Money Buzz! Europa

Tag: london

  • Cazoo acquires Cluno, a German car subscription service

    Cazoo acquires Cluno, a German car subscription service

    Cazoo acquired Cluno, Germany’s leading consumer car subscription platform, for an undisclosed sum.

    Founded in 2017, Cluno offers a flexible and hassle-free alternative to car ownership, offering a choice of up to 100 makes and models.

    This ia available with a single monthly subscription fee which includes the car, maintenance, service, warranty, tax and insurance.

    The deal will enable Cazoo to launch its full proposition in Germany and across Europe giving customers the option of purchasing, financing or subscribing to thousands of cars on the platform.

    Cazoo, already one of the fastest growing businesses in Europe, plans to launch its UK subscription service in the coming months.

  • AstraZeneca profit at $ 3.2 billion last year, more than double compared to 2019

    AstraZeneca profit at $ 3.2 billion last year, more than double compared to 2019

    AstraZeneca’s sales rose 9 percent to $ 26.6 billion, thanks to new drugs and strong demand for anti-virus products such as asthma.

    This increase offset the decline in revenue generated by other products, in which the distribution to patients was slowed by the pandemic, especially in oncology, due to the postponement of treatments to give priority to those against coronavirus.

    In 2020, a year marked by a coronavirus pandemic, the British group has developed a vaccine along Oxford University.

    In December, AstraZeneca received emergency approval to begin distributing its Covid-19 vaccine in the UK, followed by India, Argentina, Mexico, Morocco and the European Medicines Agency.

    Also, the group has started the third phase of testing for an antibody-based drug against Covid-19.

    AstraZeneca is committed to provide 170 million doses of vaccine in 190 countries around the globe.

  • Online fashion retailer Boohoo acquires the Debenhams brand and website

    Online fashion retailer Boohoo acquires the Debenhams brand and website

    Online fashion retailer Boohoo has acquired the Debenhams brand and website for £ 55 million ($ 75 million), but will not take over the retailer 118 stores or the workforce, BBC reports.

    Thus, it is possible that almost 12,000 employees of the Debenhams chain of stores to be laid off.

    Boohoo has already bought several brands, Oasis, Coast and Karen Millen, but without the associated stores.

    In December, Debenhams went into liquidation, after the failure of negotiations with JD Sports, after the coronavirus pandemic (Covid-19) significantly affected the retail sector.

    The sale of the 124 Debenhams stores began in December, with administrators continuing to look for deals for the entire business, but also for certain parts.

    Recently, the company announced that six units will not be reopened, including the famous store on Oxford Street in London.

  • Dabo Doner opens the first Romanian fast-food restaurant in London

    Dabo Doner opens the first Romanian fast-food restaurant in London

    The Dabo Doner franchise, owned by Dan Paştiu, opened the first Romanian fast-food restaurant in London, right next to Wembley Stadium.

    The Dabo Romania menu is taken over in full in the restaurant opened in London, the only difference being the replacement of beef with mutton.

    The use of this ingredient aims to adapt more easily to the demand of the London market, where a large amount of halal food is also consumed.

    In terms of investment, the restaurant opened in London is valued at over 150,000 euros.

    Dabo Doner aims to open 5 more restaurants in London this year and 40 restaurants across England in the next 3 years.

  • UK mortgage approvals up by 50% in last 12 months, highest in over a decade

    UK mortgage approvals up by 50% in last 12 months, highest in over a decade

    Data presented by Buy Shares indicates that the UK mortgage approvals have grown by 50.97%. The growth is on a year-over-year basis between October 2019 and October 2020.

    As of October, the number of approvals stood at 97,530 while a year ago, the figure was 64,600. During the last 12 months, the lowest approvals were recorded in May this year at 9,270.

    A historical view of the approvals shows that October approvals are the highest in about 13 years.

    In September 2007, the mortgage approvals stood at 108,000. The approvals later slumped significantly to 27,000 in January 2009 in the wake of the economic crisis.

    The Buy Shares report attributed the recent surge in approvals to government measures like suspending the stamp duty as well as a change in consumer behavior.

  • Ferrero Group, definitive agreement to acquire Eat Natural

    Ferrero Group, definitive agreement to acquire Eat Natural

    The Ferrero Group announced a definitive agreement pursuant to which it will acquire Eat Natural, the maker of high-quality cereal bars, toasted muesli and granola.

    The Ferrero Group plans to maintain and further build Eat Natural’s brand authenticity, while supporting the company with distribution and expansion to new markets and category segments opportunities.

    As part of the transaction, The Ferrero Group will take over the production facilities in Halstead, UK, and plans to retain the management and the employees of the businesses. 

    The transaction, subject to customary closing conditions and regulatory approvals, is expected to close in in the next months.

  • Cambridge Quantum Computing completes $45 million financing

    Cambridge Quantum Computing completes $45 million financing

    Cambridge Quantum Computing has completed a $45 million financing from investors including Honeywell Ventures, IBM Ventures, JSR Corporation, Serendipity Capital, Alvarium Investments and Talipot Holdings.

    In 2020, CQC launched enterprise-level software products in the areas of cybersecurity and quantum chemistry, as well as adding to its growing roster of Fortune Global 500 customers and partners from the USA., Europe and Asia.

