FCA

Just Eat to delist from London Stock Exchange

Just Eat has given a notice of intention to delist from the London Stock Exchange in order to reduce the administrative burden, complexity and costs associated with the disclosure and regulatory requirements of maintaining the LSE listing. It added that in the context of low liquidity and trading volumes of…

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Nightcap shareholders approve plan to go private in August

Bar operator Nightcap has announced that its shareholders approved its plans for the group to re-register as a private company with the name ‘Nightcap Limited’ on or around 15 August as its AGM. Meanwhile, pursuant to the passing of Resolution 1, the group’s cancellation of admission of the company’s ordinary…

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Hostmore to acquire TGI Fridays for £177m

Hostmore has reached an agreement for an all-share acquisition of TGI Fridays for £177m, including the business’ brand in the US which is the company’s franchisor.  The parties have agreed that the proposed transaction would result in existing Hostmore shareholders holding a 36% shareholding in the enlarged business upon completion,…

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Steven Kenee to leave Oakman Group

Oakman Group PLC has announced that Steven Kenee is to leave his role as chief investment officer at the firm. Kenee joined Oakman three years ago from Downing where he said he had “grown to admire the company” whilst managing Downing’s investment into the business. The group owns and operates…

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David Berkley QC: Interruption and insurance in the age of Covid

As we emerge from one of the most tumultuous periods in living memory, it perhaps comes as little surprise that insurance has been thrust into the spotlight. The unprecedented impact of the pandemic has brought a renewed focus to the issue of business security and, more specifically, business interruption coverage. …

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Supreme Court sides with small firms in business interruption insurance case

The Supreme Court has delivered its judgment in the Financial Conduct Authority’s (FCA)’s business interruption insurance test case, with the court’s ruling in the favour of small firms potentially forcing insurers to pay out £1.2bn in CBI claims.  Following the judgement, thousands of policyholders will now have their claims for…

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How to navigate the confusing ordering and payment app landscape

The hospitality industry has not always adopted technology as quickly as it might. After all, going to the pub is about meeting people and having personal experiences. It’s a chance to have fun, receive great service, get to know the bar staff, be wowed by the perfect serve or savour…

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Hospitality trade bodies welcome FCA action

Leading hospitality bodies across the UK have issued a joint statement that “strongly” welcomes action the FCA has taken against insurers.  It comes as the FCA yesterday (1 June) announced that eight leading insurers would be called upon to join a test case in the commercial court in order to…

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Hospitality welcomes FCA review into business interruption insurance issue

The consortium which launched a crowdfunding campaign to support those refused help with their business interruption insurance policies, has welcomed the announcement by the FCA that it intends to seek legal clarity to help businesses who are facing uncertainty on their claims. Headed by Rob Atkinson, an in-house lawyer for…

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BT’s boss catches it, markets rebounding, pain medication prices spike

Today I am going to rattle through a wider selection of stories than normal because the spread of the virus is hitting so many sectors hard, with key figures in the business community affected. The markets are recovering some of their losses this morning after having their worst selloff since…

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