FTSE 100 pushes above 7,000 for first time since Covid crash as Wall Street hits new records April 16, 2021 London’s FTSE 100 rose above the 7,000-mark today for the first time since Covid pummelled financial markets last year. Across the Atlantic, Wall Street again hit new record highs on the back of a bumper set of earnigns from America’s banking giants. Speedy vaccine rollouts and government policy support has lifted investor confidence about a [...]
Ørsted enters European onshore market with purchase of €570m Brookfield April 16, 2021 Danish energy giant Ørsted has today made its first foray into the European onshore wind market with the acquisition of Brookfield Renewable Ireland (BRI). The Irish firm, which has a portfolio of 389 megawatts of capacity either fully developed or under construction, is valued at €571m (£497.5m). It also has a further 1 gigawatt of [...]
Ocado invests £10m in self-driving vehicle company Oxbotica April 16, 2021 British online grocer Ocado said on Friday it would invest £10m in autonomous vehicle software company Oxbotica in a bid to reduce delivery costs. The partnership will include all aspects of self-driving vehicle development, with the aim of boosting retailers’ customer value proposition through a shift to electrically powered cars. However, vehicles that operated in [...]
The future of commercial property post-Covid March 25, 2021 Will Fulton, Lead Manager, UK Commercial Property REIT The pandemic has brought real challenges for commercial tenants and landlords Strong asset allocation, prudent negotiation with tenants and strategic portfolio shifts have helped mitigate the impact of the crisis From here, the portfolio is geared into a number of long-term structural changes This has been a [...]
Police release images of ‘Kill the Bill’ rioters as hunt for suspects is stepped up March 23, 2021 Police investigating a riot that marred a “Kill the Bill” protest in Bristol have released images of 10 people they wish to trace. Violence erupted in Bristol city centre on Sunday evening and saw a police station attacked, 21 officers injured and vehicles set alight. Avon and Somerset Police released the 10 images of suspects [...]
Dale Vince interview: Forest Green Rovers chairman and green energy tycoon on climbing the football leagues while saving the planet March 19, 2021 With a large green Union Jack behind him and a casually dishevelled appearance, Dale Vince brings to mind the leader of some rebel republic when he appears on the Zoom call. Being cast as a revolutionary is nothing new to Vince. In business, the former New Age Traveller has turned once-leftfield ideas about green energy [...]
FTSE 100 recovers after Bank of England holds interest rates March 18, 2021 London stocks recovered this afternoon after suffering a drop following the Bank of England’s decision to hold interest rates indicated the pace of Britain’s economic recovery from the Covid-19 pandemic. The BoE kept its stimulus programme unchanged this afternoon ahead of an expected recovery in Britain’s economy later this year, helped by the fast rollout [...]
Fever Tree maintains fizz as home sales bubble up March 18, 2021 A very strong performance from its off-trade division prevented mixer maker Fever Tree’s revenues going flat this year, the firm said this morning. With the collapse of its hospitality sales – or “on-trade” – division, which historically accounted for 45 per cent of the firm’s revenues, due to the pandemic, the company may have been [...]
Credit Suisse replaces asset management head after Greensill collapse March 18, 2021 Credit Suisse has replaced the chief executive of its asset management business and announced plans to separate the division that has faced scrutiny over its Greensill-backed funds. The Swiss bank announced the appointment of Ulrich Korner as chief executive of the asset management business who will report directly to the bank’s chief executive Thomas Gottstein. [...]
Ocado CEO Tim Steiner: M&S products are more popular than Waitrose March 18, 2021 Ocado’s M&S products are favoured over the former Waitrose partnership products with customers, as the company enjoys a doubling of new registrations, the company’s chief executive said this morning. “The M&S product is more popular with our customers than the Waitrose products were,” chief executive Tim Steiner said during an investor call earlier this morning. [...]