Valeant chief executive Michael Pearson has been ousted from the company following the share price losing 50 per cent of its value last week and flirting with a debt default March 21, 2016 Canadian drug giant Valeant has announced it's going to replace chief executive Michael Pearson. Valeant said in a statement it has kicked off a search for a new CEO, with Pearson continuing as both chief executive and director until his replacement is appointed. The firm has also named activist investor Bill Ackman, CEO of Pershing Square Capital Management, to its board of directors. Robert Ingram, chairman of [...]
YouGov share price flat after market research company reveals boost to profits and revenues for its six months ending January 2016 March 21, 2016 Share price in YouGov was trading flat after the company revealed higher revenues and profits for its six-months ending January 2016. The market research company announced that its revenues had grown to £41.5m, up 15 per cent from £36.2m for the six months to January 2015, while profits before tax had increased to £5m, up 42 [...]
NetPlay TV share price jumps 17 per cent despite year-on-year profit losses March 21, 2016 NetPlay TV, the company behind interactive gaming services including SuperCasino.com, Jackpot247.com and Vernons.com, has seen its share price shoot up today despite slight drops on its year-end financial results. The figures Operating profits for the betting company fell marginally by £0.2m in 2015 to £6.02m (down from £6.24m in 2014), NetPlay TV said this morning. The company's [...]
“Students are fans”: Metro Bank chair Vernon Hill gets an honourary professorship at Cass Business School and gives his top tips for UK students March 21, 2016 Everywhere Metro Bank's American founder Vernon Hill goes he sees fans. Hill was sworn into an honorary professorship at London's Cass Business School on Monday morning, and it's safe to say he takes the same view of students as he does of the challenger bank's customers. "Universities should definitely be thinking of their students as fans", Hill told The Capitalist [...]
BrainJuicer Group share price flat as market research company’s revenues, profits and dividend all nudged up for year ending December 2015 March 21, 2016 Share price in BrainJuicer Group was flat today after the market research company revealed a modest boost to its revenue, profit and dividend for its year ending December 2015. The company announced revenues of £25.2m, up two per cent from £24.7m the year before, while profits before tax grew to £4.5m, up five per cent from £4.3m. The [...]
Marriott International and Starwood Hotels & Resorts Worldwide sign off amended merger agreement, with Starwood shareholders now standing to gain a better cash deal March 21, 2016 Hospitality giants Marriott International and Starwood Hotels & Resorts Worldwide today revealed that they had signed off on an amendment to their merger agreement. The new deal revises the value of Starwood shares to $13.6bn (£9.5bn) in total, which is $79.53 per share or $85.36 per share after consideration from separate transaction involving Interval Leisure Group is taken into [...]
Fintech start-up Elliptic raises £3.5m to launch crackdown on suspicious blockchain and bitcoin transactions March 21, 2016 London and New York-based blockchain intelligence firm Elliptic has received $5m (£3.5m) in Series A funding to help crackdown on bitcoin crime, it announced today. Elliptic, which launched in 2013, uses graph analysis and machine learning to identify illicit activity in blockchain transactions. Blockchain, a decentralised ledger of transactions, is the technology underpinning cryptocurrencies such as bitcoin. The funding boost [...]
Three hour train journeys from London to Scotland on track as UK and Scottish government’s agree further work March 21, 2016 Three hour train journeys from London to Scotland are set to become a reality after the UK and Scottish governments agreed on the joint aim to reduce train times. The governments agreed that there needs to be further work to bring train journeys down to three hours or less, while easing the severe congestion on cross-border [...]
Pound falls after Iain Duncan Smith quits and sparks rumours of Tory civil war March 21, 2016 The pound was hit this morning after Iain Duncan Smith dramatically quit the government on Friday. Sterling fell by almost one cent against the US dollar, hitting a low of $1.4377. It also fell against the euro, dropping 0.4 per cent to €1.2803. "A bit of internal party bickering doesn’t normally impact Sterling but this [...]
Markit and IHS in $13bn merger to create “global information powerhouse” March 21, 2016 UK based analytics and market data firm Markit has agreed to a merge with US rival IHS in an all share deal to create a $13bn heavyweight. The new company will be called IHS Markit and will be headquartered in London. IHS shareholders will own 57 per cent of the company while Markit’s will hold 43 [...]