Concrete changes can allow Britain’s digital firms to fly January 28, 2021 Britain’s technology entrepreneurs seem the last people who need any attention from Government right now. Valuations are soaring. IPOs are being lined up. Even as the pandemic constrains our daily lives, businesses that will deliver the jobs, growth and tax revenues of the future are thriving. But in the great global race to create and [...]
Prudential share price tumbles nine per cent on Jackson demerger plan January 28, 2021 The share price of insurer Prudential fell eight per cent today following news it would split off its US business through a demerger. Following pressure from activist investor Third Point, Prudential agreed to split off its US business Jackson through a demerger that could raise between $2.5 and $3bn in new equity. In response Prudential’s [...]
Mitie raises full year guidance as Interserve deal beds in January 28, 2021 Outsourcer Mitie today raised its guidance for the full year due to an improved performance in the second half and its merger with Interserve. The FTSE 250 company said that full year revenue would now come in at £2.4-£2.5bn, with profit up to £57m-£61m. Shares in the firm rose 3.1 per cent as markets opened [...]
Electric bikes are bucking the work from home trend – and are here to stay January 28, 2021 The global pandemic has transformed the way people travel for work – if they are going into the office at all – and this transformation is here to stay. In most circumstances, this means fewer miles driven, vacant public transport networks, and unfilled flights. Yet, one means of transportation is bucking this trend – the [...]
UK to start talks with Switzerland on post-Brexit financial services deal January 27, 2021 Chancellor Rishi Sunak will today start formal talks with his Swiss counterpart in a bid to broker a new post-Brexit financial services agreement for the UK. The Treasury said the talks would see the two sides try to deliver “a comprehensive mutual recognition agreement that would reduce costs and barriers for UK firms accessing the Swiss [...]
Exclusive: Sadiq Khan to bang the drum for City of London at World Economic Forum January 27, 2021 Exclusive: Sadiq Khan to bang drum for EU-City deal at World Economic Forum
Cruise operator Saga in talks with lenders as debt mounts January 26, 2021 Over 50s holiday and insurance provider Saga revealed this morning that it is in talks with lenders about its debt levels as restrictions on travel during the pandemic continue to have a negative impact on its business. Saga it has “significant liquidity and headroom to the current covenants in short term bank facilities”, but it [...]
Rishi Sunak’s £2bn Kickstart programme creates 120,000 jobs January 25, 2021 The Treasury’s £2bn Kickstart scheme has so far created 120,000 jobs for young people since being launched last September. Kickstart, which is open for 16 to 24-year-olds, has also been modified to remove the previous threshold that forced companies to create at least 30 openings to be involved in the scheme. The programme sees UK [...]
London Stock Exchange mulls £300m Covid rescue fund January 23, 2021 The London Stock Exchange is plotting a £300m listed investment vehicle aimed at offering much-needed support to companies hit hard by the pandemic. David Schwimmer, LSE chief executive, has led talks with top City figures and Treasury figures about establishing an investment trust that would list on the index. It is understood the vehicle, dubbed [...]
With Brexit done, the UK must pivot to Africa January 22, 2021 Divorce is painful, and Brexit was as acrimonious a separation as they come. Anglo-European relations will recover in time, but right now the UK needs friends outside of Europe. Boris Johnson knows this, so it was no surprise when he declared his ambition for the UK to be Africa’s investment partner of choice. “We in [...]