Dumb Bells: Puregym apologises for slavery workout October 5, 2020 Puregym has apologised “unreservedly” after one of its branches promoted a “slavery” workout to celebrate Black History Month. In a Facebook post the Luton and Dunstable gym said “slavery was hard and so is this” as it shared its “workout of the month”. The gym operator said the post was removed “as soo it was [...]
Chanel snaps up Bond Street boutique for £310m October 5, 2020 French luxury fashion brand Chanel has reportedly bought its boutique store on Bond Street for £310m in a vote of confidence for the central London commercial property market. Reports that the designer firm will pay around £70m above the £240m asking price for the property cements Bond Street’s status as a “safe haven”, despite plummeting [...]
Technical glitch in UK’s coronavirus testing system fixed, minister says October 5, 2020 A technical problem in England’s coronavirus testing data system has now been fixed and should not happen again, Work and Pensions Secretary Therese Coffey said this morning. The UK reported a record daily jump of 22,961 Covid-19 cases yesterday after authorities said a technical issue had meant that over 15,000 test results had not been [...]
Breaking: Now President Trump’s Press Secretary tests positive for Covid-19 October 5, 2020 White House Press Secretary Kayleigh McEnany this afternoon tweeted that she had become the latest of President Trump’s inner circle to test positive for Covid-19. “After testing negative consistently, including every day since Thursday, I tested positive for Covid-19 on Monday morning while experiencing no symptoms,” she wrote. She confirmed that no reporters are considered [...]
City watchdog secures £1.6m order against money laundering fugitive October 5, 2020 A fugitive businessman convicted of money laundering in one of the UK’s largest ever insider trading case should return £1.6m or have eight years added to his prison sentence, a London court ruled today. Luxury watch dealer Richard Baldwin was sentenced to five years and eight months in prison after being convicted of money laundering [...]
Hovis receives takeover offer from Italian firm Newlat Food October 5, 2020 Italian firm Newlat Food has made an offer to buy the maker of Hovis bread from its current owners Premier Foods and US investment firm Gores Group. Newlat, which is the owner of Buitoni pasta, said this morning that the 134-year-old brand has a “great tradition and recognisability in the United Kingdom”. The acquisition would [...]
Bitcoin banking app Mode lists on LSE’s main market October 5, 2020 Bitcoin banking app Mode has started trading on the London Stock Exchange, in the latest sign that life is starting to return to the capital’s IPO market. The UK fintech today listed on the LSE’s main market, raising £7.5m by way of a placing of 15m new ordinary shares. It is considerably more than the [...]
Nvidia to build UK’s largest supercomputer after $40bn Arm takeover bid October 5, 2020 Nvidia today announced plans to build the UK’s largest supercomputer, just weeks after the US tech group tabled a controversial $40bn (£31bn) offer for British chip designer Arm. The £40m supercomputer — dubbed Cambridge-1 — will be made available to healthcare researchers using artificial intelligence to find cures for a range of medical challenges, including [...]
Goldman Sachs launches healthcare equity fund October 5, 2020 As the pandemic pushes healthcare to the top of the agenda, Goldman Sachs’ asset management division has announced it is set to launch a new “supercharged” healthcare equity fund. Goldman Sachs Asset Management (GSAM) will launch the fund and provide investors exposure to companies at the “forefront of rapid innovation in healthcare”. The Goldman Sachs [...]
UK eyeing closer financial services regulation alignment with non-EU countries, says Sunak October 5, 2020 The UK is looking to align its financial services regulation with major economic powers outside the EU, according to Rishi Sunak. The chancellor said today at a fringe event at the Conservative conference that the government will “review our regulatory framework” on financial services and that “not being inside the EU more generally gives us [...]
