Chris Tremlett: India tours pose unique challenges, even more so at this time February 3, 2021 An India tour can feel very alien for a cricketer, as England’s players there for a Test series that begins on Friday will know. It is a completely different culture to other places you visit, like Australia, South Africa and the Caribbean, and poses unique challenges. Cricketers are like gods to Indians, so when you [...]
Eurostar is ‘not our company to rescue’, says Grant Shapps February 3, 2021 The transport secretary has poured cold water on hopes that the UK would lead the rescue of the struggling Eurostar rail link. Speaking to MPs on the Transport Select Committee this morning, Grant Shapps said that the cross-channel service was “not our company to rescue”. Pointing to the fact that the French government owned the [...]
City Moves for 3 February: Who is switching jobs in the Square Mile this week? February 3, 2021 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. New head of UK business for BNP Paribas REIM French firm BNP Paribas Real Estate Investment Management (BNP Paribas REIM) has appointed a new UK business head to manage its multi-billion-pound real estate [...]
Cabinet minister rubbishes Sunak’s plan to give Universal Credit claimants one-off £1,000 payment February 3, 2021 Work and pensions secretary Therese Coffey has rubbished Rishi Sunak’s idea of giving a £1,000 lump sum payment to Universal Credit holders in what is a new front in an ongoing cabinet row about welfare payments. Coffey told MPs today that Sunak’s lump sum payment idea, intended to offset a cut in a temporary uplift [...]
When will the fun and GameStop? February 3, 2021 Retail and day traders dealing in shares and other assets that Wall Street funds bet against may not be new; Wallstreetbets, the Reddit group at the centre of the story, itself has been in existence since 2012. However, with retail investors buying in such numbers as recently, the group has captured worldwide attention. Perhaps the [...]
Regulator grants challenger lender Cashplus a full banking licence February 3, 2021 Digital challenger bank Cashplus has become the latest London-based fintech to secure a full UK banking licence. Following the Prudential Regulation Authority’s approval, Cashplus is the UK’s newest licensed bank despite being founded in 2005 and serving more than 1.6m small business customers. Like its digital peers, Cashplus offers current accounts for UK SMEs, currently [...]
United Utilities pockets £88m for stake in Estonian water company February 3, 2021 United Utilities has agreed to a £88m cash deal to sell its 35.3 per cent stake in the largest water utility company in Estonia, Tallin Water. The utilities company will sell the stake to a consortium led by the Estonian city of Tallinn, which is an existing partner of United Utilities, alongside company Utilitas. Company [...]
Number of FTSE 100 top positions held by black people drops to zero February 3, 2021 There is not a single black business leader at any FTSE 100 company in the UK despite businesses pledging to do more for racial inequality. Research by executive recruitment consultancy Green Park has found that the number of black people filling leadership positions of chairman, chief executive or finance chief at FTSE 100 firms is [...]
Asda’s petrol station business sold to EG Group for £750m as part of takeover deal February 3, 2021 The Issa brothers and TDR Capital have announced that they will sell Asda’s petrol station business to EG Group, which they also own, for £750m after they complete their deal to buy the supermarket giant. The consortium announced this morning that the Asda deal is expected to complete later this month, subject to regulatory approval. [...]
Asset managers call for urgent action on Libor transition February 3, 2021 Investment managers are calling on FTSE 350 companies to “step up” their efforts to transition away from Libor-linked bonds worth £108bn. “With the deadline now fast-approaching, there remains a significant number of outstanding Libor-linked bonds which have not yet transitioned to a new rate,” The Investment Association (IA) said in a letter to companies issuing [...]
