European Commission could force sell-offs in the £10bn Three merger with O2 January 17, 2016 The European Commission (EC) may be about to throw a spanner in the works of Three’s planned £10.25bn takeover of O2. Having decided not to refer the decision to the Competition and Markets Authority (CMA) in the UK, the commission, the executive body of the EU, has until 22 April to make a decision on the [...]
Pure Gym enlists Rothschild as it starts to work towards an IPO which could be worth more than £500m January 17, 2016 Pure Gym, the UK’s largest gym operator, is looking to go public in a float worth in excess of £500m. City A.M. understands Pure Gym, which is controlled by American private equity fund CCMP Capital Advisors, has appointed Rothschild to advise on its options. The group, which was founded in 2009, is estimated to be worth [...]
Will the Cadbury’s Creme Egg cafe provide an eggcelent rate of return? January 17, 2016 Chocolate behemoth Cadbury had a rocky start to the year. Last week we heard that the brand has made a £10m loss on sales of its Easter lines, with £6m of that coming from customers losing their appetite for Cadbury Creme Eggs. Patriotic chocaholics were up in arms when they discovered last year that American parent [...]
The petition to get David Bowie on the £20 note has reached nearly 35,000 signatures, ahead of petitions asking for a public holiday and a state funeral in memory of the singer January 17, 2016 MPs take note, the latest petition to take the internet by storm is one asking Bank of England governor Mark Carney to put David Bowie on the new £20 note. The Bank of England is choosing a fresh face to replace economist Adam Smith on its new polymer £20 notes, and people want Bowie to be the new celebrity. The [...]
Terry Smith’s investment manager Fundsmith pays out nearly £14m to partners after revenues soar to £26.3m January 17, 2016 Partners in Terry Smith’s investment vehicle Fundsmith were paid £13.7m last year after revenues at the fund manager rose 73 per cent, to £26.3m. Total remuneration for the five partners in the year ending March 2015 was up from £9.5m between seven partners the year before. The maximum payout for a partner was £6.8m. Smith’s fund [...]
Airbus and Uber are partnering for helicopters on-demand January 17, 2016 Aircraft maker Airbus and taxi upstart Uber will partner to provide people with a helicopter on-demand service, it has been revealed. Airbus boss Tom Enders told the Wall Street Journal of the plans at the DLD conference in Germany, saying it is a pilot project due to launch in several weeks. Read more: Uber just had its billionth [...]
Alex Salmond wants to ban Donald Trump from the UK and Jeremy Corbyn wants to take him to a mosque ahead of petition debate in parliament January 17, 2016 The war of words between the former First Minister Alex Salmond and wannabe President Donald Trump escalated today, after the Scottish MP backed calls to ban the billionaire from the UK over anti-Muslim comments. The two are unlikely to become the best of friends – Trump labelled Salmond a "has-been" with an "over-inflated ego" before Christmas in [...]
Davos 2016: Who’s who at the World Economic Forum (and who’s notably absent) – from Leonardo DiCaprio to Travis Kalanick and George Osborne January 17, 2016 If it seems like Davos reads like a who’s who of the world elite, you wouldn’t be wrong. On the Swiss slopes, the annual gathering of the World Economic Forum which kicks off this Wednesday, brings together the world’s biggest politicians, business leaders and a sprinkling of celebrities to liven things up too Leonardo DiCaprio is the [...]
Piccadilly line delays: problems have continued all day due to a “temporary shortage of train operators” January 17, 2016 Forget leaves on the line, or the wrong kind of snow. Transport for London has a far more serious problem: there are severe delays on the Piccadilly line, thanks to a shortage of staff. Passengers have been advised to avoid using the line completely if at all possible. https://twitter.com/piccadillyline/status/688744543706025985 TfL said there was a "shortage [...]
Government reportedly mulling over £400m to save Tata plant in Scunthorpe amid fears steel giant will axe another 1,000 jobs in Port Talbot January 17, 2016 Whitehall is reportedly considering loaning £400m to rescue Tata’s Scunthorpe plant, amid fears that the steel giant is gearing up to reveal more job cuts at its Port Talbot plant. The Sunday Times reported over the weekend that the department for business is weighing up a £400m loan as part of a takeover by the private [...]