Amazon rolls out new tablets and e-readers September 18, 2014 AMAZON ramped up its push into hardware yesterday, with the debut of six new or upgraded mobile devices, including a high-end £169 e-reader called the Kindle Voyage and its cheapest-ever six-inch touch-screen Fire tablet starting at just £79. The online retail giant also revamped its basic Kindle e-reader to include a touch screen at just [...]
UBM in talks for £550m takeover of US Advanstar September 18, 2014 Events and information giant UBM yesterday confirmed it is in takeover talks with US trade show organiser Advanstar, in a deal that might be worth up to $900m (£549m). UBM, which also owns PR Newswire (PRN) and has a market capitalisation of £1.5bn, said in a statement that it “notes recent market speculation concerning [...]
Dividend hike lifts EasyJet September 18, 2014 BUDGET airline EasyJet yesterday said it would hike its dividend. However, its founder slammed a decision to go ahead with a large aircraft order. EasyJet said it would raise its dividend from 33 per cent to 40 per cent, due to “continued strong financial performance of EasyJet and confidence in the future”. However, founder Sir [...]
Big banks set to cut more costs September 18, 2014 THE SQUEEZE on investment banks from red tape is not over and banks must keep cutting costs over the coming years, Standard and Poor’s predicted yesterday. Capital markets revenues are down 10 per cent this year, and S&P does not predict a recovery in 2015. “We see a divergence among banks’ longer-term strategies to strengthen returns, with [...]
Rodney Cook interview: Just Retirement rides out annuity storm September 18, 2014 In February this year, crisis management experts visited Just Retirement’s Surrey head office to give senior executives a crash course in coping with the unexpected. Managers didn’t have to wait long to put that advice to use. When George Osborne announced sweeping changes to pension arrangements within the March Budget, allowing retirees to withdraw their [...]
London Eye owner Merlin to open more Dungeons across the US September 18, 2014 London Dungeon owner Merlin Entertainments is planning to roll-out the spine-tingling attraction across the US after the success of its first US Dungeon in San Francisco. The owner of the London Eye and Madame Tussauds yesterday reported a 6.7 per cent rise in like-for-like sales for the 36 weeks to 6 September, driven by a [...]
Analyst Views: What was your reaction to Merlin’s interim management statement? September 18, 2014 IVOR JONES | NUMIS Merlin has long-term growth potential driven by capital investment, a track record of excellent execution, and the potential to enhance its business with the application of yield management technology. All of these attractions are, we believe, reflected in the current share price and we reiterate our “hold” rating. MARK IRVINE-FORTESCUE | [...]
French Connection share price falls even as retailer narrows losses September 18, 2014 French Connection shares fell almost 14 per cent yesterday as the retailer struck a cautious note over the crucial Christmas period ahead, even as losses narrowed in the in the first half of the year. The clothes retailer has been trying to reverse its fortune after years of weak sales by cutting back on the [...]
Investors in for volatility shock September 18, 2014 INVESTORS are too confident that a prolonged period of market stability will continue, and could be hit hard when volatility returns, the Financial Stability Board warned yesterday. “Volatility in asset prices has become compressed and asset valuations stretched across a growing number of markets, increasing the risk of a sharp reversal,” according to the group of [...]
Hedge fund Elliott Advisors earns £59m after selling down stake in Game Digital September 18, 2014 GAME Digital’s US hedge fund owner Elliott Advisors has pocketed £58.5m after selling a chunk of its stake in the video games retailer, dragging shares down yesterday. Liberum Capital revealed yesterday it had sold 22.5m shares held behalf of Elliott Advisors through a Luxembourg-registered investment vehicle, Duodi. The tranche of shares, which was sold through [...]