EU to allow UK data flow in boost for business and law enforcement February 15, 2021 Brussels will allow data to continue to flow from the EU to the UK after deciding that Britain had an adequate level of protection for personal information. A draft decision by the European Commission is expected to be approved this week, the Financial Times reported on Monday. The move will help with features of EU-UK [...]
Oil prices climb above $63 for first time in 13 months February 15, 2021 Oil prices rose above $63 for the first time since last January this morning as last week’s rally continued apace. The combination of hefty supply cuts, optimism over the global rollout of Covid vaccines, and tension in the Gulf sent prices up. Worldwide standard Brent Crude is currently up 1.2 per cent at $63.20, while [...]
Matt Hancock rules out vaccine certificates for domestic use February 15, 2021 Matt Hancock has confirmed that the government has no plans to introduce vaccine certificates to allow people to access domestic services like pubs and supermarkets. Over the weekend foreign secretary Dominic Raab caused confusion when he suggested ministers were still considering the option. That was despite multiple other officials, including vaccines minister Nadhim Zahawi, appearing [...]
Russian budget retailer Fix Price targets London listing February 15, 2021 Russian budget retailer Fix Price this morning announced plans to launch a London listing. The company, which is the largest value retailer in Russia, said the potential initial public offering on the London Stock Exchange would allow it to pursue growth and international expansion. Fix Price, which launched in 2007, has more than 4,200 stores [...]
New Ocado finance chief to take helm next month February 15, 2021 British online grocer Ocado said on Monday that its new chief financial officer Stephen Daintith will start his role on 22 March. Ocado had announced in August that Daintith, the current finance chief of Rolls-Royce, would be joining the group. Daintith has previously held senior roles at Daily Mail and General Trust, Dow Jones and [...]
Rolls-Royce picks former Deloitte partner Kakoullis as finance chief February 15, 2021 Engineering giant Rolls-Royce has named Panos Kakoullis as its new chief financial officer, as the FTSE 100 group steers through a pandemic-driven restructuring. Kakoullis, who spent 30 years at accountancy firm Deloitte, will join the company in May. Restructuring Rolls-Royce said in January that its restructuring efforts were continuing apace, with 7,000 roles removed last [...]
Mitchells & Butlers seeks £350m cash injection as major shareholders take control February 15, 2021 Major shareholders in Mitchells & Butlers (M&B), the owner of All Bar One and Toby Carvery, have taken control of the pub group as it seeks to raise £350m to keep it afloat. The firm said this morning that it intends to raise £350m through an underwritten fully preemptive open offer to address its “significant [...]
Exclusive: Cyprus-focused miner set for London float February 15, 2021 A mining firm targeting a number of gold and copper sites in Cyprus is set to announce its intention to float on London’s main market. Caerus Mineral Resources – named after the Greek god of opportunity – is looking to raise £2.3m on its main market debut. The firm will issue an announcement to the [...]
UK to set up green finance research hubs in London and Leeds February 15, 2021 The UK government will set up a new green finance research centre based in London and Leeds to advise the private sector on sustainable investments. The £10m hubs will “provide world-class data and analytics to financial institutions and services such as banks, lenders, investors and insurers” to “better support their investment and business decisions by [...]
London property developer Avanton launches £500m build-to-rent fund February 15, 2021 London property developer Avanton has launched a £500m fund to build new rental homes in the capital. The company said the fund will be used to buy land in inner London boroughs and deliver 5,000 build-to-rent homes by 2023, in a vote of confidence in the city’s recovery after Covid. It said that “despite the [...]
