Ladbrokes share price jumps 16 per cent on merger talks with Gala Coral June 23, 2015 Shares in Ladbrokes shot up 16 per cent to 141.68p per share this afternoon, after it confirmed reports that it was in merger talks with rival gambling company Gala Coral. Ladbrokes said it was interested in merging its business with Coral Retail, Eurobet Retail, as well as Gala Coral's online businesses. It would give the two [...]
Petrofac share price soars despite £30m costs on North Sea project June 23, 2015 Petrofac's share price is up 9.37 per cent at £9.51 this morning, despite the news that it's about to book another £30m of costs from one of its major gas developments in the North Sea. The figures The company's Laggan-Tormore project, off the Shetland Islands, continues to cause problems. The company said tough operating conditions [...]
Hope of Greek breakthrough spurs market June 22, 2015 Greece’s creditors said yesterday that the country had submitted its first set of comprehensive reform proposals since negotiations began in February, causing European markets to rally on hopes that a deal would be struck within days. After a Brussels meeting of Eurozone finance ministers, European Council president Donald Tusk said the new draft of proposals [...]
Ladbrokes in takeover talks with rival Gala Coral June 22, 2015 Ladbrokes last night confirmed it was in merger talks with rival bookie Gala Coral in a deal to create the UK’s largest gambling company. The FTSE-250 listed firm, which has 2,150 betting shops across the UK, said it was weighing plans to buy Gala Coral’s 1,800 Coral betting shops, its online business and Italian brand [...]
City watchdogs expected to curb restrictions on bonus buy-outs June 22, 2015 Regulators will bow to City warnings that new pay rules threaten to undermine the UK’s competitiveness when they unveil proposals to change the way bonuses are treated when bankers quit their jobs to join a rival firm. The Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) are expected to announce today that they have [...]
Eurosceptic Business for Britain report sets the stage for Brexit June 22, 2015 A new report from business leaders is giving momentum to an increasingly well-organised group of Eurosceptics who stand to vote “no” - in favour of the UK leaving the European Union – in an in/out referendum. “Change, or go,” a new report from the Eurosceptic Business for Britain campaign group, argues that the UK “could prosper and [...]
Aggreko to split itself into two new business units after review June 22, 2015 Power services firm Aggreko is splitting in two, separating its rental business from its power business. As part of a company review, announced in March, the board has decided to move the group from its current regional structure to the new structure, which will comprise of Aggreko Rental Solutions and Aggreko Power Solutions. Aggreko, which [...]
Tullow Oil agrees $250m settlement to wrap up Ugandan tax dispute June 22, 2015 Tullow Oil will pay the Ugandan government a $250m (£158m) settlement, bringing to an end a two year dispute over capital gains tax. The London-listed company has already paid $142m, and the remaining $108m is being paid in three separate $36m installments, one of which has already been paid. The total sum will be fully [...]
Government pumps millions into aerospace technology companies June 22, 2015 Small technology firms will be able to compete for £10m in subsidies under a new government scheme announced yesterday. Speaking at the opening of a new aerospace research facility in Coventry, small business minister Anna Soubry said that the competition aimed to find “game-changing” aerospace technologies. Soubry also announced four new projects with larger firms that [...]
Capita is awarded NHS England admin contract worth up to £1bn June 22, 2015 NHS England yesterday awarded Capita the contract to become sole provider of administrative services for primary care across the UK. The four-year sole provider deal to manage and deliver services in England has a maximum value of £1bn, with an initial seven-to-ten year contract worth around £400m. Capita, along with its subcontractor Anglian Community Enterprise, [...]