Surge testing to be rolled out in West London after Indian variant identified May 22, 2021 Additional Covid-19 testing will begin in parts of West London in the coming days after cases of the so-called “Indian” variant of the disease was identified. Targeted settings and postcodes within Harrow, Ealing, Hillingdon and Brent will be subject to extra testing. Those with confirmed cases of the disease are isolating, with health workers in [...]
Audi to idle 10,000 workers as chip shortage continues – report May 21, 2021 German carmaker Audi will idle 10,000 staff for the second time in a matter of months due to the ongoing semi-conductor shortage. Workers at the firm’s factories in Ingolstadt and Neckarsulm will see their hours shorten as production is slowed at the sites, German newspaper Handelsblatt reported. The slowdown will come into effect next week. [...]
Used car dealer Cinch raises £1bn to speed up European growth May 21, 2021 Used car dealer Cinch this morning confirmed that it had raised £1bn from a group of blue-chip investors to fund the online platform’s expansion. Investors included a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), GIC, Neuberger Berman client funds and funds advised by Soros Fund Management. Sky first reported the raise, which [...]
UK business activity grew at fastest pace since 1998 in May May 21, 2021 Business activity in the UK expanded at its fastest rate since 1998 in May as the economy raced out of lockdown, new data today showed. A flash reading of the IHS Markit Composite PMI, which combines services and manufacturing, came in at 62.0, up from 60.7 in April. Any score above 50 indicates growth. IHS [...]
BBC may need further governance reform after Diana interview debacle, says culture secretary May 21, 2021 BBC may need further governance reform after Diana interview debacle, says culture minister
Biffa wastes no time in snapping up Viridor assets for £126m May 21, 2021 Biffa this morning said it would buy fellow waste management firm Viridor’s collections business, as well as some recycling assets, for £126m. By buying a nationwide UK collections and recycling portfolio, the FTSE 250 firm said it was cementing its market leading position. The acquisition is yet another move by the bin firm to consolidate [...]
HIG sink £325m into Travis Perkins’ plumbing business May 21, 2021 Home improvement firm Travis Perkins has this morning announced the sale of its plumbing business to an affiliate of H.I.G. Capital for £325m. The firm said that the proceeds from the sale would be given back to shareholders in the form of a 35p special dividend and, if possible, a share buyback. The deal means [...]
Rail reforms: the Fat Controller, new fares, and a ‘farewell’ to franchising May 20, 2021 After years of anticipation, and not a few false starts, the government today announced its much-lauded plan to reform the UK’s railways. Complete with pledges to “fix the broken system” and deliver a better service “for the passenger”, the white paper presents a vision of the country’s rail network that is a clear break from [...]
Trainline shares tumble a third as government announces new ticket platform May 20, 2021 Shares in train ticketing app Trainline fell nearly a third this morning after the government unveiled plans for a new ticketing platform as part of sweeping rail reforms. By the early afternoon shares in the FTSE 250 firm had recovered slightly, but were still down 21.6 per cent at 335.25p. The move from the government [...]
LSE warns Reuters paywall plan breaches Refinitiv deal terms May 20, 2021 Reuters has reportedly been warned by the London Stock Exchange Group that its plan to instigate a paywall on its content is in breach of the London bourse’s purchase of data provider Refinitiv. A letter from the LSE to the news provider, which was reported by Barron’s, says that the plan, which was announced in [...]
