EE boss Olaf Swantee takes rivals to task over complaints about BT’s takeover July 27, 2015 EE boss Olaf Swantee yesterday hit back at rivals attacking a proposed £12.5bn takeover by telecoms giant BT amid fears the deal will dilute competition in the sector. “We have about 20 of our competitors who want to use lawyers to get a certain result, rather than using engineers to help them differentiate,” he said. [...]
Alton Towers parent company Merlin Entertainment warns on profits after Smiler rollercoaster collision July 27, 2015 Alton Towers' parent company Merlin Entertainment's share price plummeted this morning after issuing a profit warning, following the rollercoaster collision last month in which four people were left seriously injured. The horrific accident, which occurred at the start of June, has caused “significantly reduced volumes” of customers at Alton Towers and “to a lesser [...]
UBS smashes expectations as net profit rises by 53 per cent July 27, 2015 UBS has beaten all expectations as its profits rose by more than 50 per cent in the second quarter of the year. The figures In an update posted this morning, UBS said net profit was up 53 per cent to SFr1.2bn (£810m) in the three months to June. Switzerland’s largest lender also reported earnings per [...]
Ryanair reports €245m in first quarter profits as it continues ascent despite turbulence July 27, 2015 Ryanair’s profits have continued their assent as traffic and revenue increased in the first quarter. The figures Total profits for the budget airline in the three months to the end of June grew by 25 per cent on last year to €245 (£173.7m), in line with estimates. Revenues were up 10 per cent to €1.65bn. In the same [...]
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 [...]