A fresh £225m: UK life sciences continue to ride wave of Covid-19 momentum April 25, 2022 The UK’s life sciences sector has continued to ride the wave of momentum that has come with Covid-19, with investors increasingly alive to the sector’s opportunities. The Cambridge Innovation Centre (CIC) has raised £225m in an oversubscribed round for its second life sciences fund, it announced today. The venture capital investor, focused on life sciences [...]
FCA uses emergency powers to stop British Steel Pension scandal advisers selling assets April 25, 2022 The UK’s financial watchdog is using emergency powers to stop the firms who advised British Steel Pension Scheme (BSPS) victims from selling off assets to avoid paying compensation. The Financial Conduct Authority (FCA) has launched the emergency asset restriction rules without consultation, in a bid to stop firms from wiggling out of victims’ hard-won redress. [...]
LondonMetric Property locks sights on logistics spaces in recent buying spree April 25, 2022 LondonMetric Property has undertaken a buying spree across the city, as warehouse spaces in the capital climb to the top of the property investment agenda. The FTSE 250 property firm has dished out £26.7m on six logistics sites in the city, as Brexit and the pandemic push businesses to bring their supply chains closer to [...]
Frasers Group launches £70m share buyback ahead of new CEO April 25, 2022 Mike Ashley’s Frasers Group has launched a £70m share buyback scheme today, after the fashion retailer splashed the cash on a recent buying spree. The FTSE 100 group, which includes House of Fraser, Sports Direct and Jack Wills among others, snapped up failing Studio Retail Group in February, after pledging to spend £60m on [...]
British Land sells off £694m stake in Paddington Central to Singapore state-fund April 25, 2022 British Land has sold off a majority stake in its London Paddington Central assets to Singaporean sovereign wealth fund GIC. The London-headquartered firm, one of the largest property developers in the UK, will wrap up its majority ownership over the next three months, British Land confirmed in a regulatory filing today. The state-backed fund will [...]
UK house prices hit ‘hat-trick’ new high, climbing more than £5.5k since March April 25, 2022 The average price of a home has hit its third record high in just three months, as spiralling costs dampen the hopes of Londoners looking to climb the ladder. Prices have jumped 1.6 per cent since March – the equivalent of £5,537 – to £360,101 on average across the UK, according to Rightmove today. With [...]
Not all fluff: UK’s largest laundry service snaps up rival April 25, 2022 The UK’s largest on-demand laundry and dry-cleaning service Laundryheap has snapped up its rival to become a clothes-cleaning-behemoth.Laundryheap, founded in 2014, has bought Laundrapp from Inc Retail for an undisclosed sum. The London-based company, which partners with Holiday Inn, Premier Inn, Best Western and Just Eat, operates in 10 markets outside of the UK, including [...]
MPs say UK’s Covid restrictions on air travel were ‘disproportionate’ April 25, 2022 The UK government’s restrictions on air travel during Covid-19 were “disproportionate to the risks to public health” and led to a severe shock to the aviation sector, according to a Westminster committee. A new report from MPs on the Transport Committee also said the restrictions regime for international travel was “not transparent or consistent, nor [...]
Hong Kong insurer becomes first in Asia to open up coverage to NFTs April 24, 2022 A Hong Kong insurance firm has opened up its coverage to NFTs – becoming the first insurer in Asia to offer such a service – as the city wrestles with its pandemic-induced “isolated status”. OneDegree, one of four virtual insurers in the global financial hub, has entered a three-year partnership with German reinsurer Munich Re [...]
First commercial astronauts to return to Earth after string of splashdown delays April 24, 2022 The world’s first commercial astronauts are due to return to Earth tomorrow, after several splashdown delays over poor weather. The Ax-1 crew, which consists of three high-paying customers via commercial space firm Axiom and two space veterans, will be spend another night on the International Space Station (ISS), NASA confirmed last night. After spending a [...]