Sadiq Khan sets up £500m funding facility to cover TfL finance gap September 21, 2022 London mayor Sadiq Khan has set up a £500m funding facility to cover the £230m gap left by the government’s long-term funding of Transport for London (TfL). Khan said that City Hall’s funding facility – which could not be introduced earlier because TfL’s financial gap was too big – will be available to the transport [...]
BEIS chair slams business package as a ‘waste of taxpayers’ money’ September 21, 2022 The chair of an influential Westminster panel has slammed the business support package as a "waste of taxpayers' money."
UK government to open negotiations with striking barristers following ‘constructive’ meeting September 21, 2022 The Criminal Bar Association (CBA) has said it will call off a demonstration, planned for this Thursday, following an introductory meeting with the UK’s new justice secretary Brandon Lewis. In a joint statement, the CBA and Bar Council said the introductory meeting had been “constructive” as the barrsiters’ trade bodies said “detailed conversations now will [...]
Sainsbury’s in talks to sell 18 supermarket stores to LXi REIT for £500m September 21, 2022 Supermarket Sainsbury’s is in discussions to sell more than dozen stores to real investment trust LXi REIT for around £500m. The businesses confirmed talks about a sale and leaseback deal on Wednesday, after a report by Sky News earlier this week. LXi REIT hopes to fund the deal through a combination of new equity and [...]
What are the key factors that can sink M&A? September 21, 2022 2021 saw booming markets and the release of capital from investors that had built up during the pandemic. It was a record-breaking year for mergers and acquisitions (M&A) activity. This year, circumstances are quite different. Economies are now dealing with geopolitical issues like the Russia-Ukraine war, rising inflation and interest rates, and declining company valuations, [...]
Sanjeev Gupta’s auditor King & King quit over lack of evidence September 21, 2022 The tiny firm that audits the accounts of Sanjeev Gupta’s steelmaking empire has said it resigned from auditing four of the magnate’s companies due to being unable to complete its audits because a “lack of sufficient information.” In a letter filed to Companies House, King & King said it had resigned as auditor four of [...]
Rees-Mogg hints schools, hospitals and care homes will get extended energy support September 21, 2022 Jacob Rees-Mogg has hinted schools, hospitals and care homes will get energy support for longer than the initial six months outlined for all businesses. The business secretary today said that “schools and hospitals and care homes are obviously going to be able to need to afford their energy in a year’s time”, while also emphasising [...]
Oxford Street candy stores to face tougher rules amid claims of ‘dirty money’ and tax evasion September 21, 2022 Westminster Council will come down hard on its so-called ‘dirty money’ problem, zeroing in on US-style candy stores in Oxford Street. A motion will be passed this evening as 30 confectionary shops are under investigation for business rates evasion totalling £3m. The council leader said the war in Ukraine highlighted Russian oligarch investment in Westminster, [...]
IAG boss predicts all group airlines will return to profit this year September 21, 2022 All of IAG’s subsidiary airlines will post profit this year, according to the group’s chief executive Luis Gallego. “We foresee all the airlines of the group to make profits again this year,” the chief executive told journalists on Wednesday while refraining from elaborating on specific carriers. IAG owns British Airways (BA), Iberia and Aer Lingus, [...]
German government at loggerheads over gas levy as Uniper deal looms September 21, 2022 Germany's coalition government is divided over plans for a gas levy on consumers from October, following the nationalisation of Uniper.
