Share price of Peppa Pig maker Entertainment One plummets as brokers’ sentiment falls December 8, 2015 Entertainment One's share price plummeted in late morning trade after a number of brokers either reduced their target price or downgraded the company's stock. Shares were down 11.51 per cent at 156p per share, leading the FTSE 250 lower, which was itself 0.38 per cent down at 17,290 points. Read more: eOne brings home the bacon as profits fly The company's share price [...]
What’s going to happen to the tech industry in 2016? Fewer IPOs, compressed unicorn valuation and slowing M&A activity December 8, 2015 The year 2015 was packed with fintech unicorns, blockchain hype and tech bubble fears – but what’s in store for the tech industry in 2016? M&A advisers Magister Advisors have peered into their crystal ball and offered their top predictions. The TL;DR version? Expect 2015’s “reality distortion field” to dissolve next year. Gulp. 1. Don’t hold your breath for [...]
Cenkos share price rises after it denies probe by the Serious Fraud Office over Quindell December 8, 2015 Shares in Cenkos rose 15.5 per cent to 170.4 p per share today, after the mid-tier broker and investment house said it's not under investigation by the Serious Fraud Office (SFO). Cenkos was formerly the nominated adviser to scandal-engulfed insurance services company Quindell, which is currently being investigated by the SFO over "business and accounting practices". The clarification came [...]
AB InBev’s chief exec to defend Megabrew deal with SABMiller before Congress December 8, 2015 AB InBev chief executive Carlos Brito is hoping to ease lawmakers’ concerns about the mammoth megabrew merger with SABMiller by defending the deal in front of US Congress today. The £71bn deal, the biggest ever British corporate merger, will create the world's biggest brewer, gobbling up about half the industry’s total profit. It’s estimated that [...]
FTSE 100 index opens lower on miners, including Anglo American and BHP Billiton December 8, 2015 The FTSE 100 index opened down this morning, led lower by miners. Again. The UK's blue-chip index opened 0.25 per cent down at 6,208 points, led lower by Anglo American and BHP Billiton. Anglo opened 2.76 per cent down at 358.7p per share, while BHP Billiton's stock flopped 3.53 per cent to 737p per share. Anglo American today set out [...]
Oil price drags on the FTSE 100 as airlines takeoff – London Report December 8, 2015 OPEC’S failure on Friday to agree to curb oil production weighed yesterday on the FTSE 100 index. The cartel failed to reach agreement despite a global supply glut and the strength of the dollar, which is leading to the collapse of global oil prices, with the resulting uncertainty hitting stock markets. The FTSE 100 closed [...]
UK retail sales: Online Black Friday bonanza steals limelight away from the high street December 8, 2015 High street retailers lost out in November, with sales falling into the red, as online retailers enticing shoppers with Black Friday bargains stole the show. Like-for-like retail sales fell by 0.4 per cent last month compared with November last year, when they had increased 0.9 per cent from the preceding year, according to figures released [...]
Douwe Egberts owner JAB Holding Company rivals Nestle market share with $13.9bn Keurig Green Mountain deal December 7, 2015 Drinks company Keurig Green Mountain has been taken private by coffee specialist Douwe Egberts owner JAB Holding Company in a deal worth $13.9bn (£9.2bn). JAB, an investment vehicle owned by Germany’s Reimann family, paid $92 per share in cash for Keurig, representing a premium of around 78 per cent over its closing price on 4 [...]
Gordon Brown appointed to Pimco advisory board alongside Ben Bernanke and Jean-Claude Trichet December 7, 2015 Former Prime Minister Gordon Brown has been appointed to the Global Advisory Board at investment management firm Pimco. He joins the group’s team of advisers alongside former Fed chairman Ben Bernanke and former chief exec of the Government of Singapore Investment Corporation, as well as Anne-Marie Slaughter, president and chief exec of New America, and [...]
City Moves for 8 December 2015 | Who’s switching jobs December 7, 2015 BAKER & MCKENZIE Global law firm Baker & McKenzie has appointed Andy Moody as a partner in London. He joins in early 2016 from Eversheds. Andy has acted on a wide range of commercial disputes, focusing on international arbitration. His experience is in the energy sector where he has advised on international upstream, downstream and [...]