Fears among energy providers that colder temperatures will lead to collapse October 18, 2021 The UK energy industry fears that, after small providers have gone bust because of the energy cap, now it’s the turn of big companies especially as temperatures go down. As reported by the Times, even if 13 companies have ceased operations in the last couple of months the UK Government has refused to set up [...]
No more new homes: housebuilding market will not recover before 2026 October 18, 2021 The UK housebuilding market will not recover until 2026, said property agent firm Savills. As reported by the Times, Savills has estimated that the volume of houses being built will not go back to pre-pandemic levels before five years and, even then, will still be 20 per cent less than the UK Government’s targets of [...]
Game on: Aristocrat bets £2.7bn on takeover of gambling platform Playtech October 18, 2021 Gaming technology company Aristocrat is acquiring the entire issued and issued ordinary share capital of gambling platform Playtech for 680p in cash per share. The acquisition, made through a subsidiary of Aristocrat – Bidco – has an approximate value of £2.1bn on a fully diluted basis, with £2.7bn value on an enterprise value basis. “This [...]
UK business insolvencies highest in September October 16, 2021 September registered the highest number of business insolvencies since March 2020, reported the BBC. The number of companies going bust increased from 1,349 in August to 1,446 the next month. Compared with the same month last year, in September 2021 56 per cent more firms shut down, including energy providers People’s Energy and Igloo Energy. [...]
Goodbye Alitalia: Italy’s new carrier to join airline alliance October 16, 2021 Alitalia’s successor ITA Airways will join the Skyteam alliance from next year, reported Reuters. ITA Airways’ chairman said yesterday that the new-born company aims to renegotiate the place within the Skyteam alliance that once belonged to Alitalia, partnering up with other airlines such as Lufthansa. “ITA has been created to be a strategic element in [...]
Obama to attend COP26 and meet activists October 16, 2021 Former US President Barack Obama has announced his attendance at the COP26 summit, which will take place between 31 October and 12 November in Glasgow. “Barack Obama will meet with activists and put the threat of climate change in [a] broader context – laying out the important progress made since the Paris Agreement took effect, [...]
Come dine with me: Johnson to host dinner for business leaders October 16, 2021 Prime Minister Boris Johnson is expected to host a dinner with some of the business world’s leading players – including Bill Gates and JP Morgan’s chief executive Jamie Dimon – reported the Telegraph. Invited to Downing Street, the 20 business leaders will be joined by the Prime Minister and the foreign secretary Liz Truss for [...]
Goldman Sachs on track for record full-year profit October 16, 2021 Goldman Sachs is on track for a record full-year profit after a week of skyrocketing bank earnings from a boom in dealmaking, reported the Financial Times. The group registered third-quarter earnings per share of $14.93 on a net income that increased from $3.4bn in 2020 to $5.4bn this year. As reported by the paper, the [...]
Shapps echoes Sunak saying Christmas gifts will be available October 16, 2021 Transport secretary Grant Shapps has echoed Chancellor Rishi Sunak and said that Christmas gifts will be available despite the backlogs witnessed at UK ports. “People will be able to get things for Christmas,” he told Sky News. “When I talk to the ports they said it is a busy picture, but if you compared us [...]
Home Secretary: MPs security review under way October 16, 2021 Home Secretary Priti Patel has announced that a review of MPs’ security measures is under way after the fatal stabbing of Essex MP Sir David Amess. As reported by the BBC, Patel said that “acts like this are absolutely wrong and cannot get in the way of our functioning democracy,” adding that appropriate security will [...]
