Smart meter firm Calisen confirms £1.5bn float plans January 16, 2020 Smart meter firm Calisen today confirmed its intention to float on the London Stock Exchange next month with the goal of raising £300m. The float will value the company at around £1.5bn. The energy company, which is backed by private equity firm KKR, said it would use the funds to pay down debt, support future [...]
Wood Group shares climb on expectation of higher annual earnings January 16, 2020 Shares in John Wood Group have risen after the oilfield services provider said it expects higher core earnings for 2019, with a strong performance from its engineering services unit offsetting slowing onshore drilling demand in the US. In an update to the stock exchange on Thursday, the firm said it expects adjusted earnings before interest, [...]
Rocket list 2020: The best London startups to work for this year January 14, 2020 Fintech firms dominate a new list of 32 fastest growing London startups released today, with the companies listing 499 open positions. Job site Otta, which focuses on the most innovative firms in the capital, has today released its Rocket List, highlighting the firms expanding the fastest in 2020. Nine fintech firms made the list, including [...]
Blackrock takes tougher stance on climate change after campaigner pressure January 14, 2020 Blackrock has announced it will put environmental sustainability at the core of its investment strategy, following criticism the asset management titan has failed to use its power to combat climate change. The world’s largest asset manager announced a sweeping overhaul in a bid to position itself as a sustainable investment leader, pledging to take steps [...]
Travelex restores some electronic services following cyber attack January 13, 2020 Foreign exchange company Travelex is beginning to restore some electronic systems almost two weeks after hackers held the company’s systems to ransom, leading to a global blackout of its online services. Staff at the foreign exchange giant had been forced to use pen and paper to serve thousands of customers after a cyber attack forced [...]
KKR makes surprise bid for Pennon’s recycling arm January 12, 2020 Pennon’s bin collection and incineration firm Viridor has been the subject of a shock bid from US private equity fund KKR, in an attempt to knock out the competition before an expected auction process. Viridor is set to be one of 2020’s most keenly fought acquisitions, with a number of companies said to be interested [...]
Brexit: UK to leave EU with a deal on 31 January January 9, 2020 MPs today backed Boris Johnson’s Brexit Withdrawal Agreement Bill (WAB) by majority of 99, clearing the way for the UK to leave the European Union with an exit deal on 31 January. Parliamentarians voted 330 to 231 in favour of the bill, which implements an exit deal agreed with the EU last year. After three [...]
Rathbone Brothers’ inflows decline sharply despite fund growth January 9, 2020 Investment manager Rathbone Brothers has reported a sharp drop in inflows during 2019, despite strong growth in its funds under management. At the end of 2019 Rathbone had £50.4bn funds under management and administration (FUMA), 14 per cent higher than the previous year. Read more: Rathbone Brothers buy Barclays Wealth personal injury business Net inflows [...]
All Bar One owner Mitchells & Butlers posts ‘good, not great’ Christmas sales January 9, 2020 Pub chain Mitchells & Butlers enjoyed a solid rise in like-for-like sales over Christmas, but suffered from strong comparative sales the year before. The core three-week festive period saw the firm’s pub chains – which include All Bar One, Ember Inns and Harvester – enjoy comparable sales growth of 5.6 per cent. Read more: Wetherspoon [...]
Boris Johnson’s election majority set to pass Brexit bill – but second phase challenges loom January 9, 2020 Boris Johnson’s Brexit bill is expected to pass its final stage in the Commons this afternoon, bringing to a close months of wrangling over the UK’s exit from the European Union. The Withdrawal Agreement Bill – which Theresa May spent over a year trying and failing to get backing for during her premiership – is [...]