An operator of Formula One driving simulators is raising £100m to fund its expansion in a financing round backed by the sport’s owner. Sky News has learnt that F1 Arcade is close to finalising the new debt facility with Liberty Media, the British challenger bank Oaknorth and Cheyne, an investment fund. City sources said on Wednesday that the deal was expected to be completed within the next week, days before the British Grand Prix at Silverstone.
A lack of extreme warmth will be a key theme this holiday long weekend, and a couple of provinces have a near-certainty to see stellar weather for Canada Day fireworks.
New European Union rules further restrict Germany's fiscal space for its budgets, requiring stricter adjustments than under national regulations, the finance ministry said on Wednesday. Germany has received an adjustment path for the next four year from the European Commission, which serves as the basis for the discussions that will follow later in the year. "It shows that indeed the new rules will make necessary more adjustments and fiscal policy must be moderately restrictive," Finance State Secretary Florian Toncar said on Wednesday.