Gambling, alcohol and tobacco brands target children in age-restricted ads August 26, 2020 Children have been targeted by almost 160 gambling, alcohol and tobacco adverts which break advertising rules, according to the regulator. The Advertising Standards Authority (ASA) said it had found 159 adverts on 34 websites and five Youtube accounts aimed at children. Companies placing age-restricted ads online are required, under the Advertising Code, to target their [...]
CVC and Advent team up in €1.3bn bid for Italy’s Serie A August 26, 2020 Private equity firms CVC Capital Partners and Advent International have reportedly joined forces in a €1.3bn (£1.17bn) offer for a minority stake in Italy’s Serie A football league. Last month Lega Serie A, the governing body of the league, placed a cap of 15 per cent on any potential private equity investment. CVC and Advent [...]
Matt Hancock officially scraps Public Health England August 18, 2020 Health secretary Matt Hancock has officially axed Public Health England (PHE) and announced the formation of the National Institute for Health Protection. The new institute will be formed through a merger for NHS Test and Trace, the Joint Biosecurity Centre and parts of PHE, and will have a mission of “protecting people form external threats [...]
UK needs 10m tests a week, says Premier League’s coronavirus adviser August 17, 2020 The company behind the Premier League’s coronavirus testing efforts has backed calls for the government to introduce a UK-wide testing scheme by the end of the year. Avi Lasarow, chief executive of testing firm Prenetics, has called on the government to swap its half-price restaurant scheme for a universal testing service across the UK. He [...]
Domino’s reinstates dividend as pizza chain hails ‘resilient’ lockdown sales August 11, 2020 Pizza chain Domino’s reinstated its dividend payment as it hailed “resilient” trading during the UK coronavirus lockdown. The figures UK like-for-like sales were up 4.8 per cent and Ireland like-for-like sales increased 3.6 per cent during the first half of the year. However underlying earnings before interest and taxes fell to £51.4m pounds for the [...]
HMRC triples number of tax probes into footballers August 10, 2020 The UK’s tax authority has tripled the number of investigations into professional footballers in the year to March as a part of a wider tax avoidance crackdown. HM Revenue and Customs (HMRC) opened 246 probes into professional footballers in the year to March 2020, which was an increase from 87 in the previous year. The [...]
Saudi Arabian takeover of Newcastle United off as bid withdrawn July 30, 2020 The Saudi Arabia-backed bid to takeover Newcastle United football club has been withdrawn this afternoon. A consortium made up of the Gulf state’s Public Investment Fund, PCP Capital Partners and the Reuben brothers had reportedly made a £300m bid to businessman Mike Ashley for the Premier League team. In a statement, the group said: “With [...]
CVC looks to add coronavirus clauses to Six Nations investment July 15, 2020 CVC Capital Partners is reportedly looking to add coronavirus clauses to its planned £300m investment in the Six Nations rugby union tournament, which will allow the buyout firm to withhold funding if the pandemic disrupts the sport further. The private equity group is in the final stages of agreeing on a deal to take a [...]
Consumer spending surges as lockdown restrictions end July 14, 2020 Brits rushed back to the shops in June after lockdown restrictions ended, prompting the biggest jump in sales since May 2018 as consumers indulged in some much-needed retail therapy. According to new data from the British Retail Consortium, total sales rose 3.4 per cent in June in the first month of growth since lockdown measures [...]
Manchester City’s two-year ban from Champions League lifted July 13, 2020 Manchester City’s two-year ban from European football has been overturned by the Court of Arbitration of Sport (CAS), it said this morning. The decision means it will compete in next season’s Champions League, providing a major financial boon for the team’s by Abu Dhabi-controlled owner City Football Group. CAS ruled that Manchester City did not [...]