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Budget 2021:

£520m for 'MBA-style training' for small business owners

Tens of thousands of UK firms to be offered management training to increase innovation & boost growth

Vaccine data 'so good' that it points to lockdown ending earlier, Sage adviser says

Credit: Parliament Live TV

Latest stories

  • Greensill Nears Sale to Apollo-Backed Athene as Fund Freezes

    (Bloomberg) -- Greensill Capital is moving closer to a deal to sell its operating business to Athene Holding Ltd. after a swift crisis of confidence in Lex Greensill’s startup lender forced it to seek a sale to avoid collapse.The deal talks are progressing between Greensill and the combination of Athene and Apollo Global Management Inc., according to people familiar with the matter. Athene is a Bermuda-based annuity seller that’s part-owned by Apollo.Greensill has entered a “period of exclusivity with a leading global financial institution with a view to concluding a transaction with them this week,” the firm said in a statement Tuesday. Any deal is expected to include “large parts of Greensill’s business and its assets under management,” the company said.Earlier Tuesday, GAM Holding AG said it will start winding down a fund that invests in loans sourced by Greensill. That came a day after Credit Suisse Group AG froze a group of supply-chain-finance funds that it ran with help from the Australian financier, citing “considerable uncertainty” about the valuations of some of the holdings.The freezes on about $11 billion worth of funds deprived Greensill of large buyers for his assets at the same time as regulators in Germany are putting pressure on his bank to diversify its holdings.Apollo and Athene may provide funding for loans as part of any deal, and may look to exclude any assets they deem too risky, one of the people said.A spokesperson for New York-based Apollo declined to comment.“While the structure of the new business is still being determined, we expect the transaction will ensure the majority of Greensill clients will continue to be funded in the same way as they currently are while also preserving a substantial number of jobs,” Greensill said in the statement.SoftBank Group Corp.’s Vision Fund had already substantially written down its $1.5 billion holding in Greensill, and was considering dropping the valuation to close to zero, people familiar with the matter said Monday. The writedown occurred at the end of last year, said one person.The unraveling caps three tumultuous years at the firm founded by the 44-year-old financier. Greensill-linked financings also played a role in the demise of a former star bond manager at GAM in 2018.Lex Greensill rose from working on his family’s melon and sugar cane farm in Australia. His interest in the supply-chain business was fueled early on in his life, when as a teenager, a bad harvest season meant his parents weren’t paid for the crops that they grew. Greensill later built a business at Morgan Stanley in London financing corporate supply chains, and then worked at Citigroup Inc. before starting his own company in 2011.This week marks a stark fall for Greensill the firm, which in October had been considering a capital raising that would have valued it at $7 billion. At the time, the firm said that the fundraising would help boost growth. Still, controversy has followed the fast-growing firm for several years.Read more: Greensill Bank Looks to Raise Cash, Cut Risk to Sanjeev GuptaGerman financial regulator BaFin has appointed a special representative to oversee day-to-day operations of Greensill Bank, according to a person familiar with the matter. It could impose a freeze on payments in and out of the bank, said the person.BaFin has been pressuring the bank to reduce the concentration of assets linked to U.K. industrialist Sanjeev Gupta, Bloomberg reported in August. The bank has been seeking to raise money and cut its exposure to companies linked to Gupta, people familiar with the matter have said.(Updates with Lex Greensill bio, regulator actions starting in 10th paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Khamzat Chimaev says he’s done; Chechen leader and Dana White say he’s not retiring

