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. [...]
Treasury appoints Unilever veteran to chair UK Government Investments August 2, 2021 The Treasury has appointed a Unilever veteran as its new chair of UK Government Investments, who will join the board in September. Vindi Banga is set to join UK Government Investments (UKGI), an arm of the Treasury, alongside his current role of chair at charity Marie Curie. The incoming chair is also a senior non-executive [...]
Climate change activists occupy Zurich’s financial district August 2, 2021 Police this morning began clearing a group of Climate Strike activists occupying the heart of Zurich’s financial district. Around 200 activists from the Climate Strike Switzerland group gathered outside the UBS and Credit Suisse headquarters to protest the financing of environmentally damaging fossil fuel projects. According to “Rise Up for Change”, a group bringing together [...]
London’s One Palace Green mansion to be turned into luxury flats worth £100m August 2, 2021 London and Monaco residential property company REDD has bought One Palace Green on Kensington Palace Gardens, which it plans to turn into into a luxury residential scheme. Once complete, the Grade II listed mansion originally the London residence of the Howard family of Castle Howard fame, is expected to be worth more than £100 million. The property company [...]
