If we want cutting-edge R&D, we must rethink our attitude to failure March 11, 2020 A likely centre-piece of today’s Budget will be a new agency to fund high-risk, high-reward scientific research. Brainchild of the Prime Minister’s chief special adviser Dominic Cummings, the Advanced Research Projects Agency (Arpa) is to be modelled after similar bodies in the US — most notably Darpa which has focused on defence related research. Darpa [...]
McLaren Group set to tap City veteran Paul Walsh as chairman March 10, 2020 The British conglomerate behind the McLaren Formula One (F1) team is said to have lined up City stalwart Paul Walsh as its new chairman. Walsh, who served as chief executive of Guinness owner Diageo for 12 years, is in advanced talks with McLaren Group over the role, Sky News reported. The appointment, which could be [...]
Balfour Beatty set to delay £200m share buyback due to coronavirus March 10, 2020 Construction giant Balfour Beatty has delayed its planned £200m-plus share buyback due to coronavirus-related stock market turmoil. The group were reportedly going to announce the buyback tomorrow alongside the release of its annual results, according to Sky News. However, a source has told Sky that Balfour – who are one of the main contractors for [...]
STV shares rise as broadcaster posts huge rise in profit March 10, 2020 Shares in STV rose roughly seven per cent today after the Scottish broadcaster posted a huge rise in profit for the full year. STV, which holds the channel 3 licence in Scotland, reported pre-tax profit of £19m last year, up from just £1.9m in 2018. However, revenue slipped two per cent over the period to [...]
Treasury to push back target date to sell off RBS stake March 10, 2020 The Treasury is set to push back its target date for selling its stake in the Royal Bank of Scotland (RBS) in the wake of stock market uncertainty. The government is due to announce tomorrow that it will not divest its 62 per cent stake in RBS until 2025. An exit strategy the Treasury published [...]
NBCUniversal quietly offloads $500m Snapchat stake March 9, 2020 NBCUniversal has quietly offloaded its $500m (£381m) stake in Snapchat as the US media giant ramps up preparations for its new streaming service. Parent company Comcast acquired the shareholding in March 2017 when Snap completed its initial public offering. The investment was passed to NBCUniversal, which then quietly sold off the stake last year. NBCUniversal [...]
Coronavirus: Fifth death in UK as confirmed cases rise to 319 March 9, 2020 A fifth person has died from coronavirus in the UK as the number of confirmed cases in the UK rose to 319. The patient who was in their seventies was being treated at Epsom and St Helier University Hospitals NHS Trust. Chief executive Daniel Elkeles said: “We can confirm that sadly, a patient in their [...]
Horse Racing Betting Tips: You’re not being a chicken backing Shish in the opener March 9, 2020 RELIEF is what most of us will be feeling when the famous roar greets the start of the Sky Bet Supreme Novices’ Hurdle at 1.30pm this afternoon. Obviously the devastating effects of the coronavirus around the world are far more important than sport, but I’m sure every racing fan is absolutely delighted that the Cheltenham [...]
Coronavirus: FTSE 100 loses £144bn after worst day since 2008 March 9, 2020 The FTSE 100 has had £144bn wiped off its value today as it closed below 6,000 points and suffered its biggest intraday fall since 2008. The coronavirus outbreak and plunging oil prices dragged the index down as much as 8.7 per cent to just 5,899 points as it opened following a weekend of coronavirus turmoil. [...]
Private equity firms preparing bids for Capita sell-off March 9, 2020 The private equity backer of auction house Bonhams is among a group of funds examining bids for a basket of outsourcer Capita’s non-core businesses. Sky News reported that Epiris was one of several private equity firms getting ready to bid for nine of Capita’s business units. The subsidiaries up for sale include Capita’s travel and [...]