China M&A frenzy around the world set to continue according to Freshfields October 4, 2016 CHINA'S vast appetite for overseas acquisitions is laid bare in new M&A monitor by law firm Freshfields Bruckhaus Deringer. The law firm found that China leads outbound M&A with 173 signed deals valued at $128.7bn, including a number of massive acquisitions in the first half of 2016 such as ChemChina’s $43bn bid for Swiss agrichemicals [...]
The big chop: European banks slash over 20,000 jobs October 4, 2016 European banks are set to slash more than 20,000 jobs as tougher capital requirements and negative interest rates bite into the sector’s profitability, putting fresh pressure on many lenders to cut costs further. Dutch lender ING Group said yesterday that it would get rid of 7,000 positions over five years as it focuses on internet and mobile banking and [...]
Superwoman Horlick sees referendum fallout from lack of investment and seeks clarity on “Brexit means Brexit” October 3, 2016 CITY veteran Nicola Horlick, once dubbed superwoman for combining a stellar career in fund management with a large family, has warned that Brexit could have an impact on peer-to-peer lenders such as her venture Money&Co. “Inevitably, large businesses will delay investment into the UK. So this will have an impact on smaller businesses and if [...]
Twitter’s sale would trigger bumper payout to its top executives September 25, 2016 A POTENTIAL takeover of Twitter could trigger a mammoth $1.7bn (£1.3bn) payday for the top 12 executives and directors at the struggling social media giant, according to reports. Twitter is reportedly in early stage talks with companies including Google and may receive a formal bid soon. A source told Reuters that Salesforce.com is also in [...]
Evolve or die: The high street is not dead but it must shape up fast to lure shoppers September 20, 2016 Reports on the impending death of the high street may be greatly exaggerated. According to the new Omnico Retail Gap barometer, browsing and paying in-store is still the nation's favourite way to shop, with 43 per cent of consumers choosing this method. This was followed by 17 per cent of people who said they liked [...]
Broadband services yet to reach the last mile, or 10 per cent of UK homes September 18, 2016 Around ten per cent of the UK's housing stock still experiences a woefully inadequate broadband connection according to the CEO of a company that provides satellite broadband, despite government targets to boost connectivity and generous subsidies. Aim-listed Satellite Solutions Worldwide provides superfast broadband to places, often rural, where typically no broadband exists. CEO Andrew Walwyn [...]
Hinkley Point C is not a magic bullet – the UK also needs a dash for gas to plug the looming energy gap September 18, 2016 The go-ahead for Hinkley Point C last week may signal a new era for nuclear power in the UK, but the UK is still facing an energy gap. “Approval of Hinkley C is necessary but not sufficient to avoid a future supply crunch,” said Jeremy Nicholson, director at the Energy Intensive Users Group (EIUG). “We [...]
MPs and analysts issue fresh nuclear warnings over Hinkley Point project September 15, 2016 Fresh warnings have been triggered over the cost, security, and deliverability of Britain’s first new nuclear reactors for decades following yesterday’s green light for the £18bn build at Hinkley Point in Somerset. Hinkley Point C will be built by France’s EDF with £6bn of Chinese investment. It is effectively subsidised by the UK taxpayer under the [...]
New service Stuart brings on demand delivery to customers of UK retailers September 15, 2016 A NEW on-demand service that aims to deliver products to customers in less than an hour by using retail outlets as mini-depots is launching in the UK today. Called Stuart, the French-backed business will focus initially on London after raising €22m in pre-launch funding from French postal service GeoPost, among others. It has developed a [...]
Prime Minister Theresa May set to power up Hinkley Point September 14, 2016 The government is expected to press the button on two new nuclear reactors in Somerset as early as this week. Yesterday, reports suggested that the government has told France it has approved an £18bn plan by French company EDF to build two nuclear reactors at Hinkley Point in Somerset. The likely green light for the reactors is [...]
