Quindell’s share price falls as it receives a pre-action legal letter and the claimants want £9m in damages September 29, 2015 As if things couldn't get any worse for Quindell, the business this morning says it has received "notice of intended claim" from a group suggesting it is planning to bring a lawsuit against the troubled insurance outsourcer, with damages of £9m. The law firm is not named and the claims are not detailed, other than [...]
Boohoo’s share price rises as revenue and profits jump September 29, 2015 Boohoo’s share price climbed this morning, as the UK online retailer reported a jump in both revenue and profits. The figures The fashion etailer's revenue soared by 35 per cent in the first half of 2015, to land at £90.8m. Pre-tax profit was up to £6.3m, a rise of 39 per cent. The FTSE 250-listed [...]
Euromoney takes 10 per cent stake in Zanbato September 29, 2015 Euromoney has taken a 10 per cent stake in private capital placements platform Zabato for $5.5m (£3.6m). The California-based business, founded by Silicon Valley entrepreneur Joe Lonsdale, is designed to "address inefficiencies in private capital markets". It operates a number of different divisions including a private label platform and a marketplace. Today's investment follows a [...]
CBI distributive trades survey: Retail sales beat expectations in September September 29, 2015 British annual retail sales grew at a faster pace than expected in the year to September, with firms expecting business to pick up pace in the run-up to Christmas, industry research shows. Of the 119 firms surveyed by the Confederation of British Industry (CBI) distributive trades survey, 55 per cent expect sales volumes to increase [...]
Glencore facing race against time as debt concern grows and share price tumbles September 29, 2015 After more than £2bn was wiped off Glencore today, the company is facing a race against time, as investors signalled mounting concern over the size of its debts. The company's debt-laden balance sheet, coupled with persistently low copper prices, could mean Glencore is sitting on a ticking debt time-bomb. "The management have outlined a plan [...]
Comcast focuses on theme parks with purchase of Universal Studios Japan for $1.5bn September 28, 2015 US media conglomerate Comcast is spending $1.5bn (£999m) for control of the Universal Studios theme park in Osaka, Japan as it looks to expand its attractions business around the world. Read more: OMG! NBCUniversal invests $200m in Buzzfeed In what the company said was its largest ever international investment, Comcast will purchase 51 per cent of [...]
Recruitment firm Robert Half UK opens flagship office in The Shard September 28, 2015 The Shard has bagged itself another tenant after recruitment firm Robert Half UK launched a new flagship office in the skyscraper yesterday. The US-listed company, which has more than 340 offices worldwide, has taken 20,200 square feet of offices on the 10th floor of the building. It is consolidating its three London branches as well [...]
Oil firm Petroceltic wins investor injunction September 28, 2015 Oil firm Petroceltic was granted an injunction against activist investor Worldview Capital Management yesterday, blocking it from proceeding with an attempt to hold an extraordinary general meeting (EGM). The High Court of Ireland has prohibited Switzerland-based Worldview from going ahead with the meeting, which had been scheduled for 5 October. Worldview called for the EGM [...]
Hefty refurbishments leave Everyman cinemas with £430,000 loss in six months September 28, 2015 Everyman cinema group announced it made a loss of £430,000 despite a 31 per cent increase in revenues in the six months to 10 June. The premium cinema operator’s revenues were £8.16m, boosted by an increase in ticket sales and net spend per customer, but up from £6.2m in the first half of last year. [...]