GVC Holdings increases Bwin.party offer to 122.5p to outbid rival 888 July 27, 2015 Has GVC Holdings just dealt the winning hand when it comes to Bwin.party? The gambling group has upped its offer for the site in an effort to lure shareholders away from the deal made by rival suitor 888 a fortnight ago. GVC has offered the company 122.5p per share, which will include up [...]
Fiat Chrysler faces record $105m penalty over Jeep safety issues July 26, 2015 Fiat Chrysler is set to face a record $105m (£68m) fine from the US government this week after allegedly failing to complete safety recalls covering millions of Jeep vehicles. The giant car maker is also expected to be put under the supervision of an independent monitor to oversee its safety actions as part of a [...]
Middle Eastern firm VPS Healthcare makes UK foray with promise to create 2,000 jobs and reopen Royal Masonic Hospital July 26, 2015 A Middle Eastern healthcare giant is making its first foray into the UK after pledging to reopen the Royal Masonic Hospital in Hammersmith as a new cancer centre, creating 2,000 jobs. VPS Healthcare was founded by Indian doctor and entrepreneur Dr Shamsheer Vayalil, who opened his first hospital in Abu Dhabi in 2007. The group [...]
Is the Guardian Media Group following Pearson’s lead? Top Right Group sale or IPO reportedly being considered by owners GMG and Apax days after FT sale July 26, 2015 Just days after Pearson sold off the FT Group in a deal worth £884m, the Guardian Media Group may now be following its lucrative lead. Top Right Group, the publisher of industry magazines such as Drapers, Retail Week and Nursing Times formerly known as Emap, is being prepared for a sale or float by owners [...]
Great Scotland Yard snapped up by Indian billionaire Yusuffali Kader’s Lulu Group for luxury hotel July 26, 2015 Indian billionaire Yusuffali Kader has snapped up the historic home of London's Metropolitan police and will turn Great Scotland Yard into a luxury hotel. Kader's Abu Dhabi headquartered Lulu Group has bought up the Edwardian building in Whitehall in a £110m deal with Galliard Homes, and will work with the Steigenberger Hotel Group to run the [...]
Uber’s getting sued again, and this time it’s in Canada July 24, 2015 The Canadian province of Ontario is the latest place where ride-sharing app Uber is being sued by disgruntled taxi drivers. Toronto taxi drivers have launched a class action suit seeking more than C$400m (£198m) in damages and an injunction to stop it operating. Law firm Sutts, Strosberg LLP, which is representing the taxi drivers, told Reuters [...]
Statistics can be used in many ways: The Office for National Statistics’ retail sales index is designed for everyone to understand July 24, 2015 What is important for one person isn't always the most important thing for someone else. This is why it's vital to offer different ways of looking at how things are changing in order to get the full picture. The ONS' retail sales index is one of the best indicators of the performance of the [...]
The Financial Times’ Britishness has made it global, and despite being bought by Japan’s Nikkei that’s not going anywhere July 24, 2015 Some will share the unease voiced by Will Hutton on BBC Newsnight that the Financial Times has passed into overseas ownership, especially in the scenario he painted where other media assets such as ITV and Channel 4 are targets for global players such as Comcast of the US. Having worked at the FT for [...]
Lonmin share price plummets alsmost 14 per cent as it announces 3,000 job cuts July 24, 2015 Shares in troubled platinum miner Lonmin plummeted 13.9 per cent to 68.95p in late morning trading after it announced plans to close two of its mine shafts, putting 6,000 jobs at risk. Read more: Why commodities' latest price slump complicates the backdrop for interest rate hikes In an update to the stock exchange this morning, the [...]
Pearson posts £115m loss a day after sale of FT to Nikkei July 24, 2015 A day after it sold the FT to Japanese rival Nikkei for £884m, publishing giant Pearson has posted a loss of £115m in the six months to the end of June. The figures Pearson, which after yesterday's sell-off of its flagship newspaper title will focus largely on educational publishing, said losses before tax hit £115m [...]