Apollo circles Stanlow refinery owner Essar amid cash crunch – report April 15, 2021 Private equity giant Apollo Global Management is in talks with the owners of the struggling Stanlow oil refinery over a £400m refinancing deal, it was revealed today. Sky News reported that Apollo had had been in talks with Essar UK for several weeks over a deal that would involve it taking a significant position in [...]
The best of wine tourism within day-trip distance of London April 15, 2021 The warm sun on my back, I sip a delicious glass of wine looking across a sweeping vista of vines with the rolling green countryside stretched out before me towards – yes, could that possibly be? – the distant sparkle of the sea and a blue-sky horizon. Have I thrown lockdown travel precautions to the [...]
Promising Young Woman is a dark, brilliant Oscar contender April 14, 2021 Tearing its way through awards season is Promising Young Woman, the drama that has had film fans abuzz ever since the trailer first appeared in 2019. Just over a year and a pandemic later, the film has picked up two BAFTAs (Outstanding British Film and Best Original Screenplay), and is vying for five Oscars at [...]
Competition watchdog clears £31bn O2-Virgin Media merger April 14, 2021 The competition watchdog has provisionally cleared the £31bn merger between O2 and Virgin Media following an in-depth investigation. The Competition and Markets Authority (CMA) launched a probe into the tie-up amid concerns it would harm competition in the wholesale market. Virgin Media provides leased lines to mobile operators such as Vodafone and Three, while O2’s [...]
Flybe set for summer return as buyout deal completed April 14, 2021 Flybe’s journey back to the skies moved a step closer today after the sale of the collapsed airline to a firm backed by private equity firm Cyrus Capital was completed. The deal, which was first announced in October last year, will see new owner Thyme Opco change its name to Flybe Limited. A spokesperson for [...]
Labour turns up pressure on Rishi Sunak over his role in Greensill Capital scandal April 13, 2021 Labour is calling for Boris Johnson to conduct a more thorough inquiry into the David Cameron lobbying scandal, with Anneliese Dodds today also calling for Rishi Sunak to answer questions over his contact with Greensill Capital. The shadow chancellor criticised Sunak for not answering questions in parliament today about how Greensill Capital was allowed to [...]
Andy Haldane quits Bank of England to become chief executive of the RSA April 13, 2021 The Bank of England’s chief economist Andy Haldane will leave the bank to become chief executive of the Royal Society of Arts. After three decades at the central bank and seven years as chief economist, Haldane will succeed Matthew Taylor CBE who announced his intention to step down in December. “I have loved my 30 [...]
Boris Johnson wants to ‘understand intention’ behind David Cameron lobbying April 13, 2021 Boris Johnson has today said a review into the David Cameron lobbying scandal will seek to “understand what the intention was” behind efforts to implement supply chain financing into government departments. Johnson yesterday launched an independent review into Cameron’s efforts to lobby ministers on behalf of failed finance supply chain finance firm Greensill Capital. The [...]
Boris Johnson warns more people will die of Covid as England eases lockdown April 13, 2021 Boris Johnson has today warned that more people will die of Covid-19 as England unlocks, while adding that it has been the lockdown and not the UK’s vaccine rollout that has driven down rates of infection. The Prime Minister urged people in England to be cautious and to still follow social distancing rules, after pubs, [...]
Exclusive: London’s fintech bubble is ‘close to popping,’ warns Reed Smith partner April 13, 2021 A coalition of London fintech firms recently called on the Financial Conduct Authority to end the dominance of banks over the use of consumer data this year. They argue it would increase competition in the savings, credit, mortgages and pensions markets. Howard Womersley Smith, an expert fintech and data lawyer at Reed Smith in the [...]