Magic touch: Greene King appoints Merlin exec as new boss January 15, 2019 Brewer Greene King said today that Nick Mackenzie would join as new chief executive in May from Madame Tussauds-owner Merlin Entertainments. Mackenzie will replace Rooney Anand in the top job and join Greene King’s board on 1 May. At Merlin he is a member of the executive committee and is responsible for the Midway portfolio [...]
Netflix shares rise as subscribers face an 18 per cent price hike January 15, 2019 Netflix has said it will be raising the prices of its streaming services for US subscribers by as much as 18 per cent, as the tech giant seeks to cover the costs of ploughing heavy investment into its original content. Prices for its most popular standard viewing plan, which allows users to stream content on [...]
Industrial and logistics take-up soars to record high in 2018 January 15, 2019 Fresh evidence of the UK’s industrial property boom was brought to light today, with new figures showing that take-up in the sector during 2018 hit a record high. Online retail giants such as Amazon have largely driven the rise in demand, as an increasing number of consumers turn to e-commerce for shopping. Total take-for big [...]
Italy attracts strong demand for first new bond of the year January 15, 2019 Italy’s first major bond issue of the year has attracted more than €30bn (£26.7bn) of orders as investors showed renewed appetite for long-dated Italian debt. The new 15-year bond, due March 2035, sold through a syndicate of banks is expected to be priced at 18 basis points over its existing benchmark yield, according to Refinitiv. [...]
Number of firms paid late by Cabinet Office nearly triples since 2016 despite late payment crackdown January 15, 2019 The number of businesses receiving late payments from the Cabinet Office (CO) has nearly tripled in the last two years, despite the department imposing tough new rules on its own contractors who pay suppliers late. Minister of State for the CO David Lidington was today forced to reveal a 198.7 per cent increase in the number [...]
Huawei founder Ren Zhengfei rejects spying claims as daughter faces US extradition January 15, 2019 Huawei founder Ren Zhengfei today refuted claims the Chinese government is using his company to spy on foreign rivals. “I love my country, I support the Communist Party. But I will not do anything to harm the world. I don’t see a close connection between my personal political beliefs and the businesses of Huawei,” Ren [...]
MPs fear FCA proposals on overdraft rules could end free banking January 15, 2019 The head of the UK’s financial watchdog told MPs this morning that he is “very alert” to the possibility that proposed rules to tackle charges for unplanned overdrafts could raise the cost of planned consumer borrowing. MPs raised concerns that changes to overdraft rules could negatively impact the availability of free banking as banks would [...]
South Korean broadcasters team up to create streaming service rival to Netflix January 15, 2019 South Korea’s largest broadcasters are teaming up to create a streaming service to rival Netflix as the race to create on-demand platforms shows no signs of slowing. Broadcasting firms Seoul Broadcasting System (SBS), Munhwa Broadcasting Corporation (MBC) and Korean Broadcasting System (KBS) have joined with SK Telecom to set up the new venture this year. [...]
JP Morgan disappoints as Wall Street’s dire December claims another scalp January 15, 2019 US bank JP Morgan saw its bond trading revenue plunge 18 per cent at the end of last year as Wall Street’s dire December claimed another major scalp. The bank – a bellwether for the financial industry – said “challenging market conditions” caused revenue declines in credit trading, rates and commodities, as it published results [...]
Housing services provider Mears Group shares down on reports of under-pressure budgets January 15, 2019 Housing and care services provider Mears’ shares fell five per cent this morning as it forecast financial results in line with expectations in “competitive trading environments”. Spending by customers in both sectors was “broadly stable,” the company said, but added budgets were “always under pressure”. Read more: Mears Group shares up as government awards asylum seeker housing [...]