Historic retailer could agree deal with internet firm this week, but high street stores are likely to closeInternet fashion retailer Boohoo has reportedly agreed to buy the online business of Debenhams, in a move which will see the department store chain close its remaining high street shops, according to sources close to the deal.The transaction may be announced this week, according to the Financial Times. The newspaper said it understands the purchase price is likely to be around 50m. Continue reading...
Kristalina Georgieva says investing to create resilient economies is a win-win-win-win scenarioHelping the most vulnerable people to cope with the climate crisis can boost the global economy during the Covid crisis and governments should make this a priority, the head of the International Monetary Fund has said.Kristalina Georgieva said international responses to the pandemic must urgently take account of the need to adapt to the impacts of extreme weather and other climate shocks, as well as reducing greenhouse gas emissions. Continue reading...
UK footwear brand expected to launch market listing on Monday, with CEO in line for stake worth 58m The British footwear brand Dr Martens is expected to launch a stock market flotation on Monday that would value the Northamptonshire firm at 3.5bn and generate a huge windfall for its bosses and backers.The company, known for its boots with chunky air-cushioned soles and distinctive yellow stitching, was owned until 2013 by the Griggs family, who sold to the private equity investment group Permira for 300m but retained a near-10% stake. Just seven years later the business has soared in value and when it lands on the stock market will create numerous multimillionaires. Continue reading...
Electric car maker was $6 a share when Scottish Mortgage Investment Trust started buying, now its $846 Elon Musk has made so much money from Tesla that he is now the richest person on the planet. However, the second-biggest winners are investors in an Edinburgh-based investment fund that began backing Musks electric car company in 2013.Scottish Mortgage Investment Trusts investments in Tesla have made an extraordinary $29bn (21bn) for investors including pension funds, foundations and charities, according to figures released to the Guardian. Continue reading...
