Toyota pushes the pedal on self-driving tech with $550m Lyft deal April 27, 2021 Toyota is set to acquire Lyft’s self-driving technology unit for $550m, both companies confirmed today, as the Japanese firm pushes the pedal on its automation ambitions. The carmaker will pay $200m cash upfront, with the remaining $350m paid over five years, gaining access to the US ride-hailing firm’s more than 300 employees. The acquisition will [...]
UBS takes unexpected $774m Archegos hit April 27, 2021 UBS reported a surprise $774m hit following the collapse of U.S. investment fund Archegos, taking the shine off a forecast-beating 14 per cent rise in quarterly net profit. The news comes as losses from Archegos are still rippling across the global banking industry, with Japan’s Nomura posting on Tuesday its biggest quarterly loss in over a [...]
Jet2 on course for £385m loss due to holiday cancellations April 27, 2021 Package holiday provider Jet2 said that it would make a loss of up to £385m for the full year after it cancelled all trips until 23 June due to Covid-19. The firm took the decision to scrap all holidays up to that point due to the “uncertainty” regarding the resumption of international travel. As a [...]
Serco wins new jobseekers contract worth £350m April 27, 2021 Serco has this morning announced a £350m contract with the Department for Work and Pensions (DWP) to help find unemployed people new jobs. Shares in the firm rose 3.0 per cent on the back of the announcement. The FTSE 250 services provider will run the West central and Wales contracts for the “Restart” programme, which [...]
Entain hikes offer for Aussie bookie Tabcorp to £1.9bn April 27, 2021 Entain this morning hiked its offer for Australia’s biggest bookies Tabcorp to AU$3.5bn (£1.9bn), the FTSE 100 firm has confirmed. An initial approach worth AU$3bn was batted back by the company in February, but this morning Entain redoubled its pursuit. In a statement, it said: “Entain believes that the revised proposal is compelling both in [...]
In tune: Synth makers Sequential snapped up by Focusrite for £18m as revenues grow April 27, 2021 High-end synthesizer firm Sequential boasted revenues of $18.3m last year, which hit all the right notes for audio products company Focusrite to buy it for $24m today. The existing management and team will stay with the California based Sequential post-acquisition. Meanwhile, the company could receive up to $4m more, depending on its performance. Focusrite’s board [...]
Rio Tinto exec to leave after just two months in expanded role April 27, 2021 Barbara Levi, chief legal officer & external affairs at Rio Tinto, has accepted a group general counsel position at UBS and will leave the mining company by the end of October. Levi joined Rio Tinto in January 2020 as group general counsel, and then in March 2021 her role was expanded to include legal [...]
PZ Cussons sees quarterly revenue rise as Carex continues to shine April 27, 2021 Consumer goods group PZ Cussons said its revenue shot up by 4.7 per cent to £145.3m in the third quarter as strong demand for its hygiene products continued. PZ Cussons’ Carex brand performed strongly as it continued to meet the evolving needs of consumers during the pandemic. Looking forward, the company said it remained on [...]
Aveva CEO Craig Hayman steps down as revenue turns flat April 27, 2021 British industrial software firm Aveva said on Tuesday its chief executive Craig Hayman had decided to quit. The company announced that Peter Herweck would be seconded from its major shareholder Schneider Electric as his replacement from 1 May. Following the news, shares in Aveva plummeted by 5.6 per cent as markets opened. Schneider Electric holds [...]
Office landlord IWG says enquiries rebounded to pre-Covid levels in first quarter April 27, 2021 Office space provider IWG said enquiries bounced back to pre-Covid levels in the first quarter as it pushes ahead with its franchising strategy. IWG said the first three months of the year had provided a “clear inflection point, with occupancy stabilising in February and improving in March”. It said it expects the momentum to continue [...]
