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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 …
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 …
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 …
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, …
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 …
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 …
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 …
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 …
Business
Sky News
Cineworld ends plan to sell its UK, US and Ireland businesses
Troubled cinema chain Cineworld is terminating plans for the sale of its UK, US and Ireland businesses.The news was announced by the world’s second-largest cinema chain on Monday, as it also revealed plans to raise $2.26bn (£1.8bn) in new funding in an effort to get out of bankruptcy protection. Cineworld, with around 750 sites worldwide, …
Business
Sky News
Tesla vehicle sales up in first quarter after price cuts
Tesla saw its sales rise by 36% in the first financial quarter, after two price cuts aimed at boosting demand.The electric car, SUV and heavy truck manufacturer said it delivered 422,875 vehicles worldwide between January and March – up from just over 310,000 a year ago. Over the same period it produced 440,808 vehicles – …
Business
Sky News
Oil prices surge after Saudis and others announce production cuts
Oil prices are up more than 5% after Saudi Arabia and other major producers vowed to cut production.Brent crude, the international oil benchmark, was up 5.5% by 9am on Monday to $84.28 per barrel after it was announced that production would be cut by 1.15 million barrels per day from May until the end of …
Business
Business Live
Develop North PLC delivers 40% loan book boost in challenging economy
Directors at North East listed property investment fund Develop North Plc have boosted its loan book, despite challenging conditions. The company – a fund launched seven years ago to build up a development cash pot – announced results for the year ended November 30 2022, in which loan facilities reached £25.5m, an increase of more …

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