Amanda Staveley launches appeal over Barclays court defeat April 18, 2021 Financier Amanda Staveley has launched an appeal after losing her lawsuit against Barclays over the behaviour of the bank’s bosses negotiating investment deals. In a high-profile trial Staveley sued the lender over claims it gave her private equity firm PCP Capital Partners less favourable treatment than other parties in the emergency £7.3bn fundraising that saved [...]
Asda’s billionaire owners close in on Caffe Nero takeover April 18, 2021 The billionaire brothers behind Asda are said to be closing in on a takeover deal for Caffe Nero after buying up the ailing coffee chain’s debts. Mohsin and Zuber Issa have bought roughly £140m of loans from Swiss private equity firm Partners Group via investment bank Morgan Stanley, the Sunday Telegraph reported. The deal puts [...]
Boris Johnson ‘risks losing the red wall’ over lobbying scandal, says senior Tory April 18, 2021 Boris Johnson could lose seats in the red wall areas in the North of England if he does not get a grip on the ongoing government lobbying scandal, according to a senior Conservative MP. MP for Harwich and North Essex Sir Bernard Jenkin wrote today that the scandal was “corrosive” to the public’s trust in [...]
Hospitality firms urge Boris Johnson to stick to reopening roadmap April 18, 2021 Some of the UK’s biggest hospitality companies have urged Prime Minister Boris Johnson to “stick” to the current plan for easing lockdown restrictions. In an open letter the pub and restaurant bosses said two-thirds of venues were unable to open outdoors from 12 April and “none is breaking even”. They called on the prime minister [...]
All living Prime Ministers out of politics set to give evidence at lobbying inquiry April 18, 2021 Every living former Prime Minister that is not still involved in Westminster politics will be asked to give evidence at a major parliamentary inquiry into lobbying and anti-corruption. The probe is set to be announced tomorrow and it will be ran by Westminster’s Public Administration and Constitutional Affairs committee (PACAC). David Cameron, Gordon Brown, Tony Blair [...]
Steel tycoon Gupta raised cash through circular selling April 18, 2021 Embattled tycoon Sanjeev Gupta is facing fresh questions over his Liberty Steel empire following reports the company raised cash from Greensill Capital by selling steel that it then planned to buy back itself. Liberty Steel Newport in south Wales used a circular trading scheme where it sold steel to a company with close links to [...]
Cabinet minister says David Cameron did nothing wrong in Greensill lobbying scandal April 18, 2021 Environment secretary George Eustice has defended David Cameron for his role in the Greensill Capital lobbying scandal, saying the former Prime Minister did nothing wrong. Eustice said today that Cameron “meticulously observed the rules” around lobbying, but that he perhaps should have written instead of texted ministers when working for the failed finance firm Greensill [...]
Eurostar secures lender support as it eyes government bailout April 18, 2021 Eurostar is said to have signed a deal with its lenders to refinance hundreds of millions of pounds of debt as it looks to secure financial support from the UK government. A group of banks, including Natwest, have agreed to refinance £400m of loans that were due to be repaid this summer, the Daily Telegraph [...]
Prince Philip’s global outlook has important lessons for forward-thinking businesses April 18, 2021 There has been a huge amount written and said about the life of Prince Philip, the Duke of Edinburgh. There are also crucial lessons businesses can glean from his work. For a start, the Duke’s life of 99 years was exceptional in its length. Any business would like to be around for that long. There [...]
Revolut targets $10bn valuation in upcoming funding round April 17, 2021 Revolut is eyeing a new fundraising round which would see the challenger bank’s valuation soar to more than $10bn. Last summer the neobank raised a further $80m to close out its series D funding round from private equity firm TSG, valuing the company at $5.5bn. Now Revolut has enlisted the help of US-based investment bank [...]
