Her Majesty’s pleasure: Wind farm windfall sends Crown Estate value soaring June 24, 2021 A raft of new wind farms has sent the value of the Queen’s property holdings up 7.5 per cent over the last year, the Crown Estate announced today. The portfolio, which comprises London’s Regent Street, the seabed and half of the foreshore around England and Wales, is now worth £14.4bn. The marine division saw its [...]
MoD slammed as key contracts face 20 years of delays June 24, 2021 The Armed Forces are facing combined delays of more than 20 years in the introduction of new technologies and critical equipment, a brutal new report has warned. According to the National Audit Office (NAO), contracts are being hampered by a combination of underperforming suppliers and the Ministry of Defence (MoD)’s lack of project management skills. [...]
Democracy is full of powerful symbolism, but is it still functional in modern Britain? June 24, 2021 “Democracy is the worst form of government except for all those other forms that have been tried,” Winston Churchill famously said. While any reasonable democrat is willing to concede democracy is imperfect, few are willing to accept change is necessary. The idea of democracy is often lost in bold, symbolic rhetoric. It is, after all, [...]
Elon Musk’s space broadband service Starlink to go public once revenue is ‘predictable’ June 24, 2021 Elon Musk’s satellite-based broadband service Starlink, part of his space venture SpaceX, will go public once its revenue is ‘reasonably predictable’. Taking to Twitter, Musk – who sits at the helm of several high-tech companies – added that “going public sooner than that would be very painful”. SpaceX is building a new factory in Texas [...]
Fintech firm Wise to directly list on the London Stock Exchange in early July June 24, 2021 Fintech firm Wise has confirmed it will float on the London Stock Exchange with a direct listing, it said in a statement this morning. The payments group, formerly known as Transferwise, had previously made an announcement on 17 June of its expected intention to float. “Since announcing our expected intention to float last week, [...]
Blackstone sweetens buyout offer for property developer St Modwen by £50m June 24, 2021 Private equity firm Blackstone has offered to pay £50m more for property developer St Modwen, bringing its total takeover offer to £1.25bn. The 560 pence per share cash offer for St Modwen is the final offer, the companies said today, adding that Blackstone could make another proposal if another suitor for St Modwen emerged. Last [...]
Booming property market helps housebuilder Crest Nicholson swing to profit June 24, 2021 Soaring house prices and a flurry of activity in the market helped Crest Nicholson move from a loss to a profit in the six months to 30 April. Profit before tax at the housebuilder for the first half of 2021 stood at £36.3m, up from a loss of £51.2m a year earlier. Revenue in the [...]
‘Lack of policies’ jeopardising UK climate targets June 24, 2021 A lack of policies on net zero emissions by 2050 risks jeopardising the UK’s chance of meeting the target, climate advisers have said. In 2019 the UK became the G7 first member to set a net zero target, which will require wholesale changes in the way residents travel, eat and consume electricity. The country is [...]
Junk food ads to be banned before the watershed in obesity crackdown June 24, 2021 Junk food adverts will not be allowed to be shown on TV before 9pm, as part of a campaign to tackle obesity. Foods including sausage rolls, fish fingers and pasties will be caught in the crackdown, the Sun reported. Ministers will unveil the plans today, according to reports, leaving businesses facing a medley of restrictions [...]
Banks need to stand up for human rights abuses in Hong Kong and hit China where it hurts – their wallet June 24, 2021 Since the introduction of the National Security Law last year, Hong Kong has seen a shift in its population. Specifically, that its citizens are leaving. Hong Kongers in their droves are taking stock of this new draconian normal and choosing to say no to further human rights abuses. More than 34,000 have fled to the [...]
