Rank Group and 888 Holdings still want the chance to woo William Hill for a takeover deal August 10, 2016 Rank Group and 888 Holdings have hit back at William Hill's rejection of their £3.6bn takeover offer yesterday, claiming the move would save £100m per year in cost synergies. The consortium formed by Rank, the operator of Grosvenor Casinos, and online gambling giant 888 has not given up, saying it would still "welcome the opportunity to [...]
Labour leadership contender Owen Smith wants an inquiry into working practices at Asos August 10, 2016 An urgent inquiry into working practices at online retailer Asos is necessary, Labour leadership contender Owen Smith has said. Smith today called for an inquiry to deal with employment practices at Asos, warning it is "the new Sports Direct". Writing to chair of the Business, Innovation and Skills Select Committee Ian Wright, Smith asked for consideration [...]
Stock Spirits appoints new chief executive and refocuses business on Poland August 10, 2016 Stock Spirits' activist investors will be pleased today after the company appointed a new permanent chief executive and said it is already seeing positive results from boosting its operations in Poland. The troubled Eastern European vodka maker has appointed former interim chief exec Miroslaw "Mirek" Stachowicz as its new leader, after former head Chris Heath stepped down [...]
Charitable cryptocurrency Cross-Stratum Coin to be launched next year August 10, 2016 A NEW cryptocurrency slated for release next year is set to bridge the world of digital currencies and international charity payments. The Cross-Stratum Coin (CSC), created by UK-based fintech company Cross-Stratum Mutual Community (CSMC) Asia, will utilise trading fees as a method for donation to global charities when it launches in the first quarter of [...]
Ralph Lauren shares get trendy as fashion group sets out “Way Forward Plan” August 10, 2016 Ralph Lauren’s share price shot up on Wednesday despite the luxury fashion group reporting falling turnover and profit. The firm’s performance was affected by restructuring costs associated with its “Way Forward Plan”. The figures The US company’s net revenue for the three months to 2 July came in at $1.55bn (£1.19bn), down from $1.62bn in [...]
Coal industry urges UK government to reconsider carbon capture storage August 10, 2016 THE COAL industry is urging the new government to change its stance on support for the development of carbon capture storage (CSS). The World Coal Association, which represents FTSE-listed miners such as Glencore and Anglo American, has written to business secretary Greg Clarke asking him to better support the requisite technology in the UK. CCS would remove and store CO2 emissions [...]
Perform kicks off live sports streaming service in three European countries August 10, 2016 UK-based media company Perform has launched its live sports video streaming service in Germany, Austria, and Switzerland. DAZN – inexplicably pronounced Da Zone – is described by Perform as the world’s first dedicated live sports streaming service and allows subscribers to watch games on demand. Football is expected to be the services' top draw with the English Premier League, Italy's Serie A, Frances' Ligue [...]
Air India celebrates 70th year of independence with non-stop route to London August 10, 2016 Coinciding with its India's 70th year of independence the country's national airline is set to launch non-stop flights from London to Ahmedabad and Newark. The services will commence on 15 August, reducing the journey time for up to three and a half hours, utilising Boeing 787 Dreamliners. Read more: Private jet membership set to take off in [...]
London mayor Sadiq Khan has called on Theresa May to hold off on Article 50 until next autumn August 10, 2016 London mayor Sadiq Khan has called on Theresa May to delay triggering Article 50 until next Autumn. Khan told Sky News the government should wait until after French and German elections next year. France will chose its next president in May, while Germany is not expected to vote until at least August 2017. "I lost [...]
Quantitative easing bounces back with successful round of BoE bond-buying August 10, 2016 The Bank of England's quantitative easing programme is back on track after its latest offer to buy government debt was massively oversubscribed. The Bank received offers from bond-holders to hand over more than £5.5bn worth of government coupons this afternoon – covering Threadneedle Street's daily £1.17bn budget by a factor of 4.7 to one. Officials will have [...]