Britain’s annual inflation rate has jumped close to a three-year peak as consumer prices accelerate on easing coronavirus restrictions, official data showed Wednesday, fanning global inflationary fears. The Consumer Prices Index hit 2.5 percent in June from 2.1 percent in May, the Office for National Statistics revealed in a statement one day after news of […]
Britain
UK fintech firm Wise worth £8bn on London market debut
British financial technology firm Wise entered the London stock market Wednesday, valued at £8.0 billion ($11.1 billion, 9.3 billion euros) in a key post-Brexit test for the sector. The global money transfer specialist launched at £8.0 per share under a so-called direct listing, which does not seek to raise capital but enables public trading. The […]
UK supermarket Morrisons set for mega takeover
The UK supermarket sector, which has benefitted hugely from a shift to online shopping during the pandemic, is set for a further shakeup with Morrisons heading for a multi-billion-pound takeover. Britain’s fourth biggest supermarket on Saturday said it had accepted a £6.3-billion ($8.7-billion, 7.3-billion-euro) takeover offer from a consortium of investment groups. And on Monday, […]
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) […]
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 […]