JetBlue gears up to launch low-cost New York to London flights next week August 2, 2021 JetBlue is adamant its soon-to-launch London-New York route will be a success for the low-cost airline, despite launching amid a fragile recovery from Covid where restrictions change weekly. The American carrier debuts at London Heathrow on 11 August, shuttling passengers between the two global financial centres on daily flights. One daily return flight from Heathrow [...]
Medical cannabis company confirms £45m London SPAC listing August 2, 2021 Medical cannabis firm Hellenic Dynamics has confirmed that it will go public in London through a SPAC deal valuing the company at £45.2m. Through its reverse takeover deal with blank cheque vehicle UK SPAC Plc, the company will list on the LSE’s main market. Today’s announcement comes after City A.M. earlier this year revealed that [...]
Over 75% of nightlife businesses hit by isolating staff August 2, 2021 More than three quarters of nightlife businesses have been hit by staff being instructed to self-isolate, according to industry research. A Night Time Industries Association (NTIA) survey of more than 200 businesses found that 78% of bosses were struggling with staff off work in the seven days following 19 July, when lockdown restrictions ended. Masses [...]
Grab Sales Jump Ahead of Public Listing August 2, 2021 Grab, Southeast Asia’s biggest ride hailing and food delivery group, has reported strong first-quarter sales. Adjusted net sales rose 39 per cent to $507 million (£365 million) while adjusted EBITDA losses improved by $233 million year on year to $111 million. Peter Hey, Chief Financial Officer of Grab, said the firm had exceeded its internal [...]
Cazoo sees revenue grow sevenfold as New York listing nears August 2, 2021 Used car firm Cazoo today reported a second straight quarter of whopping revenue growth as it continued its rapid expansion. The company said that revenues had jumped sevenfold, from £20m in the second quarter last year, to £141m today. It sold 10,692 cars in the period, five times as many as the 2,022 it shifted [...]
Rupert Murdoch’s News Corp snaps up oil pricing and analytics company for $1.15bn August 2, 2021 Murdoch-owned News Corp has inked a deal to buy a petroleum analytics provider from S&P Global and IHS Markit for $1.15bn (£830m) in cash. Oil Price Information Service (OPIS), which provides pricing and analysis for the fuel industry, will become part of Dow Jones’ growing Professional Information Business (PIB) which includes Dow Jones Risk & [...]
Woodford investors to wait until 2022 at earliest for last £124m August 2, 2021 Investors stuck in Neil Woodford’s collapsed flagship fund will have to wait at least until 2022 to claw back the £124m remaining in the fund, it was revealed today. In an update for shareholders, fund administrator Link said that it was “hoped that the sale of the remaining assets will be concluded in 2022”. Shareholders [...]
SSE sells SGN stake for £1.2bn as energy firm completes disposals August 2, 2021 Energy firm SSE has today sold off its entire stake in Scotia Gas Networks (SGN) for £1.2bn as it completes its £2bn disposal programme. The FTSE 100 firm said that a consortium comprising existing SGN shareholder Ontario Teachers’ Pension Plan Board and Brookfield Super-Core Infrastructure Partners would buy out its 33.3 per cent stake. Shares [...]
Two-thirds of young adults in the UK are counting on inheriting wealth August 2, 2021 More than two thirds (65 per cent) of under-45s in the UK expect to receive an inheritance gift of wealth from family or friends to fund their financial goals and get on the property ladder, according to new research. Millennial and Gen Z adults are increasingly relying on the transition of wealth between generations to [...]
Scottish police decide not to use codename ‘Operation Bunter’ for Johnson visit August 2, 2021 Scottish police have U-turned on a plan to codename Boris Johnson’s trip north of the border as “Operation Bunter” out of fears that it would offend the Prime Minister. The name was a homage to chubby fictional schoolboy Billy Bunter who appeared in novels, television series’, stage plays and comic strips throughout the 20th century. [...]
