Direct Line share price wobbles after revealing technology revamp impairment November 7, 2017 Direct Line shares wobbled this morning after revealing a technology systems overhaul was not going to plan. The FTSE 100 insurer, which was spun-off from Royal Bank of Scotland in 2012, is spending up to £100m each year on revamping its legacy systems and developing new technology to improve the “customer journey”. But the value [...]
Government delays Silvertown Tunnel decision by another six months over air quality concerns November 7, 2017 The decision on whether to proceed with a new road tunnel under the Thames has been delayed by another six months, the government announced today. Transport minister Paul Maynard said in a written statement that the deadline for the decision on Silvertown Tunnel, that would link the Greenwich Peninsula and Silvertown, was to be pushed [...]
Dialog Semiconductor share price falls despite Apple supplier’s record third quarter November 7, 2017 Shares in Apple supplier Dialog Semiconductor slipped despite a record third quarter and positive guidance for the year. The figures Revenue came in at $363m in the third quarter to the end of September, up five per cent on the same period last year and in line with forecasts. The UK-based German chipmaker said underlying [...]
The trials and tribulations of tapping new tech November 7, 2017 "Neither Redbox nor Netflix are even on the radar screen in terms of competition.” Those are the words of Jim Keyes, the former chief executive of video rental giant Blockbuster back in 2008. Just five years after Keyes made that statement, Blockbuster went bust, swallowed whole by the mighty online streaming service that is Netflix. [...]
London gets another new private equity firm as Apiary Capital aims to raise £150m November 7, 2017 Another private equity firm is joining the melee of funds investing in the UK, as sources revealed that Apiary Capital is aiming to raise £150m to invest in lower mid-market companies. The firm, which is headed by former Bowmark Capital senior partner Mark Salter, is still in the early stages of fundraising, sources familiar with [...]
UK house prices just hit their highest on record (again) November 7, 2017 UK house prices hit their highest on record in October, having grown at their fastest since the beginning of the year. The average UK house price rose to £225,826 in October, up 2.3 per cent in the three months between August and October, their fastest rise since January this year. Year-on-year growth hit 4.5 per [...]
Johnston Press formally served with demand for boardroom shake-up by billionaire activist investor November 7, 2017 Johnston Press’s biggest shareholder has demanded former Scottish National Party leader Alex Salmond be appointed to the board of the owner of the i newspaper. Norweigian billionaire Christen Ager-Hanssen, who owns 20 per cent of Johnston Press through his company Custos Group, yesterday wrote to the company calling for chair Camilla Rhodes and non-exec Michael [...]
Trump gives Saudi purge the thumbs up – days after saying Aramco should list in the US November 7, 2017 Donald Trump might be in Asia, but he’s still watching events in Saudi Arabia as they unfold – and has given the state his backing. Over the weekend, Saudi police arrested 11 princes and dozens of officials and businessmen, under the direction of crown prince Mohammed bin Salman and his father King Salman. Billionaire businessman [...]
PR consolidates role as brand storyteller and defender of reputation (study) November 7, 2017 The UK’s Public Relations and Communications Association (PRCA) recently unveiled its survey of practitioners into the digital skills in the market and clients’ attitudes to digital services. It’s no surprise to learn that digital services are in flux, but what is interesting is where that investment is focused. I’m a member of the PRCA, the [...]
Primark owner Associated British Foods (ABF) share price dips as it reports jump in revenue and profit November 7, 2017 Primark’s parent company has reported a jump in profit and revenue in the 52 weeks to 16 September The figures Associated British Food’s (ABF) group revenue was up 15 per cent to £15.4bn, while adjusted operating profit rose 22 per cent to £1.36bn. Primark sales were up 19 per cent year-on-year, rising from £5.95bn to [...]