Aldi fined over price-fixing in Germany June 18, 2015 Aldi is among the retailers fined by Germany's competition authority over price fixing. Read more: Bargain Booze is playing Aldi at its own game The discounter is one of seven food retailers and four producers which have been fined €151.6m (£108.9m) over price fixing on "some products". Andreas Mundt, the president of Germany's cartel office, [...]
Fitbit share price opens 55 per cent higher on stock market debut June 18, 2015 Shares in fitness tracking technology maker Fitbit opened 55 per cent higher at $30.40 as it launched its initial public offering today. The company made its debut on the New York Stock Exchange this morning at $20 per share under the ticket FIT, raising $732m. It is now valued at more than $4.1bn. You can [...]
E.on confirms closure of Killingholme power station June 18, 2015 Energy giant E.on will close its Killingholme gas-fired power station in North Lincolnshire, saying market conditions are too challenging to continue operations. The decision follows a review that was prompted after a move in March to stop “normal” generation at the site, which meant releasing Killingholme's 900MW of Transmission Entry Capacity. National Grid [...]
MRSA superbug found in pork sold by Sainsbury’s, Tesco, Asda and Co-operative June 18, 2015 Pork sold by four major UK supermarkets has tested positive for MRSA CC398 – a variant of the superbug, which can cause skin disorders and serious infections in humans. Products from Sainsbury's, Tesco, the Co-operative and Asda all tested positive for the bacteria during an investigation carried out by The Guardian. Read more: Sainsbury's, [...]
Britain gets its first new private bank Hampden & Co in 30 years June 18, 2015 Hampden & Co will become the first new private bank to grace Britain's high streets in three decades when it opens its doors today. The private bank, based in Edinburgh and London, got the regulatory green light earlier this month after raising £50m in capital from 250 shareholders. It was founded in 2010 by Ray Entwistle, [...]
Playtech share price tumbles as it seeks £250m placing to fund Plus500 deal June 18, 2015 Shares in Playtech have tumbled after it revealed a share placing to help fund its £460m purchase of Plus500. The online gambling firm is seeking to raise £250m through the placing, which may also be used to fund further acquisitions. Shares tumbled as much as four per cent in early trading. "Playtech's enviable M&A track [...]
Billion Poundland: Profits up 18.6 per cent for budget retailer in first year since IPO June 18, 2015 Poundland’s profits soared 18.6 per cent in the 12 months to 29 March as it passed £1bn in sales for the first time. Read more: Poundland brings forward competition probe into 99p Stores deal The figures Underlying pre-tax profit hit £43.7m, an 18.6 per cent increase on 2014’s £36.8m. Total sales rose 11.9 per cent to [...]
Hornby raises £15m through Aim placing June 18, 2015 Troubled model maker Hornby has raised £15m, delisting and placing 16m shares on Aim, it said this morning. The company said it had placed new ordinary shares at 95p per share, and will use the cash it raised to pay off £8m of bank debt. The news came as the company announced it had steamed [...]
TalkTalk moves to obstruct BT’s £12.5bn EE deal June 17, 2015 A fresh skirmish broke out between TalkTalk and BT yesterday, after BT published a consultancy report in support of its proposed £12.5bn takeover of EE. BT chief excecutive Gavin Patterson said the combination would create a “true UK digital champion”, while EE boss Olaf Swantee hit out at rivals who are trying to block the [...]
Malmaison and Hotel Du Vin sold to Singaporeans June 17, 2015 Boutique hotel chains Hotel du Vin and Malmaison have been sold by their private equity owners to Singapore-based property group Frasers Hospitality for £363.4m. The hotel duo, which has 29 sites across the UK and is formally known as MHDV Holdings, has been sold by US group KSL Capital Partners, which bought the chain in [...]