Week in Sportbiz: Yashenkov makes fan pledge ahead of election; global golf tour moves step closer; and Cazoo trumpets Hundred deal December 3, 2020 It’s a big weekend for rugby in Europe, and not just because of the final round of Autumn Nations Cup fixtures. On Friday, Russian challenger Kirill Yashenkov is hoping to topple incumbent Octavian Morariu and be named president of Rugby Europe. Yashenkov has vowed to double the organisation’s budget and create more opportunities for elite [...]
Private equity gets creative as it sits on record dry powder pile December 2, 2020 Private equity firms are having to get creative and look to new asset classes as they sit on record levels of dry powder. In the face of unprecedented market volatility GPs initially turned their attention to portfolio companies in the outbreak of the pandemic. But now fund managers are sitting on approximately $1.7 trillion of [...]
Square Mile comes back to life as second lockdown ends December 2, 2020 As London emerges from the second lockdown there are tentative signs that life is returning to the City. London today entered Tier 2, representing a slight easing of lockdown restrictions, just as news of the Pfizer/Biontech vaccine approval landed in the Square Mile. City leaders breathe a sigh of relief Gyms, barbers and beauty salons [...]
UK ‘through Covid by Spring’ but economic benefits are ‘months away’ December 2, 2020 The UK will be through the coronavirus pandemic by Spring, Matt Hancock said this morning, following news the Pfizer/BioNTech has been approved for distribution in the UK. Health minister Matt Hancock has said the UK will be ‘through this by Spring’, but despite the optimism, analysts have predicted there will not be an immediate boost [...]
Prime Minister’s brother tapped to launch new City advisory firm December 1, 2020 Prime Minister Boris Johnson’s half-brother has reportedly been tapped to help launch the London branch of a global financial advisory firm. Max Johnson has been made a partner at ABG International, where he will advise corporate clients, Sky News reported. The venture is being launched as a new London offshoot of ABG Advisory, a global [...]
Crypto AM shines its Spotlight on The Universal Protocol Alliance December 1, 2020 Climate change is undoubtedly becoming one of the most dominant issues that we as humans are unanimously facing across the globe (perhaps only second to the pandemic) The world emits about 43 billion tonnes of CO2 a year and pretty much everything we buy as consumers has a carbon footprint. Carbon Credits were introduced in [...]
From Crypto to Tokens. The Great Migration December 1, 2020 My journey to crypto was not direct. I’d spent 20 years working for traditional banking houses, trading foreign exchange for Morgan Stanley, Merrill Lynch and others. The high points in my career came during the most chaotic times, managing trading books through devaluations in Asia, Latin America and Iceland. I spent my first career studying [...]
Unicredit shares drop after chief executive steps down December 1, 2020 Shares in Unicredit fell nearly eight per cent on the open following the announcement that its chief executive would step down after a disagreement over strategy. On Monday the Italian bank announced its chief executive Jean Pierre Mustier would step down at the end of his mandate in April. In a statement Mustier said it [...]
Pets at Home sells five specialist vet practices for £100m December 1, 2020 Pets at Home has agreed to sell five of its specialists referral practices for up to £100m. The FTSE 250 firm today announced it would sell the practices to Solihull-based Linnaeus Group, which operates over 150 veterinary clinics across the UK. Pets at Home said the disposal comprises £80m in cash on completion and a [...]
The best medicine for the Covid economy? Tax reform December 1, 2020 In last week’s Spending Review, the scale of the economic challenge facing Britain was made unequivocally clear: the worst drop in GDP for centuries, unprecedented peacetime borrowing, and lasting scarring effects on productivity and the labour market. The chancellor is keen to stress that these problems will require a concerted response in the years ahead. [...]