Cadbury-owner Mondelez to buy UK protein bar brand Grenade for £200m March 22, 2021 Mondelez, the US owner of Cadbury, is preparing to announce a £200m deal to buy British protein bar brand Grenade. It has secured a deal with Grenade’s majority shareholder to buy the sports nutrition firm, Sky News reported. The deal – which would be Mondelez’s most significant UK takeover since it acquired Cadbury in 2009 [...]
Turkish lira slumps to near-record low on central banker’s sacking March 22, 2021 Turkish lira slumps to near-record low on central banker's sacking
Covid-19, a year on: The Corporation and the State March 22, 2021 In this series, City A.M. looks back at the last year of the pandemic and Covid restrictions and takes stock of its impact on industries and issues at the heart of British society. Read more: Read the full Covid-19, a year on series here. The state and the market have long been locked in a cautious dance. [...]
Phase out: UK to have just one coal-burning plant as EDF eyes West Burton closure March 22, 2021 UK to have just one coal-burning plant as EDF eyes West Burton closure
B&Q owner Kingfisher toasts click & collect success as sales surge March 22, 2021 Kingfisher, the owner of B&Q and Screwfix, this morning announced that sales and profit surged last year, boosted by its click and collect offer, as consumers began DIY projects during lockdown. Sales were up 7.2 per cent to £12.3bn and profit after tax was £592m, up from £8m in the previous year. Adjusted post-tax profit [...]
CMA investigates publisher Penguin’s $2.2bn takeover of Simon & Schuster March 22, 2021 The competition watchdog is investigating if the $2.18bn takeover of Simon & Schuster by publisher Penguin Random House may hurt competition. The Competition and Markets Authority (CMA) has until 19 May to decide whether to refer the merger to a more in-depth ‘phase two’ investigation, A spokesperson for Penguin Random House said: “We announced last November that Penguin Random [...]
Investors sue Hargreaves Lansdown over losses linked to Neil Woodford collapse March 22, 2021 Investors who lost money when Neil Woodford’s flagship fund collapsed are suing financial adviser Hargreaves Lansdown and corporate director Link in a bid to recoup their savings. The legal action, led by RGL Management, will centre around losses sustained directly as a result of the failure of the Woodford Equity Income Fund in 2019. It [...]
Is Sadiq Khan’s re-election as London Mayor inevitable? March 22, 2021 On Thursday 6 May, Londoners will go to the polls. Or, more likely, many won’t; turnout last time was 45 per cent to elect a new mayor, or else confirm the incumbent in office. This is the largest single exercise in democracy the UK has, excepting referendums, with an electorate of around five and a [...]
NatWest £365m money laundering case linked to separate case involving infamous gold dealer James Stunt March 22, 2021 Criminal money laundering charges against NatWest are linked to a separate case against 13 individuals based in cities around the country. The Financial Conduct Authority (FCA) started a criminal action against NatWest last week, making it the first bank to be charged under a 2007 money laundering law. The FCA accused NatWest of failing to monitor suspect activity by [...]
US trials show Astrazeneca vaccine safe from blood clot risk and highly effective March 22, 2021 The Astrazeneca Covid-19 vaccine made with Oxford University was 79 per cent effective in a large US trial at preventing symptomatic illness, and was 100 per cent effective against severe or critical disease and hospitalisation, the FTSE-listed drugmaker said this morning. The positive data comes after many countries resuming use of the vaccine after the European [...]
