UK PMIs: Business continues to expand at rapid pace in June June 23, 2021 UK business activity continued its rapid growth in June as the post-Covid reopening boom continued apace, new figures today suggested. A flash reading of the IHS Markit Composite PMI, which combines services and manufacturing, came in at 61.7, down from 62.9 in May. Any score above 50 indicates growth. Despite the continued expansion, today’s readings [...]
Marlowe boosts annual profit by a third as acquisition spree continues June 23, 2021 Specialist health and safety firm Marlowe saw its annual pre-tax profit jump 31 per cent to £17.1m as a flurry of acquisitions deepened its presence in the market. Marlowe also pushed its revenue up by 15 per cent to £192m, as well as boosting its net cash before acquisition and restructuring costs to £28.3m. The [...]
Draper Esprit pulls out of AIM ahead of float on main market June 23, 2021 UK venture capital firm Draper Esprit has confirmed plans to move from the AIM to the main market of the London Stock Exchange. Draper said that the company had reached a size “to justify its migration from the AIM market” following a year of portfolio strengthening. “The company hereby gives notice of the intended cancellation [...]
‘Science superpower’: UK to pump £64m into post-pandemic clinical research June 23, 2021 The government has pledged a £64m injection into the UK’s clinical research system, off the back of Boris Johnson’s plans to make the country a “science superpower”. The investment will go towards the development and trial of new Covid-19 treatments and inoculations, to ensure a “front-footed approach in tackling the virus”, health secretary Matt Hancock [...]
Festivals face ‘survival threat’ without insurance scheme, MPs warn June 23, 2021 Music festivals face a serious threat to their survival unless the government underwrites an insurance scheme covering the risk of cancellation, MPs have warned. In a report published today the Public Accounts Committee (PAC) warned that festivals were making “difficult decisions” about whether to risk their survival by going ahead this summer. The MPs added [...]
Travel industry protest: Airline and tourism workers’ plea to ‘save summer holidays’ June 23, 2021 Travel industry protest: Airline and tourism workers' plea to 'save summer holidays'
Labour says government should intervene in private equity takeover of Morrisons June 23, 2021 Labour has called on the government to confirm it will intervene in any private equity takeover of Morrisons to secure binding commitments about the buyer’s business plan, on jobs and on pensions. Morrisons revealed this weekend it had rejected a £5.5bn takeover bid from private equity firm Clayton, Dubiliter & Rice (CD&R), saying it believed [...]
UK business confidence at a three-year high despite skills shortages June 23, 2021 UK business confidence at a three-year high despite skills shortages
New £50 note featuring WW2 codebreaker Alan Turing enters circulation June 23, 2021 A new £50 banknote celebrating mathematician Alan Turing, whose codebreaking skills helped Britain win WW2, entered circulation today. Turing is best known for designing machines to decrypt coded messages during WW2, as well as making discoveries in developmental biology. “Placing him on this new banknote is a recognition of his contributions to our society, and [...]
Gupta’s GFG Alliance reaches six-week standstill deal with Credit Suisse over Australian assets June 23, 2021 Sanjeev Gupta’s GFG Alliance this morning announced it had reached a standstill agreement with Credit Suisse over its Australian steel and coal mining businesses. The six-week deal will give the conglomerate the time it needs to fully refinance the operations, GFG said in a statement. Since the collapse of boutique bank Greensill in March Gupta [...]
