BA owner IAG says group will not tap investors for recovery funds September 19, 2021 British Airways owner IAG will not follow in Easyjet’s footsteps by raising billions of euros from shareholders to pull through the extended Covid crisis, the group’s chief executive has said. City eyes had turned to IAG with the expectation that it would be forced to follow Easyjet, whose shares nosedived earlier this month when it [...]
Xi Jinping yet to confirm Cop26 attendance, says Sharma September 19, 2021 Chinese premier Xi Jinping has not yet confirmed that he will attend the United Nations Cop26 climate change summit in Glasgow this year, Alok Sharma has said. Sharma, the Cop26 president, held two days of talks earlier this year in China in an attempt to cajole the country’s leadership to commit to the landmark summit. [...]
Former chancellor Hammond’s PE firm eyeing government contractor Amey September 19, 2021 Former chancellor Philip Hammond’s private equity firm is scheming to buy one of the government’s largest private sector contractors for £300m. According to Sky News, Buckthorn, the private equity firm who employs Hammond as a partner, has moved to acquire Amey. Buckthorn has submitted a bid for Amey as part of an auction being organised [...]
Former BoE chief economist Andy Haldane to lead levelling up agenda September 19, 2021 Former Bank of England chief economist Andy Haldane has been appointed by Boris Johnson to head up a new taskforce charged with leading the government’s levelling up agenda. Haldane will be head of the new Levelling Up Taskforce, which will sit in a revamped housing ministry under Michael Gove that will be titled the Department [...]
Sadiq Khan says ‘London will always lag behind’ rest of UK on vaccines take-up September 19, 2021 Sadiq Khan has said London will “always lag behind” the rest of the UK on vaccines take-up as the capital continues to trail all other English regions. The mayor of London today said London’s older and more transient population made vaccinating the capital more difficult, but defended the rollout as more advanced than in Paris [...]
Prudential turns gaze to Asia in fresh £2bn share sale September 19, 2021 Insurer Prudential is planning to offer fresh shares on the Hong Kong stock exchange to raise £2bn as it continues to shift its focus away from the UK. The proceeds will be used to pay off debt and capitalise on investment opportunities in Asia and Africa, the 173-year old insurer said. Prudential will offer nearly [...]
Sunak to launch battle plan to cut borrowing at budget September 19, 2021 Chancellor Rishi Sunak will outline plans to put the UK’s public finances on a more sustainable path at the budget next month, according to reports. Sunak is expected to set new targets for the government to stop borrowing to fund day to day spending within three years, according to the FInancial Times. The proportion of [...]
Fed to rein in stimulus measures this year September 19, 2021 The US Federal Reserve is expected to outline its plan for reining in the wave of stimulus measures it launched in response to the Covid crisis this week. Experts are anticipating the Fed will formally recognise its intentions to reduce the pace of its bond buying programme this year after it concludes its rate setting [...]
Alok Sharma says there is ‘no immediate concern’ about winter energy shortages September 19, 2021 Alok Sharma has insisted there are “no immediate concerns” about potential energy shortages this winter amid warnings of a second winter of discontent. The Cop26 president, who sits in cabinet, said today that “we don’t see any risks going into winter”. Business and energy secretary Kwasi Kwarteng is set to hold crunch discussions with the [...]
Red Bull threatens gin firm with legal action over use of word ‘bull’ September 18, 2021 A Norwich-based gin maker has been threatened with legal action by energy drinks giant Red Bull over the use of the word ‘bull’. Red Bull told gin maker Bullards there was a “likelihood of confusion on behalf of the public” as both brand names “include the term bull”. Bullards was asked to delete a series [...]
