The future of Wilko, the family-owned homewares and hardware retailer, is in doubt as it faces administration after failing to secure a rescue deal. The company, which has more than 400 stores and 12,000 employees in the UK, confirmed last week that it had filed a notice of intention to appoint administrators, giving it 10…
Harbour Energy to sell Vietnam business for $84 million
LONDON, UK: Harbour Energy has entered into Sale and Purchase Agreements to sell its business in Vietnam, which includes its 53.125 per cent interest in the Chim Sao and Dua producing fields, to Big Energy Joint Stock Company for a consideration of $84 million. The transaction, which is subject to government approvals, has an effective…
IKEA to open downtown San Francisco store amid retail exodus
IKEA, the global furniture giant, is set to open a new store in downtown San Francisco on August 23, the company announced on Tuesday. The store will be located at 945 Market Street, near the Powell Street BART station, and will be part of a new urban mall developed by Ingka Centres, an IKEA-affiliated company….
Samsung Galaxy S24 Ultra may have a 50MP telephoto camera, leak suggests
Samsung’s next flagship smartphone, the Galaxy S24 Ultra, could have a major camera upgrade, according to a new leak. The device is rumored to feature a 50MP 3x telephoto camera, which would be a significant improvement over the 10MP 3x telephoto camera of the Galaxy S23 Ultra. The leak comes from Ice Universe, a well-known…
Xiaomi to launch Mi Mix Fold 3 foldable smartphone on August 14
Xiaomi, the Chinese smartphone maker, is set to unveil its latest foldable smartphone, the Mi Mix Fold 3, on August 14 in China. The company’s CEO, Lei Jun, confirmed the launch date and shared some official images of the device on Weibo, a social media platform formerly known as Twitter. The Mi Mix Fold 3…
Capita Plc agrees to sell its travel businesses to Clarity Travel Ltd for £36.5 million
LONDON, UK: Capita plc has agreed to sell its travel and events businesses Agiito and Evolvi to Clarity Travel Ltd for an enterprise value of £36.5m on a cash free, debt free basis. Taking into account the working capital and debt liabilities that Clarity is assuming as part of the transaction, Capita expects to receive…
Savills appoints Stacey Cartwright as new Chair
LONDON, UK: Savills plc, the international real estate advisor, has announced that Stacey Cartwright will take over as Chair of the company from Nicholas Ferguson, who will retire from the Board at the end of 2023. Stacey Cartwright has been a non-executive director of Savills since 2018, and Senior Independent Director since 2021. She has…
Galileo Resources confirms lithium discovery at Kamativi Project in Zimbabwe
LONDON, UK: Galileo Resources plc, a UK-based exploration and development company, has announced that it has confirmed the presence of lithium mineralisation over a significant width in the first hole drilled at the Kamativi Project in Zimbabwe. The project is located on the Kamativi Belt, adjacent to the historic Kamativi tin-tantalum mine, which also contains…
Capital & Regional acquires Edinburgh shopping centre for £40 million
LONDON, UK: Capital & Regional, a UK focused REIT that owns and manages a portfolio of in-town community shopping centres, has announced that it has agreed to buy The Gyle Shopping Centre in Edinburgh for £40 million, excluding acquisition costs. The Gyle Shopping Centre is a dual supermarket anchored community centre located in the south…
Exchange rates for GBP against major currencies on August 10, 2023
LONDON: The latest exchange rates for GBP against major currencies such as USD, EUR, JPY, AUD and more. Stay up-to-date on the latest fluctuations and trends in the GBP-exchange market. According to www.exchangerates.org.uk: GBP-EUR 1.1582 Pounds to Euros GBP-USD 1.2722 Pounds to Dollars GBP-NZD 2.0988 Pounds to New Zealand Dollars GBP-AUD 1.9442 Pounds to Australian…
Epassi Group sells majority stake to TA Associates and Warburg Pincus
Epassi Group, a Nordic leader in digital employee benefits payments, has sold a majority stake to two global private equity firms, TA Associates and Warburg Pincus, for an undisclosed amount. The deal will support Epassi’s vision to become the leading digital, pan-European employee benefits provider. Epassi, founded in 2007, offers a range of employee benefits…
Amyris files for bankruptcy, plans to sell consumer brands
Amyris, a biotech firm that produces sustainable ingredients for various industries, has filed for Chapter 11 bankruptcy protection in the U.S. court. The company said it intends to sell its consumer brands, such as Biossance and Pipette, to improve its liquidity position. The company has secured a $190 million financing commitment from its lenders to…