Trinity Mirror share price jumps as it nears £200m deal to buy Local World September 14, 2015 Shares in Trinity Mirror jumped on Monday morning, after it confirmed reports it was close to completing a takeover of regional newspaper group Local World for £200m, in a deal that will add more than 100 titles to its media empire. Trinity Mirror’s stock was up seven per cent to 148.75p per share in mid-morning [...]
British retailer Next is the latest FTSE giant to invite companies to compete for its audit contract September 13, 2015 Recent regulatory changes have seen blue-chip companies enter an audit merry-go-round, with big names like Shell, British American Tobacco, Vodafone and RBS changing accountants. PwC, the market leader, is expected to lose out under the new rules, but chairman Ian Powell commented: “It’s obviously a challenge to the business, but actually our experience so far [...]
Facebook gets new London headquarters on Tottenham Court Road September 11, 2015 Tottenham Court Road had better brace itself for an influx of social media aficionados, as Facebook is renting over 225,000 square feet of office space in central London for huge new UK headquarters. Property developer Great Portland Estates is leasing its entire Rathbone Square development, by the Tottenham Court Road Tube station, to the social [...]
JD Wetherspoon hits out at government’s Living Wage September 11, 2015 Pub chain JD Wetherspoon has become the most recent in a series of companies to hit out at the government’s Living Wage. In the company’s preliminary yearly results, the pub chain said the government is putting pubs under financial strain. Read more: National living wage – All businesses will end up paying it – but [...]
AIM-listed Gemfields announces $22.5m worth of deals in Colombian emerald mining projects September 11, 2015 Leading coloured gemstone producer Gemfields is expanding its emerald business to Latin America. The AIM-listed company said yesterday that it had acquired two new projects for mining the green gemstone in Colombia in deals worth $22.5m (£14.5m). Gemfields chief executive Ian Harebottle said yesterday that the firm was “delighted” about entering Colombia, calling it a [...]
Lidl plots London expansion drive with 280 stores September 11, 2015 German discounter Lidl is going after London middle class shoppers with plans to open a huge swathe of stores in upmarket boroughs, including Notting Hill and Mayfair. The retailer, which has been rapidly gaining market share, yesterday announced ambitious plans to open 280 stores in London and the M25 area. The areas it [...]
John Lewis profit dented by £60m pension charge September 11, 2015 John Lewis warned yesterday that full-year profits could be as much as 21 per cent lower on the back of pension charges and tough competition on the high street and in the grocery market. The partnership, which includes John Lewis department stores and Waitrose supermarkets, said pre-tax profits in the six months to 1 [...]
Primark opens first US store in central Boston September 11, 2015 Retail giant Primark has taken its first step into the US market, with plans to launch a total of eight stores in the region over coming months. The group opened its flagship store in Boston yesterday, having previously opened a distribution centre in Pennsylvania last week. “We have chosen the ideal location for our north [...]
Marsh agrees to take over Jelf for nearly £260m September 11, 2015 Jelf Group confirmed late yesterday that it has reached an agreement about a proposed takeover by Marsh & McLennan Co Acquisitions (known as Marsh). Jelf said insurance broker Marsh has offered 215p a share, valuing Jelf at around £258m. Jelf shares closed down 2.6 per cent to 222.65p yesterday. The [...]
Dunelm lifted by superstore expansion September 10, 2015 Dunelm posted a 13 per cent jump in full-year sales yesterday as its curtains, bed linen and other home accessories proved a hit with shoppers. The FTSE 250 homeware retailer, majority owned by the Adderley family, reported total revenues of £822.7m in the year to 4 July, up from £730.2m in 2014. Profit [...]