Posh paint brand Farrow & Ball bought by Danish company in €500m deal May 11, 2021 Luxury paint and wallpaper company Farrow & Ball has been bought by Danish coatings manufacturer Hempel, in a deal that values the paint retailer at around €500m. Hempel bought Farrow & Ball from American private equity group Ares Management Corporation, which reportedly paid £275m for the company in 2014. Today The Financial Times first reported [...]
‘Can I give you lunch?’ David Cameron sent more than 40 messages to ministers and officials to lobby for Greensill May 11, 2021 David Cameron complained that a decision to exclude failed Greensill Capital from a government bailout programme was “bonkers” and “nuts” in a spray of more than 40 texts and emails to ministers and officials, new documents today revealed. Evidence compiled by the Treasury Select Committee for an inquiry show Cameron messaged ministers, Treasury civil servants [...]
British Airways owner IAG boosts liquidity with €800m convertible bond May 11, 2021 British Airways owner IAG is tapping investors for €800m to strengthen its balance sheet and take advantage of the easing of restrictions this summer. The FTSE-listed company has been hit hard by the pandemic with most of its fleet grounded due to travel restrictions. It has a weekly cash burn rate of €175m meaning its [...]
What’s in the Queen’s Speech? Five key announcements May 11, 2021 Today’s Queen’s Speech outlined more than 20 different pieces of legislation the government will look to implement over the next session of parliament. The Queen delivered the government-written speech in a stripped back affair this afternoon, just days after the Conservatives made significant gains in last week’s “super Thursday elections”. City A.M. outlined five key [...]
Regulating the robots – unpacking the EU’s new AI Regulation May 11, 2021 The European Commission recently publish a first draft of its new Artificial Intelligence Regulation (AI Regulation). The AI Regulation covers both Providers (i.e. developers) and business Users of AI systems. Providers have a broad set of obligations owed to Users. Under the AI Regulation, AI systems are categorised as: – Prohibited: certain “manipulative” and “exploitative” uses of AI are outlawed [...]
Government outlines new voter ID law and plan to give PM power to call early election in Queen’s Speech May 11, 2021 The government has outlined its plans to force voters to produce ID at polling stations and to give the Prime Minister back the power to call early elections in today’s Queen’s speech. The Queen said a suite of new government legislation “will strengthen and renew democracy and the constitution”, including “to ensure the integrity of [...]
UK engages in Covid vaccine waiver discussions with the US and WTO May 11, 2021 The UK has begun seeking constructive engagement with the US and other World Trade Organisation (WTO) members on the conflicting issue of vaccine waivers, a government spokesman has said. Following pressure from charities to back the proposal, the UK government is yet to confirm whether it will back the US’ waiver. The waiver, proposed by [...]
Curve follows Series C with crowdfunding round to pursue global expansion May 11, 2021 London fintech Curve has launched a new crowdfunding campaign five months after closing its £72.5m Series C round. Founded in 2015, the company allows users to consolidate all their credit and debit cards into one smart card and app and now boasts more than 2m customers. Its Crowdcube campaign is set to go live later [...]
New kid on the block ICP breaks straight into top 10 as Doge-killer SHIBA storms in May 11, 2021 Bitcoin’s market dominance is actually up today – currently hovering above 45 per cent - having slipped to 44 per cent yesterday.
Queen’s Speech planning reforms to make building new housing developments easier May 11, 2021 The government’s planning reforms are expected to be unveiled today when the Queen delivers a speech opening a new session of parliament this morning. The speech will reportedly include legislation on reform of the planning system to allow more new homes to be built on undeveloped land. It comes as the Conservatives aim to expand [...]
