Consumers could face higher prices after Paypal’s $2.2bn iZettle merger, watchdog warns November 26, 2018 Paypal’s $2.2bn (£1.7bn) takeover of mobile payment company iZettle could drive up prices for customers, the UK competition watchdog has said. The merger between the technology giant and the Swedish startup could also result in a lower quality of service, found the Competition and Markets Authority (CMA), which published its decision today. If Paypal hadn't launched a [...]
Trump threatens to close Mexico border permanently after migrants storm crossing November 26, 2018 President Donald Trump today said the US will close its border with Mexico permanently if needed as he repeated calls for a wall between the two countries. “Mexico should move the flag waving Migrants, many of whom are stone cold criminals, back to their countries,” Trump said today on Twitter. “Do it by plane, do [...]
Russian and Ukrainian markets shaken as feuding escalates after naval clash November 26, 2018 Russian and Ukrainian assets have both tumbled after the Ukrainian Navy said the Russian military had opened fire on several of its ships, wounding six sailors and subsequently seizing the vessels. The Ukrainian hryvnia tumbled as much as 0.61 per cent against the dollar, and government bond yields jumped after a significant price fall. Russia’s [...]
Retail magnate Mike Ashley prepares to give evidence about high street struggles to MPs November 26, 2018 Retail tycoon Mike Ashley is to give evidence about the woes facing the high street in front of a parliamentary committee next week after demanding an audience with MPs. Sports Direct confirmed today that the billionaire businessman is to face Westminster’s Housing, Communities and Local Government Committee for an hour-long session next Monday. The announcement [...]
Flybe shares head skyward as it braces for bidding war November 26, 2018 Flybe shares soared over 23 per cent in trading this morning on reports it has landed at the centre of bidding war between industry rivals Sir Richard Branson and Willie Walsh. Walsh’s International Airlines Group (IAG) is in hot competition with Branson’s Virgin Atlantic, according to reports over the weekend which have sent the budget [...]
The new face of piracy: cyber crime is threatening the shipping industry November 26, 2018 When you think of the word pirate, you probably start to imagine the yo ho ho, Jack Sparrow-sort of buccaneer from Disney movies. Modern-day piracy comes in two varieties. There’s the digital kind: people illegally downloading music or films from the internet. Then there’s the more traditional kind: groups who hijack sea vessels to steal [...]
Ditch expensive Christmas TV ads and switch to influencer marketing instead November 26, 2018 Last year, John Lewis spent £7m on its Christmas ad campaign. This year, it announced that its profits had crashed by 99 per cent. Debenhams also warmed the hearts of the Christmas consumers in 2017 with a sumptuous, but expensive, festive ad. In June, it announced that it would see its third consecutive profit slump. [...]
RewardStyle founder Amber Venz Box talks influencer marketing and fashion November 26, 2018 Fashion retail is a risky business. Like many sectors, it has been disrupted by the rise of the internet, as consumers increasingly shop on their phones rather than on the high street. So with fewer people browsing in shops, there’s a question of how best to advertise a new dress or a trendy handbag. Traditional [...]
Melrose share price tumbles following low-ball bids for GKN unit November 26, 2018 Turnaround specialist Melrose led FTSE fallers today as its share price fell over six per cent following reports of disappointing bids for one of its GKN units. Melrose, which bought aerospace company GKN in an £8bn hostile takeover earlier this year, was reportedly forced to reconsider its options after it was low-balled by bids for [...]
Boss says BDO still on the lookout for deals as it confirms ‘advanced’ merger talks with Moore Stephens November 26, 2018 The managing partner of BDO said the firm is still on the lookout for further mergers and acquisitions, after it confirmed plans to join forces with audit sector rival Moore Stephens. The firms have confirmed they are in “advanced” merger talks, which they say would “improve competition and quality” at the top end of the audit [...]