Business of Space: Big decisions for satellite giants – to merge or to share? weekly column City A.M.’s Millie Turner offers up a roundup of the most important news across the space industry, every Friday. Inmarsat prepares for rival takeover SpaceX and OneWeb pledge cooperation NASA’s Artemis programme heads for major test Inmarsat: Nearly over the dotted line British satellite darling Inmarsat is getting increasingly closer to a successful takeover by US rival Viasat, as pressure [...]
Shares in defence supplier Ultra soar as Kwarteng hints of £2.6bn takeover approval national security The £2.6bn takeover of UK defence supplier Ultra Electronics by private equity-owned Cobham is reportedly set to receive a green light from the government. Business secretary Kwasi Kwarteng announced on Thursday that he is “minded to accept undertakings offered”, despite national security concerns. The move seemingly sparked the interest of investors, as Ultra’s share soared [...]
City of London to ignite UK space boom, says science minister exclusive Britain’s space boom could be supercharged by the City of London’s expertise and financial muscle, the minister responsible told City A.M. yesterday. While the global space economy has spent the last 40 to 50 years recovering from a Cold War hangover, “We’re now in the hockey stick of a huge commercial space boom,” science, research and innovation [...]
Retail sales volumes fell last month as the cost of living crunch eats into April’s gains June 24, 2022 Retail sales volumes fell by 0.5 per cent last month, according to the latest figures, as the cost of living crisis eats away at gains made in April. While the figures suggest current inflation levels and concerns over a recession have Brits’ pinching their purse strings, sales volumes were 2.6 per cent above pre-pandemic levels, [...]
Vacant homes in London increase by the thousands, fuelling squeezed supply June 24, 2022 Westminster has seen the number of vacant but owned homes jump by 48 per cent over the past year – the equivalent of nearly 2,500 homes – as property demand in London outpaces supply. London is the only region of England which has seen the number of vacant homes rise over the past year, according [...]
Rampant inflation swells UK debt interest bill and pushes up government borrowing June 23, 2022 Inflation is swelling the UK’s interest bill and forcing the government to borrow more money to pay investors, official figures released today revealed. The amount of money the government paid to holders of UK debt jumped just over 70 per cent over the last year, reaching £7.6bn in May, up from £4.5bn last year, according [...]
GSK to inject £1bn into new vaccines, as demerger leaves it with ‘less distractions’ June 23, 2022 GSK has announced it will inject £1bn into the research and development of infectious diseases over the next decade, just weeks after a major demerger. The British pharmaceutical giant will focus on diseases that disproportionately impact lower-income countries, in a move predicted by analysts since GSK split from its consumer healthcare division, now a separate [...]
Boohoo poaches Trainline CFO weeks after retailer saw first-ever sales drop June 23, 2022 Boohoo has poached Trainline’s former finance lead as its new chief financial officer (CFO), just weeks after the retailer posted its first-ever sales drop. It comes amid a turbulent period for fast fashion brands. Rival retailer Missguided collapsed in late May, after being hammered by spiralling supply chain costs. Shaun McCabe, who has sat on [...]
Rail strikes to halt commutes again as RMT union boss warns of more to come June 23, 2022 Rail strikes are set to hit London and the rest of the country again today, as union members picket outside an unusually quiet Euston Station. While Tube services are running, delays are expected to hang over from yesterday’s bout of industrial action. RMT union general secretary Mick Lynch, who joined picketers for the second of [...]
Moderna to open vaccine hub in the UK in £1bn investment June 22, 2022 Famed Covid-19 vaccine maker Moderna is set to open a vaccine research and manufacturing centre in the UK, the health secretary has unveiled today, in a £1bn investment. It will seat the UK in a prime position in the development of new vaccines and therapeutics for a range of respiratory diseases, including Covid-19, as well [...]
