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Premiership Rugby: How will your team fare in the new 2021-22 season?

BBC London News Feed - 8 hours 13 min ago
BBC Sport looks at the chances of all 13 sides ahead of the new Premiership rugby union season.

Tobacco firm Philip Morris secures £1bn takeover of inhaler maker Vectura

Philip Morris, the maker of the world’s most popular cigarette brand Malboro, has sealed its £1bn takeover of asthma inhaler maker Vectura with a bumper share purchase.

In August, the Vectura Directors supported a takeover bid from Philip Morris International to purchase Vectura at a price of 165 pence per share after a fierce bidding war. Today, Philip Morris has announced the additional purchase of shares from the company’s investors, upping its total stake to 74.7 per cent, well above the 50 per cent needed to complete the deal.

Commenting on the Offer, Jacek Olczak, PMI’s Chief Executive Officer said the company had reached “an important milestone” in its acquisition by becoming the “unconditional” and “majority shareholder.”

“We are very excited about the critical role Vectura will play in our Beyond Nicotine strategy and look forward to working with Vectura’s scientists and providing them with the resources and expertise to grow their business to help us achieve our goal of generating at least $1 billion in net revenues from Beyond Nicotine products by 2025,” he added.

As part of today’s announcement Philip Morris encouraged the remaining shareholders to accept its offer which will remain in place until the end of the month.

The sale has caused controversy in the health industry with an open letter signed by 35 health charities, public health experts and doctors from around the world urging Vectura shareholders to reject the purchase offer last month.

This morning, Sarah Woolnough, the chief executive of Asthma UK and the British Lung Foundation commented on the sale, saying that Vectura has “sold out millions of people living with lung disease.” Woolnough previously stated that the deal would create perverse incentives for Philip Morris to sell additional cigarettes in order to profit from asthma treatments.

By accepting a takeover bid from big tobacco firm PMI, Vectura has sold out millions of people living with lung disease & chosen to prioritise short-term financial gain over people’s health. We have written to govt reminding them not to engage with Vectura on p/health policy ???????? https://t.co/o5Bd1HwE4E

— Sarah Woolnough (@swoolnough) September 16, 2021

Philip Morris has stated its committed to a smoke free future and has upped revenue from quit-smoking products to 28 per cent.

Read more: Philip Morris gets green light for £1bn Vectura takeover after bidding war

The post Tobacco firm Philip Morris secures £1bn takeover of inhaler maker Vectura appeared first on CityAM.

Categories: City of London

Rishi Sunak 'thrilled' by £300m DP World investment

DP World, a Dubai based supply chain logistics company, has announced it will expand a London port to increase supply chain resilience.

The £300m investment builds on the £2bn in funds that DP World has funnelled into Britain over the last decade and will add a fourth berth, a parking space for a ship, to the company’s London Gateway port.

Chancellor of the Exchequer, Rishi Sunak said: “Our new freeports will create national hubs of trade, innovation and commerce, and attract more investment to regenerate communities and level up the UK.”

“Bringing ports and business together to invest in their regions is crucial to the Freeports success story – that’s why I’m thrilled that DP World is investing £300 million to support Thames Freeport – creating new opportunities, boosting growth and supporting local jobs,” he added.

Mr Sunak will be guest of honour at today’s commercial launch of Thames Freeport, which is made up of the Port of Tilbury, Ford’s Dagenham plant and the DP World London Gateway. The development plans will increase capacity at the port by a third, helping London Gateway to cope with a 23 per cent increase in throughput on the previous best performance for the first half of a year. 

Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, said he was “delighted” to announce news of the expansion and hopes the company will “be at the heart of Britain’s trading future.”

News of the expansion comes as the world faces ongoing supply chain disruption as a result of the Covid-19 pandemic. Supply woes in the UK have been worsened by Brexit with the country’s largest supermarkets reporting food shortages.

Read more: Dubai Port owner DP World snaps up US logistics firm Syncreon for $1.2bn

The post Rishi Sunak 'thrilled' by £300m DP World investment appeared first on CityAM.

