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THG suffers fresh blow as largest institutional investor cuts stake by half
Troubled online retailer and logistics specialist THG, formerly known at The Hut Group, has suffered a fresh blow after its biggest institutional investor revealed it was selling almost half its stake – and at a discount.US asset manager BlackRock had a 10.13% stake of nearly 124 million shares as of mid-October but said on Tuesday …
Business
Evening Standard
Drinks giant Diageo to create its first Chinese-origin single malt at new $75m distillery
Diageo has revealed it is investing $75 million (£55 million) into building its first whisky distillery in China as it targets the country‘s high-end market.The FTSE 100 drinks giant, behind brands from Johnnie Walker to Talisker, said it plans to open a 710,000 sq ft facility producing its first Chinese-origin single malt in Yunnan province. …
Business
Sky News
Paddy Power owner reveals £60m hit from ‘run of customer-friendly’ sports betting results
The owner of the Paddy Power and Betfair brands has revealed a £60m hit from a “run of customer-friendly” sports betting results last month, saying it will be partly responsible for a cut to its full-year financial guidance.Flutter Entertainment, which is the world’s largest online betting group, saw its shares tumble 7% at Tuesday’s market …
Business
Sky News
British scallop trawler released as France backs down on immediate threats in fishing feud
A British scallop trawler detained in a French port has now been released as France backed down in a post-Brexit fishing feud with the UK.Environment Secretary George Eustice told Sky News the impounded Cornelis Gert Jan, a Scottish-registered scallop dredger that had been detained by authorities in Le Havre, had now been released. “I understand …
Business
Evening Standard
Bluegreen becomes latest energy supplier to go bust amid gas price boom
Another small energy supplier has gone bust amid a squeeze on the sector caused by a spike in global gas prices.Bluegreen Energy Services, which had just 5,900 customers, has stopped trading, regulator Ofgem said on Monday.The supplier becomes the 14th to go out of business in the last two months, as global gas prices soar.The …
Business
Euro News
Web Summit 2021: Climate and cryptos are this year’s key themes, says CEO Paddy Cosgrave
Business
Sky News
Beckham brands partner GBG International close to administration
David Beckham’s consumer products licensing joint venture partner is close to financial collapse – a move which could hasten the former Manchester United midfielder gaining full control of the business.Sky News has learnt that GBG International Holding Company, which owns 51% of Seven Global, is close to appointing Teneo Restructuring as administrator. Sources said the …
Business
Evening Standard
Jes Staley quits over Epstein report: The character flaw that led to downfall of charming Barclays boss
Jes Staley, the banker in charge of Barclays until this morning, is a charmer.He first made his name as the boss of JP Morgan’s private bank in New York, where his job was to befriend and schmooze the very rich, of which Jeffrey Epstein was just one.He was good at it. Staley remembers details about …
Business
Sky News
Jaguar Land Rover swings to £302m loss as it counts cost of global chip shortages
Jaguar Land Rover, Britain’s biggest car maker, has swung to a quarterly loss of £302m after counting the cost of the global shortage of semiconductor chips.JLR said the shortages had held back sales volumes – which fell by nearly half in the UK compared with the same period a year ago – in the three …
Business
Sky News
Diesel joins petrol at record highs in critical week for inflation
Diesel costs have hit record levels just a week after a new peak was set for petrol prices, piling more misery on drivers and businesses as the cost of living surges.The average price of a litre of diesel on Sunday was 147.94p, according to Experian Catalist data cited by motoring groups the RAC and AA, …
Business
Sky News
Price of diesel at pumps hits record high as cost of living surges
Diesel costs have hit record levels just a week after a new peak was set for petrol prices, piling more misery on drivers and businesses as the cost of living surges.The average price of a litre of diesel on Sunday was 147.94p, according to Experian Catalist data cited by motoring groups the RAC and AA, …
Business
Evening Standard
Anytime Fitness: The five London areas set to get a new 24/7 gym this year
Gym franchise Anytime Fitness today revealed plans to open a string of sites by the end of 2021 as the sector rebounds post-restrictions. The chain, which has more than 165 UK outlets including over 40 London clubs, plans to launch five of its 10 new 24/7 gyms in the capital. Branches are set to open …

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