BBL champions London Lions bought out of administration by Lithuanian group and Zalgiris Kaunas August 14, 2024 British basketball champions London Lions have been bought out of administration by Lithuanian group Tesonet and Zalgiris Kaunas. London Lions were taken to the brink of extinction by the collapse of former owner 777 Partners’ sporting empire. Tesonet, a tech hub and investor in Lithuanian side Zalgiris Kaunas, was the early frontrunner and the only [...]
Paddy Power and Betfair owner Flutter in talks for £2bn Snaitech deal August 14, 2024 Paddy Power and Betfair owner Flutter Entertainment is in talks to buy Italian gambling company Snaitech, the consumer division of Playtech, in a deal that could be valued at around £2bn. “Playtech confirms it is in discussions with Flutter and has granted Flutter a period of exclusivity to complete due diligence and finalise the necessary [...]
Leeds-upon-Thames? How the West Yorkshire heartland is luring British institutions away from London August 14, 2024 Over the past few years Leeds has emerged as a go-to destination for British institutions looking to venture beyond the M25. Since 2018 Channel 4, the Bank of England, the Financial Conduct Authority and the UK Infrastructure Bank have all opened hubs or expanded their presence in the city, adding hundreds of new jobs and [...]
Carpetright owed almost £350m when it collapsed into administration August 14, 2024 Carpetright owed almost £350m when it collapsed into administration with the loss of more than 1,500 jobs before being rescued, it has been revealed. The Essex-headquartered carpet and tiling retailer was acquired by rival Tapi in July in a move that saved the jobs of more than 300 people and 54 stores. At the time [...]
Secure Trust Bank upgrades cost-cutting target as FCA review weighs on earnings August 14, 2024 Secure Trust Bank has ramped up cost-cutting efforts, while a review by the City regulator affecting its vehicle finance arm weighed on the firm's earnings in the first half of 2024.
Balfour Beatty bullish on UK infrastructure outlook as profit hits £98m August 14, 2024 Investors were concerened after Chancellor Rachel Reeves unveiled plans to axe a string of UK infrastructure projects last month.
Flutter Entertainment: Paddy Power and Betfair owner ups guidance as US demand soars August 14, 2024 Flutter Entertainment, the gaming giant behind Paddy Power and Betfair, has upped its guidance amid booming demand from its US audience. The Dublin-headquartered firm, which is listed in New York but has a secondary listing in London, has projected a 20 per cent year-on-year increase in group revenue and a 34 per cent rise in [...]
Amazon Prime top of the table to bag Liverpool documentary rights August 14, 2024 Amazon Prime are in pole position to pick up the UK rights for the Liverpool documentary based on Jurgen Klopp’s last six months at Anfield. City A.M. has learned that Amazon have entered advanced negotiations with the club and production company Lorton Entertainment to show the documentary, which was filmed over the second half of [...]
Degree of uncertainty: Are young entrepreneurs skipping higher education? August 14, 2024 Young entrepreneurs are skipping the traditional path of higher education in favour of starting their own businesses, new research has shown.
The Notebook: Some words of advice ahead of results day August 14, 2024 Where the City’s movers and shakers have their say. Today, it’s Professor Peter Bonfield, vice-chancellor and president of the University of Westminster, with the pen, with some words of wisdom ahead of results day Good luck to students! Tomorrow is such an important day for many young people, along with their families, carers, friends and [...]