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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 …
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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” …
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 …
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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 …
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 …
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 …
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 …
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 …
Business
Business Live
Investment giant Vanguard to open first UK office outside London in city centre landmark
An investment giant has signed a deal to open an office in a landmark building in Manchester city centre. Vanguard is to lease the seventh floor at the Landmark office development in St Peter’s Square. The company has taken a 10-year lease for the 14,013 sq ft and will join the likes of HSBC UK, …
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Business Live
Plans for 120 homes on quiet country lane refused for fourth time
Plans to build 120 homes on a quiet country lane in the Leicestershire countryside have been refused for a fourth time. Hundreds of people objected to the plans by Davidsons Homes to develop a site on green fields in the west Leicestershire village of Desford. There were concerns that it would be built on a …
Business
Business Live
Works starts on final phase of Redditch Gateway
Construction has started on a huge new industrial development in the West Midlands. Birmingham-based developer Stoford is leading the second and final phase of the Redditch Gateway scheme near junction three of the M42. It is constructing two new grade A warehouses that will deliver around 450,000 sq ft of logistics accommodation to the market. …
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Business Live
Dreams opens new £2m warehouse in the Black Country
Bed retailer Dreams has launched a large new £2 million distribution centre in the Black Country. The company has opened a 260,000 sq ft warehouse hub in Willenhall, the largest within its 18-strong network across the UK. The new facility will support faster deliveries to customers within the Midlands region and wider country and has …

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