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Evening Standard
Billionaire Issa brothers add Co-op forecourts to Asda in £600 million deal
The billionaire Issa brothers have added another major asset to their sprawling retail empire after their majority-owned supermarketAsda snapped up 129 petrol forecourt sites from the Co-op in a £600 million deal.The deal, which includes £438 million cash and £162 million in lease liabilities, represents 5% of Co-op’s retail estate and is set to be …
Business
Evening Standard
Boost for London tech investments as Claret Capital beats fundraising targets
LONDON’s status as a major tech hub got a boost today after a new fund based in the City said it smashed its own targets to raise nearly £250 million to invest in start-ups.Claret Capital’s successful debt-financing round comes at a torrid time for big-name tech sector stocks and is a vote of confidence in …
Business
Evening Standard
Johnson: UK has financial strength to get through cost-of-living crisis
The UK is one of the most successful countries on earth and has the financial strength to get through the cost-of-living crisis, Boris Johnson said.The outgoing Prime Minister said investments were making the UK “fit for the future” and the country would get through the current “pressures” on living standards.Britons face months of soaring energy …
Business
Business Live
Carr’s agrees £44.5m deal to sell agricultural supplies division
A North East engineering firm stands to benefit from a £44.5m deal struck by its parent company. Carlisle-based agriculture and engineering group Carr’s has announced the deal to dispose of its agricultural supplies division Carr’s Billington – which has a number of stores in Northumberland and County Durham, as well as in Cumbria and Scotland …
Business
Business Live
NatWest to refund over 700 firms after it ‘forced’ businesses to open fee-paying accounts to secure loans
NatWest “forced” companies to open a fee-paying business current account in order to secure a loan, according to the Competition and Markets Authority (CMA). The watchdog said the practice, known as ‘bundling’, breached its rules over a three-year period. The bank will now issue a total of £600,000 in refunds. The CMA added that hundreds …
Business
Business Live
Rough’s return for gas storage gets go-ahead as steps are taken to ease energy crisis
Rough’s return to providing vital gas storage to enhance the UK’s energy security situation has moved a step forward. The North Sea Transition Authority has granted the required approvals and consents to Centrica for phase one of the site, off the East Yorkshire coast. The organisation, formerly Oil and Gas Authority, has confirmed the Hessle-based …
Business
Business Live
Co-op agrees to sell 129-strong petrol forecourt chain to Asda for £600m
Asda has agreed to buy the Co-operative Group’s 129-strong petrol forecourt chain in a deal worth around £600m. The supermarket chain, which is owned by the billionaire Issa brothers and TDR Capital, will take over 5% of Co-op’s entire retail estate – including 129 petrol stations and three development sites. Asda already runs 230 petrol …
Business
Sky News
Co-op sells petrol station business to supermarket giant
The Co-op has sold its petrol station business to supermarket giant Asda for £600m, it announced on Wednesday, saying the deal would free up cash for the company and strengthen its financial position. The deal includes 129 petrol forecourt sites across the country, representing 5% of Co-op’s total retail portfolio of 2,564 stores. The company …
Business
Sky News
Date announced for September rail strike
Staff at nine train companies will take part in a 24-hour strike starting at midday on 26 September, the TSSA union has said.The industrial action is over pay and working conditions, the union said, and will also include Network Rail, the owner of Britain’s train infrastructure. TSSA said it remained in discussion with National Rail …
Business
Sky News
More travel misery ahead as two unions announce strikes
There is more chaos ahead for rail passengers with two further strikes announced in September.Earlier this week it was announced that TSSA union members at nine train companies will take part in a 24-hour strike starting at midday on 26 September. On Wednesday it was confirmed by union Aslef that train drivers at 12 rail …
Business
Sky News
UK food prices see biggest jump for 14 years
Food prices rose at their fastest rate since 2008 in August – up 9.3% after a 7% increase last month.The figure comes from the British Retail Consortium (BRC) and NielsenIQ index, which blamed the Ukraine war and its effect on the price of animal feed, fertiliser, wheat, and vegetable oils. Fresh food prices were 10.5% …
Business
Sky News
Tough choices for Germany as coal power stations return to keep people warm this winter
In Germany, coal is making something of a comeback.A power station once marked for closure in the town of Bexbach is being resurrected. For the last few years, the plant was in the “grid reserve”, meaning it was called upon to supplement shortages in the power network a few days a year.Now, it’s one of …

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