Martin & Co’s share price jumps as company hails recovery in the lettings market September 14, 2016 Property group Martin & Co's share price jumped more than seven per cent in early morning trading as the company hailed the recovery of the lettings market after the Brexit vote and raised its interim dividend 11 per cent to 2p per share. The group said this morning that business for estate agents had been dampened by [...]
Sky invests $1m in air Drone Racing League in the UK September 14, 2016 Sky said today it has invested $1m (£757,600) to bring drone racing to its new channel next month, as it announced plans to launch the first professional drone race in UK. The distribution deal with organiser The Drone League (DRL), whose competitions allow pilots to fly drones through three-dimensional racecouses, will enable the broadcaster to put on live events and screen [...]
Pure Gym Group announces intention to float on London Stock Exchange September 14, 2016 Pure Gym Group has unveiled its IPO plans, after months of working towards a flotation on the London Stock Exchange. The company said this morning it intends to apply for a listing on the main market, and the IPO is "expected to raise gross proceeds of £190m". Pure Gym will use the proceeds to repay [...]
Mike Ashley’s Sports Direct needs a solid gameplan to rise from the ashes September 14, 2016 Sports Direct is back in the news, this time for what should be more positive reasons than their other recent appearances. We have covered how consumer perception of the brand has fallen over the past year as investigations uncovered damaging practices within the organisation. This culminated in owner Mike Ashley’s appearance in front of a select [...]
The Uber vs black cabs row proves one thing – driverless cars are the future September 14, 2016 Having digested Sadiq Khan’s 27-point plan to meddle in the taxi and private hire market, one top Uber official yesterday moaned “so much for being the most pro-business mayor in London’s history”. Uber’s frustration is understandable. Not only is the firm already battling Transport for London over proposed regulatory changes (some of which are just [...]
City Moves for 14 September 2016 | Who’s switching jobs September 14, 2016 Virgin Group The Virgin Group has appointed Amy Stirling as its new chief financial officer. As CFO of the Virgin Group, Amy will be responsible for the Group’s overall financial and risk positions as well as accounting, tax, treasury and key portfolio matters. Amy will use her expertise and experience to manage the Virgin Group finances [...]
Shareholder group thinks Ryanair chief executive Michael O’Leary is overpaid September 13, 2016 An influential shareholder body has called on investors to reject Michael O’Leary’s €2.5m (£2m) pay packet, claiming the Ryanair boss might be overpaid. Ahead of the company's AGM tomorrow in Dublin, Pirc, an advisory group which represents investors with £1.5tn of assets under management, cited a string of concerns over the independence of O'Leary's fellow board members and recommended [...]
iOS 10: Apple software update glitch causes iPhones to crash September 13, 2016 Apple is used to clean, crisp and perfectly stage-managed product launches. Unfortunately, this evening's unveiling of its all-singing iOS 10 software update didn't quite go as smoothly as the tech giant would have liked. The new operating system, which includes a new home screen and a much smarter Siri, went live at 6pm this evening, but users instantly [...]
Go Compare deal to kick off strong IPO activity September 13, 2016 Insurance outfit Esure has confirmed it will spin off its price comparison website Go Compare in a post-referendum boost to London's IPO market. Go Compare could be valued at up to £650m when it floats on the London Stock Exchange later this year, just 18 months after Esure took full control of the group in a deal [...]
Rona Fairhead quits as BBC Trust chair after Theresa May orders appointment re-run September 13, 2016 The head of the BBC Trust, Rona Fairhead has resigned after the Prime Minister has ordered a re-run of her controversial appointment process. Fairhead was appointed to take over as chair of the new BBC management structure when it launches next year by David Cameron before the referendum. However, pressure over the decision, which was taken following a [...]