Intel: £4.2bn deal to buy Israeli chipmaker Tower Semiconductor lapses on China stall August 16, 2023 Intel and Israeli chipmaker Tower Semiconductor have “mutually agreed” to call off their $5.4bn (£4.2bn) deal due to regulatory hurdles from China. In a statement on Wednesday, leading semiconductor manufacturer Intel said it will pay a termination fee of $353m to Tower after the merger failed to get approval from regulators by its 15 August deadline. [...]
FTSE 100 live: London flat after inflation fall as Admiral and Aviva lead gains August 16, 2023 The FTSE 100 started Tuesday flat with investors still worried about a further rate hike by the Bank of England despite a drop in inflation. The capital’s premier blue-chip index opened low, fluctuating between 0 and 0.01 per cent in the first hour of trading, sitting at 7,388.08 by 09.45. Headline inflation dropped to 6.8 [...]
Aviva hikes dividend payout after profits boost August 16, 2023 Insurance giant Aviva has hiked its payout to shareholders today after posting a boost in profits in the first half of the year on the back of growth across the group. In its half year results this morning, the FTSE 100 firm said operating profits had grown eight per cent to £715m in the first [...]
The Notebook: Patrick Spencer on the global economy, Simpsons stereotypes and why not all businesspeople are evil August 16, 2023 Today, Patrick Spencer, former government advisor and director of the Jobs Foundation, takes the pen Economic news, jobs, jobs and more jobs. Waking up yesterday, the big news is from the US as former president Donald Trump was charged with intentionally interfering with the US election result in 2020. Grim news indeed but the more [...]
Biden’s $370bn green subsides are only a threat if we continue ignoring them August 16, 2023 When Biden first introduced the Inflation Reduction Act, everyone panicked. Since then, there has been stony silence from Britain.
Liberty Global inks €1.5bn deal with IT giant Infosys to scale up Horizon entertainment platform August 15, 2023 International telecoms firm Liberty Global (LG) has struck a €1.5bn (£1.3bn) deal to outsource its Horizon entertainment platform to Indian IT consultancy Infosys. The two corporate giants are poised to collaborate over a five-year period, with Infosys helping Liberty Global expand its Horizon entertainment platform, a TV and video streaming service used by over 10m. [...]
Stepping Stones to Sustainability – Improve the sustainability of your real estate in 5 steps August 15, 2023 Introduction Sustainability is increasingly high on people’s agenda and has become a buzz word in business circles. Measurable performance and tangible outcomes are becoming the standard across all sectors. But what does this really mean in practice, and how do you make your business more sustainable in a meaningful way? We break sustainability challenges down [...]
Interest rate hikes and unsettled markets rain on private equity’s dealmaking parade August 15, 2023 Private equity dealmaking has cooled in the first six months of the year as rapid interest rate hikes and unsettled markets rained on the parade of a predicted deal frenzy, new figures have revealed. The number of private equity deals in the UK fell to 689 from 909 last year, with just 327 deals worth [...]
How ‘tourist’ venture capital investors scarpered and popped the valuation bubble August 15, 2023 A flood of so-called ‘tourist’ cash flowing into the venture capital industry has dried up over the past 12 months and helped trigger a plunge in the valuation of UK and European startups, new research has shown.
Home REIT facing fresh calls for overhaul over huge exposure to Wolverhampton charity group August 15, 2023 Scandal-stricken Home REIT is facing fresh calls for overhaul today after two tenants run by the same director collapsed into administration this year – with the future of a third still uncertain. Home REIT revealed earlier this month that Redemption CIC, a Wolverhampton-based social housing group that made up around nine per cent of its [...]