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Evening Standard
Mike Ashley ‘set to step down’ as boss of Sports Direct owner
Sports Direct founder Mike Ashley is set to step down from leading his retail empire and hand the reins to his prospective son-in-law, according to reports.The tycoon is expected to reveal plans to step back from his role as chief executive of Frasers Group to become deputy chairman on Thursday, the Telegraph has reported.It said …
Business
Sky News
Motorists count cost as petrol prices hit eight-year high fuelled by oil demand
Millions of motorists are being hit in the pocket as petrol prices reach an eight-year high after nine successive months of hikes, latest RAC figures show.And the cost at the pump is only set to rise further, warns the motoring organisation, with demand for oil outstripping supply amid the continuing global recovery from the coronavirus …
Business
Sky News
Staycation frenzy sparks £600m merger of Away Resorts and rival Aria
The staycation frenzy gripping Britain’s tourism industry is spurring a £600m merger of two of the country’s biggest holiday park operators.Sky News has learnt that Away Resorts is buying rival Aria Resorts, which operates 14 sites across the UK, in a deal that could be confirmed as soon as Wednesday. Sources said that Away, which …
Business
Sky News
CBI urges economy to ‘live with COVID’ while warning of ‘last chance’ for travel
A business lobby group has demanded the economy is allowed to “live with COVID”, while warning that continuing restrictions mean the travel industry is in the “last chance saloon”.The Confederation of British Industry (CBI) used the publication of its report on lessons from the summer reopening to urge more support for firms battered by the …
Business
Sky News
‘We can open the Champagne’: Businessman’s relief as Ever Given arrives four months late
A UK businessman with precious stock on the container ship Ever Given has spoken of his relief that the ship has finally arrived in the UK, four months later than scheduled.The vessel, one of the largest of its kind in the world, docked at Felixstowe to offload cargo following one of the most extraordinary maritime …
Business
Evening Standard
BuyMeOnce: Sustainable retail startup launches crowdfunding campaign in bid to grow buy-for-life ‘movement’
A female-founded, London-based sustainable retail startup has launched a £500,000 crowdfunding campaign in a bid to grow its buy-for-life “movement”. BuyMeOnce.com rates and sells durable products that come with a lifetime guarantee. Its founder, north Londoner Tara Button, launched the business aged 31 in 2016 on a mission to reduce consumer waste and help the …
Business
Sky News
Finance giants devise climate plan to speed up closure of coal-fired plants in Asia
Major financial firms, including the British insurer Prudential and UK banking giant HSBC, are behind plans to speed up the closure of Asia’s coal-fired power stations in the face of the climate crisis.The initiative, which is being driven by the Asian Development Bank and also involves global lender Citi and BlackRock Real Assets, aims to …
Business
Sky News
Pepsi squeezes $3.3bn from Tropicana in private equity deal
PepsiCo has agreed a $3.3bn (£2.4bn) deal to offload a majority stake in Tropicana and other juice brands.The New York-based drinks and snack giant said it would retain a 39% interest in the joint venture with PAI Partners of France. It had bought Tropicana in 1998 for $3.3bn.Other brands in the agreement include Naked Juice …
Business
Business Weekly
Mestag extends seed financing to $45m with new backers
Mestag Therapeutics in Cambridge, a breakthrough inflammatory disease and immuno-oncology company, has closed an oversubscribed seed round extension to take the total to $45 million.  The extension of $34m was led by Amsterdam-based investment firm Forbion together with global healthcare investors GV (formerly Google Ventures) and Northpond Ventures and supported by founding investors SV Health …
Business
Evening Standard
Fewer car sales and new drivers cut Churchill car insurer Direct Line’s claims
Churchill car insurer Direct Line today said motor premiums had stabilised and claims frequency levels were returning to normal after the easing of lockdown restrictions.The group’s gross written premium figure for motor insurance fell 6.2% in the first half of the year, but with the reduction moderating to 1.5% in the second quarter.Fewer new car …
Business
Business Live
Forterra to invest £27 million into Staffordshire brick factory
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Business
Business Live
Loganair launch new Cardiff to Edinburgh service
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