Getting Casinos Closures put 1600 Jobs in Danger | UK Market Update

  • Jul 17, 2020 BST
  • Team Kalkine

Inspired Energy Plc (LON: INSE) has informed about the completion of the acquisition of Ignite Energy Ltd. The company further to its earlier announcement of 10 July 2020 has completed the acquisition of the outstanding 60 per cent. of Ignite Energy Ltd. The acquisition, which is on a debt-free cash-free basis, is worth consideration of £11.0 million, comprising of £5.5 million of cash and £5.5 million of shares. The company has further reported that the consideration shares were issued at a price of 17.16 pence per consideration share. The price was average mid-market closing price for the five days prior to 10 July 2020. On 17th July 2020, at the time of writing, GMT 08:28 AM, INSE shares were trading at GBX 16.00, unchanged against the previous day closing price.

British Airways said on Friday that it would retire its entire fleet of the iconic Boeing (BA) 747 jumbo jets around four years earlier than it had previously planned, citing the impact of the coronavirus pandemic. The airline is currently the world’s largest operator of the jet, which is affectionately known as the “queen of the skies.” British Airways said on Friday that the sunsetting of the 747 would allow it to operate more flights on newer, more fuel-efficient aircraft, such as the Airbus 350 and Boeing 787. Earlier this month, reports suggested that Boeing is planning to stop production of the 747 altogether by 2023.

Genting Casinos says 1,642 employees in the UK could face losing their jobs, despite plans to reopen venues. The GMB union said there were also plans to close three clubs in Margate, Torquay and Bristol. Genting said the coronavirus lockdown had forced it to make "heartbreaking decisions" about the future of its business.

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