Bets are off as MGM folds in £8bn pursuit of Ladbrokes owner
Investors abandon owner of Ladbrokes, Coral and Gala after Las Vegas giant decides not to raise its offer in wake of board s rejection
19 January 2021 • 5:32pm
Las Vegas casino firm MGM Resorts has abandoned its £8bn bid to buy Ladbrokes and Coral owner Entain after failing to win the support of investors.
The shock departure of Entain chief executive Shay Segev last week is also believed to have played a role in MGM’s decision to walk away.
Entain shares plunged 15pc, slashing gains won on the expectation that the Las Vegas casino operator would sweeten an offer made at the start of the month.
UK entrepreneurs find a safe haven in China despite political tensions
The country is still Britain’s third-largest export market, worth £25bn and rising
17 January 2021 • 5:59pm
New markets: Simon Boyd, sales director of British beauty firm Cyden, takes part in a livestream with Chinese influencer Viya
Within a month of setting up Hawkins & Brimble, founder Stephen Shortt was flying out to China in order to tout his men’s grooming range.
“We’ve been export-centric from the beginning,” says the entrepreneur, 49, who launched the business five years ago.
“We were in Shanghai, Beijing for about two weeks meeting anybody who would see us, some big companies as well – like Hutchison Whampoa. We were surprised by how welcome we were. There’s a real appetite for British products.”
The high street is dead, long live the high street
We need to call time on the polarising debate between online and offline retail
14 January 2021 • 6:00am
The past year has been beset with chaos and confusion. That also applies to many headlines. Over the last 12 months, we’ve seen everything from the wild to the wonderful. And this week again people are predicting the “death of the high street”.
Let’s start with the indisputable. It’s obvious that many high street institutions have suffered. Footfall across retail has fallen off a cliff, down almost two-thirds, year-on-year, according to this week’s data from Springboard. And this will no doubt worsen as the UK endures its third national lockdown.