Leonardo electronics division files for $700m US IPO March 15, 2021 Aerospace engineering firm Leonardo’s electronics division has today filed for an initial public offering worth $700m (£503m) in the US. According to regulatory filings, investors can get their hands on 22 per cent of the subsidiary, at a price of $20 to $22 per share. Italian firm Leonardo, which is 30 per cent state owned, [...]
Department for Transport to create 650 new jobs in Birmingham and Leeds March 15, 2021 The Department for Transport (DfT) will create 650 jobs in Birmingham and Leeds as part of plans to create new outposts in the cities. The department will open a new headquarters in the Midlands city, as well as a “northern hub” in Leeds. The plan is part of a wider government drive to move 22,000 [...]
More services and hydrogen buses in Boris’ £3bn bus ‘revolution’ March 15, 2021 Prime Minister Boris Johnson has today unveiled £3bn of funding to make buses the country’s “transport of choice”. As part of the “National Bus Strategy”, the government has pledged to deliver 4,000 new British-built electric or hydrogen buses. It will also begin a consultation on ending the sale of diesel buses as part of the [...]
DCC snaps up medical supplier Wörner for €80m March 15, 2021 FTSE 100 services firm DCC has this morning bought German medical supplier Wörner for around €80m (£68.5m). The firm supplies equipment such as PPE, COVID antibody tests, injectables, wound care to around 20,000 customers in Germany in Switzerland. It recorded revenue of approximately €70m in 2020. Irish firm DCC said that the move would provide [...]
Provident Financial reveals watchdog probe of home credit division March 15, 2021 Doorstep lender Provident Financial has today revealed that it is being investigated by the Financial Conduct Authority (FCA) over its home credit business. The probe will focus on “consideration of affordability and sustainability of lending to customers” at the division between February 2020 and February 2021. Provident said that it was aware of the need [...]
Andrew Bailey under pressure over link to RBS scandal March 15, 2021 Bank of England Governor Andrew Bailey is under fire after it emerged that he played a role in designing a scheme that left thousands of small businesses in ruin after the financial crisis. Bailey was one of those who helped the Treasury design its Asset Protection Agency, which pressured lender RBS (now Natwest) to withdraw [...]
Boris Johnson ‘deeply concerned’ by footage from Sarah Everard vigil March 15, 2021 Boris Johnson has said that he is “deeply concerned” after footage showed women being arrested by police officers at a vigil for 33-year-old Sarah Everard on Saturday night. The Prime Minister will today chair a meeting of the crime and justice taskforce to look at what needs to be done to make the streets safer [...]
House price boom continues in March as buyer demand hits record levels March 15, 2021 Record levels of buyer demand pushed the average price of new properties coming to market up 0.8 per cent last month, new research shows. According to Rightmove, the current excess of demand is the highest it has been for a decade, pushing prices up £2,484 in March. The number of potential buyers enquiring about each [...]
Vaccine rollout sends business confidence to highest levels in three years March 15, 2021 The rapid rollout of Covid-19 vaccines across Europe has led to business confidence hitting its highest levels in three years. According to IHS Markit’s global business outlook survey, business confidence now stands at +32 per cent, up from +26 per cent in October. The increase has been driven by the success of the vaccine rollout, [...]
Ministers ‘considering ban’ on new North Sea exploration March 14, 2021 The government is considering banning new licenses to explore for oil in the North Sea, in what could be the first death knell for the basin. Ministers are weighing up a number of options for the continental shelf, the Telegraph reported, including a ban on licenses from 2040 or a temporary pause in licenses. It [...]
