Federer-backed shoemaker aims for $6bn valuation from New York float September 8, 2021 A shoemaking company backed by Swiss tennis star Roger Federer is aiming for a valuation of more than $6bn in its upcoming US float. The company, known as On, filed for an initial public offering (IPO) in the States in late August, after its net sales jumped by 85 per cent in the first half [...]
Intel to inject up to €80bn into its chip making capabilities amid drought September 8, 2021 Technology heavyweight Intel is looking to invest as much as €80bn into shifting its focus onto bolstering its chip making capacity, amid a global shortage. Semi-conductor chip supplies, which are used in a wide variety of electrical products, have dwindled during the pandemic. But Intel’s boss, Pat Gelsinger, said the company is due to announce [...]
Morrisons goes to auction: Fortress and CD&R escalate bidding battle September 8, 2021 The bidding battle over supermarket giant Morrisons has escalated, and appears to be heading for a conclusion after the supermarket confirmed it was headed for auction. Private equity bidders Fortress and Clayton, Dubilier & Rice have spent the past two months outbidding each other in an attempt to acquire what many analysts believe is an [...]
Revenue lifts at fresh food provider Bakkavor, but labour shortages bite September 8, 2021 Fresh food provider Bakkavor’s revenue has lifted above pre-pandemic levels, despite “unprecedented challenges in labour availability” which risk its operations running stale. Like-for-like revenue swelled by 6.4 per cent to £924.9m in the six months to 26 June, and 1.2 per cent ahead of the same period in 2019. The Fitzroy headquartered-based company, which [...]
Revenue lifts at fresh food provider Bakkavor, but labour shortages bite September 8, 2021 Fresh food provider Bakkavor’s revenue has lifted above pre-pandemic levels, despite “unprecedented challenges in labour availability” which risk its operations running stale. Like-for-like revenue swelled by 6.4 per cent to £924.9m in the six months to 26 June, and 1.2 per cent ahead of the same period in 2019. The Fitzroy headquartered-based company, which [...]
Fem-tech keen investors pile £70m into British BlackRock-backed Elvie September 7, 2021 Women’s health technology firm Elvie has raised a total £70m in its latest capital rally, as investors are increasingly eyeing fem-tech as a more viable investment avenue. Investors piled an additional £12.7m into the fem-tech firm’s BlackRock-led Series C, after the company bagged some £30.4m in Series B funding back in 2019. The latest fundraiser, [...]
BBC director of news Fran Unsworth to exit next year September 7, 2021 The BBC’s director of news and current affairs, Fran Unsworth, is set to depart next year after four decades with the corporation. Unsworth said she feels the time is right to exit the coveted position, which she entered in 2018, after having a “ringside seat” at some of the world’s most era-shaping events. The departing [...]
UK chip maker takeover by Chinese firm halted on ‘national security grounds’ September 7, 2021 The merger between UK-based chip maker Perpetuus Group China’s Taurus International has been halted by the business secretary on “national security grounds”. Business secretary Kwasi Kwarteng on Sunday issued a public interest intervention notice to intervene in the proposed acquisition. The Competition and Markets Authority is now set to form a report into the transaction [...]
DS Smith reaps rewards of online shopping boom, but sees costs climb September 7, 2021 Packaging giant DS Smith has reaped the rewards of Europe’s pandemic-induced ecommerce boom, with its box volumes swelling past pre-pandemic levels. In its latest trading update, the European group said growth in box volumes had been recorded both in 2019 and in 2020 in the months to 1 May, driven by the demand in ecommerce [...]
US Nvidia’s $54bn UK Arm buyout faces EU competition concerns September 7, 2021 European Union officials have reportedly voiced competition concerns over US tech giant Nvidia’s purchase of UK chip design company Arm, in the deal’s latest wave of opposition. The Competition and Markets Authority (CMA) echoed the EU’s sentiment last month, saying the sale raises “serious competition concerns.” The California-based company is preparing to file for regulatory [...]
