Taylor Swift 1; Apple 0: Tech giant backs down over payment policy after Shake It Off singer threatens to block album June 22, 2015 Apple Music has backed down on its payment policy a day after singer Taylor Swift said she would refuse to let the tech giant stream her album 1989. The Shake It Off singer had written an open letter to the company saying she would withhold her record in light of plans to offer a [...]
Afren seeks investor support for refinancing agreement through new microsite as share price stagnates June 22, 2015 Troubled oil firm Afren has set up a microsite to gain support from shareholders for its controversial refinancing of its debt in March. The site features videos with management, the refinancing prospectus, FAQs and other material related to the vote. The Nigeria-focused business agreed a $300m debt-for-equity deal after defaulting on its $15m [...]
Borealis Infrastructure putting together new Severn Trent bid June 21, 2015 Canada’s Borealis Infrastructure is in the early stages of launching a takeover bid for British utility firm Severn Trent. The investment vehicle previously bid for the FTSE 100 water company in May 2013, as part of the LongRiver Partners consortium which also included the Kuwait Investment Office and UK pension fund the Universities Superannuation Scheme. [...]
Junior market miner Savannah Resources in tie-up with Rio Tinto for new Mozambique mine June 21, 2015 Aim-listed miner Savannah Resources is embarking on a transformational partnership with major Rio Tinto to develop a new mine in Mozambique. Savannah’s wholly owned subsidiary, AME East Africa, has entered into a joint venture agreement with the FTSE 100 group, City A.M. can reveal. The two companies will develop a large-scale commercial heavy minerals sands [...]
National Grid boss Steve Holliday preparing to step down in 2016 June 21, 2015 National Grid boss Steve Holliday is to leave the company in early 2016, after 14 years with the company and nine as chief executive. Holliday previously worked at US oil major Exxon and was a non-executive director of Marks & Spencer until July last year. The FTSE 100 company may be considering a number of [...]
Tesco first quarter results and AGM: Three things to expect from Friday’s figures June 21, 2015 Tesco will update the market on its first-quarter figures – the first since reporting its biggest ever loss – while executives will face shareholders at its AGM. Here's what to expect from the supermarket on Friday. 1. The numbers will continue tumbling The supermarket’s first quarter is unlikely to tell a different story from the [...]
Lidl “ale assault” will rival supermarket beer offers in latest price war after “claret offensive” success June 21, 2015 Lidl's is embarking on an "ale assault" with a new beer range to rival the big four supermarkets after the success of last year's "claret offensive". The discounter has now switched its attention from wine to beer, and will launch more than 60 new brews onto its shelves from Monday, many priced more cheaply than [...]
Liberty concession fined for selling big cat claw jewellery June 19, 2015 A concession at luxury department store Liberty has been fined for selling jewellery made from big cat claws. Annina Vogel was today ordered to pay £2,000 in fines, after having plead guilty to selling the illegal items. The company was also ordered to pay £85 costs and a victim’s surcharge of £120. Police [...]
Regent Street is home to more global retailers than homegrown, a new report claims June 19, 2015 There are more international retailers on Regent Street than homegrown names for the first time in the iconic road's 192-year history, a new report has found. Regent Street is now home to more than 50 international brands – a quarter of which are from the US – thanks to a flurry of openings in [...]
Card Factory share price falls eight per cent after bosses sell shares June 19, 2015 Shares in discount greetings chain Card Factory slumped eight per cent to 329p per share this morning, after bosses sold shares amounting to 4.3 per cent of the company. The Wakefield-based retailer said senior management had sold off 14.8m shares at 330p per share, making the total placing worth £48.84m. Its chief exec Richard Hayes sold £9.6m worth [...]