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Octopus Energy to spin off $8.65bn tech arm Kraken
Archie MitchellBusiness reporter Getty Images Octopus Energy is set to spin off its Kraken Technologies arm as a standalone company after a deal to sell a stake in the platform valued it at $8.65bn (£6.4bn). The energy giant, Britain’s biggest gas and electricity supplier, has sold a $1bn stake in the AI-based division to a…
Bankers to get bonuses quicker under rule change
Senior bankers will be able to pocket bonuses more quickly under a relaxation of rules brought in after the financial crisis of 2007/2008. Senior bankers have had to wait up to eight years to collect their bonus in full to make sure the deals they were being rewarded for turned out to be profitable longer…
Revolution Bars to enter administration with 2,200 jobs at risk
Revel Collective The owner of Revolucion de Cuba and Peach Pubs is to go into administration, putting as many as 2,200 jobs at risk. Revel Collective, the parent company which has 62 pubs and bars across the UK, put itself up for sale in October after facing what it called “a continued period of external…
Walmart chief Doug McMillon retiring after more than a decade
Walmart chief executive Doug McMillon will retire from his post in January, handing over the reins to a longtime deputy. The 59-year-old is stepping down after more than a decade at the helm of the world’s largest retailer, a period when it successfully expanded its online operations, while scaling back riskier international units. He will…
