McDonald’s misses estimates October 22, 2019 Wall Street investors found McDonald’s stock tough to swallow this afternoon after the fast food giant missed quarterly earnings and revenue expectations. Shares in the chain dropped three per cent in pre-market trading, as same-store sales in its home US market fell below expectations amid intense competition during the last three months. The firm reported [...]
Live update: Govt threatens to pull Brexit bill if MPs vote down timetable October 22, 2019 The Prime Minister has urged MPs to back his Brexit bill to ensure the UK leaves the EU by 31 October, saying it will allow the country “to heal”. Speaking in the Commons for the first time since he was forced to send a letter requesting an extension, Boris Johnson bemoaned the passing of the [...]
What’s in the WAB? Government’s Brexit bill explained October 22, 2019 Today MPs will begin debating the government’s Withdrawal Agreement Bill – covering everything from the £39bn divorce settlement to EU citizens and setting out the path for the UK’s future relationship with the EU. But what is in it – and will it pass? What is the WAB? Brexit brings out the best (or worst) [...]
Boris Johnson’s Brexit deal faces first of three crucial days October 22, 2019 Prime Minister Boris Johnson’s Brexit deal will face its first parliamentary hurdle today with the PM facing a tough battle to deliver his promise to take the UK out of the EU by 31 October. Johnson is attempting to push through the Withdrawal Agreement Bill, which was published last night, in just three days. Read [...]
Softbank prepares to take control of Wework October 21, 2019 Softbank is reportedly planning to take control of troubled office space provider Wework. The Japanese investor, which already owns about a third of the company, plans to spend between $4bn and $5bn on new equity and existing shares, in a deal that will value Wework between $7.5bn and $8bn. Read more: Wework creates committee to [...]
Peaky Blinders maker Endemol Shine nears takeover deal October 21, 2019 Endemol Shine, the TV company that makes British TV hits such as Masterchef and Peaky Blinders, is reportedly close to a takeover by French firm Banijay. Disney and US private equity company Apollo Global Management, which jointly own Endemol Shine, are expected to close the deal with Banijay in the next few days. Read more: [...]
Saks owner Hudson’s Bay agrees to go private October 21, 2019 Hudson’s Bay Company (HBC), the owner of New York department store Saks Fifth Avenue, has agreed to be bought by a group of investors led by its executive chairman. The investor consortium led by Richard Baker, who currently owns 6.32 per cent of the firm, has made an offer to buy the shares of HBC [...]
Brexit: Scottish court delays decision over Benn Act letter October 21, 2019 Scotland’s highest court has delayed making a decision about whether the Prime Minister fully complied with the law when he wrote an unsigned letter requesting a Brexit extension. Boris Johnson was forced to write a letter to European Council president Donald Tusk after losing a key vote in the Commons on Saturday afternoon. The unsigned [...]
Industrial real estate funds to double inflows October 21, 2019 Global industrial real estate funds could double the amount they raise this year as investors target warehouse and logistics assets. Research showed that specialist industrial property funds are projected to raise $6.4bn in 2019, up 120 per cent from inflows of $2.9bn last year driven by the yield available on logistics property. Read more: Land [...]
Brexit secretary tells MPs: Back landmark Brexit bill if you want to leave EU by Halloween October 21, 2019 The government has confirmed it will bring forward its “landmark Brexit bill”, as it continues to press ahead with its aim of leaving the EU by 31 October. The bill, which will enshrine Boris Johnson’s 11th-hour deal in law and pave the way for a Hallowe’en departure from the EU, is being introduced today ahead [...]