Heathrow boss slams government’s ‘discriminatory’ airport support scheme January 30, 2021 The government’s financial support scheme for airports has today opened to applications but was swiftly slammed by Heathrow and fellow operators. Under the scheme, airports and baggage handlers can apply for up to £8m in business rates relief. Transport secretary Grant Shapps announced that the support was now available via Twitter. But the boss of [...]
Softbank-backed blank cheque firm eyes $200m stock market float January 29, 2021 A blank cheque firm backed by a top Softbank executive is looking to raise as much as $200m (£146m) in an initial public offering. LDH Growth Corp I, led by Softbank chief operating officer Marcelo Claure and controlled by an affiliate of the Japanese conglomerate, today said it planned to sell 20m shares units of [...]
LSE chief executive says ‘blank cheque’ companies could boost post-Brexit London January 29, 2021 London Stock Exchange Chief Executive David Schwimmer said today: “Britain should replicate New York’s success in listing “blank cheque” companies to boost the City of London’s attractiveness as a global financial centre after Brexit.” “SPACs clearly have taken off in the U.S. markets. There is increasing curiosity and potential interest in seeing more of them [...]
London Stock Exchange completes $27bn Refinitiv takeover January 29, 2021 The London Stock Exchange today said it had completed its $27bn (£19.7bn) takeover of Refintiv, kicking off its new era as a major player in financial data. The blockbuster deal, which was given the green light by EU regulators earlier this month, gives the bourse a significant footing in the information market and creates a [...]
WallStreetBets drama reaches crescendo – Bitcoin fixes this. Elon seems to agree! January 29, 2021 Crypto at a Glance It’s been a wild week in the markets, but just when you think it can’t get any wilder, in swaggers Elon Musk and a $6k pump in little over an hour. The US isn’t even awake yet – are we just getting started today? How did we get here? The big [...]
UK tech sector outpaces entire private sector January 29, 2021 The UK’s tech sector expanded at a stronger rate than the entire private sector last quarter and is set to reach a four-and-a-half year high this year. Tech saw another rise in business activity in the fourth quarter, according to IHS Markit and KPMG research, although the pace of expansion slowed amid a wider economic [...]
Billionaire Coates family of Bet365 stump up half a billion in tax January 29, 2021 Gambling family Denise, John and Peter Coates of Bet365 have paid more than half a billion pounds (£573m) in tax this year, making them the top taxpayers in the UK. Denise Coates founded Bet365 in 2000, and the tax paid by the family and the business is equal to the price of paying for 62,725 [...]
Insurance, disrupted: What does the start of 2021 tell us about the industry? January 29, 2021 We waited patiently for the new year. January was meant to be a fresh dawn, with many businesses embarking on transformation programmes to emerge stronger from the pandemic. But, looking at the economic and political events from this month, we see more disruption ahead. Particularly for insurance companies. Before founding OLIVER, I spent 15-years at Commercial [...]
Theatres warn of ‘devastating’ Brexit impact as pressure grows over touring visas January 28, 2021 UK theatres have called for urgent clarification over post-Brexit touring provisions, warning that a failure to resolve visa rules would have “devastating consequences” for the sector. In a letter to ministers today the all-party parliamentary group (APPG) for theatre warned that a current lack of clarity over touring rules posed a major threat to the [...]
Concrete changes can allow Britain’s digital firms to fly January 28, 2021 Britain’s technology entrepreneurs seem the last people who need any attention from Government right now. Valuations are soaring. IPOs are being lined up. Even as the pandemic constrains our daily lives, businesses that will deliver the jobs, growth and tax revenues of the future are thriving. But in the great global race to create and [...]