    ”As quantum hardware continues to advance and scale, enterprise customers across a variety of sectors are starting to appreciate just how significantly quantum computing will impact on their operations, and we have started to see the benefits of our product-first focus,” said Ilyas Khan, CEO of Cambridge Quantum Computing.

  • Brits are spending £64 million more on pets than partners for Christmas

    Brits are spending £64 million more on pets than partners for Christmas

    In 2019, it was reported that more than £6.5 billion was spent on pet related products in the UK, and data from OnBuy suggests that more than £2 billion of that would have been Christmas related gifts.

    OnBuy’s survey revealed that 74% of pet owners wrap up their presents for their furry family members to open up on Christmas day.

    Toys seem to be the most popular of gifted presents bought for pets, with 53% spending most of their pet present budget on toys.

    This was followed closely by treats (42%). Collars were the least popular presents for Brits to purchase for their pets at just 3%.

    Brits to spend more on their pets than their partners

    OnBuy calculated that Brits are set to spend more than 64 million pounds on their pets than their partners.

    In 2019 27% of Brits spent an average of £75 on their partners for the festive period. For 2020, that number has dropped to 24% of Brits intending to spend that amount on their partners.

    It seems Brits are more willing to spend £75 on partners than pets, as only 14% of Brits intend to spend that same amount on their pets.

    In 2019, 13% of Brits reported that they spent more than £100 on their partners. For 2020, the figure has dropped to just 9% planning to spend more than £100.

    However, in 2019, only 5% of Brits were reported to have spent £100 or more on their pets. For 2020, 11% of Brits intend to spend £100 or more on their family pets.

  • Shanghai overtaken London and is the world’s most connected city

    Shanghai overtaken London and is the world’s most connected city

    Shanghai has overtaken London, becoming the world’s most connected city in the air transport field, after the coronavirus pandemic (COVID-19) significantly affected international travel.

    London saw a 67% drop in air transport connectivity, while Chinese cities expanded their connectivity.

    Thus, in the ranking of the most connected cities in the world, the first four places are occupied by Shanghai, Beijing, Guangzhou and Chengdu in China, according to IATA.

    Major air hubs, including London, New York and Tokyo, have been hit hard by reduced travel to and from their cities due to pandemic flight restrictions.

    IATA says that ”the pandemic has canceled a century of progress” in the field of connectivity between cities.

    International Air Transport Association estimates that 46 million jobs supported by air transport are in danger.

    The number of passengers carried by airlines will decrease to 1.8 billion this year, from 4.5 billion in 2019, and will partially recover next year to 2.8 billion.

    The turnover of the airlines will decrease by over 60%, in 2020, compared to 2019, up to 328 billion dollars.

  • Kingfisher acquired NeedHelp for a total cash consideration of c.€10 million

    Kingfisher acquired NeedHelp for a total cash consideration of c.€10 million

    Kingfisher acquired NeedHelp, one of Europe’s leading home improvement services marketplaces, for a total cash consideration of c.€10 million.

    As part of the transaction, Guillaume de Kergariou, the founder of NeedHelp, has reinvested proceeds from the sale in a 20% interest in the business, resulting in Kingfisher owning 80%.

    NeedHelp is an B2B2C online platform that connects customers who need home improvement help, either in-store or online, with vetted professional tradespeople and other skilled experts.

    While most of its business is currently in France, NeedHelp also operates in Switzerland and has recently expanded into Germany, Belgium, Austria, and the Netherlands.

    Through its open architecture, NeedHelp already provides its services to customers in more than 500 stores including Kingfisher’s French businesses, Castorama and Brico Dépôt.

    Along with developing NeedHelp’s business in Europe with existing and new retail partners, Kingfisher also plans to roll out the platform in the UK and Poland. In the UK,

  • British Airways is selling thousands of items from aircraft cabins

    British Airways is selling thousands of items from aircraft cabins

    British Airways began selling thousands of items in the inventory, from drink carts and crockery for business class passengers to slippers and towels, BBC reports.

    Carolina Martinoli, brand director at British Airways, says this is the first time the airline has organized such a sale.

    Changing the aircrafts mix of its fleet and cabin services, plus the possibility of British Airways operating at low levels until air traffic returns, means that its depots are full of items that will never be used.

    The decision comes months after the company auctioned off some of the artwork in its offices, including a work by Bridget Riley worth more than £ 1 million.

  • UK consumer spending to fall by nearly £200 billion in 2020

    UK consumer spending to fall by nearly £200 billion in 2020

    Total UK consumer spending is expected to fall by a staggering £183.6 billion (14.9%) this year due to the COVID-19-induced lock downs, according to new research from Mintel.

    This equates to a drop in spending of around £6,600 per household – with the biggest decreases occurring in the transport, foodservice, and holiday industries.

    Consumer spending in these three categories will fall by an astonishing £140.1 billion in total, or just over £5,000 per household – representing around 77% of the overall decline in consumer spending this year.

    Three categories are expected to bounce back in 2021: spending on transport will increase by £32.3 billion compared to 2020, foodservice will rise by £17.7 billion, and holidays by £19.2 billion.

    This represents an increase in spending of just under £2,500 per household; however, this will still only represent a return to pre-pandemic levels.