Businesses urged to snap up £850m in unused Covid-19 support February 10, 2022 Businesses have been urged to apply for Covid-19 supports grants, after the business minister admitted today that £850m worth of funding is still up for grabs. The funding has been made available by government to councils in England, for them to distribute to businesses in need. More than £550m is still yet to be allocated [...]
Cazoo raises $630m to support EU expansion and UK growth February 10, 2022 Online car retailer Cazoo has raised $630m from investors to fund its expansion into Europe, while the UK side of the business continues to grow. Investors led by Viking Global will buy via a private placement 2 per cent convertible senior notes, which will then be turned into Class A ordinary shares and sold at [...]
UK watchdog probes audit of Sanjeev Gupta’s Liberty Commodities, in wake of Greensill scandal February 10, 2022 The UK’s audit watchdog has launched an investigation into HW Fisher’s audit of Sanjeev Gupta’s metals trading company Liberty Commodities, after eight companies linked to the steel magnate borrowed up to £400m from collapsed firm Greensill Capital. The Financial Reporting Council (FRC) said it has launched a probe into London accountant HW Fisher’s audit of [...]
Households under pressure to cut down energy use under new smart meter plans February 10, 2022 Millions of British households could face growing pressure to ration their energy after three of the UK’s largest energy suppliers declared their support for a radical overhaul of energy pricing. Scottish Power, EDF and Octopus Energy told The Telegraph they support radical new tariffs under which customers will be charged more for using energy during [...]
John Major: Johnson broke lockdown laws and is eroding British democracy February 10, 2022 Boris Johnson broke his own lockdown laws and is eroding trust in British democracy, according to former Prime Minister John Major. Major launched a withering attack on the PM today, saying his response to the partygate scandal made the government “look distinctly shifty” while too often “the truth has been optional” for ministers. Major has long [...]
Gucci plots metaverse as it snaps up virtual real estate in The Sandbox February 10, 2022 Luxury fashion house Gucci is launching into virtual reality with plans to build its own metaverse on digital real estate platform The Sandbox
Gym firm backed by Rishi Sunak’s wife to call in administrators February 10, 2022 Administrators are to be called in for the gym chain backed by Rishi Sunak’s wife. Digme Fitness was hammered by Covid measures, which saw gym goers turn away from the business’s London sites. Digme Fitness, which was founded by a former City lawyer, has eight gyms, including those dotted around the Square Mile, including near [...]
AI and Big Data to be ‘most disruptive’ tech in pharma industry in 2022 February 10, 2022 AI and Big Data as a powerhouse duo will be the ‘most disruptive’ emerging technology in the pharmaceutical sector in 2022. This year is anticipated to be studded with high-figure tech deals within the healthcare space, after hailed Covid-19 vaccine maker AstraZeneca and BenevolentAI expanded their drug discovery partnership just weeks ago. “Undoubtedly AI [...]
Higher interest rates and rebounding loan demand to boost UK banks February 10, 2022 A higher interest rate environment and a rebound in loan demand is set to boost Britain’s biggest lenders. UK banks’ net interest margins will widen on the Bank of England and the world’s biggest central banks launching a rate hike cycle this year to tame inflation, analysts are betting. Final quarter earnings for UK banks [...]
Informa offloads Pharma Intelligence to Warburg Pincus for £1.9bn as firm shifts focus February 10, 2022 Informa has agreed to sell Pharma Intelligence to US private equity group Warburg Pincus for £1.9bn, as the UK firm looks to boost shareholder value.
