Arris to buy Yorkshire set-top box maker Pace in $2.1bn deal April 22, 2015 Communications equipment maker Arris Group Inc will buy British set-top box maker Pace Plc in a $2.1bn cash-and-stock deal to expand into the satellite businessand boost its business outside North America. Pace shareholders will receive 1.325 pounds ($2) in cash and 0.1455 new Arris shares for each share held, the companies said last night. Arris [...]
Greece debt deadline: Syriza risks split as progress on a deal crawls April 22, 2015 Greece has enough cash to meet its debt payments into June, Eurozone and Greek officials said yesterday, quashing fears of an imminent default, as a deal to inject more cash into the debt-addled state, at a meeting in Latvia tomorrow, looks unlikely. “The liquidity situation in Greece is already a little tight, but it should [...]
Brewdog raises a glass to £25m fundraising from share sell-off April 22, 2015 Brewdog, the Scottish independent brewer, is seeking to raise £25m in funding through its own online platform. The target for the firm’s latest fundraising round, using its Equity for Punks crowdfunding tool, smashes the £4.25m it had raised back in 2013. Some 526,316 shares in the brewery have been made available to anyone who wants [...]
Historic Tesco loss sparks share price slump: Dave Lewis has to move from “drastic” to “dynamic” April 22, 2015 2007: TESCO’S PEAK MARKET SHARE 31.7% MARKET SHARE MARCH 2015 28.4% Shares in Tesco slumped by five per cent yesterday after the retail giant capped a year of profit warnings, accounting scandals and fraud investigations by posting one of the biggest losses in corporate history. Britain’s biggest supermarket made a statutory pre-tax loss of £6.4bn [...]
Deutsche Bank sets aside €1.5bn as Libor fine looms April 22, 2015 Giant German lender Deutsche Bank last night said it is putting aside €1.5bn (£1.1bn) to pay for litigation costs incurred in the first quarter of the year. But despite the extraordinary charge, the bank still expects to report a profit for the three-month period, on the back of “near-record revenues.” The figure is thought to [...]
Cost cuts and volatile currencies push up BNY Mellon’s profits April 22, 2015 Profits jumped 16 per cent at BNY Mellon in the first quarter, as the world’s largest custody bank benefited from increased foreign exchange trading. It also saw fee income rise as asset inflows improved, and managed to cut costs after coming under pressure from investors to create a leaner operation. Profits came in at [...]
Your Move: London rental prices have soared 27pc under David Cameron April 22, 2015 Residential rents in London have far outstripped the rate of inflation under the current government, according to a new report out today. Rent in the capital increased by 27.4 per cent since the last General Election, according to the latest Buy-to-Let index from estate agents Your Move and Reeds Rains. Consumer Price Inflation (CPI) increased [...]
Travis Perkins beats its target despite weakness in boiler sales April 22, 2015 Travis Perkins shares rose 2.8 per cent yesterday after Britain’s biggest supplier of building materials posted a 5.1 per cent rise in first-quarter like-for-like sales. The increase, which beat its target, was driven by growth in the general merchanting and contracts units, while its plumbing and heating division faced a 3.7 per cent fall, which [...]
Tesco’s share price is all over the place. Here’s why April 22, 2015 Shares in Tesco were up more than two per cent in early trading, brushing off the shock of a larger than expected loss of £6.38bn for the year. Despite the massive loss – the largest ever recorded by the supermarket and the sixth biggest of any UK company – investors initially remained confident in the ability [...]
McDonald’s share price jumps despite continued fall in sales April 22, 2015 The figures McDonald's share price shot upwards in early trading after the fast food giant announced a return of $1.4bn to shareholders through dividends and share repurchases. Yet the rising stock masks what was another poor quarter for Ronald and co. Sales at company-operated restaurants decreased by 13 per cent to $3.9bn in the first quarter [...]