Petrofac snaps up new deals worth £220m in Oman February 4, 2021 Oil field services firm Petrofac today announced it had won two contracts worth a combined $300m (£220m) from Oman’s petroleum development outfit. Shares in the firm rose 1.5 per cent in early trading today. The first of these, at Marmul in the south of the Gulf state, is a 30 month contract to build and [...]
SPACs: The blank cheque vehicles loved by Richard Branson, Tidjane Thiam and Wilbur Ross February 4, 2021 With backing from the likes of Richard Branson, former US commerce secretary Wilbur Ross, City grandee Martin Gilbert and even the boss of the LSE, the vehicles known as special acquisition companies (SPACs) provide a quick and easy way for private companies to go public.
Global investors set to pump £46bn into ‘resilient’ London office market this year February 4, 2021 International investors are gearing up to pump £46bn of capital into London’s office market this year in a vote of confidence in the long-term resilience of the sector, according to the latest research. London’s reputation as a safe haven and leading global city remains attractive to global investors, with the removal of the risk of [...]
Bounce back in sports? February 4, 2021 While many hoped 2021 would be a bounce back year for the sports industry, the new strain of COVID-19 has left football clubs with a number of financial concerns. Match day revenue is very important for football clubs across the industry. The situation is dire with spectators not allowed into grounds. In England’s League Two, [...]
MPs back bereavement campaign to ensure grieving families do not ‘slip through the net’ February 4, 2021 Dozens of MPs have called on the government to improve treatment for grieving families by refining the process of registering a loved one’s death. The plea came during a debate in the House of Commons on the campaign for a cross-industry bereavement standard, where ministers promised to consider the demands of supporters. More than 91,000 [...]
New UK trial will ‘mix and match’ different Covid vaccines February 4, 2021 A new trial testing whether giving people two different Covid vaccines for their first and second doses is as effective as the current approach of using the same vaccine for both has been launched. The £7m trial is the first of its kind in the world, and comes as the UK reported that more than [...]
Nokia growth knocked by losing part of Verizon 5G contract February 4, 2021 Growth at Nokia has been impacted by the firm losing part of the Verizon 5G contract in the United States to Samsung. Nokia’s new CEO Pekka Lundmark said in October that Nokia would do “whatever it takes” to take the lead in 5G. While both Nokia and its Nordic rival Ericsson have been gaining 5G customers [...]
Kaz Minerals owner tables £3.7bn bid to take miner private February 4, 2021 Kaz Minerals has this morning received an increased £3.7bn offer from Nova Resources after an earlier bid was rejected. Nova, which is led by Kaz chairman Oleg Novachuk, first made a 640p per share offer for the London-listed miner back in October. However, due to a rise in global copper prices, the firm’s shares have [...]
Retail park footfall boosted by lockdown fatigue and ‘leisure-based’ trips February 4, 2021 Shoppers flocked to retail parks last month in bigger numbers than were recorded during the first national lockdown, as fatigue with restrictions has set in, according to the latest research. Footfall at retail parks was down 42.1 per cent in January, compared to the 68.1 per cent drop reported in April, as consumers visited for [...]
Equity funds take a thrashing on resurgent Covid fears February 4, 2021 Not even the success of the vaccine rollout could take away the January blues for equity funds last month. Inflows reached a five year high in the fourth quarter at £2.4bn buoyed by the vaccine rollout, but the euphoria hasn’t lasted long. Net inflows fell by 97.5 per cent month-on-month to just £64.6m according to [...]
