Singaporean fund and KKR join £6bn Unilever spreads auction August 17, 2017 Competition over Unilever’s spreads business is hotting up as Singapore’s wealth fund enters the fray. The Sinagaporean state’s Government Investment Corporation (GIC) has agreed to back KKR, one of the world’s biggest buyout firms, in its bid for the operation according to Sky News. Unilever’s spreads include some of the world’s most well-known brands such [...]
Government insists UK will make “sufficient progress” in Brexit talks by October to push on with next phase August 17, 2017 The government has insisted it will have made “sufficient progress” in Brexit talks with the EU by October to move on to the “next phase” of negotiations. The assertion, from the Department for Exiting the European Union (DexEU), comes after reports suggested talks on the future UK-EU relationship may be delayed. The parties are due [...]
A ‘truly global Britain’ would abolish air passenger duty August 16, 2017 Airlines play a fundamental role in connecting the UK to the world. Businesses require passenger and freight services so they can operate and invest in the UK, as well as export goods to global markets. At the same time, millions of Brits each year depend on airlines to connect them with loved ones and enjoy [...]
Scouting Silicon Valley: Premier League clubs are on the hunt for digital experts to bolster the boardroom August 11, 2017 Every transfer window brings with it an arms race between Premier League clubs for the world’s top talent, yet this summer teams have been scouting the geniuses of Silicon Valley alongside the goalscorers of La Liga, Serie A and the Bundesliga. Top European football clubs are increasingly searching for boardroom additions who are equipped to [...]
Momentum in digital payments M&A continues as FairFX grabs CardOne for £15m and raises an extra £26m August 8, 2017 Activity in the digital payments sector is staying heated, as online travel money provider FairFX has stumped up £15m for current account business CardOne. The acquisition is a new step forward in FairFX’s aim to become a digital banking services company. At the moment the business, which sponsors Sky Sports’ coverage of Formula One, focuses [...]
What Alan Shearer has to teach us about inflation August 4, 2017 So who are the world’s three biggest spenders on defence these days? That’s right – the US, China and … Manchester City. Boom, boom. Yes, we may still be a week away from the start of the 2017/18 English Premier League season but of course it has been generating back-page headlines for weeks now thanks [...]
Netflix and Britain: We’re now a nation of 40m binge watchers, but BBC, ITV and Channel 4 beats US streaming rivals Ofcom Communications Market Report 2017 finds August 3, 2017 Britain is now a nation of binge watchers, as 40m of us watch more than one episode at a time, new research reveals. But traditional broadcasters remain more popular for satisfying that appetite than Netflix from which the watching habit sprung. More than three quarters of UK adults watch a back-to-back episode on catch-up or [...]
Barclays chief executive Jes Staley quizzed by regulators investigating him over attempts to ID whistleblower August 1, 2017 Barclays chief executive Jes Staley has been formally questioned by regulators over his attempts to unmask a whistleblower. The bank announced in April that the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) were probing Staley after he tried to identify the author of a letter raising concerns about a senior employee in 2016. [...]
The Walkie Talkie has been sold for £1.3bn to a herbal medicine maker July 27, 2017 One of London's most iconic buildings has been sold for just shy of £1.3bn – to a Hong Kong-based herbal medicine maker. Land Securities said today its joint venture with Canary Wharf Group had sold the Walkie Talkie, known officially as 20 Fenchurch Street, to LKK Health Products Group for £1.28bn. Canary Wharf put its [...]
Not spreading themselves too thin: Private equity heavyweights Bain Capital and CD&R team up for Unilever’s spreads division, home to Flora July 25, 2017 Unilever’s spreads division looks set to be snapped up, as heavyweight buyout houses begin to solidify their interest in the divested group of brands. Read more: Unilever shake-up unveiled: Spreads brands including Flora to be ditched, €5bn share buyback starts and dividend hiked City A.M. understands that Bain Capital has been sniffing around the £6bn [...]