No comment from Tesco on takeover talk as it promises customers a good Christmas October 6, 2021 Tesco has denied its share buyback programme has anything to do with private equity takeover rumours. Following US private equity firm Clayton, Dubilier & Rice winning Morrisons at auction with a bid of £7bn, Tesco and Sainsbury’s have been singled out as next in line for a takeover. Tesco said it would purchase £500m of [...]
Month-ahead natural gas prices climb 30 per cent in just a day October 6, 2021 Prices for future natural gas stock soared 30 per cent this morning, driven by demand for the resource rising as energy providers brace for cooler weather. November month-ahead natural gas contracts climbed to £3.82 per therm, up from the £3.03 per therm opening price. At one point today, natural gas futures contracts for November topped [...]
Ireland drops opposition to global corporation tax deal October 6, 2021 Ireland has dropped its opposition to raise global corporation tax rates to 15 per cent, bringing a deal to level the business tax regime a step closer. Discussions between Ireland’s finance minister, Paschal Donohoe, and other kingpins driving the agreement among countries that represent around 90 per cent of the global economy has yielded positive [...]
Shoppers are already panic buying frozen turkeys as Christmas shortage looms October 6, 2021 As a shortage of turkeys is looming this Christmas, shoppers are already buying frozen turkeys in a bid to avoid any potential disruption to their Christmas dinner, the boss of Tesco has said. The supermarket giant said it was confident of good product availability for Christmas but there could still be “bumps in the road” [...]
Billiton knocks FTSE 100 October 6, 2021 Mining company BHP Billiton, along with other oil stocks, helped drag the FTSE 100 down 1.4 per cent after it revealed that damage by Hurricane Rita would lead to lower oil production than previously forecast. The company said it would produce 10m fewer barrels of oil this year than it had previously stated. The company [...]
European markets tank on toxic mix of threats October 6, 2021 European markets tanked today, driven by a toxic mix of mounting “stagflation” fears, looming rate hikes and soaring energy costs. London was among the worst performers as investors mull whether the British economy could be barrelling toward a biting bout of “stagflation” that would squeeze businesses. The capital’s premier index plummeted 1.28 per cent to [...]
Supply chain epidemic leaves UK construction reeling October 6, 2021 An epidemic of raw material and worker shortages has left the UK construction industry in an almost anaemic state. A closely watched survey measuring the health of the British construction industry notched 52.6 in September, the lowest reading for eight months and down from 55.2 in August. Construction firms have struggled to progress and complete [...]
London IPO activity smashes new records as it already outpaced whole of 2020 October 6, 2021 London has retained its dominance as the most attractive European IPO venue by funds raised in the third quarter, continuing the deal momentum witnessed in the previous two quarters and reaching new record highs. Both the main market and Alternative Investment Market (AIM) have built on the resurgence of activity seen in the last two [...]
Allied Minds turns a loss in H1 amid share buy back programme October 6, 2021 Allied Minds, an IP commercialisation company with a focus on early stage tech companies, has reported lacklustre interim results. Net cash and investments dipped from $24.5m at the close of 2020 to $18.1m in the first six months of the year. While revenue almost doubled, rising from $110k in the first six months of 2020 [...]
BCC: Supply chain breakdowns threaten to throw UK recovery off course October 6, 2021 Endemic supply chain breakdowns that are causing the UK economy to snarl up threaten to derail Britain’s recovery from the Covid-19 crisis. The chief of the British Chambers of Commerce (BCC) has warned “The supply chain crisis, alongside wider labour shortages and spiralling price rises, is clearly starting to drag on our economic recovery from Covid-19.” The warning comes as the BCC found [...]