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Acquisition of property services firm Strutt & Parker will triple revenue and staff in Britain of banking group’s real estate arm
The real estate arm of the banking giant BNP Paribas is to acquire a UK property services group in a deal that will triple its revenue and the number of staff it has in the country covering the business.
The deal to merge the UK subsidiary of BNP Paribas Real Estate with Strutt & Parker, founded in London in 1885, will be completed in September. It comes even after global banks have said they could move thousands of jobs out of Britain to prepare for Brexit.
Continue reading...Tycoon to stay on as chairman after selling 31% stake to Air France-KLM in deal worth £220m
The potential end of an era looms in British aviation after Sir Richard Branson announced he is selling 31% of Virgin Atlantic, relinquishing his controlling interest in the airline he founded in 1984.
Branson will net £220m from the deal to sell the 31% stake to Air France-KLM and remain as chairman of the airline. He retains a 20% interest, leaving the US giant Delta as the largest shareholder in Virgin Atlantic with 49%.
Related: French-Dutch culture clash revealed in leaked Air France-KLM report
Continue reading...President Emmanuel Macron orders ‘temporary’ state control of SFX France to save jobs and preserve only shipyard capable of building aircraft carriers
France is set to nationalise its biggest shipyard at St-Nazaire rather than allow it to pass into Italian ownership.
The nationalisation, which is expected to be confirmed on Thursday afternoon, will mark President Emmanuel Macron’s first major industrial policy intervention, and appears a far cry from the former banker’s usual philosophy.
Related: Pound hits 10-month high against dollar after Fed caution – business live
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