Long Harbour to launch takeover bid for UK's PRS REIT, Sky News reports
June 11 (Reuters) - UK-based real estate investment management firm Long Harbour has secured financing to launch a 700 million pound ($944.51 million) takeover bid for PRS REIT (PRSR.L), opens new tab, Sky News reported on Wednesday.
Reuters could not immediately verify the report.
($1 = 0.7411 pounds)
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The Independent
22 minutes ago
- The Independent
Boeing's troubled era has dimmed the prospects of a preeminent American manufacturer
A London-bound Air India plane carrying more than 240 people crashed shortly after takeoff Thursday. Authorities said there were no known survivors. It was not immediately clear why Air India flight 171, a Boeing 787-8, crashed into a residential area five minutes after taking off. Boeing said it was aware of the reports of the crash and was 'working to gather more information.' It was the first fatal crash of a Boeing 787, a widebody, twin-engine plane known as the Dreamliner. But it's the latest in a string of troubles for Boeing, most of them tied to the 737 Max, a different plane. Here is a timeline of key events for Boeing in recent years: December 2009: The 787 Dreamliner makes its first flight, taking off from Paine Field in Everett, Washington. January 2013: 787s worldwide are grounded nearly three weeks after lithium ion batteries that are part of the planes led to a fire in one plane and smoke in a second. August 2015: The first 737 Max plane rolls off the production line and within a year are undergoing flight tests. Oct. 29, 2018: Lion Air Flight 610, a Boeing 737 Max 8, plunges into the Java Sea off the coast of Indonesia minutes after takeoff from Jakarta, killing all 189 people on board. Questions arise over a new Boeing flight-control system called MCAS that Boeing did not disclose to pilots and airlines. Indonesian investigators say the Flight 610 pilots struggled for control as the automated system pushed the nose of the plane down more than two dozen times. March 1, 2019: Wall Street remains enamored with Boeing as commercial aircraft orders rocket. Shares of Boeing Co. close at an all-time high of $430.35. March 10, 2019: Ethiopian Airlines Flight 302, a Boeing 737 Max 8, crashes after takeoff from Addis Ababa, Ethiopia, killing 157 passengers and crew members. Shares of Boeing begin a long, downward slide and have yet to recover. March 2019: Within days of the second crash, the U.S. Federal Aviation Administration and regulators in nations around the world order the grounding of all 737 Max jets. Dec. 23, 2019: Boeing ousts CEO Dennis Muilenburg, who was seen as pressuring the FAA to lift the Max grounding order. Jan. 7, 2021: U.S. Justice Department charges Boeing with fraud but won't prosecute the company for misleading regulators about the 737 Max if it pays a $2.5 billion settlement. Jan. 5, 2024: A panel covering an unused emergency exit blows off a 737 Max 9 during an Alaska Airlines flight. Pilots land the plane safely. Feb. 26, 2024: A panel of outside experts, convened after the two deadly crashes, reports Boeing's safety culture falls short despite the company's efforts to fix it. March 11, 2024: A LATAM Airlines Boeing 787-9 Dreamliner flight between Australia and New Zealand suddenly plunges, injuring 50 people. Boeing tells airlines to inspect switches on pilots' seats after a published report said an accidental cockpit seat movement likely cause the rapid loss of altitude. March 25, 2024: Dave Calhoun, who replaced Muilenburg, says he will step down as CEO by year-end as part of a broader shakeup of Boeing leadership. July 7, 2024: Boeing agrees to plead guilty to conspiracy to defraud the U.S. government for misleading regulators who approved pilot-training standards for the Max. July 31, 2024: Boeing names Kelly Ortberg as its new chief executive. Ortberg is a trained engineer and was CEO of aerospace supplier Rockwell Collins for eight years. Many see his appointment as an attempt by Boeing to get back to its roots. Sept 13, 2024: About 33,000 Boeing factory workers walk off the job in a strike that will cripple production at one of the preeminent manufacturers in the U.S. for almost two months. It is the first labor action taken against the company in 16 years. May 23, 2025: The Justice Department reaches a deal with Boeing that takes criminal prosecution off the table for allegedly misleading regulators about the 737 Max jetliner before the two fatal planes crashes. Boeing agreed to pay or invest more than $1.1 billion, including an additional $445 million for crash victims' families, removing the risk of a criminal conviction that would have jeopardized the company's status as a federal contractor.
