AT&T announces Warner Media restructuring to prepare for streaming battle March 4, 2019 AT&T detailed plans to restructure its Warner Media business in a memo to employees today. The American telecommunications giant is preparing to enter the world of streaming and do battle against Netflix and Disney. Last week, it defeated the US government’s efforts to undo its $85bn (£65bn) purchase of Warner Media, formerly called Time Warner, [...]
Flybe shareholders approve airline sale to Virgin-led Connect Airways March 4, 2019 Shareholders in ailing airline Flybe have today approved its acquisition by Virgin-led consortium Connect Airways. At a general meeting today, 63 per cent of shareholders voted with the board's recommendation that they approve the sale, while 37 per cent staged a revolt and voted against it. Flybe has been urging its shareholders to accept the Connect [...]
Asset management firm Invesco lobbies US Securities and Exchange Commission over Mifid II implementation March 4, 2019 Global asset management firm Invesco is lobbying for the US financial regulator to allow it to implement Mifid II rules on paying for investment research. The firm attended a meeting with the Securities and Exchange Commission (SEC) last year to push for changes to rules which ban brokers from receiving research payments unless they are [...]
Interserve’s biggest shareholder issues fresh demands for rescue deal which increases investor value March 4, 2019 Struggling outsourcer Interserve’s biggest shareholder, which last week threatened to sue the company over its handling of a rescue deal, has written to the board to propose new terms for the restructuring. Coltrane Asset Management, a US hedge fund and 27 per cent shareholder, has been railing against Interserve’s suggestions of a deal with its [...]
Nasdaq improves offer for Norwegian stock exchange Oslo Bors as bidding battle intensifies March 4, 2019 Nasdaq has boosted its offer for Norwegian stock exchange Oslo Bors as it seeks to outbid rival Euronext. The US exchange said today it had increased its offer from 152 Norwegian kroner to 158 Norwegian kroner, valuing the business at roughly 6.8bn Norwegian krone (£600m). The move matches an offer from European rival Euronext which [...]
Johnson Service Group eyes up more acquisitions off back of strong balance sheet March 4, 2019 Laundry company Johnson Service Group plans to continue a series of acquisitions which helped the firm grow profits through 2018. The services group’s shares rose slightly on Monday as it announced a strong balance sheet, following the buyout of South West Laundry in August. Read more: Londoners: Now there’s an "Uber for laundry" The figures [...]
Government delays Financial Services Bill vote in tax havens dispute March 4, 2019 A government bill designed to protect the City in the event of a no-deal Brexit was pulled tonight in the face of almost certain defeat after MPs added an amendment that would have forced greater tax transparency on the Isle of Man, Guernsey and Jersey. The decision sparked an outcry among MPs and campaigners who [...]
Icelandic carrier Wow Air faces headwinds as it extends deadline for rescue deal March 4, 2019 Iceland’s Wow Air is the latest low cost airline facing severe turbulence, after it has been forced to ask lenders for an extension to negotiate a rescue deal. The carrier, which has faced months of financial difficulties, confirmed it has asked for an extra month to negotiate a rescue deal with US investment company Indigo [...]
Theresa May tweets picture of Bath on anniversary of Salisbury Novichok attack March 4, 2019 Theresa May mistakenly tweeted a picture of Bath with a message marking the one year anniversary of the Novichok incident in Salisbury today. Read more: Military to dismantle Salisbury home of poisoned Russian spy The Prime Minister’s tweet used a picture of Bath’s St John Roman Catholic Church, confusing it with Salisbury Cathedral’s 123-metre long [...]
Ex-Which magazine director joins Financial Conduct Authority board March 4, 2019 The former executive director of Which magazine, Richard Lloyd, will become a non-executive director of the UK’s Financial Conduct Authority (FCA) from 1 April, it was announced today. His term at the FCA, which is the independent conduct regulator for 58,000 financial services firms and financial markets in the UK, will last three years. Read [...]