French titan Schneider snatches Aveva in £9.5bn deal September 21, 2022 French industrial giant Schneider has snatched London-listed software developer Aveva in a £9.5bn deal. Schneider already owns a majority stake in the Cambridge developer as in 2017 it acquired 60 per cent of Aveva for £3bn. The £31 per-share deal, which implies an enterprise value of £10.2bn, was announced today by the companies. The offer [...]
Glennmont joins forces with MN to roll out £611m renewables fund September 21, 2022 Glennmont Partners has teamed up with MN to launch a €700m strategy to invest in renewable projects across brownfield sites in Europe.
JD Sports agrees multi-million pound exit terms with former boss Peter Cowgill September 21, 2022 Former JD Sports’ boss Peter Cowgill is set to receive £5.5m after making his departure from the sportswear retailer. After decades at the helm of the London-listed firm, Cowgill stepped down following several brushes with the competition watchdog. Now, JD Sports has said it has agreed exit terms with Cowgill, including a £3.5m payment over [...]
Investors back Sorrell’s aggressive growth for S4 Capital despite heavy losses September 21, 2022 Sir Martin Sorrell’s S4 Capital felt the bite of its own aggressive hiring strategy this morning, with losses more quadrupling in the first half of the year to £75.4m. The loss included £100m of primarily combination payments, some linked to “continued employment”, and the associated expense and amortisation totalling £93.9m versus £41.6m in the first [...]
Octopus to double payments for customers exporting solar back to the grid September 21, 2022 Octopus has announced it is doubling its payments for households exporting solar power back to the grid, to help lower peoples’ bills.
If politics is about persuasion, Truss’ speeches need to be on life support September 21, 2022 So you don’t have to, I have re-watched a number of Liz Truss’ speeches.
Taxpayers to foot the bill for half of businesses’ electricity bills September 21, 2022 Taxpayers will have to cough up half the electricity costs for British businesses this winter amid threats of blackouts.
We’re hardwired to accept bumper salaries for sports stars but not our City bankers September 21, 2022 In a bid to prove her free market credentials – and those of her chancellor – Liz Truss has widely trailed the idea of lifting the cap on bankers’ bonuses. Cue outrage from the usual quarters. At the same time, there was another headline in the Guardian on remuneration which might be thought would cause [...]
More sectors flash recession warning amid spending cooldown September 21, 2022 More sectors of the UK economy are flashing recession signals caused by consumers cutting spending in response to surging prices, a fresh survey published today reveals. Some 11 sectors out of the 14 tracked by Lloyds Bank recorded a slump in both demand and output last month. It is the fourth month in a row [...]
An energy cap is a start but the challenge has just begun September 21, 2022 Two days after her appointment as prime minister, Liz Truss unveiled the Energy Price Guarantee, the single largest fiscal intervention introduced in the UK in peacetime. In just over a week, household bills will be frozen at an average £2,500 per year – savings of £1,000 from Ofgem’s October price cap – for two years. [...]
