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Thames Water: To attract investors, pollution fines must be limited
Thames Water said that it would need to make regulatory changes, including a limit on pollution fines as well as an increase in allowed returns, to convince shareholders to inject the much-needed equity to the debt-laden company.
To…
Blackstone finances legal action against Bain Capital over a failed deal
Blackstone has hired a high-stakes law firm to determine if it can recover losses exceeding €200mn from a loan made to Bain Capital, a rival buyout shop.
According to sources familiar with the situation, the $1tn US company is paying…
Secret billionaire Harald McPike files suit over the failure of Spac deal
The family office for secretive billionaire Harald McPike accused US gaming investor Jason Ader, of fraudulently inducing them to back his special purpose acquisitions company because he felt under pressure to refund $16mn of his mother's…
Abu Dhabi Group IHC sells two Adani Companies
International Holding Company, a conglomerate based in Abu Dhabi, is selling its stakes in two companies owned by Indian tycoon Gautam Adani. This will be a major blow to this business empire that has been accused of accounting fraud.…
Oxford BioMedica shares soar as vaccine maker raises earnings guidance
Oxford BioMedica has raised its earnings guidance for the next year, as it signs up new clients for their cell and gene therapies business. Shares have risen as much as 20%.
The London-listed firm, which manufactured the…
Mozambique seeks $1.5 billion in damages for ‘tuna bonds’ scandal
Mozambique is set to seek $1.5bn of damages in a London trial next month for the alleged $2bn "tuna bonds" fraud, which has wrecked its finances over the last decade. This comes after the UK’s highest court ruled that a civil suit could be…
Goldman Sachs raises 15bn dollars to purchase stakes in private equity fund
Goldman Sachs raised $15bn in order to purchase investors' stakes and to invest in transactions where buyout groups are selling portfolio companies to other funds. This is the latest indication of Goldman Sachs' continued support of the…
As interest rates rise, companies are less inclined to buy back shares.
As interest rates rise, companies are less inclined to buy their own stock. This is the lowest level of share buybacks since the Covid-19 pandemic.
The S&P 500 benchmark index shows that companies spent $175bn on buying back shares …
UK welcomes 200 companies to Northern Ireland
This week, UK officials will welcome 200 companies to Belfast to promote Northern Ireland as a location for investment. The region offers unique post-Brexit market access to the EU and British markets.
Lord Dominic Johnson, UK's…
Arm closes IPO order books early due to strong demand
Due to the strong demand, the banks that are underwriting Arm’s $50bn IPO will close their orders a day sooner than originally planned.
The IPO of the UK-based designer chip, which has been more than fivefold oversubscribed, is now…
P&O Ferries market share is eroded due to competition from low-cost operators
P&O Ferries lost ground on the UK freight market after it was purchased by its Dubai-based owner. A new analysis highlights the increased pressures that led the company to fire hundreds of sailors in 2013.
After announcing that it…
3M settles $6 billion lawsuits over combat earplugs
3M has reached a settlement of $6bn with over 250,000 veterans who claim that the combat earplugs they supplied to US Army did not protect them against hearing loss.
The company announced on Tuesday it would provide $5bn cash and $1bn…
Daniel Och criticizes the sale of Sculptor hedge funds to Rithm
Daniel Och is the founder and largest shareholder of Sculptor Capital Management. He has spoken out against Rithm Capital's $639mn purchase of the hedge fund. Och believes that the deal undervalues Sculptor Capital Management.
In a…
EY rejects TPG’s plan to split up Big Four firms
EY rejected the proposal of US private equity group TPG that would have broken up the Big Four and taken a stake in their consulting business. This was revealed by a Wednesday statement to its partners.
TPG sent EY a letter in late July…
The UK’s underinvestment trend is urged to be’reversed’ by the departing L&G…
Sir Nigel Wilson, the former chief executive of Legal & General, has called for more UK investment in order to help early-stage companies compete with their western counterparts. He made this call as he announced his final results.…
TPG approaches EY to buy stake in consulting arm
TPG Capital, a private equity firm, has approached EY to buy a stake in the consulting arm of its company. This would be a second attempt to break up the Big Four.
In a letter to TPG's US and global bosses, the company outlined its plan…
CVC Capital Partners, a private equity firm, revives its listing plans
CVC Capital Partners is one of Europe's largest buyout groups. According to sources familiar with the situation, the group has revived its plans to list on the stock exchange for several billion euros. This could happen before the year…
Flutter swings first US profit before New York listing
The gambling group that owns Sky Bet and Paddy Power made its first US profit in the first half, as it amassed millions of customers ahead of an IPO in New York.
Flutter Entertainment posted a better-than-expected US profit of…