Czech it out: Central Eastern European M&A activity is booming January 25, 2017 Mergers and acquisitions (M&A) activity slowed in the UK and across the world last year, but Central Eastern European deals came thick and fast. There Warsaw (were so) many M&A deals in the region that values totalled €86.7bn (£74bn) last year, up 62 per cent on 2015, and its highest result since 2013. The total number of [...]
British Steel is in the black for the first time since splitting with Tata January 25, 2017 British Steel is back in profit for the first time since its acquisition from private equity company Greybull Capital. Tata Steel sold its long products business, including the plants in Scunthorpe and mills on Teesside, to Greybull in June after months of talks. Now, seven months later, British Steel has ended its third quarter of 2016 in profit [...]
German business sees a surprise fall in confidence as political risk looms January 25, 2017 Confidence in businesses in Germany has posted a surprise fall to start 2017, as worries over Europe’s medium-term outlook increased, according to a long-running survey. Sentiment fell from a three-year high in December to its lowest point since September, according to a survey of over 7,000 companies by Germany’s Ifo Institute. Analysts had expected a [...]
Time Out revenue boosted by 3.1m visitors to its market in Lisbon January 25, 2017 Time Out’s revenue from its market in Portugal more than doubled last year, the media and e-commerce company today revealed. The Time Out Market in Lisbon, which opened in 2014, attracted an estimated 3.1m visitors in 2016, a 63 per cent year-on-year increase. The company believes it may be the Portuguese capital’s most popular attraction. [...]
Boeing beats expectations and plans to ramp up commercial aircraft deliveries for 2017 January 25, 2017 Boeing announced stronger than expecting earnings for its fourth quarter and has said it will top the 748 commercial aircrafts delivered last year. It did though, provide a softer sales outlook for the coming year. Read more: Airbus warns on future investment over Brexit free movement The figures The aerospace giant announced full-year revenue of $94.6bn and fourth [...]
Downing Street has confirmed the government will publish an Article 50 Brexit bill tomorrow January 25, 2017 Ministers will tomorrow publish a bill granting the government power to begin Brexit talks. The announcement comes just over 24 hours after the Supreme Court ruled that Prime Minister Theresa May would need the approval of parliament to begin negotiations with the EU. Brexit secretary David Davis had yesterday hinted that legislation could be brought [...]
Has this UK company been boosted by Donald Trump’s promise to build a wall on the Mexican border? January 25, 2017 US President Donald Trump has reiterated that he will build a wall on America's border with Mexico – and one British company seems to be benefiting. Ashtead Group is leading the FTSE 100, with its share price up by more than three per cent. The company generates 80 per cent of its revenues in the US and rents out industrial [...]
Santander’s UK profits take a beating from pound slump January 25, 2017 Santander chief executive Nathan Bostock expects this year to be "challenging" despite the Spanish bank reporting strong profit growth this morning. The figures The bank saw a four per cent rise in 2016's net profit to €6.2bn (£5.3bn) after its Brazilian operations grew for the fourth consecutive quarter. In the last quarter of 2016, the bank made net profits of €1.6bn, [...]
Optimism at two-year high ahead of Brexit for UK manufacturers as domestic demand drives morale up January 25, 2017 A boom in domestic demand has boosted optimism among British manufacturers to increase at its fastest pace for two years ahead of Brexit, according to a survey of UK businesses. More than a quarter of manufacturing firms are optimistic for prospects for the year ahead, according to the Confederation of British Industry (CBI), outweighing negative [...]
BHP Billiton lowers copper production guidance but strikes record iron ore January 25, 2017 BHP Billiton reported record iron ore production for the second half of 2016, but the Anglo-Australian giant has lowered its copper targets because of pay disputes and power outages. Production of iron ore increased four per cent to 118m tonnes in the half-year to December 2016 as the continued ramp-up of additional capacity at its Jimblebar mine helped push production of Western Australia [...]