Two thirds of employers considering pay cuts for remote workers August 16, 2021 As many as two thirds of companies are considering slashing the pay of staff who are hesitant to return to the office. Up to 68 per cent of businesses are debating whether or not to introduce pay cuts for staff who choose to work from home, according to a survey by HR software provider CIPHR. [...]
Saudi Aramco sizes up private equity and sovereign funds for $17bn gas pipeline stake August 16, 2021 Saudi Aramco is looking to raise at least $17bn from the sale of a significant minority stake in its gas pipelines, sources told Reuters today. A sale that large for a slice of the pipeline deal would be higher than the $12.4bn raised from its oil pipeline deal. Potential bidders including North American private equity [...]
Willis Towers Watson names investment head Carl Hess as next CEO August 16, 2021 Insurance giant Willis Towers Watson today named company insider Carl Hess as its next CEO and president, three weeks after the collapse of its planned $30bn (£22.9bn) mega-merger with rival Aon. Hess, who currently heads up the firm’s investment, risk and reinsurance segment, will step into current CEO John Haley’s shoes immediately upon his retirement [...]
Cobham and Ultra Electronics reach £2.6bn deal with UK jobs guarantee to assuage ministers August 16, 2021 The boards of Cobham and Ultra Electronics have agreed terms of a £2.6bn takeover deal, that caused national security concerns for Business Secretary Kwasi Kwarteng last month. Cobham said the board at defence and engineering firm Ultra had backed backed the 3,500p per share that values it at £2.57bn. Shares in Ultra jumped out of [...]
Clipper Logistics offers 200 new jobs after John Lewis contract win August 16, 2021 Clipper Logistics today said it has signed a new contract with John Lewis which promises to create 200 new jobs. Clipper said it will provide additional e-commerce and store replenishment services to the UK department store chain from its new distribution centre. The Leeds-based company, which provides value-added logistics solutions, e-fulfilment and returns management services [...]
Three companies that are on major hiring sprees right now August 16, 2021 If you’re currently on the lookout for a new and exciting job, we have some pretty good news for you. We’ve noticed a real spike in the amount of jobs popping up on our brilliant job board lately. Incredible companies in London (and beyond, if you feel like a new adventure) are on hiring sprees [...]
Psychedelic medicines start up raises £58m August 16, 2021 An Oxford based company which uses psychedelic medicines to treat neurological disorders has completed an oversubscribed £58m funding round. Beckley Psytech today announced that their Series B financing round had to be upsized from $50m (£36m) to $80m on account of investor demand. The funding will be used to complete an ongoing trial which uses [...]
IPCC report: why the detail matters to energy investors August 16, 2021 | City Talk The United Nation’s Intergovernmental Panel on Climate Change (IPCC) report will shock many people. The data speaks for itself and illustrates the most important challenge facing humanity over the next 100 years. We expect the IPCC report to shock government leaders and lead to actionable policies being implemented at the COP26 climate summit in November. These [...]
The future of the office: How one property firm is using virtual reality to create the new normal August 16, 2021 The future of the office has never been more richly discussed. For all the benefits of flexible working, most firms seem determined to bring people back in to reap the benefits of collaboration and creativity. But the co-founder of one property firm, Kitt, is determined to make sure that when we get back to the [...]
BHP mulls selling its petroleum division and it could fetch $15bn August 16, 2021 BHP is mulling a merger which would offload the company’s petroleum division for as much as $15bn amid growing environmental pressure. Today, the mining giant said it had “initiated a strategic review” of its multi-billion dollar Petroleum business to “re-assess its position and long-term strategic fit in the BHP portfolio.” The statement confirmed that a merger [...]
