Sports Direct eyes Cotswold June 12, 2014 SPORTS Direct has joined the bidding for Cotswold Outdoor, as Mike Ashley’s high street retailer looks to the great outdoors again following its unsuccessful bid Blacks Leisure two years ago. The firm is understood to have lodged a bid for Cotswold’s parent company AS Adventure, which owner Lion Capital has put up for sale with [...]
FinnCap chief exec Sam Smith nabs a First Women gong June 12, 2014 “It’s a refreshing change to look out at a room full of women,” Katja Hall, deputy director- general of the CBI, told the crowd at the Lloyds-sponsored First Women Awards last night. “Most of the events I go to are full of white, middle-aged, slightly balding men.” Her boss at the CBI, John Cridland, took [...]
Ships ahoy for Mark Carney at Mansion House Banquet for Bankers June 12, 2014 Mark Carney’s adventurous side came out at the Lord Mayor’s Banquet for Bankers last night in Mansion House. The governor of the Bank of England executed a perfect dive into the white waters of nautical analogies, bravely choosing a canoe as his vessel of choice (so very Canadian). “Rather than appeal to the stately Duchess [...]
Tesla to share its car patents June 12, 2014 ELON Musk, the billionaire entrepreneur behind leading electric car company Tesla and private space travel firm SpaceX, has announced Tesla will allow others to use its intellectual property in hopes of boosting development of electric cars. Musk said on the company’s website that the industry would benefit from open-source sharing of technologies. “If we clear [...]
Google eyes up Virgin Galactic June 12, 2014 GOOGLE is reportedly considering taking a stake in Richard Branson’s Virgin Galactic as part of the search giant’s plans to extend internet access to remote regions of the world. Talks between the companies are in an advanced stage and include both a planned joint venture that would combine millions of dollars from Google and Virgin’s [...]
Network Rail’s profits soar but delays also rise June 12, 2014 NETWORK Rail yesterday said its yearly profits after tax passed £1.2bn last year while investment increased – though delays have risen further. NR, the public sector body responsible for Britain’s railway tracks and many of the big stations, said 90 per cent of trains ran on time in the year to the end of March, [...]
Small firms missing out on £46m swaps compensation from banks June 12, 2014 BRITAIN’S biggest banks have contacted every firm that might have been mis-sold interest rate swaps, the City watchdog said yesterday as the final 500 letters were sent out this month. So far, more than £1bn has been paid out in compensation. The year-long task took one month longer than planned. But now the process of [...]
Aer Lingus warns strikes could wipe a fifth from its earnings June 12, 2014 Aer Lingus yesterday blamed looming strike action for its surprise profit warning, in which it said profits could be up to a fifth lower than last year. The Irish carrier said Impact union’s strikes, expected next week, had caused “significant damage” to bookings over the crucial summer months. The firm said yesterday that, providing there [...]
EVCA names Anne Glover as chairman June 12, 2014 The European Private Equity and Venture Capital Association (EVCA) yesterday elected Amadeus Capital Partners’ chief executive Anne Glover as its new chairman. Glover, who was also chairman of the British Venture Capital Association (BVCA) between 2004 and 2005, will replace HarbourVest Partners managing director George Anson, who is stepping down.
Intel loses appeal against record €1.06bn fine for antitrust breach June 12, 2014 INTEL suffered a heavy blow yesterday as it lost its challenge against a record €1.06bn (£852m) fine imposed by EU antitrust regulators as a result of its efforts to block rival Advanced Micro Devices (AMD) from the lucrative computer chips market. The massive fine, the highest ever inflicted on a company in an antitrust case [...]