    In the space of 24 hours, rising UFC star Khamzat Chimaev indicated that he was done fighting, but then was talked into continuing on by controversial Chechen leader Ramzan Kadyrov. UFC president Dana White also backed that sentiment, telling MMA Junkie that Chimaev "ain't quitting." Chimaev's UFC career was off to a brilliant start in 2020. The Chechen fighter rattled off three consecutive victories in three months. He was then slated to face highly ranked welterweight Leon Edwards, a massive opportunity. That fight fell apart because Edwards and then Chimaev tested positive for COVID-19. The UFC attempted to reschedule it at least twice, but was thwarted on both occasions because of Chimaev's ongoing health struggles in his recovery from COVID-19. On Monday, he appeared to have decided he was done trying to return to the Octagon. He wrote on Instagram, "I want to say thank you to everyone for their support in my path in this sport. I think I’m done. Yes, I know that I didn’t take the belt, but this is not the most important victory in this life. It may upset you, but my heart and body tell me everything." That appeared to be the end of it. Then, on Tuesday, Kadyrov posted a message via the Visit Chechnya Instagram account, in which he said that he talked Chimaev out of retiring. He urged the fighter to continue on. "Friends, you've probably already heard the news about Khamzat Chimaev, who announced his departure from the UFC in his account. Not believing my eyes, I called and talked to Chimaev," Kadyrov wrote. "Khamzat said that recovery from illness is slow, and in an attempt to be honest and frank with the fans, he decided not to give them hope. I told him that ALL the Chechen people were upset by this news. I reminded Chimaev that all our young people, whom he inspires, are pinning great hopes on his victory, but what can I say - MILLIONS OF FANS IN RUSSIA AND THE WORLD! And if fans need to wait for his return, then we will all look forward to his entry into the octagon with trepidation and patience. "During our conversation, Chimaev realized how important his career is for every Chechen and promised to make every effort to recover as soon as possible. In the near future, he will fly to the republic, where he will complete a rehabilitation course, hold a training camp and start training.And this means that Khamzat does not leave, HE REMAINS AND WILL BEAT TO THE END! "The heart and body whispered 'everything!' That is how Khamzat wrote on Instagram. But the Chechen SPIRIT and the will to win shout to him 'Forward!' Therefore, I know for sure that Khamzat will take the UFC belt and prove that he is the best of the best!" Chimaev has yet to comment since he and Kadyrov's posts went public. UFC president Dana White, however, told MMA Junkie, “When (Chimaev) got (to UFC headquarters in Las Vegas), the doctors took care of him, and they put him on prednisone, which is a nasty f---ing steroid. So he’s on prednisone, and he’s supposed to be taking this thing and chilling, relaxing, and letting himself recover. He went in and f---ing trained today, felt like s--t, and got super emotional and posted (his retirement). “He’s not supposed to be training, but you know, this guy’s a savage. He wants to fight like every f---ing weekend, and now he can’t even train, so he just got emotional and posted that, but he ain’t quitting.” Chimaev was most recently scheduled to fight Edwards on March 13. When he wasn't physically able to train for the bout, Edwards was re-booked opposite Belal Muhammad for the same date. It is unclear how soon Chimaev might be able to return to the Octagon. TRENDING > Zhang Weili expected to defend belt against Rose Namajunas at UFC 261 Dana White praises Khamzat Chimaev: "I've never seen anything like this in my life" (Subscribe to MMAWeekly.com on YouTube)

  • Netflix Strikes $15M North America & Lat Am Deal For Colin Firth WWII Movie ‘Operation Mincemeat’ — EFM

    EXCLUSIVE: Netflix has struck a big deal for Colin Firth WWII movie Operation Mincemeat, we can reveal. The streamer has pre-bought North America and Latin America rights for around $15M from The King’s Speech producer See-Saw and Cohen Media Group after seeing footage in recent days. Shakespeare In Love and The Best Exotic Marigold Hotel […]

  • Terry Francona responds to new Mickey Callaway allegations: 'Nobody's ever deliberately covered up'

    Terry Francona's son Nick put out a statement distancing himself from his father.

  • MCAP Acquisition Corporation Announces Closing of $316,250,000 Initial Public Offering

    MCAP Acquisition Corporation ("the Company" or "MCAP"), a special purpose acquisition company sponsored by an affiliate of Monroe Capital LLC, today announced the closing of its initial public offering of 31,625,000 units, which included the full exercise of the underwriter’s over-allotment option. The offering was priced at $10.00 per unit, generating gross proceeds of $316,250,000. Each unit consists of one share of Class A common stock and one-third of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. The Company’s units are listed on the Nasdaq Stock Market and trade under the symbol "MACQU." Once the securities comprising the units begin separate trading, the Company expects that its Class A common stock and warrants will be listed on the Nasdaq Stock Market and trade under the symbols "MACQ" and "MACQW," respectively.

