Petrol station firm EG Group mulls ‘potential $15bn sale’ September 9, 2021 Petrol station forecourt giant EG Group is reportedly mulling options for its future, including a potential sale. Bloomberg reported that a deal to sell the company, which is backed by the billionaire Issa brothers and private equity firm TDR Capital, could fetch as much as $15bn. The firm could also go for an initial public [...]
Easyjet shares dive as carrier rejects takeover bid ‘from Wizz Air’ and flags £1.2bn rights issue September 9, 2021 Easyjet this morning said that it had rejected an unsolicited takeover bid as it announced a new £1.2bn rights issue. Shares in the FTSE 250 firm were down 10.2 per cent by the time markets closed this evening. The budget carrier said that the bid had took the “form of a low premium and highly [...]
No more green lists and amber lists? Traffic light system set to go by October September 9, 2021 The traffic light system for travel during the Covid era – detested by the industry as complex and unecessary – looks set to be replaced, with an announcement due by the end of the month. The UK government is due to assess the necessity of the system, which delegates destinations as green list, amber list [...]
Lookers posts record first half profit after ‘exceptionally strong’ trading September 9, 2021 Used car dealership Lookers said that it would look to reinstate dividend payouts “as soon as possible” after an “exceptionally strong” performance in the first half of the year. The London-listed firm said it had swung back into the black after last year’s £36m first half loss, posting a record £50.3m profit. It added that [...]
Boeing board faces shareholder lawsuit over two fatal 737 MAX crashes September 8, 2021 A Delaware judge has ruled that Boeing’s board of directors must face a lawsuit from shareholders over two fatal 737 MAX crashes that killed 346 people in less than six months. Watch the full report.
Exclusive: Haulage firm insolvencies highest since January 2019 as Brexit and driver shortages bite September 8, 2021 June 2021 saw 31 haulage firm insolvencies, the highest in a single month since January 2019 as Brexit and driver shortages bite, according to data from Tower Bridge-based audit firm Mazars that was shared exclusively with City PM this afternoon. The fall in shipments between the UK and EU and between Great Britain and Northern Ireland since Brexit has [...]
Auto Moves: Ford poaches Apple car project lead Doug Field September 8, 2021 The leading vice president behind Apple’s car project, Doug Field, has reportedly been poached by rival car manufacturer Ford. Field, a veteran in the automotive industry, most recently served as vice president of special projects at Apple and was formerly senior vice president of engineering at Tesla. Set to lead Ford’s software and connectivity strategy, [...]
Exclusive: Share price drops and less access to capital loom if supply chain issues persist, City insiders warn September 8, 2021 Investment managers in the City and across the UK warn that companies without sustainable supply chains will attract less investment and see share prices fall, according to a new report shared exclusively with City PM this morning. Nearly 85 per cent of investment managers believe that businesses who do not fix supply chain sustainability initiatives [...]
BA in ‘advanced’ talks over new Gatwick carrier September 7, 2021 The chief executive of British Airways has said that the airline is in “advanced” talks with its unions over the launch of a new low-cost carrier at Gatwick Airport. Speaking at an event at Heathrow, Sean Doyle said that BA wanted to set up a unit with a “competitive cost platform”. However, he warned that [...]
New London-Edinburgh rail service to offer £15 tickets September 7, 2021 A new train service will offer one-way tickets from London to Edinburgh for less than £15, it was announced today. First Group-owned Lumo will begin running services on the east coast mainline from 25 October. The 100 per cent electric service is a bid to encourage people to take the train rather than fly between [...]
