Dairy Crest finds the right baby formula as project nears finish line July 14, 2015 Dairy Crest said yesterday that is was near to completing a project to make two crucial ingredients found in baby formula that it seeks to sell into the £7bn Chinese market. The Cathedral cheese-maker struck a deal with New Zealand dairy giant Fonterra last year to sell whey – the key ingredient in baby formula [...]
Derwent London buys back 1 Oxford Street as part of Crossrail agreement July 14, 2015 Derwent London has signed a new 150-year lease agreement with Crossrail on a £400m office and shopping development above Tottenham Court Road station. The developer is effectively buying back the site at 1 Oxford Street after having to surrender it in 2009 to Crossrail. Derwent will receive £55m on completion of scheme in around 2020. [...]
Building services group ISG is hit by another £10.5m of costs July 14, 2015 ISG warned yesterday that it expects to book another £10.5m in costs after problematic contracts forced the building services group to issue a shock profit warning in February. In a trading update for the year to 30 June, the Aim-listed firm said it has set aside £5.5m to wind down its luxury construction services arm [...]
IAG takeover of Aer Lingus given the green light by European Commission July 14, 2015 International Consolidated Airlines Group's (IAG) takeover of Aer Lingus has been given the final go-ahead by European competition regulators. Read more: Ryanair share price up after approving IAG’s offer for Aer Lingus stake The European Commission has cleared the €1.36bn (£960m) takeover following "commitments offered by the parties". British Airways owner IAG agreed to relinquish five daily slot [...]
Blockchain company Coinsilium will IPO on London’s Aim July 14, 2015 A London-based startup which invests in the technology behind digital currency bitcoin intends to float on London’s junior market in the first IPO of its kind. Blockchain investment company Coinsilium will become the first blockchain company to go public, as the burgeoning technology gains attention from high-profile investors such as Richard Branson, Paypal co-founder Peter Thiel and [...]
Match Group buys free dating site PlentyOfFish for $575m July 14, 2015 Free dating site PlentyOfFish has found a new suitor in the Match group, with the group acquiring it today for $575m. With the acquisition Match Group, the dating business subsidiary of IAC which also includes Tinder and OkCupid, hopes to bag more digitally-savvy singles, as PlentyOfFish has 3 million daily users. Sam Yagan, chief executive [...]
Oil giant Petroleum Development Oman plans huge solar farm to extract oil July 14, 2015 It sounds like the opening line of a gag: an oil giant is set to built the world’s largest solar project. An unexpected alliance will have Petroleum Development Oman, the country's state oil company, teaming up with Californian solar power startup Glasspoint to build a solar plant with capacity for more than a gigawatt of [...]
Sir Howard Davies finally takes up his role on RBS’ board July 14, 2015 It's happened: Sir Howard Davies, erstwhile chair of the Airports Commission who had to put off his appointment to the board of Royal Bank of Scotland (RBS) to put out his final, controversial, report, will finally take up his position with immediate effect, the bank said this morning. In a statement this morning RBS said [...]
Dragon Oil share price rises as it shrugs off global oil price rout maintaining investment spend as production rises July 14, 2015 Dragon Oil has said it maintained capital expenditure and increased oil production in the six months to June, in the face of a global oil price rout that's forced a number of similar companies to cut investment spending. Read more: Dragon Oil shareholders breathing fire over £3.7bn ENOC takeover bid But shares in the Turkmenistan-focused oil [...]
Carillion trading stays strong despite pre-election jitters July 14, 2015 Carillion chief executive Richard Howson could be forgiven for sporting a slight smirk. After Balfour Beatty insisted it didn't need a £3bn merger with the construction giant last year, then issued a profit warning last week, it's a different story for its prospective benefactor, which this morning said it expected a significant increase in first-half revenue. It also [...]