Financial news

• Ladbrokes owner close to agreeing $200m deal with MGM Resorts

  29-07-2018 15:45 via theguardian.com
  GVC Holdings in talks over joint venture to gain access to US sports betting marketThe UK owner of bookmakers Ladbrokes and Coral is likely to seal a $200m (£153m) tie-up with the world’s biggest casino operator this week, to catapult it into the lucrative, newly liberalised US sports betting market.
  The FTSE-listed gambling group GVC Holdings confirmed on Sunday it was in advanced talks to form a joint venture with MGM Resorts, giving both partners a foothold in what is forecast to
  
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• Fate of new Moorside nuclear power station in Cumbria in doubt

  29-07-2018 14:41 via theguardian.com
  Delay in sale of consortium behind plant leads Toshiba to lay off 100 UK project staffDoubts have been raised over the fate of a new nuclear power station planned for Cumbria after it emerged that most of the project’s 100 UK staff had been laid off.Toshiba has been trying to sell the NuGeneration consortium behind the Moorside plant since it had to write off billions of dollars because of problems with its US nuclear business last year. Continue reading...
  
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• Discount grocer Lidl plans to build 3,000 homes and a school

  29-07-2018 14:21 via theguardian.com
  Property development is latest tactic in bid to gain planning permission for new storesLidl is planning to lead the development of more than 3,000 homes and a primary school in the discount supermarket’s latest tactic to secure planning permission for a flurry of new stores around London.The German retailer has toyed with developments involving housing since 2008, but has so far built just 335 homes. It now wants to increase its involvement in mixed-use schemes to include offices, hotels,
  
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• Most capital cities are well off, but London is like another country | Larry Elliott

  29-07-2018 12:21 via theguardian.com
  Incomes in inner London are five times as high as in the Welsh valleys or CornwallAll countries have their regional differences. States in the American Deep South are poorer than those in New England. In Germany, Bavaria is richer than Brandenburg. The struggling parts of Italy are south of Rome.But Britain is in a class of its own. The gap between the richest and poorest parts is wider than in any EU country. Incomes per head in inner London are five times as high as in the Welsh valleys or Cor
  
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• Brexit provides the perfect ingredients for a national food crisis

  29-07-2018 11:00 via theguardian.com
  When it comes to the UK’s supply chain, preparations for a no-deal scenario are non-existentIn 1941, the refrigeration company William Douglas and Sons completed work on a brick-and-steel-frame cold store for meat and fish, on a site at Goldsborough in North Yorkshire. Although the building was demolished a couple of years ago, Theresa May and her newly appointed Brexit secretary, Dominic Raab, might still like to have a look at the site, to get a sense of what the central management of a
  
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• Is outsourcing still bad news? Is seems to be for Capita

  29-07-2018 08:00 via theguardian.com
  The company is hoping to reassure investors about its turnaround plan this week, but fresh rows have blown up about its NHS and MoD dealsFor a business already struggling to improve its image, having one of your major projects described by MPs as a “shambles” is not the best advertisement.But for bosses at Capita – the company behind the London congestion charge, running the teachers’ pension scheme and collecting the BBC licence fee – it’s just the latest in
  
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• Facebook’s results suggest it is short of new users and goodwill

  29-07-2018 08:00 via theguardian.com
  As more of the world logs on, the company is nearing saturation: so now it is spending on rebuilding its reputationWhat’s bad for Facebook’s market cap might be good for society. That, at least, is what the company would like investors to take away from its disastrous second-quarter results, which triggered a fall in its stock-market valuation of almost $120bn (£92bn), the largest single loss of value in Wall Street history.At its core, the collapse is due to three negative tre
  
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• If our leaders won’t lead, we must vote again on Brexit

  29-07-2018 07:59 via theguardian.com
  It would be better that MPs spoke up about the folly of leaving. But if none of them will, a second referendum is requiredI recently met several people who said they were beginning to feel sorry for Theresa May. Well, up to a point, I should have thought. She apparently wanted to be prime minister from an early age, and is now a victim of what her predecessor from the late 1950s and early 1960s, Harold Macmillan, referred to as “events”.Macmillan’s celebrated remark about &ldqu
  
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• Give Britain’s young homebuyers state loans for deposits, urges report

  29-07-2018 01:05
  Government should help millions get on the housing ladderYoung people struggling to buy their first home should be offered loans by the government to help them pay the deposit, according to a new report which warns that reduced home ownership and the recent surge in private renting is damaging family life.The idea has been put forward by the Housing and Finance Institute (HFI) as one of several initiatives it believes necessary to increase the number of homeowners by one million by 2035. As with
  
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