Categories: City of London

UK, US and Australia sign new defence pact to tackle China

The UK last night announced a new “landmark” security pact with the US and Australia in a move that’s been widely seen as an attempt to tackle China.

AUKUS, as the new partnership will be known, will initially focus on acquiring nuclear-powered submarines for Australia for the first time ever.

But the deal, the biggest partnership between the nations since the Second World War, will also cover artificial intelligence, cyber and quantum technologies.

It comes at a time when China is becoming more assertive in the Indo-Pacific region, with increasing concerns about disputes in the South China Sea.

In a joint statement Boris Johnson, along with US President Joe Biden and Australian PM Scott Morrison, said that the new alliance would “protect our shared values and promote security and prosperity”.

In response, China’s embassy in Washington hit back, accusing the new partners of having “Cold War mentality and ideological prejudice”. 

At the centre of the partnership is an agreement to help Australia procure and build eight new nuclear-powered submarines.

The three leaders were clear that the subs would not be equipped with nuclear weapons, but rather have nuclear-powered propulsion systems.

To this end, Canberra has torn up an existing AU$50bn (£27bn), 12 submarine deal it signed with France in 2016, much to the chagrin of Emmanuel Macron’s government.

“The American choice to push aside a European ally and partner like France from a structural partnership with Australia at a time we are facing unprecedented challenges in the Indo-Pacific region … shows a lack of coherence that France can only acknowledge and regret,” foreign minister Jean-Yves Le Drian and defense Minister Florence Parly said in a statement.

But Johnson said that Australia was a “natural partner” for the new enterprise.

“It is a momentous decision for any nation to acquire this formidable capability, and perhaps equally momentous for any other state to come to its aid.

“But Australia is one of our oldest friends, a kindred nation and a fellow democracy, and a natural partner in this great enterprise.”

The post UK, US and Australia sign new defence pact to tackle China appeared first on CityAM.

Categories: City of London

Dad of girl murdered by Stephen Leonard says review rebuff 'unfair'

BBC Camberidgeshire Feed - 9 hours 10 min ago
Jim Holt's daughter Lorraine was murdered in 1979 by a man who would try to kill again in 2018.
Categories: Cambridgeshire

BT to recruit 1,000 people at new Birmingham site

BBC Birmingham News Feeds - 9 hours 12 min ago
The company says it is committed to having more opportunities away from London.
Categories: Birmingham

18.6m UK adults trust financial advice shared on social media, study finds

Amid concerns about Kim Kardashian and so called FinTok influencers new research has found that 18.6m UK adults trust financial advice shared on social media platforms.

A survey conducted by Skipton Building Society revealed that just two in five respondents would not trust social media stars when it comes to financial management. Young people were more likely to place their faith in influencers with some 64 per cent of adults under 35, saying they would trust advice shared online and believe it was reliable. 

Helen McGinty, Head of Financial Advice Delivery at Skipton Building Society, urged caution stressing that while there are a lot of “well-informed voices and influencers” across social media, “when it comes to investment advice, content isn’t always a trustworthy as it appears, and it isn’t financially regulated.

“It’s vital to make sure that the advice you’re following is reliable and credible, especially when it comes to investing your own money,” she said.

The news comes after the FCA warned investors not to take advice from social media influencers including Kim Kardashian who was recently paid to promote a crypto currency to her 250m online followers.

TikTok recently introduced a stringent ban on financial services advice after influencers were found to be promoting crypto scams and pyramid schemes while dishing out dubious investment tips to their followers. 

Iona Bain, broadcaster and founder of the Young Money blog, said he was “increasingly worried” about the influence of social media on young people’s financial management.

“We urgently need proper financial education, better online regulation and more authoritative sources of information to cut through this internet jungle and ensure a whole generation doesn’t end up poorer and disillusioned about money,” he warned.

According to the Skipton survey 50 per cent of adults would prefer to take financial advice from someone they know, helping to explain why investors are willing to put their trust in celebrities. 

