Famous five of business this week (September 06-10)

September 11, 2021 09:20 AM AEST | By Nidhi Gupta

Famous five of business this week (September 06-10) — Image source: foxaon1987,Shutterstock

1. Ryanair Holdings Plc (LON: RYA)

Ryanair ended talks with Boeing regarding a major order for Boeing 737 jets due to a pricing related disagreement. The budget airline company based in Ireland is the largest customer for the 197-seat MAX 8-200 airplane model in Europe. The company also announced that it could order up to 250 of the 230-seat MAX 10 starting 2025. Ryanair has repeatedly clarified the prospect of a new deal with Airbus due to the plane manufacturer's massive backlog of orders.

Tuesday – September 07

888 Holdings Plc (LON:888)

888 Holdings, the UK-based online gambling company, closed a $2 billion deal to acquire Caesars Entertainment-owned William Hill’s European business operations. The acquisition is expected to bring back William Hill into UK ownership after Caesars purchased it from the London Stock Exchange listed company for a whopping £2.9 billion in April 2021. Post-acquisition, 888 may put 1,400 betting shops of William Hill up for sale to a new owner and continue maintaining just the company’s online business. Caesars Entertainment made it clear from the beginning that the company was not interested in William Hill’s non-US business operations.

Wednesday – September 08

Halfords Group Plc (LON:HFD)

Halfords is the latest to join the list of companies affected by the supply chain disruptions in the UK. The UK-based retailer reported a 26% decline in sales of bikes, bicycles and related kits during spring and summer 2021 due to disruption in global supply chains. The company operates 404 stores engaged in bicycles and motoring and cycling kits sales. The bike retailer also reported low availability of adult bikes, as the industry is reeling under the impact of capacity constraints caused due to shortage of service technicians and HGV drivers, raw material inflation, freight transport disruption, and limited factory production.

Thursday – September 09

Morrison (Wm) Supermarkets Plc (LON: MRW)

Morrisons’ acquisition battle is slated to end in a £7 billion auction between Clayton, Dubilier & Rice (CD&R), an American private equity firm, and a consortium led by SoftBank-owned Fortress, in October. Morrisons announced that both the companies did not declare their final offers, and hence a competitive situation persists. CD&R topped the takeover bid at 285 pence per share. Further, if the consortium had previously agreed to a £6.7 billion deal with the retailer and failed to come back with a higher bid value, the auction situation would not have occurred.

Friday – September 10

5. Argo Blockchain Plc (LON: ARB)

The UK-based bitcoin mining company Argo Blockchain used a part of its cryptocurrency stash to obtain an £18.05 million (US$25 million) loan. The company announced using some of the bitcoin for a loan taken out with Galaxy Digital, an American crypto investment bank. Argo’s total borrowing from Galaxy currently stands at £32.05 million. Argo would use the loan for its new West Texas-based ‘green’ bitcoin mine spread across an area of 320 acres. Argo said securing the loan from Galaxy Digital enabled the company to retain its current bitcoin holding and expand its mining operations.

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