British Business Bank increases funding over a fifth to £8bn September 16, 2020 The UK’s economic development bank has today reported that it supported over 98,000 businesses with around £8bn in financing in the last financial year. The British Business Bank (BBB), which has come to increased prominence in the last six months due to its role in helping UK firms impacted by the coronavirus pandemic, said in [...]
Facebook shares dip after Kim Kardashian West announces boycott September 15, 2020 Shares in Facebook dipped this afternoon after Kim Kardashian West announced that she was freezing her account in protest against the sharing of misinformation on the social media platform. In a post on the site, she wrote: “I can’t sit by and stay silent while these platforms continue to allow the spreading of hate, propaganda [...]
Donald Trump welcomes ‘dawn of new Middle East’ as Israel signs deals with Bahrain and the UAE September 15, 2020 Donald Trump hailed the “dawn of the new Middle East” at the White House this afternoon as Bahrain and the UAE signed historic deals with Israel. The Gulf states are the first Arab nations to officially recognise Israel in over a quarter of a century. Egypt, in 1979, and Jordan, in 1994, are the only [...]
Premier Oil shares jump on Chrysaor refinancing talks September 15, 2020 Shares in Premier Oil rose 7.9 per cent today after the firm confirmed that it was in talks over a potential refinancing alternative with fellow North Sea company Chrysaor. Last month the FTSE 250 firm outlined the main terms of a deal with its creditors to extend the maturities on its £2.2bn debt pile until [...]
Octopus Renewables Infrastructure Trust posts ‘very strong’ maiden returns September 15, 2020 Green energy investment fund Octopus Renewables Infrastructure Trust (ORIT) today reported it had achieved “very strong” shareholder returns in its maiden set of results. The fund, which first listed in December 2019, confirmed it was pursuing its full £3.8bn pipeline of wind and solar assets despite the impact of the coronavirus. The figures By the [...]
Global oil demand set to fall as coronavirus recovery stalls September 15, 2020 The International Energy Agency (IEA) today reduced its forecast for global oil demand for the year, saying that the continued uncertainty caused by coronavirus shows little sign of abating. Oil markets have been rocked by unprecedented volatility this year, with the near-total shutdown of air travel and other restrictions on economic activity sending demand plunging. [...]
Mitie-Interserve deal to face competition probe September 15, 2020 The UK’s competition watchdog today announced that it was launching an investigation into whether Mitie’s acquisition of fellow outsourcing giant Interserve’s facilities management business could damage competition. Back in June Mitie signed a £271m deal with its rival for the division, which will create a giant new entity with more than 80,000 employees. The move [...]
Exclusive: Private jet flights soar back as commercial recovery lags September 10, 2020 The European private jet industry has recovered at a far quicker rate than its commercial counterpart, City A.M. can reveal, in a rare glimmer of light for global aviation, which has been hammered by coronavirus. According to data from business jet brokers Colibri Aircraft, the number of European business aircraft departures in July was only [...]
Bring in airport testing by end of the month or risk ‘ruin’, airline bosses warn September 10, 2020 The bosses of the UK’s largest airlines have called on the government to implement an airport testing regime by the end of the month, warning that the country risks “economic ruin” otherwise. In a letter to Boris Johnson, the chief executives of British Airways, Easyjet, Ryanair, Virgin Atlantic, and Tui, among other, said that the [...]
National Grid names Paula Rosput Reynolds its first female chair September 10, 2020 National Grid has appointed seasoned executive Paula Rosput Reynolds to replace Sir Peter Gershon as chairman when he steps down next year. Rosput Reynolds, 64, currently holds a clutch of other directorships at some of the world’s largest companies, including BP, BAE Systems, and GE. She used to be chair and chief executive of Safeco, [...]
