British supermarket giant Morrisons has accepted a takeover offer from a consortium of investment groups following its rejection of a private equity bid last month, the chain announced on Saturday. Under the £6.3 billion ($8.7 billion) deal, the group of investors comprising Softbank-owned Fortress, Canada Pension Plan Investment Board and Koch Real Estate Investments (KREI) […]
Britain
UK supermarket Morrisons agrees to £6.3 billion takeover
British supermarket giant Morrisons has accepted a takeover offer from a consortium of investment groups following its rejection of a private equity bid last month, the chain announced on Saturday. Under the £6.3 billion ($8.7 billion) deal, the group of investors comprising Softbank-owned Fortress, Canada Pension Plan Investment Board and Koch Real Estate Investments (KREI) […]
Shell, France’s EDF to build US offshore windfarm
French energy giant EDF said Thursday a joint venture with Anglo-Dutch firm Shell will build “one of the most powerful” windfarms in the United States off the coast of New Jersey. The 1.5 gigawatt facility will supply power to 700,000 homes every year, EDF said in a statement. Construction will begin in 2024. The windfarm […]
Nissan announces first UK battery gigafactory, new electric car
Japanese auto giant Nissan on Thursday announced plans to build the UK’s first car-battery “gigafactory”, where it will build a new electric vehicle. Prime Minister Boris Johnson hailed the post-Brexit investment totalling £1.0 billion ($1.4 billion, 1.2 billion euros), which is set to create 6,200 jobs, as “a major vote of confidence in the UK”. […]
UK mandates climate disclosure for companies
The UK government on Thursday will detail plans to safeguard the City of London’s future under a post-Brexit agenda that requires companies to disclose their impact on the climate. Finance minister Rishi Sunak will vow to “make this country the world’s most advanced and exciting financial services hub for decades to come”, according to Treasury […]
UK economy shrinks more than expected in first quarter
Britain’s coronavirus-hit economy shrank by slightly more than expected in the first quarter before a subsequent easing of lockdown restrictions, revised official data showed on Wednesday. Gross domestic product contracted by 1.6 percent in the three months to the end of March, down from the previous figure of 1.5 percent, the Office for National Statistics […]
UK police seize ‘record’ haul of cryptocurrency
London police have seized a trove of cryptocurrency worth £114 million ($159,000) that criminals were planning to launder, the UK’s largest-ever seizure of digital currency. The Metropolitan Police said late Thursday that detectives had seized the digital currency after receiving information about the transfer of criminal assets. The statement did not say what type of […]
Bank of England keeps low rate, sees ‘temporary’ inflation spike
The Bank of England on Thursday froze interest rates at a record-low but forecast a “temporary” inflation spike as the economy reopens, echoing warnings from the European Central Bank and the US Federal Reserve. The world’s major central banks are grappling with fears of an inflationary spike, fuelled by commodity price gains, and worries over […]
UK police officer convicted of killing ex-Villa star Atkinson
A British police officer who tasered ex-Aston Villa footballer Dalian Atkinson and then kicked him twice in the head was Wednesday convicted of manslaughter but cleared of murder. Jurors at Birmingham Crown Court took nearly 19 hours to reach unanimous verdicts on Benjamin Monk, who said he was put in fear of his life by […]
UK supermarket Morrisons shares soar on £5.5bn bid
Shares in British supermarket chain Morrisons surged Monday after it rejected a £5.5-billion ($7.6-billion, 6.4-billion-euro) takeover approach as too low. The company’s share price rocketed almost a third to 231.80 pence in early deals, after it snubbed the unsolicited cash bid from US private equity firm Clayton, Dubilier & Rice (CD&R) over the weekend. Shares […]