  • Why MP Materials Stock Popped Again Tuesday

    For the second day running, shares of MP Materials (NYSE: MP), a miner of rare earth elements and the company that was once-upon-a-time known as Molycorp, are marching higher. The reason has to do with Morgan Stanley. Yesterday, MP stock got its boost from Reuters, which ran a story highlighting how prices of rare earth elements (also known as rare earth metals) are shooting higher on strong demand for their use in manufacturing electric vehicles.

  • AAFMAA Mortgage Services LLC Partners with NAIBRS to Advance Homeownership

    AAFMAA Mortgage Services LLC Partners with NAIBRS to Advance Homeownership

  • Nick Jonas exits lead role in new action movie The Blacksmith

    The John Wick-style actioner is looking to recast the role.

  • Peacock Orders New Bill Nye Series ‘The End Is Nye’ Examining Earthly Threats

    Bill Nye will host and exec-produce a new science series called The End is Nye for Peacock, the streamer announced today. Brannon Braga (Cosmos: Possible Worlds, Star Trek) will serve as showrunner and executive producer and direct all episodes. Nye, the Emmy-winning television host (Bill Nye the Science Guy), science educator, mechanical engineer and author, […]

  • Oil Sinks Toward $60 Before OPEC+ Meets to Decide on Supplies

    (Bloomberg) -- Oil declined with the OPEC+ alliance said to be set to agree to a production increase later this week.Futures in New York slid below $60 a barrel on Tuesday after flipping between gains and losses earlier in the session. The widespread view among the group is that the market can absorb additional barrels, according to people familiar with the matter. That could put the alliance on track to implement the majority of the 1.5 million barrel-a-day output increase that’s up for debate on Thursday.See also: OPEC+ Is Poised to Cool Down Oil Market With Extra ProductionCrude started off the year strong with support from a range of factors, including Saudi Arabia’s unilateral output cuts. The rollout of vaccines and an investor charge into commodities have also underpinned the gains. Even if OPEC and its allies restore 2.4 million barrels a day of crude output by June, global oil inventories are set to decline each month this year, according to an OPEC+ panel. India has reiterated a call for the group to increase its production from April.“Consensus is that some oil is going to be added back to the market,” said Peter McNally, global head for industrials, materials and energy at Third Bridge. Still, “the Saudis have shown an ability to react to short-term fluctations in the market like they did at the start of the year,” easing concerns of oversupply.The Organization of Petroleum Exporting Countries and its allies must decide how much output is to be restored, with current reductions totaling just over 7 million barrels a day. The group is the largest actor in the oil market, with collective production covering more than 40% of worldwide demand.Meanwhile, oil shipments from OPEC’s Persian Gulf producers edged higher last month, despite the Saudi cut. Increased shipments from Kuwait and Iraq more than offset lower flows from the UAE and Saudi Arabia, vessel-tracking data monitored by Bloomberg show.In the U.S., oil inventories are expected to have declined last week, according to a Bloomberg survey. The industry-funded American Petroleum Institute will report its storage figures later Tuesday ahead of a U.S. government report on Wednesday.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Exclusive: Hollyoaks stars Billy Price and Kieron Richardson react to Sid Sumner cliffhanger

    Is it the end?

  • Hollyoaks' Sid Sumner in horrific stabbing scenes

    His plan to expose Victor goes terribly wrong.

  • Gordon Elliott and Rob James await judgments on dead horse incidents

    Gordon Elliott and Rob James await judgments on dead horse incidentsIrish regulators’ Referrals Committee to discuss Elliott on FridayAmateur jockey James apologises for ‘disrespectful’ video Gordon Elliott said a photograph showing him sitting on a dead horse was ‘a moment of madness’. Photograph: Simon Cooper/PA

  • Listeria Concern Causes Nationwide Recall of Party Platters, Taco Dip and More

    The potential contamination came from a utensil that was used in production

  • HIV researchers find rare group of ‘elite controllers’ who could be a key to unlocking new treatments

    HIV researchers believe a number of ‘elite controllers’ in the Democratic Republic of the Congo (DRC) could be critical in finding new ways to treat the virus.

