McLaren puts iconic Woking HQ up for sale for £200m September 10, 2020 Sports car maker McLaren has put its iconic headquarters near Woking in Surrey up for sale in a bid to shore up its balance sheet amid the ongoing coronavirus crisis. Sky News first reported that the firm has instructed property agent Colliers to begin marketing a sale-and-leaseback of the McLaren Technology Centre, with offers in [...]
British Airways owner IAG to cut more flights over winter September 10, 2020 British Airways owner IAG will cut more flights over the coming months than it had previously planned as the recovery in international air travel from the coronavirus pandemic stalls. In an operations update, IAG said that it would now fly at 40 per cent capacity through the autumn, down from past estimates of 54 per [...]
Lloyd’s of London falls to £400m loss due to coronavirus claims September 10, 2020 Lloyd’s of London fell to a £400m loss in the first half of 2020 after the insurance market paid out £2.4bn in coronavirus-related claims. In total, Lloyd’s confirmed that it would pay out up to £5bn in gross claims related to the pandemic. Shares in the market fell 1.7 per cent this morning. The figures [...]
Saga launches £150m raise as former owner returns September 10, 2020 Cruise and insurance firm Saga today launched a £150m capital raise this morning as the company reported a £55.5m loss for the first half of 2020. As part of the deal, former boss Roger de Haan will return to the company his father founded as non-executive chairman. He will invest up to £100m into the [...]
BP takes first step into offshore wind with $1.1bn Equinor deal September 10, 2020 BP will make its first foray into offshore wind power after it today announced a $1.1bn (£845m) deal with Norwegian energy giant Equinor to buy 50 per cent of its US offshore operations. The acquisition is the latest step in the oil giant’s push into becoming a “integrated energy company”. It plans to develop 50 [...]
British Land chief to step down in November September 10, 2020 Property developer British Land has today announced that chief executive Chris Grigg will step down after 11 years at the helm. Simon Carter, who is currently the firm’s finance chief, will take over the top job, it added. Carter returned to British Land in 2018 after spells as the finance chief at European warehouse business [...]
Government to invest £65m in new technologies September 10, 2020 The government has today announced that it will invest £65m into a range of future technologies including batteries for electric vehicles, robotics, and new medical treatments. The money will be made available through the Industrial Strategy Challenge Fund, which will help the UK build back better from the coronavirus crisis by transitioning to a low [...]
Future of Rio Tinto boss in doubt after Aboriginal cave destruction September 9, 2020 The future of Rio Tinto chief executive Jean-Sebastien Jacques is under intense scrutiny after reports that the firm’s board will discuss his tenure at a meeting this week. The FTSE 100 company is under pressure from investors to give executives additional penalties for the destruction of Aboriginal heritage sites in Australia. According to Bloomberg, the [...]
Ryanair boss Michael O’Leary slams ‘bizarre’ quarantine rules September 9, 2020 Ryanair boss Michael O’Leary has slammed the government for its handling of the coronavirus pandemic, describing its quarantine restrictions as “bizarre” and lacking in “common sense”. Speaking to Sky News this morning, O’Leary said that ministers were “making this stuff as they go along to cover up the fact that test and tracing is effectively [...]
Astrazeneca pauses Covid-19 vaccine trial after patient contracts mystery illness September 9, 2020 Drugs giant Astrazeneca last night said that it had paused trials of its potential coronavirus vaccine after one of the study participants contracted an unknown illness. The vaccine, which is being developed in conjunction with scientists at the University of Oxford, is widely considered one of the leading candidates in the hunt for a way [...]
