Cazoo, the online used-car dealer founded by British entrepreneur Alex Chesterman 18 months ago, is to go public in a deal with a US-listed special-purpose acquisition company (SPAC), says The Daily Telegraph. The deal will value the firm at an estimated £5bn, with Chesterman, who founded Lovefilm and Zoopla-holding about 25%, worth £1.25bn. Other shareholders include the Daily Mail’s parent firm, which owns a 20% stake.

David Schwimmer, chief executive of the London Stock Exchange, 1s getting a 25% pay rise of £200,000, taking his base pay to £1m. The increase is justified by completing the group’s £20bn takeover of data firm Refinitiv in January, which makes the timing “unfortunate,” says The Times.

The increase is being justified by the completion of the group’s £20bn takeovers of data firm
Refinitiv in January, which makes the timing “unfortunate,” says The Times. “Shares in LSE
group have slumped by 24% in the past two weeks after it warned that absorbing Refinitiv was
going to be more costly.”

Source: MoneyWeek.com

Kris Paterson is a writer for WhatJobs.com