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  • 📈 Everton’s New Owners: Stability on the Horizon!

📈 Everton’s New Owners: Stability on the Horizon!

Harrods Scandal: Luxury Can’t Hide Fayed’s Past

This is Cliff Equity, the UK’s business newsletter that keeps you informed on what’s important in tech, business and finance in less than 5 minutes

In today’s stories:

  • Everton’s New Owners: Stability on the Horizon!

  • Harrods Scandal: Luxury Can’t Hide Fayed’s Past

  • Vicebio's £100 Million Bet on Vaccine Innovation!

The summary: Everton’s long-awaited takeover by the Friedkin Group promises fresh leadership, financial stability, and hopefully a swift completion of their new stadium, offering a glimmer of hope to fans after a rocky season.

The details:

  • Everton Football Club is set for new ownership, with US-based Friedkin Group poised to purchase Farhad Moshiri’s 94% stake—pending regulatory nods, of course.

  • After a brief dalliance with the exit, Friedkin has returned, eager to steady Everton's stormy ship and finish their flashy new stadium at Bramley-Moore Dock.

  • The deal still faces the gauntlet of Premier League and Financial Conduct Authority tests, though it would likely end a tiresome sale saga for the club's long-suffering fans.

  • Having narrowly dodged relegation and languishing 19th this season, Evertonians may soon get the stability they’ve been crying out for—assuming this isn’t yet another false dawn.

Why it matters: Everton’s potential takeover could finally bring an end to the club’s chaotic ownership drama, offering hope of stability after their recent flirtation with relegation. With new owners come fresh wallets, and perhaps a chance to finish that grand new stadium that’s been lurking like an unfinished symphony at Bramley-Moore Dock. But until all those regulatory boxes are ticked, it’s still anyone’s guess whether this is the dawn of a new era or just another false start in blue.

The summary: Amidst Harrods' glittering past, revelations about Mohamed Al Fayed's troubling behaviour and a forgotten investigation now spark a push for justice, proving that even the most luxurious facades can’t hide the truth forever!

The details:

  • James McArthur, former Harrods CEO for a brief but miserable 10 months, described Mohamed Al Fayed’s behaviour as "abhorrent"—think inappropriate humour and a lack of professionalism—but claimed he saw no sexual abuse during his tenure.

  • Despite a 2008 media frenzy over police investigating an alleged assault in a Harrods boardroom, McArthur insists it all slipped his mind, suggesting Fayed was masterful at keeping scandal locked up in his office.

  • As allegations mount against Fayed, who passed away in 2023, McArthur expressed horror at the BBC documentary exposing them, supporting the victims’ quest for justice.

  • Harrods, now under Qatari ownership, is investigating whether any current staff were involved, while lawyers suggest the scale of the allegations could be "absolutely massive."

Why it matters: The sordid legacy of Mohamed Al Fayed, once the regal ruler of Harrods, has come crashing down with a slew of grim accusations, showing the rot beneath the glamorous veneer. Even a high-flying CEO like McArthur, it seems, couldn’t escape unscathed, though conveniently forgot the media storms of the time. As Harrods scrambles to investigate, it’s clear no amount of luxury handbags can gloss over the troubling past now bubbling to the surface.

The summary: With a hefty $100 million in funding and a clever molecular clamp technology up their sleeve, Vicebio is gearing up to shake up the vaccine scene by developing innovative jabs that target pesky respiratory viruses, promising a brighter and healthier future for those most at risk!

The details:

  • Vicebio, the ambitious London startup, has bagged a cool $100 million in Series B funding to stake its claim in the bustling vaccine arena, focusing on next-gen jabs for pesky respiratory viruses.

  • Their secret weapon? A spiffy innovation called molecular clamp technology, which keeps viral proteins in tip-top shape, prompting a robust immune response and making manufacturing as breezy as a stroll in Hyde Park.

  • With the dosh, they’re launching a Phase 1 trial for VXB-241, a vaccine tackling both the troublesome Respiratory Syncytial Virus (RSV) and the Human Metapneumovirus (hMPV), particularly unfriendly to the elderly and immunocompromised.

  • With plans for a multi-strain vaccine in the pipeline and no rivals on the market targeting both RSV and hMPV, Vicebio’s poised to give big guns like AstraZeneca a run for their money—if they can keep up the pace!

Why it matters: With respiratory viruses like RSV and hMPV giving the elderly a right royal bother, Vicebio’s innovative vaccines could be the ticket to a healthier winter. Their clever molecular clamp tech promises not only effective jabs but also a streamlined production process, which is just what the doctor ordered in today’s crowded vaccine market. If they pull it off, it might just be the start of a medical revolution—one that could have the big pharmaceutical players looking rather peaky!