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Evening Standard
Metro Bank shares crash as bidder walks away
METRO Bank shares crashed 18% today after private equity firm Carlyle ditched its takeover pursuit of the troubled lender.It had until December 2 to make a firm bid, but has now walked away.Metro said in response that the board “strongly believe in the standalone strategy”.Rising interest rates ought to be good for all banks, but …
Business
Sky News
Costa Coffee to serve a range of M&S food after hit to availability from supply chain crisis
Costa Coffee has revealed a partnership to sell Marks & Spencer (M&S) food in stores and drive-thru sites from next spring.The move will likely be seen as building supply chain resilience following disruption to product availability across the fast food sector in recent months. It would add more than 30 products, including sandwiches and salads, …
Business
Sky News
Metro Bank focuses on standalone future as takeover talks fall through
Metro Bank shares have fallen back sharply after a US private equity firm said it had ended its interest in a takeover.Carlyle’s talks over a possible offer were revealed by the bank earlier this month – sending Metro’s shares up by almost a third. Its market value plunged by 16% on confirmation negotiations had ended, …
Business
Business Live
Goldman Sachs buys The Belfry
Famous golf course and hotel resort The Belfry has been sold. Goldman Sachs Asset Management and Cedar Capital Partners have teamed up to buy the site near Sutton Coldfield from KSL Capital Partners in an undisclosed deal. The Belfry has three 18-hole golf courses and has hosted the Ryder Cup four times – more than …
Business
Evening Standard
Royal Mail posts £6bn of sales thanks to online shopping boom
Royal Mail revenues raced past £6 billion in the last six months as the online shopping boom continued to transform the formerly struggling business.Lockdown was good for the Royal Mail, as posties became one of the heroes of the pandemic.While the letters arm remains in structural decline – it is down 60% since 2004 – …
Business
Sky News
Royal Mail rewards investors with £400m payday after COVID boost to parcels
Royal Mail is to hand shareholders a £400m reward after its parcels business benefited from a surge of online orders during the coronavirus crisis.The company announced a share buyback of £200m and £200m special dividend while revealing a leap in half-year group profits on the back of a 7% rise in revenue to just above …
Business
Euro News
Beaujolais Nouveau: Banana-flavoured bargain or blight on a serious winemaking region?
Business
Euro News
Bitcoin and other cryptos have slumped after record highs. Is market manipulation the reason why?
Business
Evening Standard
Pret USA reveals brand facelift playing up chain’s ‘London touch’ to Americans
Pret has unveiled a rebranding for its US coffee shops that emphasises the chain’s London “touch” in a bid to appeal to American consumers’ love of the capital. Pret’s American cafes will soon be fitted out with the new “Pret: London 1986” logo. Bosses said the new logo aims to “champion” the brand’s London heritage.The …
Business
Sky News
Greggs vegan sausage roll hit by supply chain disruption
Greggs has admitted that its vegan sausage rolls are being hit by supply chain disruption.The bakery chain had already acknowledged that it was not immune to the economy-wide problems getting goods to shelves, but boss Roger Whiteside declared last month that “the sausage roll is safe”. But now, in response to a query from the …
Business
Evening Standard
UK inflation: Cost of living blow as prices surge
Millions of families were today warned of a “painful” cost of living squeeze over the winter after the rate of inflation surged to its highest level for a decade.The Consumer Prices Index — the headline measure of inflation — jumped from 3.1 per cent to 4.2 per cent in October, more than twice the Bank …
Business
Euro News
Staples Center is changing its name to Crypto.com Arena in the biggest naming rights deal in history

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