Alibaba to launch £186m venture fund for startups in Southern China July 13, 2021 Chinese e-commerce giant Alibaba announced said today it will launch a HK$2bn (£186m) venture fund to support startups in the Greater Bay Area of southern China. Alibaba Hong Kong Entrepreneurs Fund (AEF) will be an anchor investor for the new fund, which will target startups in the region focusing on sustainability, deep tech, health tech, [...]
Rampant dealmaking pushes Goldman Sachs’ earnings ahead of estimates July 13, 2021 US investment banking giant Goldman Sachs posted a strong set of results on Tuesday which surged ahead of analysts’ forecasts for second-quarter earnings. The rise in profits at the Wall Street giant was driven by the firm capitalising on a record-breaking dealmaking period as companies took on cheap debt and deployed dry powder to snap [...]
‘Wasteminster’: Greenpeace offloads mass of plastic outside Downing Street July 13, 2021 Activists from environmental charity Greenpeace have offloaded 625kg of plastic outside Downing Street today, while one activist donned a caricature mask of prime minister Boris Johnson. The amount of plastic is the same volume of plastic waste the UK exports every 30 seconds, according to the charity. “We hope this pile of plastic helps [...]
JPMorgan profits surge 155 per cent July 13, 2021 Profits at Wall Street giant JPMorgan Chase & Co surged 155 per cent, driven by the release of loan loss reserves and a fruitful deal making period, the firm announced on Tuesday. The American bank released around $3bn in loan loss reserves, which were initially built up in anticipation of a rush of Covid-induced defaults, [...]
Daily Mail: Lord Rothermere’s take-private bid is a bold step forward into the past July 13, 2021 It’s rare that a routine stock market announcement ruffles feathers, but when Daily Mail and General Trust, the parent company behind the Mail newspaper titles, yesterday revealed that Lord Rothermere was weighing up a bid to take the media group private, it succeeded in doing just that. It’s a complicated deal that relies on the [...]
City of London Corporation chief says 19 July will ‘restore vibrancy’ in capital July 13, 2021 The City of London’s local authority welcomed the government’s announcement that “Freedom Day” will go ahead next week, helping the capital to bounce back from the pandemic. Catherine McGuinness, the City of London Corporation’s policy chair, said: “This is a light at the end of the tunnel for the many City businesses desperate to return [...]
If not now, when? Boris Johnson’s grand reopening must be buttressed with a shorter waiting gap for second doses July 13, 2021 “It is only thanks to the vaccine program, we are able to take these cautious steps, but to take these steps, we must be cautious and we must be vaccinated, so please, get that jab,” Boris Johnson cried from the podium of Downing Street yesterday. It was not, as the Prime Minister had once promised, [...]
The only way is gin: The Essex firms making world-beating booze July 13, 2021 Essex is establishing a name for itself. Not for Kevin and Sharons but wines and gin. Its legion of winegrowers and distillers have now been joined by Nikki Mendes from Leigh-on-Sea who has founded The Only Way Is Gin. “I set out to create a gin that shouts out proudly about where it’s from: Chelmsford!” [...]
End of an era: Liquidators appointed to wind up Philip Green’s Arcadia empire July 13, 2021 The administrators of Philip Green’s collapsed Arcadia have appointed liquidators to wind up the companies, marking the end of an era for the tycoon’s once-booming retail empire. Arcadia operated a number of high street brands across the UK and globally, including Topshop, Burton and Dorothy Perkins, and employed over 13,000 people at its peak. The [...]
London homes: Pandemic panic-buying property leads to homeowner regrets July 13, 2021 London property: Pandemic panic-buying property leads to homeowner regrets
