Prosecco uncorks faster sales growth across Europe than champagne December 13, 2016 Prosecco sales have bubbled up 25 per cent in the UK this year despite champagne's best efforts to keep up. Champagne prices have fallen seven per cent since the European Union referendum in June, but its market value in the UK of €333m (£278m) is dwarfed by prosecco's value of €600m (£502m). Across Europe, champagne still has a [...]
London has paid £15.1bn in property taxes December 13, 2016 London has paid a massive £15.1bn in property taxes according to the Organisation for Economic Co-operation and Development (OECD). New figures from the OECD show that the UK has the highest property taxes in the world, and London pays a fifth of the total collected. Read more: Top industry groups hit out at proposed changes [...]
Man pleads guilty to TalkTalk hack involvement at Old Bailey, as teenager gets 12-month youth rehabilitation order December 13, 2016 A man has today pleaded guilty to being involved in hacking TalkTalk customers' accounts in 2015. Daniel Kelley, 19, submitted his plea at London's Old Bailey this afternoon. Earlier today, a 17-year-old who admitted to hacking offences related to the 2015 data breach was handed a 12-month rehabilitation order and had his iPhone and PC hard [...]
You’re the Bayer for us: Monsanto shareholders give nod to $66bn German takeover December 13, 2016 One of the biggest deals announced in 2016 came a step closer to completion today. Shareholders of US seeds company Monsanto gave their backing to a $66bn (£52bn) takeover by German chemicals firm Bayer. Read more: Monsanto tries to dispel seeds of doubt over Bayer tie-up as losses narrow Monsanto said that on a preliminary [...]
Hollywood Bowl reports striking sales but profit is in the gutter after IPO and Bowlplex acquisition December 13, 2016 Hollywood Bowl announced striking growth breaking through the £100m sales mark in its earnings for the year ended 30 September. The figures The UK's largest 10-pin bowling operator reported revenue increased 23.9 per cent to £106.6m this year from £86m last year. Pre-tax profit was down in the gutter by £2.4m this year to £1.2m due to one-off exceptional costs [...]
The meatiest deal of 2016? Private equity firm buys majority steak in Dutch butcher December 13, 2016 A European private equity group has announced a meaty new acquisition. Equistone Partners Europe has bought a majority stake in Group of Butchers alongside the Dutch firm’s current management. Founded in 1997 under the name Dutch Grill Specialities and headquartered in Tilburg, Group of Butchers is a producer of high-end meat products sold at supermarkets [...]
Are you travelling with the UK’s sorriest train company? December 13, 2016 As travellers commuting to the capital are thwarted by the worst strikes in decades, Southern is certainly the most hated train company right now. But what about the sorriest? And we don't just mean the weary passengers putting up with one thing after another when it comes to disruption. One genius (that name thoroughly deserved, you'll learn) [...]
Chemring parachutes in the man who turned around Avon Rubber as its new finance chief December 13, 2016 Military manufacturer Chemring has secured the services of a permanent finance chief, snatching Andrew Lewis from small-cap engineer Avon Rubber. Lewis will replace interim finance director Andrew Davies, who was babysitting the vacancy left following Steve Bowers' departure this summer to take over the finance reigns at Australian law firm Herbert Smith Freehills. Read more: Fall in [...]
De Beers’ diamond demand sparkles in 10th sales cycle despite slowdown as a result of Indian demonetisation programme December 13, 2016 Anglo American's diamond-producing arm, De Beers, had a sparkling performance in its latest sales cycle as year-on-year growth outshone a slowdown from India's withdrawal of high-value bank notes. In the 10th rough diamond sales cycle of 2016, De Beers provisionally raked in $418m (£331m), 41 per cent more than the $248m it brought in during the same cycle [...]
Watchdog slams firms for not doing enough to help those who slip into debt December 13, 2016 The City watchdog has today warned consumer credit firms could be doing more to help customers who find themselves falling behind on payments. Although the Financial Conduct Authority (FCA) noted many businesses had improved their practices since it last looked into how early arrears were handled, there were still areas where more could be done. In [...]