FCA looked at Greensill two months before its collapse May 13, 2021 The City regulator started to examine supply chain finance firm Greensill months before its collapse, it has emerged. The head of the Financial Conduct Authority told MPs on Wednesday that the regulator had had “very detailed preparatory thinking going on during January and February” before Greensill’s collapse in March. Greensill Capital was the brainchild of [...]
Balfour Beatty names broadcast boss Lord Allen as new chair May 13, 2021 Infrastructure firm Balfour Beatty this morning announced that businessman and broadcaster Lord Charles Allen would become its next chairman. The FTSE 250 firm said that Allen, a former chief executive of ITV and Granada, would take over as chair in July. A Labour peer, Allen has also been chairman of ISS and EMI Group, as [...]
Residential landlord Grainger confident in future of London’s ‘attractive’ rental market May 13, 2021 Residential landlord Grainger said it is confident in London’s ability to bounce back from the coronavirus pandemic, despite slumping rental prices in the capital. The FTSE 250 developer said this morning that its “conviction in London’s rental market remains”. “As a leading city, London will continue to be an attractive location to live in and [...]
Elon’s Bitcoin ‘energy concerns’ cause havoc, but are they all they seem? May 13, 2021 Elon Musk's meddling in the price of cryptocurrency took another twist last night as the Tesla boss announced a backtrack on accepting Bitcoin.
BT: Investors unenthused by £2bn pension funding deal as shares drop 6.3 per cent May 13, 2021 BT today announced plans to bring full-fibre broadband to an extra 5m homes as the financial burden of its pension deficit eased. The telecoms firm struck a new deal for its pension, which is one of the biggest in the country at £7.98bn. Some £2bn of deficit will be met through an asset-backed funding arrangement [...]
Government calls Sage meeting to discuss threat to UK of India’s Covid-19 variant May 13, 2021 Government calls Sage meeting to discuss threat to UK of India's Covid-19 variant
Hipgnosis bags rock catalogue with Nirvana and Paul McCartney hits May 13, 2021 Music royalties fund Hipgnosis has bought the full rights to producer and mixer Andy Wallace’s catalogue today, which hosts rock icons from Paul McCartney to Nirvana. The London-listed firm has recently gone on a song spree, buying both Dua Lipa and Justin Bieber’s back catalogue just last week. “Andy has shaped the sound of great [...]
Burberry reinstates dividend at pre-pandemic levels as sales bounce back following lockdowns May 13, 2021 Burberry shareholders will receive a payout equal to pre-pandemic levels after the luxury retailer reinstated its dividend, following strong recovery in its core markets. The designer brand said this morning that it will reinstate its full-year dividend at 2019 levels of 42.5p “on the back of strong cash generation”. In the year ended 27 March [...]
75 per cent of nightlife venues face bankruptcy when rent moratorium ends May 13, 2021 There is a £2.5bn pandemic-induced rent crisis brewing in the nightlife industry, according to the Night Time Industries Association (NTIA), which has urged the government today to offer a solution. Rising rent arrears threatens to bankrupt 75 per cent of commercial tenants in the sector, once the government’s rent moratorium ends in July, the nightclubs, [...]
Green infrastructure fund JLEN raises £57m May 13, 2021 Green infrastructure fund JLEN Environmental Assets Group today said it had successfully raised £56.9m through an oversubscribed placing. The FTSE 250 firm, which was formerly known as the John Laing Environmental Fund, said it would use the proceeds to fund a pipeline of near term opportunities. These include further investments into operational bio-energy assets and [...]
