Zoom kicks off $1.5bn share issue as vaccine threat looms January 12, 2021 Zoom is set to raise $1.5bn (£1.1bn) in a mammoth share sale as it looks to maintain momentum following a bumper year of growth. The video conferencing app launched the fundraising today, adding that it could be expanded by a further $225m. Zoom did not say what it plans to do with the fresh capital. [...]
British Gas engineers launch second strike over fire-and-rehire dispute January 12, 2021 GMB union members have launched a second five-day strike in opposition to British Gas’ planned fire and rehire pay cuts and conditions. Workers will strike on 20, 22 and 25 January, as well as 1 February, GMB said. GMB national officer Justin Bowden said: “The months and months of fire and rehire pay cut threats [...]
QuadReal pumps nearly $1bn in London property January 12, 2021 Property group QuadReal has spent nearly $1bn to acquire a majority stake in seven London-based assets owned by Realstar UK. The Canadian asset manager partnered with Realstar to invest in four rental properties in New Cross, Stockwell and a 45-story tower in the heart of Elephant & Castle. Realstar CEO Ryan Prince said, “Far [...]
UK antibody trial to test early intervention in patients with mild to moderate Covid-19 January 12, 2021 Vir Biotechnology and global healthcare company GSK announced today an agreement with the UK-based AGILE initiative to evaluate a treatment in patients with mild to moderate Covid-19. Preclinical data suggests that the neutralising antibody VIR-7832 has distinguishing properties which enhance the ability to clear infected cells and boost the function of virus-specific T cells, which [...]
Retail tycoon Philip Day secures deal to save Edinburgh Woollen Mill’s future January 12, 2021 Billionaire businessman Philip Day has reportedly secured a deal with overseas investors to rescue retailers Edinburgh Woollen Mill, Ponden Home and Bonmarche, in a move that could save around 2,500 jobs. Day is expected to use his secured creditor status to acquire the brands’ assets from administrators to then sell them on to Middle Eastern [...]
Bank of England bosses reassess 2021 GDP and jobs numbers as UK economy faces ‘darkest hour’ January 12, 2021 Bank of England boss Andrew Bailey and his deputy Ben Broadbent have today both signalled the effects of the UK’s third Covid-19 lockdown. In separate speeches, Bailey and Broadbent spoke on the impact of the current nationwide lockdown, the furlough extension and consumer behaviour. The UK economy was facing its “darkest hour”, but Bailey also [...]
Landlords suffer slump in retail and hospitality rent collection in December January 12, 2021 Commercial landlords struggled to collect rent owed by retail and hospitality tenants in December, as the sectors continued to be hit by the impact of lockdown restrictions on trading. Landsec – the UK’s largest commercial property development and investment firm – collected just 65 per cent of the £112m due in December, compared to a [...]
Financial services M&A dips as management shifts priorities January 12, 2021 M&A in the UK’s financial services industry dropped amid the pandemic as management’s priority shifted away from deals to the preservation of cash. The UK financial services industry announced just 136 deals in 2020 down from 211 in 2019, according to exclusive EY data. Deal activity came to a near standstill at the start of [...]
Exclusive: Ted Baker uses unpaid leave to pressure staff to return to the office January 12, 2021 Exclusive: Ted Baker uses unpaid leave to pressure staff to return to the office
Moonpig confirms £1bn London listing after pandemic sales boom January 12, 2021 Online greeting card platform Moonpig has confirmed its intention to float on the London Stock Exchange, targeting a valuation of more than £1bn. The private equity-owned company, which trades as Moonpig in the UK and as Greetz in the Netherlands, has enjoyed a boom in sales during the pandemic, in contrast to its high street [...]
