British Airways to launch own ‘vaccine passport’ March 14, 2021 British Airways will launch its own digital “vaccine passport” in time for the return of international travel in May. Those who have had two doses of the coronavirus vaccine will be asked to log their details in BA’s existing app. The step is part of moves to entice people back to flying when the current [...]
Flutter mulls spinning off Fan Duel sports betting brand in US March 14, 2021 Paddy Power owned Flutter is mulling spinning off its Fan Duel brand in order to capitalise on the growing US sports betting market. Over the weekend the FTSE 100 firm confirmed it was looking at listing part of the brand on a US exchange, it was reported. Having first invested in Fan Duel in 2018, [...]
Gupta’s GFG Alliance took £400m in state-backed Covid loans March 14, 2021 Steel tycoon Sanjeev Gupta reportedly used now-collapsed bank Greensill Capital to borrow £400m in government-backed loans during the pandemic. Under the Coronavirus Large Business Interruption Loan Scheme (CLBILS ), firms are allowed to borrow up to £50m, with 80 per cent of the loan guaranteed by the government. But, the Sunday Times reported, Gupta and [...]
Round the bend again: TfL buckles up for crunch time in latest funding talks March 13, 2021 It’s almost like we’ve been here before. On 31 March, Transport for London will for the third time in under a year run out of money, unless it can agree a new funding deal with the government. The past two bailout packages – totalling £3.3bn – were only agreed after weeks of frantic and at [...]
G7 hits out at China for ‘fundamental erosion’ of Hong Kong democracy March 12, 2021 Foreign ministers representing the G7 group of countries have tonight expressed their “grave concern” over the Chinese government’s decision to “fundamentally erode” democracy in Hong Kong. In a statement issued by Dominic Raab, the foreign secretary, ministers said Chinese authorities were “determined to eliminate dissenting voices and opinions in Hong Kong”. Yesterday China’s parliament unanimously [...]
Tesla shareholder sues Elon Musk over tweets March 12, 2021 A shareholder in electric car firm Tesla is suing outspoken boss Elon Musk, claiming that his tweets have exposed investors to billions in losses. The claim accuses Musk of breaking a settlement reached with the US Securities and Exchange Commission back in 2018. At that time, the regulator came down hard on the South Africa-born [...]
Sterling tumbles as bond yields climb again March 12, 2021 Sterling fell as much as 0.8 per cent against the dollar today as a fresh sell-off of US Treasury bonds pushed yields higher today. After trading above $1.40 overnight, cable dropped back today, and is now sitting just below $1.39. Despite the tumble, the pound is still set for a week of solid gains against [...]
Police confirm human remains belong to missing Sarah Everard March 12, 2021 The Met Police have confirmed that the human remains found in a woodland in Kent are those of 33-year-old Sarah Everard, who disappeared on 3 March. A police officer, whose job it was to guard diplomatic buildings, remains in custody in connection of Everard’s kidnapping and murder. “I can now confirm that it is the [...]
Why Greensill’s collapse could spell calamity for Gupta’s steel empire March 12, 2021 Australian financier Lex Greensill’s financial empire has collapsed just a year after seeking a $7bn valuation. On Monday Greensill Capital filed for administration and it risks taking Sanjeev Gupta’s steel empire down with it. What went wrong for the banker and the steel magnate and how will its demise affect thousands of British steel jobs? [...]
GFG Alliance in talks with Greensill’s administrators over ‘standstill’ deal March 12, 2021 Sanjeev Gupta’s GFG Alliance is in negotiations with Grant Thornton, the administrators of collapsed Greensill Capital, over a “standstill agreement” between the two parties. It comes after court filings submitted earlier this week revealed that GFG, Greensill’s biggest client, had begun to default on repayments to the boutique bank. It has been reported that Gupta [...]
