Government-backed coronavirus lending tops £50bn August 4, 2020 Banks have now lent £50.7bn to companies through the various government-backed coronavirus loan schemes, official figures showed today. By far the biggest programme is the bounce back loans scheme (BBLS), which had seen banks lend out £34.34 to small businesses as of yesterday, the Treasury said. It comes with a 100 per cent government guarantee [...]
Trump demands US Treasury cut of Tiktok sale August 4, 2020 US President Donald Trump has said the US Treasury should be brought in on Microsoft’s potential acquisition of Tiktok’s American arm, arguing the deal wouldn’t happen without its approval. Trump said he told Microsoft the government should receive a “substantial portion” of the deal if an American firm buys the operation. Tiktok’s Chinese owner Bytedance [...]
Pizza Express plans to close 67 restaurants, putting 1,100 jobs at risk August 4, 2020 Pizza Express is planning to close 67 UK restaurants due to the coronavirus pandemic, putting 1,100 jobs at risk, as the casual dining chain put itself up for sale. The company announced this morning that it will launch a company voluntary arrangement (CVA) in the “near future”. The CVA proposals would see the group close [...]
Bayer shares slip as drugs giant falls to €9.5bn loss August 4, 2020 German pharmaceutical giant Bayer saw its shares slip 3.6 per cent this morning after the firm reported a €9.5bn (£8.6bn) loss in the second quarter. The loss stemmed from a $10.9bn settlement of US lawsuits which claimed that its weedkiller product Roundup caused cancer. As of July, lawsuits from approximately 56,200 plaintiffs claiming to have [...]
My joyous but painful adventures in Blockchain August 4, 2020 I love Madrid. I love the food, the weather and the people. I’ll go there (at least, in better times) at even the slightest excuse. And beyond the social culture, Madrid has a thriving business culture – especially when it comes to Fintech. In June 2017, it was the home to MoneyConf. That’s where my [...]
Crypto regulation in the UK: Assessing opportunity through the looking glass August 4, 2020 We are now over halfway through 2020, which by many accounts, has been, shall we say, unusual. Coronovirus’s all encompassing impacts aside, we are in the midst of even greater engagement from policy makers looking to bring our nascent industry into the broader regulatory perimeter. We’ve long anticipated that greater regulatory clarity could finally trigger [...]
No longer superheroes? Twilight of the bonds August 4, 2020 Superman not only has the best superpowers – he is also handsome and humble. No-one can outmatch him, except perhaps someone who brings the proverbial gun to a knife fight. In this case, that gun is Kryptonite, Superman’s only known weakness. The substance renders his powers useless. In the investment world, fixed-income instruments have their [...]
Centamin first-half profit jumps on strong gold prices August 4, 2020 Gold miner Centamin posted a jump in first-half profit before tax today, powered by rising gold prices as investors sought safe havens during the pandemic. It also benefited from increased output from its Sukari mine in Egypt, the only active site in its portfolio. The company, which declared a second interim dividend of six cents per [...]
AA attracts rival bids from private equity firms August 4, 2020 Driving association the AA confirmed this morning that it is in talks with three private equity firms over a potential sale. Centerbridge Partners Europe an Towerbrook Capital Partners, acting jointly, have approached the firm. Platinum Equity Advisors and Warburg Pincus have separately approached AA with possible cash offers for the company. “The potential offerors have [...]
