Global music industry revenue grows 10 per cent as streaming booms April 2, 2019 Global music industry revenues grew almost 10 per cent last year as the rise in streaming services offset a decline in physical formats. Revenues grew 9.7 per cent in 2018 to hit $19.1bn (£14.7bn), according to the latest figures from the International Federation of the Phonographic Industry (IFPI). Read more: Music streaming revenues overtake ownership [...]
Yougov credits US demand as revenue and earnings rise as CEO reveals five-year plan April 2, 2019 London polling firm Yougov saw revenue and profit soar in the six months to the end of January thanks to a growing international market and an increased focus on its custom research services. The figures Revenue rose 18 per cent year on year to £66.5m over the half-year. Adjusted profit before tax grew 28 per cent year on year to [...]
UK M&A slumps in first quarter as Brexit uncertainty lingers April 2, 2019 The value of UK M&A has slumped this quarter as Brexit uncertainty lingers, however, tech deals have grown to the highest year-to-date level in at least 18 years. A total of 27.4bn has been spent on UK assets so far this year, representing a 1.9 per cent decrease compared to the fourth quarter of 2018. [...]
Julian Dunkerton wins narrow shareholder vote to return to board of Superdry April 2, 2019 Superdry’s co-founder has won an audacious bid to reinstall himself onto the troubled retailer’s board this morning, throwing the future of the group’s directors into doubt. Investors have voted by a narrow majority of 50.75 per cent to allow Julian Dunkerton to return to the company following a long and bitter public battle with the firm’s [...]
London, meet your next skyscraper: Square Mile viewing attraction The Tulip wins planning approval April 2, 2019 A dramatic new tower known as The Tulip is set to join the City’s skyline after it was given the green light by planners in the Square Mile this afternoon. The 1,000 foot skyscraper, which has won approval from the City of London's planning committee by 18 votes to seven, will be built next to the Gherkin [...]
Digital advertising firm Teads posts revenue rise as it looks to fend off tech giants April 2, 2019 Digital advertising firm Teads has posted a 30 per cent jump in revenues for the full-year as it looks to win back market share from Facebook and Google. The media platform pulled in revenues of €365m (£314m) last year after extending its reach to 1.4bn global monthly users and more than 90 per cent of [...]
Stationery chain Office Outlet reveals list of 16 store closures as 161 jobs to go in CVA April 2, 2019 Office Outlet, the stationery retailer formerly belonging to Staples, has revealed the location of 16 store closures following its collapse into administration. The troubled high street retailer, which has drafted in administrators from accountancy firm Deloitte, revealed today that 161 jobs and 16 outlets face the axe. Read more: Stationery chain Office Outlet falls into [...]
Bonmarche shares drop as billionaire Philip Day snaps up retailer in cut-price deal April 2, 2019 Edinburgh Woollen Mill Group owner Philip Day is set to take struggling retailer Bonmarche private in a deal that values the firm at just £5.7m. Bonmarche has been plagued by profit warnings, issuing its third in late March when it told investors to expect up to a £6m loss due to “significantly weaker” March trading. [...]
MPs to vote on forcing Theresa May to ask for longer Brexit delay April 2, 2019 MPs are set to create a law forcing Theresa May to ask for a delay to Brexit. Read more: UK ‘risks trashing relationship with Europe’ over Brexit A cross-group of parliamentarians, including Conservative Sir Oliver Letwin and Labour’s Yvette Cooper, will on Wednesday bring forward a bill instructing the Prime Minister to request an extension [...]
Turkish lira falls against dollar as tensions with US mount over fighter jets April 2, 2019 The Turkish lira has fallen against the dollar today after the US suspended the delivery of F-35 fighter aircraft equipment to Turkey. The drop follows a tumultuous period in the foreign currency markets that saw a key lira lending rate hit 1,200 per cent amid claims of government meddling. Read more: Overnight Turkish lira lending [...]