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Evri owners prepare parcel delivery group for a £2bn Sale
Private equity owners are preparing Evri for a massive £2 billion sale, just two years after saddling it with debt and grabbing a £762million dividend.
Advent International, an American buyout company, is working with Rothschild advisers…
Unilever increases prices to combat cost of living crunch
As the cost of living continues to rise, shoppers are turning away from Unilever brands of ice-creams, condiments, and bleaches. They prefer supermarkets own-brand products.
Unilever acknowledged that only a third (of the brands) of…
Oxford friends share eight-figure payouts when Americans buy their company
A technology company powered by AI founded by three Oxford University grads will be acquired by a US group, making at least 12 of its employees millionaires.
Entrust, an American payments and data security company, has acquired Onfido of…
Sainsbury’s continues its evolution with the mantra ‘Food First’
Industry experts have described the new Sainsbury’s strategy as "more evolution rather than revolution".
Simon Roberts has reiterated that he wants to "put food at the center" of his business. He will expand on the "food first" plan that…
Adam Neumann wants to save WeWork from bankruptcy
Adam Neumann claims to have Wall Street backing in order to purchase WeWork from bankruptcy. He was fired after accruing billions of dollar losses.
Neumann's lawyers sent a letter on Monday to WeWork saying that he had "partnered" with…
Three new sites help weight-loss injection maker reduce supply problems
The Danish company behind the weight-loss injection Wegovy, has agreed to buy three manufacturing facilities for $11 billion in order to increase production due to a surge of demand.
Novo Nordisk will acquire the facilities in a…
Iran used Lloyds and Santander to evade sanctions
Iran used two of Britain's largest banks to move money covertly around the globe as part of an extensive sanctions-evasion plan backed by Tehran’s intelligence services.
Documents show that Lloyds and Santander UK opened accounts for…
Fears about the US commercial real estate market resurface after bank losses
The mounting losses of banks in Asia, Europe and the US have reignited concerns about the weakness in the US Commercial Property Market, which has been under pressure due to lower occupancy rates and higher interest rate.
The regional US…
Shell announces a $3.5 billion buyback despite declining profits
Shell announced plans to buyback another $3.5 billion in its shares, after its fourth-quarter profit exceeded expectations. This was helped by an "exceptional performance" by its gas trading division.
The company's profits dropped from…
Vodafone rejects merger bid of €10.5 billion by French billionaire
Vodafone rejected an offer from billionaire telecoms tycoon Xavier Niel for a €10.5bn deal (£9bn).
Last month Mr Niel's Iliad Group proposed to combine their Italian business . They argued that the move would build scale on a market…
Amer Sports, the apparel manufacturer of Arc’teryx, considers IPO prices below range
Amer Sports, the owner of Arc'teryx clothing brand, is expected to raise less than it hoped for in its largest US initial public offer since October. This is the latest indication that investors are cautious amid a tentative return in the…
CD&R’s Morrisons sold petrol forecourts for £2.5bn to sister company MFG
Wm Morrison, a private equity-owned UK supermarket chain, has reached a £2.5bn agreement to sell its petrol forecourts to Motor Fuel Group. This will help Morrisons to improve its balance sheet.
Clayton, Dubilier & Rice, a US-based…
Elizabeth Line contract worth £3bn is on the table as Chinese operator’s tenure expires
The next London Mayor, whether it is Sadiq Hall or Tory underdog Susan Hall will have to make a difficult decision about awarding a contract worth £3 billion to a Chinese-backed company to operate the Elizabeth Line.
Boris Johnson, then…
Scotch Whisky producers celebrate wealthy Asian drinkers for defying luxury gloom
Local whisky producers are confident that they can continue to meet the demand for luxury goods despite a general decline in demand.
The US is the biggest market for Scotch Whisky. Annabel Thomas is not discouraged by the softening of…
EasyJet’s losses to shrink despite Middle East loss of £40m
EasyJet expects its losses to be lower than the record-breaking deficit of last year, despite the £40 million hit caused by the suspension of flights to the Middle East.
Budget airline shares rose to a near 18-month high on the back of…
DPD AI chatbot swears at delivery company, criticises it and calls itself “useless”
The delivery firm DPD has disabled part of its artificial intelligence (AI) powered online chatbot after a disgruntled customer was able to make it swear and criticise the company.
Musician Ashley Beauchamp, 30, was trying to track down…
Bond market flooded with record debt of $150bn
The US corporate bond market is "on fire", as companies have sold record amounts of debt, $150bn since the beginning of the month. This has been the busiest start to the year in more than 30 years.
According to London Stock Exchange…
Mike Ashley is considering a bid for Sheffield Meadowhall
Mike Ashley may make a bid to buy the Meadowhall Shopping Centre in Sheffield. This would be his biggest wager on retail real estate so far.
Frasers Group is the FTSE 100 retailer group owned by Ashley. It's "one of a few parties" that…