UK M&A deal values more than halve as global tensions take their toll August 6, 2019 The value of merger and acquisition (M&A) deals in Europe slumped during the first six months of 2019, as geopolitical concerns took their toll on the continent’s financial services industry. In the UK investors completed 97 deals totalling £6.3bn over the first half of 2019, plunging by more than half from £13.5bn when 103 deals [...]
Neil Woodford offloads stake in Eurocell amid fire sale August 6, 2019 Neil Woodford has sold off his entire stake in Eurocell as the under-fire stockpicker battles to shore up the health of his own troubled equity income fund. The former star investor dropped his 16 per cent holding in the plastic window and door firm Eurocell last week, ramping up his fire sale after a torrid [...]
Snap looks to raise $1bn through convertible bonds August 6, 2019 Snap, the company behind messaging app Snapchat, today said it will raise $1bn (£823bn) through convertible bonds to fund investment in its platform and potential acquisitions. The social media firm posted a surge in revenue and user numbers in the second quarter after investing in mobile gaming and AR features. Read more: Snap boosts revenue [...]
Watchdog tells firms to go ‘above and beyond’ law to co-operate in investigations August 6, 2019 The fraud watchdog has told firms they will need to go “above and beyond what the law requires” if they want to co-operate with its investigations. Guidance of corporate co-operation released by the Serious Fraud Office (SFO) states that firms need to be willing to identify any individuals suspected of wrongdoing “regardless of their seniority [...]
Users of Gospel Oak to Barking line get month of free travel following delays August 6, 2019 Users of a London Overground line that has been beset by delays and setbacks have been given a month of free travel as compensation. London mayor Sadiq Khan requested free travel for the users of the Gospel Oak to Barking line, which will now be in place from 31 August to 1 October. Read more: [...]
Ryanair passenger numbers climb to 14.8m in July August 6, 2019 Ryanair’s passenger numbers grew to 14.8m In July, a nine per cent increase on the same period the year before. Ryanair carried 14.2m passengers, while Lauda, the low-cost Austrian airline acquired by Ryanair, carried 600,000. Read more: Ryanair boss Michael O’Leary warns of job losses over Brexit and Boeing woes Ryanair operated over 81,000 scheduled flights [...]
InterContinental’s first-half room revenue inches up August 6, 2019 InterContinental Hotels has reported a slightly increased first-half room revenue, but a drop in business travellers in China and protests in Hong Kong have dented demand in the region. The figures The FTSE100 group, which owns brands including Holiday Inn and Crowne Plaza, said revenue per available room (RevPAR) rose 0.1 per cent during the [...]
July 2019 worst on record for retail sales growth August 6, 2019 Last month was the worst July on record for retail sales growth, according to new data published today in the latest blow for the struggling industry. Total sales growth was 0.3 per cent in July – compared to an increase of 1.6 per cent last year- the lowest level recorded for the month since records [...]
Chaos averted as union calls off tomorrow’s Heathrow strike August 5, 2019 The 24-hour strike that was due to force Heathrow into shutdown has been called off. Unite the union had been engaged in talks with senior Heathrow personnel about averting the strikes, which would have been carried out by more than 4,000 workers, including security guards, firefighters and engineers. A Heathrow spokesperson said: “Unite has chosen [...]