Warren Buffett gives Apple a much needed bump, disclosing billion dollar stake via Berkshire Hathaway May 16, 2016 Warren Buffett has snapped up millions of shares in Apple, giving the tech firm a much needed bump after a tough quarter for iPhone sales. The sage of Omaha has disclosed he had 9.81m shares in the firm as of 31 March in a regulatory filing for his investment firm Berkshire Hathaway on Monday. Share in [...]
CMA says BAA breakup shows how competition leads to benefits while adding further gains can be realised if runway capacity restraints can be lifted May 16, 2016 The breakup of BAA is an example of how competition can lead to benefits for business and personal customers, the Competition and Markets Authority (CMA) has said, while adding further gains can be realised if runway capacity restraints can be lifted. The CMA published an evaluation of the decision to break up BAA, which found a [...]
Liberty House to open another steelworks in June May 16, 2016 Commodities investor Liberty House is planning to re-open its seventh steelworks in as many months in June, the company announced today. The company is set to restart steel pipe and tube manufacturing at Tredegar in the South Wales Valleys, which was closed last year, and the re-opened plant will form the latest link in a [...]
HSBC is moving 840 IT jobs out of the UK May 16, 2016 HSBC is moving nearly 1,000 technology jobs out of the UK, the bank has announced. Some 840 jobs will be moved to other locations around the world, including India, China and Poland as part of its plans to cut thousands of jobs in the UK as part of a major restructure. The roles, currently based in [...]
Pfizer drowns Allergan merger collapse sorrows with new $5.2bn acquisition May 16, 2016 Shares in US pharma minnow Anacor shot up more than 50 per cent in pre-market trading in the US, after Pfizer unveiled plans to buy it for $5.2bn (£3.6bn). Under the merger agreement, Pfizer will acquire Anacor, which makes an antifungal treatment, for $99.25 per share in cash. Both companies’ boards have unanimously agreed the deal. Anacor’s share price soared [...]
Ladbrokes and Gala Coral set for merger decision from watchdog May 16, 2016 A provisional decision is expected to be announced this week on the proposed merger between UK bookmakers Ladbrokes and Gala Coral. The merger, which was confirmed in a £2.3bn deal last July, would create the UK's largest bookie. The final decision on the merger, which will form new company Ladbrokes Coral, is still expected to be [...]
How traditional banks can keep ahead of their fintech noisy neighbours in innovation race May 16, 2016 There have been plenty of reports about fintechs being bad news for banks, but in actual fact they may be the best thing to happen to traditional banks and the banking sector for a long time. No, really. Many have warned that the introduction of digitally savvy options into the retail banking sector will prove [...]
Ratings agency Fitch thinks Brexit will make Europe weaker, poorer and more populist May 16, 2016 Europe could become weaker, poorer, more politically fractured and less secure if the UK votes to breakaway from the European Union, according to ratings agency Fitch. "An exit from the EU by the UK would weigh on the economies of other EU countries and increase political risks in Europe," the group said in a new report [...]
EU referendum: YouGov polls say Britain thought to be more influential in Europe than not May 16, 2016 Britain's influence in global affairs is a key battleground in the EU referendum, with the Remain and Leave side claiming the UK's power will be larger if they win the vote. But looking beyond the arguments each side are spouting, Britain's perceived influence in European affairs is at an all-time high, according to data compiled by [...]
Licence to Tweet: Britain’s top spy agency GCHQ has joined Twitter May 16, 2016 And you thought everything had to be hush hush when it comes to the world of spying, espionage and national security? These days, you'd be wrong – Britain's top intelligence agency GCHQ has joined Twitter. Hello, world. https://t.co/SROtSsE8KB — GCHQ (@GCHQ) May 16, 2016 And got this welcome from its US counterpart. Welcome to Twitter @GCHQ! https://t.co/EmD8hGMRBv — [...]