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Novartis is reportedly mulling the sales of two of its divisions, which could flood the pharma giant with billions new capital. The Swiss-American pharma giant is engaged in early discussions for the sale of its ophthalmology and respiratory units, Bloomberg first reported, citing people familiar with the matter. The divisions, non-core assets for the firm, [...]
Hospital operator Mediclinic has voiced concern over its ability to stave of price hikes as it undergoes a billion-pound takeover. The London-listed company, which was bought by a South African consortium for £3.7bn in August, said increasing economic uncertainty, rising inflation and the risk of further Covid-19 disruption is weighing on margins. “Increasing macro-economic uncertainty, [...]
The UK is yet another step closer to becoming a space nation, with the Cornwall spaceport securing the country’s first-ever licence today. Richard Branson’s rocket company Virgin Orbit will take the title as the first business to launch from British soil before the end of the year. The company completed its full wet dress rehearsal [...]
Beazley has raised £350m in a recent share placing, as directors including the CEO build up their stakes in the insurance group. The placing, organised by JP Morgan and British broker Numis, has seen 9.99 per cent of the company’s share capital sold off to directors and investors. Buyers took advantage of an around eight [...]
British Land, one of the largest property trusts in the UK, has had its portfolio value dwindle in the past six months as the economic downturn weighs on real estate. The London-listed group reported underlying profit growth of more than 13 per cent to £136m. However, its portfolio value sank three per cent, dragged by [...]
Premier Foods’ revenues continue to rise despite inflation, as the cost of living crisis pushes consumers towards cheaper brands. The London-listed food group, which owns Batchelors, Bisto and Lloyd Grossman brands, has continued to perform well under economic pressure in the UK and across the world. Group revenue rose more than six per cent to [...]
City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email firstname.lastname@example.org to be featured. DWS German asset manager DWS has built out its London office with a new head of infrastructure research, poached from Fitch Solutions. Richard Marshall will be responsible for supporting research on the global infrastructure market and the [...]
NHS bosses and watchdogs have warned hospitals that staff may have to “depart from established procedures” to care for other patients this winter. In a letter revealed today, medical and regulatory chiefs told hospital bosses that should NHS staff have to exit procedures to fulfil other duties during heightened hospital admissions, that watchdogs will consider [...]
The UK could net up to £400m to build 10 new recycling facilities across the country under a partnership between private equity firm Crossroads Real Estate and Clean Planet Energy. Luxembourg-based Crossroads is also helping Clean Planet Energy fund its flagship ‘eco plant’ which is currently under construction in Teesside, in the North East. The [...]
American business magnate Warren Buffett’s Berkshire Hathaway has revealed a $4.1bn (£3.4bn) stake in the world’s largest chipmaker, in a rare big bet on tech. Shares in Taiwan Semiconductor Manufacturing Company (TSMC) rose 7.8 per cent to $480 (£405) a share by the time Taipei’s market closed, on the back of Buffett weight in investment [...]
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