On Friday February 19th, following a lengthy legal fight, Uber lost a momentous battle at the Supreme Court in one of the most significant employment cases in recent decades. The UK’s highest court ruled against the firm, concluding that its drivers should be classed as workers rather than independent third-party […]
Billionaire Tilman Fertitta is taking his restaurant and casino empire public by merging with Fast Acquisition Corp, a special purpose acquisition company (SPAC) that raised $200m in its IPO in August 2020, taking advantage of recent investor enthusiasm for SPAC deals. After a difficult period for the company due to […]
Online gaming platform Roblox filed to go public last week, joining a host of other technology companies looking to take advantage of the surging stock market conditions, particularly in recent weeks, with higher investor optimism being helped along by good news about virus vaccine trials. Roblox’s public debut will further […]
Despite the UK entering its largest-ever recession this year, with the economy shrinking by more than 20% in Q2, house prices have shown strong growth, rising by 5.8% year-on-year to reach a record high of £227,826 in October 2020, the biggest annual rise in almost 6 years. The UK property […]
Introduction The cost of coronavirus-related government expenditure in recent months has sent the UK national debt above the £2tn mark in August 2020 for the first time since records began. National debt now stands at more than the value of the economy – representing 101.9% of GDP. The central government’s […]
Introduction In an attempt to aid the UK economic recovery, Chancellor Rishi Sunak introduced the “Eat Out to Help Out” Scheme in early August, which received over 130 million claims during its course of operation. The scheme, which provided discounts on food and drinks in participating restaurants, was aimed to […]
Introduction Fast-food company Yum China, which operates Pizza Hut, KFC, and Taco Bell in China, has become the latest New York-listed Chinese company to pursue a secondary share sale in Hong Kong amidst rising tensions between Washington and Beijing, which have reached their worst state in decades. Pricing its shares […]
Introduction Airbnb has filed a confidential draft registration statement with the US Securities and Exchange Commission for an IPO, which is likely to be one of the biggest this year. With this announcement, the accommodation booking company becomes the latest to join numerous other companies looking to go public to […]
Introduction Advent International, a US-based private equity firm, will acquire the majority of Hermes’s operations in the UK, as well as a smaller stake of Hermes’s German business, from German mail group and e-commerce company Otto Group in a €1 billion deal. This comes as the surge in demand in […]
Seven & i Holdings, owner of 7-Eleven, will acquire leading convenience store and gas station chain Speedway from the current owner, Marathon Petroleum, for $21bn, 5 months after the Japanese retail giant stopped talks amidst the coronavirus pandemic. This deal, being the biggest acquisition by Seven & i and one […]
In early July, Amazon’s market value topped the $1.5 trillion mark for the first time, becoming just the third company to reach this landmark achievement after Apple and Microsoft. Amazon’s shares are currently trading at $3124.18, up 44.0% since the pre-virus peak in mid-February and up 64.6% year to date, […]
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