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Automobiles
Pendragon owner to cut hundreds of jobs in used car overhaul
...The new owner of UK car dealerships Stratstone and Evans Halshaw is preparing to cut hundreds of jobs after a collapse in the supply of used cars following the coronavirus pandemic....
April 23, 2024
EG Group
Asda owners borrowed $7mn more from petrol station empire to repay private jet loans
...The billionaire British co-owners of supermarket Asda borrowed millions more from their petrol station company EG Group to repay debt they took on to buy two private jets....
February 14, 2024
FT Live
Future of the Car
The technology and new business models shaping the next decade in automotive
Tuesday, 7 MaySancroft, Paternoster Square, London EC4M 7DQ, UK
Travel & leisure industry
CitizenM owners explore potential sale of hotel group
...The owners of boutique hotel chain CitizenM are working with bankers to explore options for the business, including a potential sale, as it seeks to expand following a rebound in the travel sector post-pandemic.Netherlands-based...
March 27, 2024
FT News Briefing podcast12 min listen
Thames Water hits the gutter
...Nato is trying to ‘Trump-proof’ funding for the war in Ukraine, Thames Water’s owners will start urgent restructuring talks, and birth rates are declining despite wealthy countries investing in family- friendly...
April 3, 2024
Letter
Letter: Capital gives owners of banks skin in the game
...The rationale for capital requirements is rather to secure the result that if financial institutions do fail, their owners will lose something and thus “have skin in the game”....
April 10, 2024
Travel
A roof with a view: Barcelona’s revamped Grand Hotel Central
...Opening this up to guests is just one of the hallmarks of a €14mn refurbishment and relaunch under new owners that has transformed a staid, increasingly fatigued landmark into a cultured and colourful five-star...
April 28, 2024
FT Live
TNW Conference 2024 - The Next Web
Europe’s leading tech event for corporates, startups, investors and governments
Thursday, 20 JuneAmsterdam, Netherlands
Scoreboard
Football team owners call for change
...Textor: Let rich owners spend what they want While Cardinale urged clubs to rein in spending, some put forward the opposite view....
March 2, 2024
Live news: More banks push back expectations of US rate cuts
L’Occitane owner offers to take skincare group private at valuation of about €6.5bn
...The billionaire owner of L’Occitane has made an offer to take the French skincare company private in a deal with an enterprise value of about €6.5bn, including net debt....
April 29, 2024
Lex PopuliPersonal Finance
Shedding small brands offers balm to corporate owners
...But legacy owners appear to have faith in the new private equity owners....
February 2, 2024
Kering SA
Shares in Gucci owner Kering sink after profit warning
...Kering said on Tuesday that it expected sales to improve in the second half of the year as the year-on-year basis of comparison eases and the Gucci rebound gains momentum....
April 24, 2024
Scoreboard
F1 owner bets big on two wheels Premium content
...Qatar Sports Investments, owner of Paris Saint-Germain, had a good look too at what would have been by far the biggest deal so far for the state-backed fund....
March 30, 2024
News updates from April 17: UK inflation falls less than expected; Boeing engineer says safety concerns are ignored
Czech billionaire Daniel Křetínský preparing bid for Royal Mail owner
...Czech billionaire Daniel Křetínský is preparing a takeover bid for Royal Mail owner International Distributions Services, according to people familiar with the matter....
April 17, 2024
News updates from April 8: Millions watch solar eclipse; Elon Musk predicts AI will overtake human intelligence in 2025
Paco Rabanne owner Puig aims to raise €1.25bn in IPO
...Bankers have valued the company at between €8bn and €10bn. The filing did not specify what proportion of shares the founding family wants to sell to investors....
April 8, 2024
Letter
Letter: Blame real estate owners for the woes of department stores
...of Jelmoli and Globus in Zurich demonstrate the damage that can be inflicted on business by unscrupulous real-estate owners....
February 19, 2024
News updates from March 25: Boeing CEO to step down; UN Security Council calls for Gaza ceasefire
B&Q owner Kingfisher expects profits to fall again
...Kingfisher, owner of the B&Q, Screwfix and Castorama DIY chains, has warned that profits will fall again this year, after a 25 per cent drop in the year to January....
March 25, 2024
FT Live
Accelerating the Energy Transition in Asia
Industrial strategies and policy drivers for sustainability
Tuesday, 30 JulyMandala Club, 31 Bukit Pasoh Rd, Singapore 089845
Whitbread PLC
Premier Inn owner to cut 1,500 jobs as it scales back restaurants
...Premier Inn owner Whitbread is cutting about 1,500 jobs as part of a plan to convert its struggling restaurants into hotel rooms, after strong demand for the budget accommodation chain pushed up profits...
April 30, 2024
News updates from April 23: Tesla to speed up launch of ‘affordable’ models; US regulator bans non-compete agreements
Associated British Foods profits jump more than a third as Primark owner ‘returns to normality’
...Profits jumped by more than a third at the owner of Primark in the first half as the sprawling business group returned “to some normality” after years of upheaval in its supply chain....
April 23, 2024
News updates from March 27: Yen hits 34-year low; Nobel winner Daniel Kahneman dies
Formula One owner closes in on €4bn deal for MotoGP
...Formula One owner Liberty Media is in exclusive talks to buy the company that owns MotoGP for more than €4bn, in a deal that would unite the elite car and motorcycle racing series, according to people familiar...
March 27, 2024
News updates from March 7: Sweden joins Nato; Powell says Fed ‘not far’ from having confidence to cut rates
Chelsea owner sinks to £650mn loss
...The scale of the loss shines a spotlight on the hefty sums Chelsea has spent on revamping its squad since the takeover....
March 7, 2024
News updates from April 4: British billionaire avoids prison for insider trading; Italy seizes assets in EU fund fraud case
Ladbrokes owner Entain replaces chair as search goes on for new chief executive
...Last month, the FT reported that Entain had hired advisers to oversee the possible sale of some its overseas brands, as it sought to lift its share price....
April 4, 2024
TikTok Inc
US Congress approves bill banning TikTok unless Chinese owner sells platform
...US app stores will be banned from carrying TikTok in 270 days unless its Chinese owner sells the video-sharing platform after Congress passed a security package that includes measures to counter threats...
April 24, 2024
Travel & leisure industry
Owners consider taking Soho House private after short seller report
...The board — which is led by Burkle and also includes Jones and former majority owner Richard Caring — owned 74 per cent of the stock, the members club group noted....
February 9, 2024
News updates from March 20: Fed signals 75 bps of 2024 cuts; Reddit prices shares at top end of IPO range
Owner of China’s Temu posts 123% increase in quarterly revenues
...PDD posted net profit of Rmb23bn ($3bn) on revenues of Rmb88bn in the three months to December, a 146 per cent and 123 per cent increase respectively from the previous year....
March 20, 2024
News updates from March 12: US House votes through bill to ban TikTok; Geert Wilders announces he will not be Netherlands PM
Zara owner reports rising sales in crucial final quarter
...Zara-owner Inditex, the world’s biggest fashion group, reported a slight increase in sales growth in the crucial final quarter of the year for retailers while cost control helped its profits jump.The Spanish...
March 13, 2024
FT Schools
US High School Economics class: Legoland and Madame Tussauds owner to roll out surge pricing
...Specification: Supply and Demand Click to read the article below and then answer the questions: Legoland and Madame Tussauds owner to roll out surge pricing Why would you expect to pay more in peak holiday...
April 8, 2024

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