Lebanese Lawyers sue UK-registered company over Beirut blast August 24, 2021 Lebanese Lawyers have filed a lawsuit against a UK-registered company over its alleged role in last year’s Beirut explosion which killed 200 people. The case was filed against Savaro Ltd, a chemical company, at the London High Court. The action was led by the Beirut Bar Association, a survivor of the blast and the families [...]
China pauses over 40 IPOs as hawkish eyes fall on intermediaries August 24, 2021 Shanghai and Shenzhen stock markets have hit pause on more than 40 initial public offerings, as Chinese regulators probe several intermediaries featuring in the deals. The Shenzhen Stock Exchange has suspended more than 30 initial public offerings (IPOs), including public listing plans by electric car manufacturer BYD’s chip-making unit, which was scuppered on Wednesday. [...]
Roger Federer-backed shoemaker files IPO in US August 24, 2021 On, a shoemaking company backed by tennis star Roger Federer, has filed for an initial public offering in New York, according to widespread reports. The Swiss shoemaker was, according to reports, valued at around $2bn after its last funding round. According to Reuters, On could pursue a valuation between $4bn to $6bn in its IPO. [...]
Imagination Technologies cashes in on chip demand amid China tech row : CityAM August 24, 2021 British semiconductor firm Imagination Technologies has posted a surge in revenue as a raging global chip shortage helped boost demand for its products. The company, which is based in Hertfordshire but owned by a Chinese private equity fund, reported a 55 per cent rise in revenue to $76m (£55m) in the first half of the [...]
Warm welcome: Airbnb to take in 20,000 Afghan refugees August 24, 2021 Holiday rental firm Airbnb has announced it will provide temporary housing to 20,000 Afghan refugees across the world. Details on how Airbnb hosts can support the initiative will be available “in the coming days,” the California-based company said. “As tens of thousands of Afghan refugees resettle around the world, where they stay will be the [...]
England and Wales record highest Covid deaths since March August 24, 2021 Data published today shows that England and Wales recorded 571 Covid-related deaths in the week ending August 13, the highest in five months. According to data from the ONS the figure is the highest since the week ending March 26 when coronavirus was mentioned on 719 death certificates. In the week ending August 13, Covid-related [...]
Power plant firms pay Ofgem £6m for false reporting August 24, 2021 Two power plant firms have today agreed to pay Ofgem £6m in redress for misreporting the amount of energy they could supply. Between March 2019 and September 2020, ESB Independent Generation Trading and Carrington Power regularly submitted misleading data to National Grid about the minimum amount of energy the Carrington power plant near Manchester could supply. [...]
Tokyo 2020: 10 Paralympics GB medal hopes including Dame Sarah Storey, Jonnie Peacock, Hannah Cockroft, Sir Lee Pearson and Jaco van Gass August 24, 2021 ParalympicsGB enjoyed a stellar Rio 2016 Games, finishing second overall in the medal table with an astounding 147 medals, 64 of those gold. Despite the Tokyo 2020 Games having been pushed back by a year, Britain still boasts a strong squad with plenty of medal prospects. The exclusion of six-time medallist Stephen Miller on the [...]
Abu Dhabi fund set to take stake in broadband challenger Cityfibre August 24, 2021 A group of investors including Abu Dhabi’s sovereign wealth fund is said to be close to taking a stake in Cityfibre in a deal valuing the Goldman Sachs-backed broadband firm at around £2bn. Abu Dhabi’s Mubadala Investment Company and Interogo Holding — the investment arm of the group behind Ikea — are leading the swoop [...]
Business blow: UK-US travel corridor could remain closed until November August 24, 2021 The UK and US travel corridor could remain closed to Brits until late November, according to reports, in a major blow for both business and leisure. Currently, the US is only allowing American citizens, their relatives and a few exempt groups into the country. Virgin Atlantic has already postponed its restart date for its Heathrow to [...]
