Road to recovery: AA accepts £219m private equity bid November 25, 2020 The AA has accepted a £219m cash takeover offer from private equity groups Towerbrook Capital and Warburg Pincus. Shareholders in the roadside recovery business will receive 35p per share as a result of the takeover. The private equity firms plan to inject £380m into the business to help reduce its debt pile of £2.6bn as [...]
Tories call for Sadiq Khan to scrap rent control push after policy ‘failed’ in Berlin November 25, 2020 City Hall’s Conservatives are calling for Sadiq Khan to drop his rent control policy, after new analysis this week showed similar measures depleted Berlin’s supply of new flats. The new study showed the supply of rental apartments fell by 41 per cent while demand soared by 172 per cent within a year of Berlin’s rent [...]
G4S shareholders told to reject GardaWorld bid as it resumes dividend pay November 25, 2020 Security firm G4S shareholders have been urged to ignore the latest “wholly inadequate” offer from rival firm GardaWorld, which has been circling G4S for months and made multiple offers for the business. In a letter to shareholders John Connolly, chairman of the board of directors at the firm, urged recipients to reject GardaWorld’s “wholly inadequate [...]
London to buck UK trend with uptick in 2020 housing sales completions November 25, 2020 London is expected to buck the national trend to record an uptick in housing sales completions this year, according to the latest research. Completed sales across the UK are expected to fall six per cent compared to last year, an improvement on the original forecast of a 15 per cent drop, as the housing market [...]
Londoners pay ‘astonishing’ 30 per cent of UK’s capital gains tax November 25, 2020 Londoners pay nearly 30 per cent of the UK’s capital gains tax, with taxpayers in Kensington and Chelsea forking out the most, according to a new study. The research published this morning showed that London accounts for 29 per cent of the tax, despite being home to just 13 per cent of the UK’s population. [...]
London black cab advert banned for exaggerating Covid-19 safety claims November 25, 2020 An advert for London black cabs has been banned after the watchdog found it exaggerated the extent to which the taxis can prevent the spread of Covid-19. A radio ad for black cabs, which aired in July, featured a woman’s voice listing the apparent safety benefits of hailing one of the capital’s classic cars. It [...]
UK capital raising hits decade-high amid coronavirus crisis November 25, 2020 The coronavirus pandemic has driven UK companies to raise the most money on public markets in a decade, with firms scrambling for cash returning to traditional fundraising methods, analysis shared exclusively with City A.M. has shown. Listed companies have raised more than £26bn this year from London Stock Exchange’s (LSE) main and AIM markets, analysis [...]
Price of body bags up 1310 per cent: Initial govt mistakes cost taxpayer extra £10bn November 25, 2020 Inadequate stockpiles of personal protective equipment (PPE) led to the government spending approximately £10bn extra procuring additional items, a report by the National Audit Office (NAO) has found. Demand for PPE soared in England from March 2020, when NHS, care workers, and key workers in other industries started to require protection from the Covid-19 virus. [...]
Green energy — it’s bigger than the internet November 25, 2020 Last week, media outlets across the country suggested a new rule of internet etiquette: scrap unnecessary emails in order to save the planet. We should all, apparently, stop sending “thank you” emails, as the servers transmitting them use even more energy, emitting carbon and contributing to climate change. Don’t get me wrong, I am all [...]
With Brexit almost in the rear-view mirror, it’s time to get CANZUK done November 25, 2020 As the UK heads into the final weeks of the transition period, it is time for all of us in Westminster, however we may have voted in the past, to make Brexit work and look beyond the EU to our global future. And as we broaden our horizons and open up to the world, it [...]
