German Chancellor Angela Merkel: Greek deal still possible – and EU must engage seriously with UK on Brexit June 18, 2015 German Chancellor Angela Merkel struck a conciliatory tone on the UK's plans to renegotiate its relationship with the EU, saying the bloc must "engage seriously" with the UK's demands. During a speech to the German parliament today, Merkel said she wanted the UK to remain a "strong, active" partner with the European Union. "It's about [...]
Playtech share price tumbles as it seeks £250m placing to fund Plus500 deal June 18, 2015 Shares in Playtech have tumbled after it revealed a share placing to help fund its £460m purchase of Plus500. The online gambling firm is seeking to raise £250m through the placing, which may also be used to fund further acquisitions. Shares tumbled as much as four per cent in early trading. "Playtech's enviable M&A track [...]
Greek official: Athens cannot pay the €1.6bn it owes the IMF June 18, 2015 Greece cannot pay the IMF the €1.6bn (£1.2bn) it owes, the government has admitted. Speaking to Reuters, one of Greece’s top negotiators, Euclid Tsakalotos, said Athens was willing to make concessions, but would not cross any of its red lines, such as cuts to pensions. He said: There is no financing. We haven’t got access [...]
Billion Poundland: Profits up 18.6 per cent for budget retailer in first year since IPO June 18, 2015 Poundland’s profits soared 18.6 per cent in the 12 months to 29 March as it passed £1bn in sales for the first time. Read more: Poundland brings forward competition probe into 99p Stores deal The figures Underlying pre-tax profit hit £43.7m, an 18.6 per cent increase on 2014’s £36.8m. Total sales rose 11.9 per cent to [...]
Hornby raises £15m through Aim placing June 18, 2015 Troubled model maker Hornby has raised £15m, delisting and placing 16m shares on Aim, it said this morning. The company said it had placed new ordinary shares at 95p per share, and will use the cash it raised to pay off £8m of bank debt. The news came as the company announced it had steamed [...]
Grexit from the euro means Greece will also have to leave the EU says Martin Schulz, as Athens claims ball is in creditors’ court June 18, 2015 There is no legal route for Greece to remain in the EU if it leaves the euro, the President of the European Parliament has said. In an interview with the Guardian, Martin Schulz said the Lisbon treaty stipulated that all EU members eventually join the euro: Once you are a member of the Eurozone there [...]
Greece on the brink ahead of crunch talks: UK prepares for Grexit as Varoufakis insists quick deal is “moral duty” June 17, 2015 Eurozone finance ministers head to Luxembourg this morning knowing that another day of failed talks could see Greece default on its debts and crash out of the single currency. Today had been considered the final chance to strike a deal in time for Greece to avoid a default. The prospect of a breakthrough is [...]
TalkTalk moves to obstruct BT’s £12.5bn EE deal June 17, 2015 A fresh skirmish broke out between TalkTalk and BT yesterday, after BT published a consultancy report in support of its proposed £12.5bn takeover of EE. BT chief excecutive Gavin Patterson said the combination would create a “true UK digital champion”, while EE boss Olaf Swantee hit out at rivals who are trying to block the [...]
Zac Goldsmith says Heathrow airport expansion plan is undeliverable June 17, 2015 Conservative MP Zac Goldsmith stepped up his campaign against the expansion of Heathrow airport yesterday, and said adding to the existing site is “politically undeliverable”. The environmentalist MP for Richmond Park launched a new website, www.heathrowflightpaths.co.uk, which features on its homepage a map purporting to show the areas of London that will be affected [...]
Greek government balks at central bank’s Grexit warning June 17, 2015 With time running out to avoid a Greek default, a stark warning from Greece’s central bank proved sharply divisive yesterday. On the eve of a meeting of Eurozone finance ministers in Luxembourg, the Bank of Greece warned that the country risks a “painful” exit from the euro and even possibly the European Union if Athens [...]