Sir Charles Dunstone’s Freston Road Investment to bring US pizza chain MoD to UK after Five Guys success September 14, 2015 Sir Charles Dunstone has moved from backing burger joints to pizza chains after striking a joint venture agreement to bring US restaurant chain MOD Pizza to Britain. MoD, which stands for Made on Demand, allows customers to pile as many toppings as they want on their artisan-style pizza base for the same fixed price. It [...]
Quindell share price falls after distressed companies investor Hedge fund Beach Point Capital Management beefs ups stake September 14, 2015 A US-based hedge fund has beefed up its stake in insurance group Quindell, which is being investigated by the Serious Fraud Office (SFO). Beach Point Capital Management now has a five per cent stake in Quindell, after buying more than 420,000 shares in the company on 10 September. Beach Point, whose clients include large public and corporate pension [...]
UK drug company Acacia Pharma plans £150m flotation on London Stock Exchange September 14, 2015 The UK's life sciences sector received yet another boost this morning, when Cambridge-based drug company Acacia Pharma announced its plan to float on the London Stock Exchange next month. The firm, which specialises in developing new treatments for debilitating conditions arising from surgery, intends to sell a 25 per cent stake of the company [...]
Alibaba hits back at Barron’s article which suggests share price could plunge 50 per cent September 14, 2015 Alibaba has struck back at mounting criticism of its stock's performance, taking aim at a recent Barron's cover story, which suggested its share price could drop by 50 per cent from current levels. The Barron's article describes China's struggling economy and rising competition in the e-commerce market as cause for concern and argued Alibaba's price-to-earnings ratio and [...]
Trinity Mirror share price jumps as it nears £200m deal to buy Local World September 14, 2015 Shares in Trinity Mirror jumped on Monday morning, after it confirmed reports it was close to completing a takeover of regional newspaper group Local World for £200m, in a deal that will add more than 100 titles to its media empire. Trinity Mirror’s stock was up seven per cent to 148.75p per share in mid-morning [...]
British retailer Next is the latest FTSE giant to invite companies to compete for its audit contract September 13, 2015 Recent regulatory changes have seen blue-chip companies enter an audit merry-go-round, with big names like Shell, British American Tobacco, Vodafone and RBS changing accountants. PwC, the market leader, is expected to lose out under the new rules, but chairman Ian Powell commented: “It’s obviously a challenge to the business, but actually our experience so far [...]
Facebook gets new London headquarters on Tottenham Court Road September 11, 2015 Tottenham Court Road had better brace itself for an influx of social media aficionados, as Facebook is renting over 225,000 square feet of office space in central London for huge new UK headquarters. Property developer Great Portland Estates is leasing its entire Rathbone Square development, by the Tottenham Court Road Tube station, to the social [...]
JD Wetherspoon hits out at government’s Living Wage September 11, 2015 Pub chain JD Wetherspoon has become the most recent in a series of companies to hit out at the government’s Living Wage. In the company’s preliminary yearly results, the pub chain said the government is putting pubs under financial strain. Read more: National living wage – All businesses will end up paying it – but [...]
AIM-listed Gemfields announces $22.5m worth of deals in Colombian emerald mining projects September 11, 2015 Leading coloured gemstone producer Gemfields is expanding its emerald business to Latin America. The AIM-listed company said yesterday that it had acquired two new projects for mining the green gemstone in Colombia in deals worth $22.5m (£14.5m). Gemfields chief executive Ian Harebottle said yesterday that the firm was “delighted” about entering Colombia, calling it a [...]
Lidl plots London expansion drive with 280 stores September 11, 2015 German discounter Lidl is going after London middle class shoppers with plans to open a huge swathe of stores in upmarket boroughs, including Notting Hill and Mayfair. The retailer, which has been rapidly gaining market share, yesterday announced ambitious plans to open 280 stores in London and the M25 area. The areas it [...]