Daily Mail
35 minutes ago
- Daily Mail
Labour's Jonathan Reynolds 'hopeful' US-UK deal on car tariffs will FINALLY be in place in days - with Britain 'ready to go' once Donald Trump gives the green light
Britain's deal with America to reduce tariffs on UK car exports could finally be implemented within days, Business Secretary Jonathan Reynolds signalled today. More than a month ago, on 8 May, PM Sir Keir Starmer and Donald Trump struck an agreement in the wake of the US President imposing sweeping trade tariffs across the world. The two leaders struck a 'cars for agriculture' deal that would see tariffs on British automotive and steel exports to the US slashed. This was in exchange for greater access to UK markets for American goods such as beef and ethanol. But the agreement is still yet to be implemented amid claims the two sides are still negotiating over the section of the deal affecting British steel exports. Mr Reynolds this afternoon insisted Britain was 'ready to go' as soon as the US President gives the green light on the deal. He told reporters at a Westminster lunch event: 'We are ready to go on our side. 'In terms of the steps I need to take, I will inform the House [of Commons] with a written ministerial statement and lay the statutory instruments for the reciprocal part of that deal, which is obviously about beef and ethanol for us on this side. 'So we're ready to go, and as soon as the President and the White House on their side are able to, we will implement that part of the deal.' The Business Secretary added he was 'very hopeful' the agreement could be implemented by the end of this week. Sir Keir is soon due to meet with Mr Trump at the G7 summit in Alberta, Canada, which begins on Sunday. Earlier this week, Mr Reynolds met with US commerce secretary Howard Lutnick in London, with the PM also dropping in on the meeting. He said: 'We have had - again - a very significant week. We have not only had interactions this week... between ourselves and the US, and ourselves and China, we have been hosting talks between the US and China.' Mr Reynolds added: 'Secretary Lutnick and I and the PM talked specifically about the execution of the automotive tariff reduction, the quota, which is part of our deal.' Along with 10 per cent tariffs on all British goods, Mr Trump earlier this year imposed 25 per cent levies on cars and steel. He later increased the tariff on steel to 50 per cent, but gave the UK a reprieve, keeping Britain's rate at 25 per cent until at least July 9. Under the broad terms of last month's UK-US agreement, the US will implement quotas that will effectively eliminate the tariff on British steel and reduce the tariff on UK vehicles to 10 per cent. Following Tuesday's meeting with Mr Reynolds and the PM, Mr Lutnick posted on X/Twitter: 'It was a pleasure to meet our great ally, the Prime Minister of the UK, at Downing Street. 'We agreed to implement our historic trade deal as soon as possible, starting with the agreed quotas for UK autos, and US beef and ethanol, becoming simultaneously active in the coming days.'
The Independent
37 minutes ago
- The Independent
Jonathan Reynolds mocks Nigel Farage's coal mines plan as an ‘absolute parody'
Jonathan Reynolds has mocked Nigel Farage for wanting to reopen the coal mines in Wales, dubbing him an 'absolute parody'. The business secretary, whose grandfather was a coal miner, admitted that Reform UK are Labour's biggest opponents – but said Mr Farage fails to understand 'the pride in where we're from and what we represent, but also the aspiration for the future'. Speaking at a media lunch in Parliament, Mr Reynolds also defended the UK's plan for closer trade ties with the US, saying: 'We might have different views but we have to engage with them'. His comments come after Mr Farage announced his party wants to restart Port Talbot's blast furnaces and 're-industrialise Wales'. On a visit to South Wales, the leader of Reform UK said the resumption of traditional steelmaking and coal production is the party's long-term ambition if it comes to power. The speech came one year ahead of the Senedd elections in May next year, where the party is looking to end Labour's 26 years of domination. But Mr Reynolds shot down the plan, telling reporters: 'When I see someone like Nigel Farage go to Wales and say to those people, 'I'm going to reopen the coal mines' and he thinks that's what working class people want - that is an absolute parody of what someone like Nigel Farage thinks that people like I grew up actually want.' He added: 'My grandfather was a coal miner, kind of much like everyone where I grew up… It was a position of real responsibility and family pride. 'He went down the mine fourteen years ago. He had one message for my dad, and that was 'don't go down the mine'. And he became a fireman. 'That's the bit that our opponents don't understand: the pride in where we're from and what we represent, but also the aspiration for the future.' Acknowledging that Reform is currently Labour's biggest opponent, he said the challenge facing the government is to persuade voters that 'mainstream politics can deliver for them'. Turning to the US trade deal, Mr Reynolds said the UK was able to negotiate one before other countries because Britain has made an effort to understand America's mindset. 'This is not US politics disrupting global trade. This is how global trade has disrupted US politics', he said. 'We might have different views but we have to engage with them.' The business secretary also recounted one phone call with his US counterpart Howard Lutnick, where he said he was worried he was 'going to sell the NHS' because of poor phone signal. 'The Woodhead Pass between South Yorkshire and Manchester is probably the only place in Britain with worse mobile phone reception than working in Parliament…. 'Howard starts talking, but because of the reception, every fifth or sixth word is genuinely cutting out of signal. 'I'm literally slightly worried I'm going to sell the f***ing NHS because of Britain's telecommunications infrastructure. I didn't. And I'm pleased to say we were the first country to get a deal.' The deal, announced last month by Sir Keir Starmer and Donald Trump, will see British tariffs on steel and automotive exports to the US slashed in exchange for greater access to the UK for some American goods. But the deal has still not been implemented, with both Washington and London yet to take the necessary steps to reduce tariffs. Mr Reynolds said the UK is 'ready to go' on implementing it's the deal, but is waiting for the White House to finalise it on their side. The business secretary added he was 'very hopeful' that the agreement would come into effect 'very soon', but acknowledged negotiations had not 'always been easy'. A Reform UK spokesman said: 'Labour are continuing to deindustrialise our towns and communities across the country. They don't blink when we lose thousands of well paid jobs in these crucial industries. 'Labour simply don't understand working people. Reform will continue to call for the re-industrialisation of Britain and with it, bring back thousands of well paid jobs.'
