Cheers to that: Britain is now the “beating heart” of the global wine trade May 3, 2016 Britain has become the "beating heart" and a "giant" of the global wine industry, according to research from the Wine and Spirit Trade Association (WSTA). We'll drink to that. Britain's wine trade has more than doubled in the last decade and has become a key hub for importing and distributing wine to 124 countries across [...]
Investment banker who advised on collapsed Pfizer-Allergan merger defends “misunderstood” inversion deals May 3, 2016 An investment banker who advised Pfizer on its collapsed $160bn (£110bn) merger with Allergan has spoken out in defence of tax inversion deals, describing them as “misunderstood”. Guggenheim Partners chairman Alan Schwartz has also told how intensifying regulatory scrutiny is contributing to a slowdown in mergers and acquisitions (M&A) activity. Read more: The bitter pill of [...]
Introducing the DAO: The organisation that will kill corporations May 3, 2016 Imagine a world where companies didn’t exist. Instead of corporate entities being brought into existence through statute, networks of individuals would work, co-operate and generate wealth via DAOs – decentralised autonomous organisations. The hierarchical, centrally governed organisations we’re all so familiar with would not be needed. This is the world that the creators of the [...]
TalkTalk reveals plans to scrap separate line rental charge in UK industry first May 3, 2016 TalkTalk, the telecoms company that was last year the victim of a high profile data leak, has announced it will soon stop separating out line rental from broadband prices. The move, which will come into force in the Autumn this year, comes ahead of a crack down by the Advertising Standards Authority (ASA) on price transparency this week. The fiercely competitive [...]
Excalibur Steel and Liberty House confirm they have submitted bids for Tata Steel’s UK assets May 3, 2016 Excalibur Steel UK and Liberty House have confirmed they have submitted letters of intent to bid for Tata Steel's UK assets. They are the only two confirmed bidders for Tata's facilities in the UK, which the Indian steelmaker put up for sale at the end of March. Today marked an interim deadline in the sale, as [...]
Ooof: Twitter just hit a fresh all time low as it unveils Connect Tab, yet another new feature May 3, 2016 Poor old Twitter just can't catch a break these days, even with a new feature for users. The slow car crash that is Twitter just skidded to a new all time low, touching $13.90 as markets opened in New York after tumbling nearly three per cent. Shares last week tumbled under $15 for the first time since [...]
This is how much Leicester City’s Premier League win cost bookmaker William Hill May 3, 2016 Leicester City's victory in the English Premier League has forced the UK's biggest bookie, William Hill, to pay out its biggest ever odds in betting history. William Hill are processing their largest ever payout on the Premier League – £3m in total, of which £2.2m will be a loss. This is ten times the previous worst [...]
IBM warns of looming skills gap due to big data and analytics May 3, 2016 IBM has warned of a looming skills gap in the future because not enough people are being trained to meet an inevitable rise in companies' demand for big data and analytics. Speaking at the World Manufacturing Forum, Sanjay Brahmawar, global head and managing partner, strategic business development at IBM’s Watson Internet of Things business, said: "One of [...]
Halliburton’s share price slumps despite beating earnings expectations after $28bn Baker Hughes merger deal falls through May 3, 2016 Halliburton, one of the biggest oilfield services companies in the US, has posted a loss of $2.41bn (£1.65bn), or $2.81 a share. This time last year the company posted of $643m, or 76 cents a share. Total revenue over the quarter slid by a whopping 40 per cent to $4.2bn, while adjusted earnings from continuing operations came in at seven [...]