Ascential buy: FTSE 250 media company behind Cannes Lions festival buys $69m US firm February 7, 2017 Ascential, the FTSE 250-listed media company formerly known as Emap, has agreed to buy US advisory and business services group MediaLink. The company behind the Cannes Lions advertising festival has agreed an initial cash consideration for MediaLink of $69m (£55m) plus future earnouts. The target company, which was founded in 2003 and has four offices [...]
The FTSE 250 has closed at a record high after an MPC member hinted at an impending rate rise February 7, 2017 The FTSE 250 closed at a record high and the pound surged by more than a cent in afternoon trading, after a member of the Bank of England's monetary policy committee (MPC) hinted at an impending interest rate rise. The FTSE 250 rose to 18,559.7 points, one per cent higher, while the pound was sent [...]
Is speaker John Bercow an embarrassment to the House of Commons for refusing to allow Trump to address parliamentarians? February 7, 2017 Alex Deane, a City of London common councilman, says Yes. In some ways this question is redundant as John Bercow has been a standing embarrassment to our Parliament since he became speaker, lavishing great chunks of cash on, well, his own comforts immediately after being elected – mostly by mischievous Labour MPs, but without the [...]
Rio Tinto is gifting a diamond deposit to the Madhya Pradesh government to cut costs February 7, 2017 Rio Tinto said it will gift an Indian diamond project to the government of Madhya Pradesh after stopping production there last year in order to cut costs. Under a government order signed last month, the Indian government said it will accept ownership of the Bunder mine and take on responsibility for the assets – meaning all land, [...]
St Modwen has found a buyer for its Nine Elms site February 7, 2017 St Modwen's share price climbed today after it said it had found a purchaser for its Nine Elms site. The developer's share price was up two per cent at time of writing – even though the company also reported a slide in profits. The figures In its results for the year ending 30 November, St [...]
Statoil’s shares slip on disappointing fourth quarter results, but its outlook remains positive February 7, 2017 Norwegian oil major Statoil today reported disappointing fourth-quarter earnings due in part to low oil prices. The figures The company was hit by a $2.3bn (£1.86bn) impairment charge due to reduced long-term expectations for oil prices. This impacted net operating income, which was a loss of $1.9bn compared to gains of $152m for the same period in 2015 and analysts' [...]
Gospel Oak to Barking line reopens on 27 February but more disruption is on the cards after work wasn’t completed on time February 7, 2017 Good news: the London Overground line between Gospel Oak and Barking will reopen to passengers on Monday 27 February. Bad news: despite a phased eight-month closure, the work hasn't been finished on time and more needs to be done. Work began on the £130m upgrade in June 2016. Along the 14-mile route, a number of [...]
RAF Typhoon jets launched to intercept Pakistan Airlines civilian aircraft and escort it to London Stansted Airport February 7, 2017 RAF Typhoon jets were scrambled to escort a Pakistan International Airlines plane to Stansted Airport this afternoon, the Ministry of Defence has said. "Quick Reaction Alert Typhoon aircraft were launched this afternoon from RAF Coningsby to intercept a civilian aircraft," the Ministry of Defence said. "The aircraft was intercepted and safely escorted to Stansted airport." Flight [...]
Richard Pennycook steps down as Co-operative Group chief executive February 7, 2017 Richard Pennycook, the chief executive of the Co-operative Group who was parachuted in when the company was in the worst phase of its crisis in 2013, has stepped down as chief executive, it said today. In a statement today the company said Pennycook will be replaced by Steve Murrells, who currently heads up the company's food [...]
Hurricane Energy has revealed its Lancaster field is set to outperform “conservative” estimates February 7, 2017 Hurricane Energy's said its 300m barrel estimate from its Lancaster field is now thought to be too conservative. The oil company said it expects a "material uplift" in anticipated reserves ahead of a competent persons report (CPR) which will quantify the resources at the end of the first quarter. Shares increased more than three per cent at the [...]