Brookfield weighs up blockbuster listing for asset management business February 10, 2022 Toronto-based investment giant Brookfield Asset Management is looking to spin-off its asset management business in a blockbuster listing that could value the new firm at $75bn.
Babcock finalises AirTanker £95m sale as part of disposal programme February 10, 2022 Engineering giant Babcock has finalised the £95m disposal of its 15.4 per cent stake in air transport firm AirTanker. A joint venture between Airbus, Thales and Rolls-Royce, AirTanker owns its 14 A330 Voyager planes, which uses for air-to-refuelling services for the UK Ministry of Defence. The company, part of Babcock’s aviation sector and accounted as [...]
Marble Arch mound architects slam “nonsensical” premature opening and “barbers” in UK media for negative publicity February 10, 2022 The Dutch architects behind the universally panned Marble Arch mound have hit out at Westminster City Council, the UK media, the builders of the mound, English Heritage and Historic England for the project failing to live up to its promise. In a post on their website, architects MVRDV say “anyone who visited the Marble Arch [...]
Klarna eyes up $60bn valuation with new funding round February 10, 2022 Buy now pay later (BNPL) giant Klarna is eyeing up a new funding round that could see its valuation jump to $60bn (£44bn) as it looks to fund an expansion.
Openreach adds 4000 new jobs to boost broadband February 10, 2022 Openreach announced it will create and fill more than 4,000 jobs during 2022 – including around 3,000 apprenticeships – as it continues to invest billions of pounds into its broadband network, people and training. The new recruits will be based throughout the UK, working to build and connect customers to boost the company’s Full Fibre [...]
HMRC hits under pressure Liberty Steel boss with winding up petition February 10, 2022 Her Majesty's Revenue and Customs is attempting to force a division of Sanjeev Gupta's steel empire into insolvency.
Businesses urged to snap up £850m in unused Covid-19 support February 10, 2022 Businesses have been urged to apply for Covid-19 supports grants, after the business minister admitted today that £850m worth of funding is still up for grabs. The funding has been made available by government to councils in England, for them to distribute to businesses in need. More than £550m is still yet to be allocated [...]
Cazoo raises $630m to support EU expansion and UK growth February 10, 2022 Online car retailer Cazoo has raised $630m from investors to fund its expansion into Europe, while the UK side of the business continues to grow. Investors led by Viking Global will buy via a private placement 2 per cent convertible senior notes, which will then be turned into Class A ordinary shares and sold at [...]
UK watchdog probes audit of Sanjeev Gupta’s Liberty Commodities, in wake of Greensill scandal February 10, 2022 The UK’s audit watchdog has launched an investigation into HW Fisher’s audit of Sanjeev Gupta’s metals trading company Liberty Commodities, after eight companies linked to the steel magnate borrowed up to £400m from collapsed firm Greensill Capital. The Financial Reporting Council (FRC) said it has launched a probe into London accountant HW Fisher’s audit of [...]
Households under pressure to cut down energy use under new smart meter plans February 10, 2022 Millions of British households could face growing pressure to ration their energy after three of the UK’s largest energy suppliers declared their support for a radical overhaul of energy pricing. Scottish Power, EDF and Octopus Energy told The Telegraph they support radical new tariffs under which customers will be charged more for using energy during [...]
