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- š Blackstoneās $13.3B Gamble on UKās AI Future
š Blackstoneās $13.3B Gamble on UKās AI Future
Morrisonsā Ā£331M Property Shuffle: Rent Back Game!
This is Cliff Equity, the UKās business newsletter that keeps you informed on whatās important in tech, business and finance in less than 5 minutes
In todayās stories:
Blackstoneās $13.3B Gamble on UKās AI Future
Morrisonsā Ā£331M Property Shuffle: Rent Back Game!
Ā£43.4m Boost for Molecular Magicians at Cambridge!
The summary: Blackstone's massive AI investment signals a bright tech future for the UK, even as we juggle a few economic hiccups like Thames Waterās woes and faltering car production ā onward and upward!
The details:
Blackstone is splashing $13.3 billion on a cutting-edge AI data center in northeast England, making a bold bet on the UK's tech future.
This hefty investment is set to boost the UK's tech infrastructure and create jobs, proving there's still some juice left in the economy.
While the FTSE 100 is showing a cheeky 0.3% rise, Thames Waterās finances are circling the drain, with its credit rating taking a dunk from both S&P and Moody's.
Itās a tale of two Britains: soaring tech potential, but economic niggles like shrinking car production and consumer gloom cloud the horizon.
Why it matters: Blackstoneās mega-investment is a cheeky nod to the UK's tech scene, hinting that AI might just be our next national treasure. Yet, while weāre eyeing a high-tech future, the countryās creaky car production and Thames Waterās sinking finances remind us we're not quite out of the economic woods. It's a bit like polishing the Bentley while the plumbingās on the fritz!
The summary: Morrisons is pulling a savvy move by selling off properties and leasing them back to chip away at debt, all while keeping the shelves stocked and the competition on their toes!
The details:
Morrisons has inked a Ā£331 million property deal to trim down its hefty debts, selling 76 properties and then cheekily leasing them back.
The deal, expected to close around October 2, is part of a "ground rent financing" arrangement ā all rather mysterious, with the buyer not officially disclosed (though whispers suggest Song Capital).
This comes after Morrisons was swept up by US private equity firm Clayton, Dubilier & Rice in 2022 for a modest Ā£7 billion.
With the paperwork nearly complete, all eyes now turn to the supermarket giantās third-quarter update ā as if the drama isnāt enough already!
Why it matters: Morrisons is cleverly offloading assets to pay down debt, a classic manoeuvre that shouts "we're not out of the woods yet" despite private equity ownership. Selling properties only to rent them back is like pawning your watch to pay the bills ā youāll still know the time, but itās not really yours anymore. With economic uncertainty brewing, everyone will be watching their third-quarter update like itās the final act of a tense drama.
The summary: Constructive Bio has snagged Ā£43.4m in funding to transform living cells into eco-friendly biofactories, promising a bright future of innovative therapies and molecular wizardry that could revolutionise medicineācheers to that!
The details:
Cambridge-based Constructive Bio, a synthetic genomics startup, has pocketed a neat Ā£43.4m in the first close of its Series A round, bringing their total funding to $75m.
Founded in 2021, the company specialises in crafting programmable molecules to conjure up novel therapies and cutting-edge biopolymers.
Prof. Jason Chin boasts that Constructive Bio is the only outfit capable of turning living cells into āsustainable biofactories,ā which sounds both eco-friendly and marvelously sci-fi.
The funding was led by Ahren, OMX Ventures, and Paladin Capital, with the hope that the company's wizardry will lead to breakthrough medicines, enzymes, and more.
Why it matters: Constructive Bio's hefty Ā£43.4m funding is like a shot of espresso for the biotech scene, hinting at a future where living cells do the heavy lifting in drug development. With their knack for programming molecules, we might soon be popping pills engineered in eco-friendly biofactories, rather than relying on traditional methods that sound like they belong in a Victorian chemistry lab. If Prof. Chin's grand plans come to fruition, we could be on the brink of a pharmaceutical renaissance, where breakthrough treatments are as commonplace as tea and biscuits.