APPLE yesterday splashed out on social media analytics firm Topsy, a business which was only founded in 2007. The technology giant, led by Tim Cook (right), is said to have paid $200m (£122.3m).
TESCO wasn’t the only supermarket moving downwards yesterday.
FACTORIES in the UK are still reporting that their businesses are expanding, now at the fastest pace in nearly three years, indicating another positive contribution to GDP growth in the fourth quarter.
BRITAIN’S smallest companies are more likely to believe the EU is bad than good, a study showed yesterday.
MANUFACTURING output in the US grew at its fastest pace since January last month, a business survey from Markit showed yesterday.
THE FUNDING for Lending Scheme (FLS) saw a spike in use during the third quarter, with the amount drawn from the programme more than tripling from the previous three months, according to official statistics released yesterday.
LLOYDS Banking Group confirmed yesterday that Lord Blackwell, one of the bailed-out bank’s non-executive directors, will be promoted to chairman.
THYSSEN Krupp shares collapsed yesterday after the German steelmaker announced it was issuing 10 per cent of new shares to raise £745m of fresh capital.
COMMUTERS will be offered the chance to pick up their parcels from the train station as part of a trial being run by Network Rail.
ALBEMARLE & Bond has now seen its board of directors halve in two months after four more directors stood down yesterday.
The Sunday Times has been denied the right to appeal against a decision that it libelled Peter Cruddas, the chief executive of CMC markets, over his fund-raising duties for the Conservative Party.
KPMG has won the contract to audit consumer goods group Unilever from next year, in an €18m-a-year deal that was previously held by PwC.
Investment bank UBS yesterday said it will buy back a chunk of its own debt in a bid to shrink its balance sheet.
THE TREASURY Select Committee has called on the government to commission an independent review by the end of next year into whether the Money Advice Service (MAS) should exist as a statutory body.
NEW PLANNING permission approvals soared by almost a third in the last year, according to figures out yesterday from the Home Builders’ Federation (HBF).
THOUSANDS of home owners have had to slash the price of their house to below £250,000 to get a sale because of the impact of stamp duty, according to a report out today from London Central Portfolio and the Cass Business School.
THAMES Water yesterday proposed an 11 per cent increase to water bills, despite regulator Ofwat rejecting its request for an eight per cent rise just last month.
HEDGE fund managers offering less risky funds to investors have been rewarded with a surge in the new business, a poll shows.
DRUG companies spend an average of $1.3bn to bring a new product from discovery to the market, up from $1.1bn on a year ago, research out today suggests.
THE UK has held onto its position as having the most attractive tax regime among peer countries, according to a leading survey released yesterday.
SOFTWARE and services company Servelec yesterday floated its shares on the main market of the London Stock Exchange, reaching a valuation of £146.9m.
LORD Birt, the former BBC director general, was yesterday made chairman of Britain’s biggest internet hosting company Host Europe Group, amid an ongoing management shake-up at the UK-based firm.
RATHBONE Brothers veteran chief executive Andy Pomfret yesterday said he was retiring from the company next year after a decade at the helm of the investment firm.
STUART DUNCAN | PEEL HUNT
INSURERS are warning that low interest rates could cause insolvencies in their industry, a report from Linklaters has found.
SCIENTIFIC camera maker Andor Technology has once again shot down Oxford Instruments’ attempts to negotiate a takeover, labelling the firm’s £159m offer as disappointing.
DEBENHAMS lined up its roster of British fashion collaborators yesterday to help celebrate the relaunch of its Oxford Street flagship store.
THE US new issues market showed no signs of slowing down yesterday after two American hospitality giants with substantial UK operations priced their forthcoming market floats.
ELEPHANT & CASTLE Shopping Centre has been sold for £80m, with the new owners pledging to carry on with plans to demolish the site and replace it with rental homes.
The new owners of Swedish car maker Saab, National Electric Vehicle Sweden, yesterday restarted production at the Trollhattan factory in Sweden.
Smiths News and Menzies Distribution have both secured five year extensions to their distribution agreements with Trinity Mirror worth £293m in total.
Innovation Group, the business software and processes firm, saw its share price drop 2.1 per cent yesterday despite reporting
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WEAK miners dented top UK shares yesterday, tracking copper prices lower as traders bet on more falls for the broader market, while Tesco dropped on analyst downgrades ahead of a trading update this week.
US STOCKS closed lower last night, with investors unable to keep pushing shares higher after eight straight weeks of gains, while the mining sector slid alongside sharp drops in precious metals prices.
CHANCELLOR George Osborne has pledged that the government will waive the cost of some green levies currently paid for through energy bills, in a bid to ease political pressure and save the public money.
ONLINE retailer Amazon has said it expects to receive more than 4m orders today as UK shoppers flock to online stores on so-called Cyber Monday, a rise of around 15 per cent on the same day last year.
GEORGE Osborne could have more room for tax cut giveaways as the economy recovers, analysts predicted ahead of Thursday’s Autumn Statement.
EVERY little helps. George Osborne’s Autumn Statement on Thursday will contain some positive changes, for which it would be churlish not to congratulate him.
PRIME Minister David Cameron landed in China late last night, travelling with the largest trade delegation that the UK has ever sent to the country.
THE NEW British Business Bank is to be set up in Sheffield, according to a government announcement today, as business secretary Vince Cable pledges another £250m for the project.
CONSERVATIVE MP Mark Hoban is under pressure to reveal how many meetings and phone calls he had with Co-op bosses during the doomed sale of Lloyds bank branches.
THE NUMBER of jobs created in the City of London spiked last month, up by over a third from November 2012, according to a report released this morning.
LIDL’s UK managing director has announced plans to double the discount chain’s number of stores over the coming years.
RONNY Gottschlich, managing director of Lidl UK, described the discount retailer’s growing number of core shoppers as Maidstone Mums. “The Maidstone Mum is someone who probably previously would have thought, I can’t be seen in a Lidl store.
TAKE note, Tesco. Britain’s biggest supermarket, which is expected to post a drop in like-for-like sales of around 1.5 per cent on Wednesday, has been caught napping by Lidl and its discount peers in recent months.
CHANCELLOR George Osborne has distanced himself from comments made by Boris Johnson on low IQ and economic success.
A LEADING think tank has criticised the government’s plans for HS2, calling it an expensive pet project that “should be canned”.