Johnson Matthey to sell health division for £325m December 17, 2021 Chemical giant Johnson Matthey (JM) announced this morning the sale of its health division for £325m to investment firm Altaris Capital. The transaction, expected to close in mid-2022, has pushed shares up 0.25 per cent to 1,997p. Upon completion of the deal, JM will receive £150m cash, retaining a 30 per cent stake in the [...]
Volkswagen to produce fewer cars in 2022 following semiconductor supply issues December 16, 2021 Volkswagen has reportedly said it might have to reduce its production forecasts for 2022 as a result of ongoing semiconductor issues. After reducing its 2021 forecasts from 9.3 to 9 million vehicles produced, the German car marker could see deliveries fall to 8 million next year, business magazine Manager Magazin reported this morning, citing sources [...]
BA’s owner IAG to pay €75m to Air Europa after pulling out of takeover agreement December 16, 2021 British Airways’ (BA) owner IAG has announced today it will pay €75m (£63.7m) to Air Europa following yesterday’s decision to pull out from a £420m takeover deal, leaving shares up 0.70 per cent at closing time. IAG said it would it would pay the rival carrier’s owner Globalia €35m, on top a €40m break-up fee, [...]
TfL to slash congestion charge after 6pm, maintaining £15 cap December 16, 2021 Transport for London (TfL) announced today that from 21 February the congestion charge will be scrapped every day from 6pm, remaining operational on weekends between 12pm and 6pm. The £15 price cap will remain unchanged, the network added. Following a 10-week public consultation involving around 100,000 people, TfL has stated that the changes will prevent [...]
Bloomsbury buys academic publisher ABC-CLIO for $22.9m December 16, 2021 Bloomsbury announced this morning it has acquired US academic publisher ABC-CLIO for $22.9m (£17.3m), pushing shares up 5.72 per cent to 351p. Out of the total deal, $22.3m were given in cash on completion, leaving $0.6m to be paid post completion. The purchase is expected to strengthen Bloomsbury’s academic reach, especially in North America. “ABC-CLIO [...]
Accès interdit: France introduces tougher restrictions for UK travellers December 16, 2021 The French Government has toughened restrictions for UK travellers. The Prime Minister’s office has announced that from 12am Saturday (CET) all those travelling from the UK will be required to show a negative Covid test – either PCR or antigen – taken less than 24 hours, as opposed to the current time of 48 hours. [...]
Thousands of passengers stuck in hour-long queues at Heathrow December 16, 2021 Passengers have been complaining of being stuck in hour-long queues at Heathrow airport, waiting for Border Force to process passengers at immigration. Former Iceland, Focus DIY and Wickes boss Bill Grimsey tweeted yesterday about “absolute chaos” at the London airport hub, calling the immigration process a “joke.” “Well this is a great start to self [...]
Heathrow airfares to rise as CAA confirms interim price cap December 16, 2021 The UK Civil Aviation Authority (CAA) has written to Heathrow, confirming the £30.19 interim price cap the airport can charge its airline customers will take effect from 1 January. According to the CAA, the charge will be £29.50 in 2020 prices, going up to £30.19 – a 50 per cent increase compared with the current [...]
Boohoo lowers guidance as more shoppers return clothes with shares plunging 22pc December 16, 2021 Online fashion retailer Boohoo has lowered its guidance for the financial year as profits have been hit by higher return rates, supply chain challenges and inflation skyrocketing. Boohoo said that it was expecting net sales growth to be between 12 and 14 per cent, for the financial year ending 28 February. It had previously forecast [...]
EU extends airport slot relief until October 2022 December 15, 2021 The European Commission announced today airport slot relief rules will run until 29 October 2022 to help airlines get back on their feet following the devastating impact of the Covid-19 pandemic. Instead of the normal requirement that compels airlines to use at least 80 per cent of their slots, carriers will now be required to [...]
