AstraZeneca and Alexion swap senior staff ahead of $39bn deal close June 4, 2021 Drugmaker AstraZeneca has poached Alexion Pharmaceutical’s chief financial officer ahead of its acquisition, as the pharma firms shuffle their senior staff. Joining with an £850,000 base salary, Aradhana Sarin will join when the deal closes as both an executive director and chief financial officer if the pharmaceutical firm’s deal for Alexion Pharmaceuticals goes to plan. [...]
Workspace group hits first losses in 12 years amid flexible working June 3, 2021 Office-space provider Workspace has tumbled into its first annual loss in over a decade today, as its rental income was hammered by work from home measures. The group posted losses before tax of £235.7m in the year to 31 March, after raking in a profit of £72.5m last year. Trading profit after interest were [...]
High Court rules Home Office’s migrant barracks broke the law after Covid outbreak June 3, 2021 The High Court has ruled today that the Home Office broke the law when it housed cross-channel migrants in a run-down barracks, where around 200 people caught Covid-19. The landmark ruling regarding the Home Office’s Napier barracks in Folkestone, Kent, could pave the way for damages claims. Migrants housed in the barracks were 12 to [...]
UK rallies Australia to up its net zero targets ahead of G7 summit June 3, 2021 The UK is rallying Australia to up its emission reduction target for the 2030s, the British high commissioner has said today, suggesting 2050 will be too late. Ahead of the UK hosted G7 meeting next week, British high commissioner Vicki Treadell said the UK was asking all attending nations to raise their interim net zero [...]
Russia’s Nordgold plots London IPO after gold price climb June 3, 2021 Russian mining giant Nord Gold has confirmed its plans today to hold an initial public offering (IPO) in London, after reaping the benefits of rising gold prices. The company, known as Nordgold, is plotting a free float of at least 25 per cent while it also plans another listing in Moscow, the group said today. Investor [...]
Private equity firm CVC bags A Bathing Ape while it eyes expansion June 3, 2021 Private equity firm CVC has bagged an investment in Japanese streetwear brand A Bathing Ape, also known as BAPE, where it will have co-control over the company. With plans to bolster the brand’s expansion, CVC will look to grow BAPE’s presence in Europe, the US and China. With the rise in popularity of online shopping [...]
Bye bye Bibi: Netanyahu could be on way out after opposition parties strike deal June 3, 2021 A coalition of opposition parties has struck a deal to remove Israeli Prime Minister Benjamin Netanyahu from power after twelve years. Centrist Yair Lapid has engineered a group including Jewish nationalists and Arab-Israelis into a wafer-thin majority in the Knesset after years of electoral deadlock in the country. If the deal makes it through Parliament [...]
HSBC backed buy-now-pay-later firm Divido raises $30m in funding June 2, 2021 Buy-now-pay-later firm Divido has raised $30m today in a Series B funding round boosted by HSBC and ING, as it eyes expansion. The retail finance company, which launched in 2014, has a white-label platform that links up lenders, merchants and partners at the point of sale, to make digital spending quicker and easier. “The retail [...]
Publisher Bloomsbury enjoys record year as books offer lockdown escapism June 2, 2021 Publishing house Bloomsbury has posted record results for the year as Brits reached for the escapism of reading during a series of lockdowns. “The popularity of reading has been a ray of sunshine in an otherwise very dark year. In an outstanding year for Bloomsbury, we delivered record results,” chief executive, Nigel Newton, said in a [...]
Tesla to spend north of $1bn for Australian electric car battery materials annually June 2, 2021 Raw battery materials from Australia alone are expected to cost Tesla north of $1bn every year, the chair of the US carmaker has said today. Australia, which is rich in natural resource, is a business go-to for its bustling mining industry and responsible production practices. Tesla is keen for minerals like lithium and nickel, which [...]
