaders and Monday madness June 5, 2023 After five days of ‘spoiler alert’ dodging, I settled down to watch the finale of Succession this weekend. Having caught the odd review headline, I was poised for something special. And yet … why did I find the ending just a bit disappointing? The answer, of course, is simple: It Should Have Been Shiv. Tom’s [...]
