Morrisons revenue tops £9bn, painting picture of health for bidders September 9, 2021 Morrisons has topped a revenue of £9bn in the past six months, as the bidding battle over the supermarket giant escalates. The retailer enjoyed a revenue lift of 3.7 per cent, including its fuel earnings, in its interim results for the six months to 1 August, painting a picture of health for potential buyers. The [...]
UK buckled under Australian pressure and removed climate goals in trade deal September 8, 2021 The UK bowed to pressure from the Australian government and agreed to take out climate commitments in a free trade deal, it has been revealed. The UK-Australia trade deal will not contain binding commitments on reaching climate goals set at the landmark 2015 climate summit in Paris, after Canberra pushed for it to be dropped [...]
Morrisons goes to auction: Fortress and CD&R escalate bidding battle September 8, 2021 The bidding battle over supermarket giant Morrisons has escalated, and appears to be heading for a conclusion after the supermarket confirmed it was headed for auction. Private equity bidders Fortress and Clayton, Dubilier & Rice have spent the past two months outbidding each other in an attempt to acquire what many analysts believe is an [...]
UK M&A deals dip 31 per cent over last quarter September 7, 2021 The number of mergers and acquisitions involving UK companies dipped over the last quarter, according to official figures released today. Data from the Office for National Statistics shows the volume of M&A deals involving UK firms fell 31 per cent over the last quarter, dipping to 381 in the second quarter from 556 in the [...]
US stocks scale to new heights … again September 2, 2021 Wall Street’s main benchmarks scaled to new record highs once again today, as investors brace for an expected bumper jobs report tomorrow. The S&P 500 and the tech-heavy Nasdaq both hit new peaks today, but pulled back slightly heading into the early afternoon session. The former was up 0.38 per cent to 4,541.45 points and [...]
Acquisitions of UK and Irish SMEs climb nearly 60 per cent September 2, 2021 Interest in acquiring UK and Irish SMEs peaked in the first half of this year as buyout firms and large companies seek to capitalise on undervalued high-growth businesses, according to research released today. Data from Dealsuite shows the number of small and medium businesses with revenue between £1m and £200m sold in the UK and [...]
Morrisons added to FTSE 100, Just Eat booted from blue-chip index September 2, 2021 British supermarket chain Morrisons is joining London’s premier FTSE 100 index, while takeaway delivery service company Just Eat Takeaway.com has been booted from the benchmark of blue-chip stocks. Engineer Weir Group will also leave the FTSE 100, while defence technology company Meggitt will be added. Meanwhile, on the index of mid-cap companies, the FTSE 250, [...]
Even entertaining a nappy tax exposes No10’s muddled plans for plastic waste and climate change September 1, 2021 When I saw the front page of the Daily Mail over breakfast this morning, I nearly choked on my Shreddies. It’s possible George Eustice did, too, given his department rapidly denied today’s headlines that government is contemplating a levy on disposable nappies. Perhaps someone in Whitehall got the wrong end of the stick. Considering Ministers’ contempt for [...]
Even entertaining a nappy tax exposes No10’s muddled plans for plastic waste and climate change – CityAM : CityAM September 1, 2021 When I saw the front page of the Daily Mail over breakfast this morning, I nearly choked on my Shreddies. It’s possible George Eustice did, too, given his department rapidly denied today’s headlines that government is contemplating a levy on disposable nappies. Perhaps someone in Whitehall got the wrong end of the stick. Considering Ministers’ contempt for [...]
McColl’s share price falls after cash call comes up short August 31, 2021 McColl’s shares were down more than four per cent in early trading Tuesday after an attempted cash call came up slightly short. The convenience store had been looking to raise around £35m-worth of finance to expand its partnership with takeover-target Morrisons. The firm had hoped an open offer would raise £5m of the figure, but [...]