Generation Investment Management injects $600m into Octopus Energy September 27, 2021 Al Gore’s investment management firm has pumped $600m into Octopus Energy, sending its valuation north to $4.6bn. The agreement will see Generation Investment Management’s long-term equity strategy take an around 13 per cent stake in the supplier. Octopus is set to use the bout of extra cash to ramp up renewable energy worldwide. Managing over [...]
Space nation: UK looks to make finance more accessible for space tech firms September 27, 2021 The UK is looking to grow itself into a space nation, according to the government’s space strategy published today, as it looks to make finance more accessible for space tech firms. It marks what prime minister Boris Johnson called the “start of the countdown”, as the country readies itself to begin sending its first launches [...]
Petrol companies including BP and Shell call for cool heads amid fuel crisis September 27, 2021 A string of petrol companies including BP and Shell have called for cool heads amid the UK’s fuel crisis, urging that there is enough to go around. In a joint statement, the fuel firms, which also include Esso, Wincanton, and Certas Energy, thanks forecourt staff and HGV drivers for keeping up with the sudden surge [...]
One person killed as earthquake hits holiday spot Crete September 27, 2021 An earthquake around 6.0 on the Richter scale hit Crete this morning, killing one person and leaving 11 others injured. It was one of a series of earthquakes felt by locals in the holiday destination this morning. The European Mediterranean Seismological Centre (EMSC) reported that the largest quake had a depth of 1.24 miles. The [...]
EG Group’s billionaire Issa brothers snap up 52 KFC sites September 27, 2021 Petrol stations giant EG Group has snapped up over 50 KFC sites across the south of the UK for a not-yet-disclosed sum. It follows the Issa brother’s acquisition of Asda for £6.8bn last year with private equity group TDR Capital. The 52-KFC-site deal, with former owner of the sites Amsric Group, involves around 1,600 employees, [...]
Jerry can sales surge at Halfords as fuel panic buying grips the UK September 27, 2021 Jerry can sales surged an eyewatering 1,656 per cent at Halfords this weekend, as panic buying gripped the UK when news of a fuel shortage hit the streets. With a trickling supply of HGV drivers in the country, fuel forecourts have been reporting a reduced supply of petrol and diesel, which has led to cars [...]
Breakdown cover firm RAC urges drivers: ‘Only take the fuel you really need’ September 27, 2021 Breakdown cover company RAC has urged drivers to “only take the fuel they really need” amid a pricing crisis and widespread stock piling over the weekend. The situation has led to an increasing number of RAC patrols attending to drivers who have run out of fuel, as business secretary Kwasi Kwarteng suspended competition law to [...]
Shell Energy adopts 255,000 customers from collapsed supplier Green September 27, 2021 Shell Energy has adopted 255,000 customers from recently collapsed Green Supplier, just one week after British Gas took on 350,000 customers from People’s Energy. Industry regulator Ofgem appointed Shell Energy to take on the extra customers, whom had been fearing higher energy bills this winter as a result of losing their supplier. Outstanding credit balances, [...]
Vista Equity Partners and London-listed Blue Prism near £1bn buyout September 27, 2021 Private equity firm Vista Equity Partners is reportedly nearing an agreement with British automation software developer Blue Prism for a £1bn buyout. While it looks like smooth sailing for Vista, an investment firm with more than $81bn in assets under management, other suitors could emerge. Blue Prism’s shares slipped 2.27 per cent to 1,162p per [...]
Shortages: PM’s emergency driver visa plans slammed as a ‘drop in the bucket’ September 26, 2021 Prime minister Boris Johnson will use a temporary visa scheme to allow overseas workers into the UK in a bid to ease the country’s shortages in the lead up to Christmas. But the plan was rounded on by the Lib Dems, who this morning indicated that the number of emergency visas that can be granted [...]