  • France, allies to lodge complaint at UN nuclear watchdog over Iran's activities

    France and its Western partners plan to go ahead with a protest in the coming days at the UN nuclear watchdog's board to criticise Iran's decision to curb cooperation with the agency, its foreign minister said on Tuesday. "The nuclear tensions will lead us in the coming days to lodge a complaint in the framework of the IAEA Board of Governors to regret this decision," Jean-Yves Le Drian told a parliamentary hearing.Iran said last month it was scaling back cooperation with the International Atomic Energy Agency, ending extra inspection and monitoring measures introduced by the 2015 nuclear deal, including the power given to the IAEA to carry out snap inspections at facilities not declared by Iran.Britain, France and Germany, all parties to the deal with Iran, on Monday circulated a draft resolution backed by the United States for the Vienna meeting voicing "serious concern" at Iran's reduced cooperation and urging Iran to reverse its steps.Russia and Iran have warned of serious consequences if the resolution passes."I have to give this warning, that actions against our expectations will have adverse effects on diplomatic processes, and can quickly close the windows of opportunity," Iran's government spokesman Ali Rabiei told reporters.Iran expects "all parties to act rationally and prudently, and to know the value of fleeting moments," he added. "We are still committed to diplomacy."A document circulated by the Iranian mission in Vienna and seen by AFP said a resolution would effectively end a temporary agreement to mitigate the impact of the suspended inspections.Restrictions on inspections went into force on February 23.These followed a law passed by the Iranian parliament in December that called for suspending certain commitments if the US does not lift unilateral sanctions or the three European countries do not help Tehran to bypass those sanctions.Under the agreement with the IAEA, that runs for up to three months, data from cameras on Iran's nuclear programme will be stored and not handed over to the agency, and if sanctions are not lifted by that time, Tehran will start erasing the recordings.According to Rabiei, the agreement conveyed Iran's "goodwill", and now the Islamic republic expects other parties to the nuclear deal to "prove" theirs.Diplomatic sources in Vienna say the European resolution is expected to face a vote on Friday, and that it is backed by the United States.>> American air strikes in Syria: Joe Biden's firm but cautious message to IranThe 2015 landmark nuclear deal has been hanging by a thread since former US president Donald Trump withdrew Washington from it and reimposed punishing sanctions on Iran in 2018.Current US President Joe Biden has signalled his readiness to revive the deal, but insists Iran first return to all its nuclear commitments, most of which it suspended in response to the sanctions.Tehran demands Washington take the first step by scrapping the sanctions.Iran on Sunday dismissed a European offer for an informal meeting involving the US on the deal, saying the time is not right as Washington has failed to lift sanctions.(FRANCE 24 with AFP and REUTERS)

  • Smoke Billows From Fire at Business Center in Turin, Italy

    A fire burned on the top floor of a business center in Turin, Italy, on March 2, following an explosion heard by employees, according to local news reports.Footage shared by Luca Vedelago shows smoke rising from the fire, which could be seen from miles away, local media reported.Three teams of firefighters arrived to the scene, previously a Fiat engineering building, which now serves as a multifunctional center that hosts events, La Repubblica said. Credit: Luca Vedelago via Storyful

  • We mustn’t grumble about the cost of Carrie Symonds’ exquisite tastes – no one likes to look cheap, after all

    There are stories that the prime minister is going to set up a charitable foundation to pay for his fiancee’s alleged six figure refurb of the Downing Street flat – but you’ll have to wait five months to find out if they’re true

  • Rocket Companies shares soar more than 70%, hurting short sellers

    Some fuel for the company’s recent gains may be coming from a short squeeze, where investors betting against a companies shares are forced to unwind their positions after a rally in the stock price, analysts said. That would make it similar to GameStop and other popular “meme stocks” that soared in January and plummeted last month, only to come alive again in recent weeks. "This is another ‘Gamestopesque’ short activity," said Ihor Dusaniwsky, managing director of predictive analytics at S3 Partners.

  • Man gets Covid jab from ‘guardian angel’ doctor who saved his life 23 years ago

    Andy Barr was diagnosed with Goodpasture syndrome, a very rare autoimmune disease, when he was 21.