Morrisons counterbid set to come from another US private equity giant August 1, 2021 American private equity firm Clayton, Dubilier & Rice (CD&R) is reportedly preparing to submit a counterbid for British supermarket chain Morrisons, after a £6.3bn bid from a rival. US buyout giant Fortress had a £6.3bn bid for Morrisons provisionally accepted last month, after weeks of takeover rumours. The Sunday Times reports today that CD&R are [...]
Toyota Yaris Cross Hybrid review: bang on the zeitgeist June 29, 2021 The new Toyota Yaris Cross takes an award-winning small car and makes it larger. Tim Pitt is among the first to drive it.
Private equity interest: Why is Morrisons such an attractive takeover target? June 21, 2021 Morrisons has rejected a £5.5bn takeover approach from a US private equity firm amid speculation that more UK supermarkets could be snapped up. Shares in Morrisons jumped earlier this morning following confirmation of the rejection at the weekend, as the chain said potential bidder Clayton, Dubilier & Rice “significantly undervalued” the grocer with its 230p-per-share [...]
Electric truck maker Lordstown bosses quit, sending shares tumbling June 14, 2021 One-time electric vehicle darling Lordstown Motors swerved further off course today as the Ohio-based firm’s chief executive and finance chief quit abruptly. At the same time, an internal investigation into the carmaker reported that it had found “issues regarding the accuracy of certain statements regarding the company’s pre-orders”. The revelation, together with the departures, sent [...]
UK car sales up eightfold as market recovers from last year’s skid June 4, 2021 UK car sales increased eightfold last month compared to a year ago as customers continued to return to showrooms and garages. There were 156,737 new cars sold in May, up from a mere 20,247 in the same month in the previous year, when showrooms were closed due to lockdown. However, the statistics, which are compiled [...]
Reopening of showrooms boosts new car sales in April May 5, 2021 The reopening of England’s car showrooms boosted sales of new vehicles in April, prompting the car industry to hail the “light at the end of the tunnel” after lockdown. In total, 141,583 new vehicles were registered last month, a thirty-fold jump on the same month a year ago, when the initial coronavirus lockdown all but [...]
UK banks provided over $50bn in financing for coal-exposed firms from 2018 to 2020 May 4, 2021 The UK’s biggest banks provided $56bn worth of financing for firms involved in the coal industry between 2018 and 2020, new research today has found. Of the top five banks exposed to the sector, Barclays provided by far the most financing to firms on the Global Coal Exit list, with $27bn. HSBC and Standard Chartered [...]
Coinbase (est 2012) $87bn market cap is ironically more than Barclays (est 1896) April 15, 2021 It was a seminal day for cryptocurrency yesterday, with Coinbase becoming the largest business of its kind to list on the Nasdaq.
Exclusive: Covid-19 drives Londoners behind the wheel sooner than planned April 14, 2021 London dwellers are now more likely to buy a car sooner than planned than in any other region of the UK as a result of Covid-19. New figures from Close Brothers Motor Finance, shared exclusively with City A.M., show that over a fifth of Londoners – 21 per cent – are now more likely to [...]
Alts hog limelight ahead of Coinbase listing April 7, 2021 Bitcoin has now been trading sideways in that narrow corridor between $56k and $60k for over a week. Can it now use this level as a springboard?