US seed firm’s shares shoot up after boosts for biggest deal of 2016 August 23, 2016 US seed company Monsanto’s share price shot up today as the chances of a takeover by German chemical giant Bayer appeared to improve. It was today reported that the chief executives of both firms have had a series of constructive meetings in recent weeks. And a top 20 Bayer shareholder told City A.M. they thought the [...]
John Lewis looks to boost footfall with £9m investment in its beauty halls August 23, 2016 John Lewis is investing £9bn in its beauty halls to bring new brands to customers and increase footfall. The Cambridge, Cribbs Causeway and Bluewater John Lewis stores will be refurbished and the company hopes to increase footfall in these locations by around 50 per cent. The retailer also plans to invest in its Peter Jones department [...]
Statoil brought in to North Sea venture by Jersey Oil & Gas August 23, 2016 Norwegian oil major Statoil has picked up a 70 per cent stake in one of Jersey Oil & Gas and CEICO's North Sea licences. Statoil will pay a $2m (£1.5m) up-front cash payment and spend up to $25m to drill a well in the area as part of the deal. The licenced area contains two medium-risk oil prospects with an estimated 300m and 212m oil barrel equivalent resources respectively. [...]
Apple is said to be planning three new iPhones for next year August 23, 2016 Beyond the upcoming iPhone 7 due to be unveiled soon, Apple is said to be planning three new smartphones for next year, including a premium device with a bold new design feature. The tech company will make a radical overhaul of the iPhone design with a curved screen on one of the models due in 2017, [...]
Property transactions edged down in July, defying expectations of a Brexit vote-related crash August 23, 2016 The number of property transactions edged downwards in July, putting to bed concerns that the Brexit vote would result in a dramatic fall in sales. According to figures from HM Revenue and Customs (HMRC), the number of residential property transactions fell by 0.9 per cent between June and July. Read more: This is where all the [...]
Travel guide digital disrupter celebrates £1m in seed funding August 23, 2016 A digital platform that allows experts to build and share personalised travel guides is celebrating reaching £1m in seed funding. Pearlshare now boasts the support of a number of angel investors, including early-stage backers of firms such as LinkedIn, LoveFilm and Wonga. Read more: Digital disruption comes to TV production with new online "stock market" [...]
This major European bank remains committed to Canary Wharf move despite Brexit vote August 23, 2016 Some may have predicted an exodus of bankers after Brexit, but one major European player has confirmed to City A.M. it still plans on keeping a UK presence. A spokesperson for Societe Generale has confirmed the bank intends to move into its Canary Wharf base in 2019, as had been previously planned. Soc Gen also acquired [...]
Britons drink the summer away as heatwaves boost booze sales August 23, 2016 Alcohol sales soared off the back of hot weather from mid-July to mid-August, lifting the full-year performance of some drinks categories. Beer and cider volumes rose by 4.7 per cent year-on-year in the four weeks to 13 August, according to data released today by Nielsen. Consumers also shelled out more on their beer and cider drinks, with sales [...]
Where will Team GB store their medals? This challenger bank has a solution… August 23, 2016 It's a problem most of us could only dream of having – where does one store one's gold medals from the Olympics? Fortunately, a high street challenger bank has stepped up to the plate. Metro Bank has revealed to City A.M. it is offering complimentary safe deposit boxes to all of Britain’s 2016 Olympic medallists. "We [...]
Persimmon’s profit jumps as demand from customers remains “encouraging” after the Brexit vote August 23, 2016 Housebuilder Persimmon brushed off any worries the company has been hit by Brexit as it posted a strong set of half year results today. The company's share price was up 4.24 per cent in afternoon trading after it announced profit before tax jumped 29 per cent in the six months to the end of June, up to £352.3m. Revenue increased [...]