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04.04.2023 - 09:36
Business
Business Live
New CEO for company behind £120m stalled Saltend plant set to produce next generation MDF
A new chief executive has been appointed to lead Accsys Technologies Plc, the company behind the stalled construction product manufacturing plant in Hull. Jelena Arsic van Os will join the business that has put its £120 million Tricoya operation at Saltend on hold in July. She has more than 20 years’ experience in senior executive …
04.04.2023 - 09:33
Business
Business Live
Clarks UK managing director steps down from role, exiting the business
Joe Ulloa, managing director for the UK, Ireland and MEA (the Middle East and Africa) at Clarks has stepped down from the role. Mr Ulloa joined the shoe retailer in 2017 as retail and franchise director of the UK and Europe. He later became managing director of the UK and Ireland in 2019 and in …
04.04.2023 - 09:01
Business
Evening Standard
Saga cruise arm rebounds, but £269 million hit from insurance arm leads to steep losses
Self-described “superbrand for older people” Saga was hit by a £269 million writedown of its insurance business because of tighter regulations, despite a rebound for its cruise business boosting its underlying figures.Revenue jumped by 54% to £581.1 million, thanks mostly to the return of travel, with Saga’s travel business growing tenfold and ocean cruise revenue …
04.04.2023 - 08:39
Business
Evening Standard
Virgin Orbit files for bankruptcy
Billionaire Richard Branson’s ambitious plans to launch the first satellites from the UK came crashing down to earth today after the company into which he had poured over $1 billion in cash filed for bankruptcy.Virgin Orbit, which Branson founded in 2017, said it had commenced a Chapter 11 proceedings at a US Bankruptcy Court in …
03.04.2023 - 11:25
Business
Sky News
Ultimate Fighting Championship owner and WWE combining to create $21.4bn company
Ultimate Fighting Championship owner Endeavor Group Holdings Inc. and WWE are combining to create a $21.4bn (£17.3bn) sports entertainment company.Under the deal, Endeavor will hold a 51% controlling interest in the new company, which does not yet have a name, while existing WWE (World Wrestling Entertainment) shareholders will hold 49%. The firms put the enterprise …
03.04.2023 - 10:34
Business
Sky News
Clean energy start-up Xlinks wins Abu Dhabi backing for £18bn project
An Abu Dhabi-listed energy company is in advanced talks to provide financial backing to Xlinks, a British-based startup hoping to build the world’s longest undersea cable to help meet future UK energy needs.Sky News has learnt that Taqa, which has operations spanning oil and gas, water and carbon capture and storage, is negotiating the purchase …
03.04.2023 - 10:10
Business
Evening Standard
Efforts to tackle modern slavery ‘waning as transparency rules ignored’
Efforts to tackle modern day slavery are stalling as the number of companies disclosing anti-slavery measures within their supply chains has nearly halved, according to new analysis.International body the Chartered Institute of Procurement and Supply (CIPS) called on the Government to better enforce critical transparency rules that are being “ignored”.Some 29% of organisations required to produce …
03.04.2023 - 10:04
Business
Evening Standard
Oil prices surge after Opec+ production cuts
Shares in London’s biggest oil companies spiked on Monday morning after a weekend decision from some of the world’s biggest oil-producing countries to slash output.Shell and BP saw their share prices rise by more than 4% each following a jump in the price of oil, which lifted off recent lows.Opec+, a cartel of oil-producing countries, …
03.04.2023 - 10:00
Business
Business Live
Avison Young wins Paradise brief
Property agency Avison Young has been awarded the brief to manage a new Birmingham city centre office block. Work on One Centenary Way is nearing the end at the Paradise complex after it reached practical completion last month. The agency will manage the 13-storey, 280,000 sq ft building on behalf of landlord MEPC which is …
03.04.2023 - 09:39
Business
Business Live
Surf operator The Wave to start work on solar initiative for summer 2023
Surf park operator The Wave has announced plans to create a solar and energy storage array at its facility near Bristol. The Wave, which was established by social entrepreneur Nick Hounsfield in 2019, has said it is aiming for sunshine-powered waves to be rolled out from June 2023. Planning, funding and contracts are now all …
03.04.2023 - 08:57
Business
Evening Standard
WANdisco CEO and CFO quit as fraud investigation finds $115 million black hole in finances
The bosses of beleaguered tech firm WANdisco are to quit the business after an internal investigation into suspected fraud found over $115 million in missing bookings.Co-founder and CEO David Richards and CFO Erik Miller are to step down from the board with immediate effect, WANdisco said today, as the firm scrambled to find interim execs …
03.04.2023 - 08:50
Business
Evening Standard
Passport Office staff in Scotland ‘relying on food banks’ as strike starts
Passport Office staff in Scotland are “relying on food banks”, a union representative has said as workers begin a five-week strike in a row over jobs, pay, pensions and conditions.More than 1,000 members of the Public and Commercial Services Union (PCS) at eight sites are walking out in an escalation of the long-running row.Workers are …
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