Respondents reportedly found female parenting and money management influencers the most trustworthy financial advisers online while male crypto investors came across as the least credible.

Read more: FCA chair urges investors not to take cryptocurrency advice from Kim Kardashian

The post 18.6m UK adults trust financial advice shared on social media, study finds appeared first on CityAM.

Categories: City of London

Would you use a hotel for house plants?

BBC London News Feed - 9 hours 38 min ago
A "hotel" catering exclusively for house plants has opened in London, as sales soared during the pandemic.

FA Cup: Anthony Johnson on why delaying the vaccine left him seriously ill in hospital

Merseyside BBC News Feed - 9 hours 46 min ago
After ending up in hospital with Covid-19 complications, joint Chester boss Anthony Johnson opens up on how "stupid" he was to delay getting vaccinated.
Categories: Merseyside

Build 250,000 homes for key workers, urges think tank

The government should ring fence land to build 50,000 homes each year for key workers on the frontline of dealing with the Covid crisis.

The Centre for Policy Studies (CPS) has called on the government to use land to build affordable homes for key workers to help them get on the property ladder.

Properties built on this land would offer a lower-cost path to homeownership by offering shared ownership and rent to buy schemes.

Building 50,000 homes each year for Brits who helped the country get through the worst of the Covid crisis would ensure the government hits their 250,000 housing supply target.

The initiative would invite private investors and local councils to work together to cover the costs of delivering affordable housing for key workers.

Alex Morton, head of policy at the CPS, said: “​​This financially sustainable model of new housing delivery can be done without any upfront cost to government while providing a sufficient return for investors and a reasonable price to house builders.”

The report, called Home for Heroes, lays out plans to improve access to housing for nurses, teachers and supermarket workers who have historically struggled to get on the property ladder.

The post Build 250,000 homes for key workers, urges think tank appeared first on CityAM.

Categories: City of London

Foreign students struggling to pay for UK university

BBC London News Feed - 14 hours 30 min ago
The pandemic has made studying in the UK more expensive for some international students

The 22-year-old who took on a housing giant and won

BBC London News Feed - 14 hours 35 min ago
As a new report claims dilapidated housing can kill, the BBC meets an unlikely champion for tenants.

Help: Channel 4 drama examines 'undervalued' care workers during pandemic

Merseyside BBC News Feed - 15 hours 4 min ago
A new Channel 4 film starring Jodie Comer and Stephen Graham is set in the early days of the pandemic.
Categories: Merseyside

Bristol City 1-1 Luton Town: Danny Hylton's injury-time goal earns draw for Hatters

Bristol BBC NewsFeed - Wed, 09/15/2021 - 22:04
Danny Hylton's injury-time goal earns Luton Town a draw away at Bristol City in the Championship.
Categories: Bristol

Bristol City 1-1 Luton Town: Danny Hylton's injury-time goal earns draw for Hatters

BBC Beds Bucks Herts - Wed, 09/15/2021 - 22:04
Danny Hylton's injury-time goal earns Luton Town a draw away at Bristol City in the Championship.

Birmingham City 1-4 Fulham: Cottagers beat Blues to return to the top of the Championship

BBC London News Feed - Wed, 09/15/2021 - 22:01
Fulham return to the top of the Championship by winning at Birmingham thanks to two-goal Aleksandar Mitrovic, Denis Odoi and Harry Wilson.

Birmingham City 1-4 Fulham: Cottagers beat Blues to return to the top of the Championship

BBC Birmingham News Feeds - Wed, 09/15/2021 - 22:01
Fulham return to the top of the Championship by winning at Birmingham thanks to two-goal Aleksandar Mitrovic, Denis Odoi and Harry Wilson.
Categories: Birmingham

Manchester City 6-3 RB Leipzig: Last season's runners-up off to flying start

BBC Manchester - Wed, 09/15/2021 - 21:38
Jack Grealish scores a wonderful goal on his Champions League debut as Manchester City put the pain of losing last season's final behind them to beat RB Leipzig.
Categories: Manchester