Five numbers that explain the merger between Tesco and Londis owner Booker January 27, 2017 This morning, Tesco announced it would be making the biggest supermarket merger in UK history and would be gobbling up wholesaler Booker Group. Here are five key numbers that explain the landmark deal. £3.7bn The deal has valued Booker at £3.7bn; each Booker shareholder will get 0.861 shares and 42.6p in cash for every Booker share. [...]
Tescooker? Everything you need to know about Tesco eating Booker January 27, 2017 The UK's largest supermarket, Tesco, announced this morning that it will merge with wholesaler and convenience store supplier Booker Group. Share pries for both companies flew, with Tesco finishing the day nine per cent higher, at 206.3p, while Booker rose 16 per cent to 212.3p – above Tesco's offer price. Here's everything you need to know about the [...]
European industry fears being left behind without investment in innovation January 27, 2017 European industrialists have called for a big increase in efforts to boost innovation as they fear a rise in protectionism and trade restrictions damaging the EU’s economy. The rise in protectionism, most potently symbolised by the rise of Donald Trump as US President, has alarmed business leaders in the European Round Table of Industrialists. Kurt [...]
The Lewisham train line is opening again on Monday after last week’s derailment January 27, 2017 A 50m stretch of railway near Lewisham which was damaged when a freight train derailed earlier this week will open on Monday, Network Rail said – although it also warned commuters to check before they travel. The company, which looks after the UK's rail networks, said "good progress has been made" on repairing the line, [...]
Free magazine Sport folds after 10 years following News Corp takeover January 27, 2017 Free magazine Sport is folding after more than 10 years. Next week’s issue, number 484, will be its last, the title announced on its Twitter page this afternoon. The closure comes shortly after Rupert Murdoch’s News UK, which publishes the Sun and Times, bought Sport’s owner, Wireless Group. Read more: How revenue woes are driving [...]
Celebrities take aim at Sky in bid to keep Discovery channels January 27, 2017 Celebrities including Ronnie O’Sullivan, Jimmy White, Katie Hopkins and Colin Murray have thrown their weight behind Discovery in its battle against Sky. It emerged earlier this week that Sky customers are set to lose 12 channels including Eurosport and Animal Planet after the Discovery Channel revealed details of a spat with the media giant. Read [...]
Unite says British Airways cabin crews will stage six more days of strikes in February January 27, 2017 British Airways cabin crews will strike on six more days in February, Unite announced today, in a dispute over what the union describes as "poverty pay". New strike dates announced | British Airways to face six days of #strike action by mixed fleet cabin crew #MoreSoon pic.twitter.com/ATgp9vuJXn — Unite the union: join a union (@unitetheunion) January [...]
US consumers feel a Trump bump as confidence rises to 12-year high January 27, 2017 US consumers have greeted the arrival of Donald Trump as President with glee, as confidence soared in January to its highest level in 12 years, according to a closely watched survey. Optimism for the prospects of the world’s largest economy has risen by nine per cent year on year, according to the survey by the [...]
“Frankly I’m very angry,” says BT boss Gavin Patterson at the end of a tumultuous week January 27, 2017 The accounting scandal plaguing BT’s Italian arm has not spread to other countries, BT’s boss said today, although the firm is considering the future of its overseas operations. BT has had a tumultuous week that kicked off on Tuesday with revelations of a £530m accounting black hole in Italy and a group profit downgrade. Read [...]
As Tesco embarks on £3.7bn merger with wholesaler Booker Group, will other UK supermarkets follow suit? January 27, 2017 Tesco’s £3.7bn proposed merger with Booker, the UK’s largest food wholesaler, represents a change of commercial strategy for the supermarket giant. Following the firm’s decision to retract from some parts of their international operations, including the South Korean and Turkish arms of the business, this merger is another indication that Tesco is more comfortable operating [...]