The City View: Sainsbury’s to cut prices, and the importance of UK private equity May 30, 2022 Today Andy Silvester talks to Michael Moore, Director General at BVCA. They discuss the scale of private equity and venture capital in the UK, their importance in the UK’s employment market, and how vital they are for companies looking to scale up. And in the headlines: Sainsbury’s CEO Simon Roberts has said that the supermarket [...]
Competition concerns: Morrisons’ takeover of McColl’s probed by CMA May 30, 2022 The competition watchdog is probing Morrisons’ takeover of beleaguered newsagent operator McColl’s, it has been confirmed. The Competitions and Markets Authority (CMA) said on Monday it had launched an inquiry to investigate whether the takeover will impact competition in the UK, with an initial enforcement order. The two businesses will be instructed to compete as [...]
Smiths News anticipates smaller than expected hit from McColl’s administration May 30, 2022 Newspaper distributor Smiths News has said it is anticipating a smaller than expected hit from McColl’s administration. The London-listed firm, which continues to supply McColl’s under Morrisons’ ownership, has said it has reduced its debt to £5.6m. After McColl’s went into administration, Smiths News took action to mitigate McColl’s bad debt risk, the supplier said [...]
It’s finally Appian! Court case begins over fallout from collapsed $1.2bn deal May 30, 2022 Court proceedings for Appian Capital Advisory's $1.2bn compensation claim against South Africa's Sibanye-Stillwater after a deal between them collapsed.
Former Tory attorney general calls for Johnson to resign over Gray report May 30, 2022 A former Conservative attorney-general has called for Boris Johnson to resign over the findings of Sue Gray’s report into the partygate scandal. The Kenilworth and Southam MP, who served as the government’s chief legal adviser under David Cameron and Theresa May, today said Downing Street’s pattern of brazen Covid rule breaking has “done real and [...]
Chief executive pay at FTSE 100 firms bounces back to pre-pandemic levels May 30, 2022 The sums paid out to chief executives at the City’s major listed firms have bounced back to pre-pandemic levels, after jumping 30 per cent over the previous year to five year highs of £3.62m. The pay packages mark a return to levels last seen before the pandemic and a 30 per cent increase on the [...]
Billionaire activist investor exits Generali’s board in wake of failed shareholder coup May 30, 2022 Italian billionaire Francesco Gaetano Caltagirone has stepped down from the board of insurance giant Generali, following the collapse of his shareholder mutiny to oust the insurer’s management team. The exit comes after Caltagirone put forward a shareholder resolution to block Generali’s incumbent chief executive, Philippe Donnet, from taking on a third term leading the firm. [...]
‘Resource nationalism’ is here to stay argues EV Metals boss May 30, 2022 "Resource nationalism" is here to stay following Russia's invasion of Ukraine, argued EV Metals Group chief executive Michael Naylor.
S4 Capital revenue surges as Martin Sorrell confident about digital ad sector despite economic slowdown May 30, 2022 Ad giant S4 Capital posted buoyant gross profit of £171.1m this morning, despite Martin Sorrell’s brainchild battling macroeconomic challenges and accounting delay woes. In results published on Monday for the first quarter, reported revenue was up 70 per cent to £206.8m and gross profit/net revenue up 64.6 per cent to £171.1m. S4 Capital said it [...]
Super Trouper deal: Firm behind ABBA Voyage holograms sells asset management division for £52m May 30, 2022 The London-listed tech firm behind ABBA Voyage Oxford Metrics has sold its infrastructure asset management division, Yotta, to Causeway Technologies £52m.
