LVMH strikes $16.2bn deal for jeweller Tiffany November 25, 2019 Louis Vuitton owner LVMH has struck a $16.2bn (£12.6bn) deal to buy iconic Fifth Avenue jeweller Tiffany after first launching a bid late last month. The $135 (£105) per share deal will see the jeweller join top name brands such as Givenchy and Christian Dior under LVMH’s umbrella. Read more: When a fat finger caused [...]
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Election megapoll: Tories hold 13 point lead over Labour November 25, 2019 Boris Johnson is holding a 13 point lead over Jeremy Corbyn according to a new mega-poll, with both main parties making slight gains in the last week. The Conservative party’s rating stands at 43 per cent, a new PA Media survey has found. Read more: Corbyn to remain neutral in second Brexit referendum Meanwhile, Jeremy [...]
Wincanton drops interest in offer for Eddie Stobart November 25, 2019 Wincanton has abandoned plans to make a possible offer for its peer Eddie Stobart Logistics. Chairman Martin Read said in a statement: “Wincanton will continue to explore acquisition opportunities to complement its organic growth but we owe it to our shareholders and other stakeholders not to take disproportionate risks.” Read more: Wincanton raises dividend as [...]
Boss of publisher Future set for £18m payday after shares surge November 25, 2019 The boss of the publisher behind Tech Radar and Four Four Two is set to pocket an £18m bonus after overseeing a twentyfold increase in the firm’s share price in the last five years. Zillah Byng-Thorne, chief executive of Future, is in line to receive roughly 1.25m shares through a long-term incentive plan after guiding [...]
Sports Direct to rebrand as Frasers Group as Mike Ashley attempts to elevate image November 25, 2019 Sports Direct International has announced it will rebrand as Frasers Group as retail tycoon owner Mike Ashley attempts to improve the company’s image. The proposed rebrand, which will be voted on by shareholders on 16 December, follows the announcement that the company is planning to launch a chain of of luxury high street stores named [...]
Uber shares slip after London licence loss November 25, 2019 Uber’s share price has slipped after falling close to a record-low in pre-market trading in response to the app’s loss of its London licence. Shares in the New York-listed company were down three per cent to $28.66 in pre-market trading, wiping almost $2bn off Uber’s market cap. However, shares trimmed losses to stand 1.4 per [...]
No emissions peak in sight as greenhouse gas levels hit record high in 2018 November 25, 2019 The levels of greenhouse gases in the atmosphere have hit a new record high, according to new data from the World Meteorological Organisation (WMO). The WMO greenhouse gas bulletin showed that average concentrations of carbon dioxide reached 407.8 parts per million in 2018, up from 405.5 parts per million in 2017. Read more: Coal powered [...]
UK marketing budgets hit five-year low as Brexit uncertainty weighs November 25, 2019 Marketing budgets at UK firms have fallen to their lowest level in more than five years as ongoing political uncertainty continues to take its toll. On average, marketing budgets slipped to 9.3 per cent of overall company revenue this year, down from 11.4 per cent in 2018, according to research firm Gartner. Read more: AI [...]
TSB to slash up to 400 jobs as it shutters stores in cost-cutting plan November 25, 2019 TSB has announced plans to close 82 branches next year and slash up to 400 jobs as part of a strategy overhaul aimed at saving £100m by 2022. Unveiling a new three-year strategic plan, chief executive Debbie Crosbie today said the savings would help deliver a 15 percentage point improvement to the bank’s cost to [...]