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29.03.2023 - 10:34
Business
Business Live
Mogers Drewett completes acquisition of Bath-based Freemans Solicitors
Mogers Drewett has completed a deal to buy Bath-based Freeman Solicitors, following Freeman director Shaun Freeman’s decision to retire. The South West legal and financial planning firm intends to grow its market share in both of its services areas with the acquisition. Freemans Solicitors was established in 1999 and has since developed a specialist private …
29.03.2023 - 09:47
Business
Evening Standard
FTSE 100 Live: Next shares fall; steady start for London trade; Ermotti back at UBS, mortgage approvals up
London’s FTSE 100 made a steady start, with investors in cautious mood after US tech stocks stood out overnight during a fall for Wall Street markets. Consumer credit data for February will test improving sentiment toward banks and will also resonate in the housebuilding sector, via insight into demand for mortgages in the UK. Shared …
29.03.2023 - 09:43
Business
Evening Standard
Unions say Illegal Migration Bill is a ‘gift to dodgy employers’
Correspondent unions say the Government’s Illegal Migration Bill is a gift to “dodgy employers”.The Trades Union Congress (TUC) said the legislation could lead to more migrant workers being exploited in the underground economy – a problem it says is already “rampant”.It says the Bill would leave nearly 200,000 asylum seekers in limbo indefinitely by trapping …
29.03.2023 - 09:13
Business
Evening Standard
UBS appoints former boss to lead ‘urgent and challenging’ Credit Suisse merger
Swiss bank UBS has reappointed its former boss to lead the takeover of Credit Suisse after it rescued the beleaguered rival lender.Sergio P. Ermotti will replace Ralph Hamers as group chief executive as the bank faces the “urgent and challenging” task of merging the two global banking giants.UBS said Mr Ermotti, who led the group …
28.03.2023 - 10:18
Business
Business Live
Billionaire Issa brothers make offer to get Asda’s £600m Co-op deal approved amid £8bn Subway move
The billionaire Issa brothers have made an offer which they hope will help get Asda’s £600m deal with the Co-op approved. The businessmen, along with their private equity partner TDR Capital, have proposed selling 13 petrol stations in a bid to persuade the Competition and Markets Authority (CMA) to back the deal. Earlier this month …
28.03.2023 - 10:09
Business
Business Live
Good Energy profit margins cut by ‘rapidly increasing’ wholesale costs
Renewable electricity supplier Good Energy has seen its profit margins cut as its rising prices were unable to keep pace with “rapidly increasing” wholesale costs. The Wiltshire-headquartered company reported a 70% rise in revenue to £248.7m for last year – up from £146m in 2021. Bosses at the AIM-listed firm said the “knock on effects” …
28.03.2023 - 10:05
Business
Evening Standard
Bank of England chief: HSBC was only reasonable bidder for Silicon Valley Bank UK
Bank of England governor Andrew Bailey said HSBC was effectively the only bidder remaining for failed lender Silicon Valley Bank’s UK arm once the sale process got fully underway.The Bank boss faced questions from the Treasury Committee today after tech-focused Silicon Valley Bank collapsed in the US earlier this month, which then led to the …
28.03.2023 - 09:58
Business
Business Live
The St David’s Shopping Centre in Cardiff acquired by real estate giant Landsec
Real estate giant Landsec has acquired 100% ownership of the St David’s shopping centre in Cardiff as well as on taking on the adjacent former Debenhams store which is plans to transform with a focus on new bars and restaurants. Landsec, which previously had a joint stake in the flagship shopping centre with Intu, has …
28.03.2023 - 09:20
Business
Evening Standard
Water firms urged to be more ‘creative’ in how they charge customers
Water firms have been encouraged to be more “creative” in how they charge customers to help them cut bills and save supplies.Under new Ofwat rules, Affinity Water, which supplies households across south-east England, will charge around 1,500 pre-selected households a cheaper rate for using a lower amount – or “block” – of water, and progressively …
28.03.2023 - 08:58
Business
Evening Standard
William Hill to pay record £19 million penalty for social responsibility failings
William Hill will pay a record £19.2 million penalty for “widespread and alarming” social responsibility and anti-money laundering failures, as the Gambling Commission said it seriously considered suspending the betting firm’s licence.The “settlement” is the largest in the Gambling Commission’s history, overtaking a £17.1 million payment made by Entain last year. The watchdog said it …
28.03.2023 - 08:48
Business
Evening Standard
Housebuilder Bellway sees signs of recovery from tough 2022 as buyers adjust to new normal for mortgage rates
Housebuilder Bellway saw private home reservation rates slump by more than 40% in 2022, but its CEO said trading has picked back up in 2023 as buyers get used to a new normal for mortgage rates.Profit dipped by 2.1%, partly due to what CEO Jason Honeyman called “challenging operating and trading conditions in the period”.Bellway’s …
28.03.2023 - 07:18
Business
Evening Standard
Diageo’s Ivan Menezes to step down as chief executive
Multinational spirits giant Diageo has appointed its first female chief executive after announcing the retirement of Sir Ivan Menezes after a decade in the top job.Debra Crew will step up from her current position as chief operating officer and lead the FTSE 100-listed business from July 1.Mr Menezes joined Diageo, which owns brands including Johnnie …
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