THG has successfully secured nearly £100 million from both new and existing investors, including a significant £10 million investment from Mike Ashley’s Frasers Group, aimed at supporting the launch of its struggling technology division, Ingenuity. Frasers Group, known for its retail brands such as Flannels, House of Fraser, and Sports Direct, made this strategic contribution…
In May of last year, Ofgem initiated an investigation into the type of wood being utilized by Drax in its biomass energy facilities, leading to a significant drop of £150 million in the company’s market value. Investors were primarily concerned that following a deep dive into Drax’s «profiling data,» Ofgem’s chief, Jonathan Brearley, might uncover…
The elimination of VAT-free shopping for international tourists is profoundly impacting consumer spending in Britain, according to Neil Clifford, CEO of Kurt Geiger. Clifford highlighted that after the UK discontinued the VAT retail export scheme in 2021 post-Brexit, many shoppers are now favoring other European destinations for their purchases. This program had previously enabled visitors…
Segro, a major player in the FTSE 100 property sector, has announced a recommended all-share takeover bid valued at £552 million for Tritax EuroBox. This move may trigger a competitive response from Canadian investment firm Brookfield, which has indicated interest in formulating a cash offer for EuroBox. The proposed all-share offer equates to approximately 68.4p…
The Financial Conduct Authority (FCA) is initiating an independent investigation into its chairman, Ashley Alder, who faces allegations of breaching the regulator’s established code of conduct concerning whistleblower protections. Richard Lloyd, the FCA’s senior independent director, will spearhead the review into Alder’s actions, particularly regarding claims that he disclosed the identity of a whistleblower who…
Apple has expressed concerns to the United Kingdom’s competition regulator about what it deems a «flawed and insufficient» investigation into its position in the mobile browser sector, warning that it could negatively affect both consumers and developers. The tech giant criticized the Competition and Markets Authority (CMA) for relying on outdated data and «unsubstantiated assertions»…