Intu sells retail park to New River REIT for £40m November 25, 2019 Retail landlord Intu has sold a Northern Ireland retail park to property investment trust New River REIT for £40m. The sale of Sprucefield Retail Park in Lisburn brings Intu’s year-to-date disposals total to £268m, as the shopping centre operator aims to fix its balance sheet. Read more: New River REIT swings to a loss on [...]
Uber ban: London business groups mourn ‘dark day’ November 25, 2019 Business groups have slammed the decision to not grant Uber a new operating licence in London, with one think tank calling it a “total disgrace”. Transport for London (TfL) announced this morning it had not renewed Uber’s licence, after a long-running battle over the company’s safety record. Read more: TfL bans Uber from London after [...]
Software firm Cerillion posts record results thanks to booming telecoms demand November 25, 2019 London-based software firm Cerillion today hailed a record set of full-year results after it secured a string of major new contracts amid growing demand. Read more: London software firm Kape snaps up US cybersecurity company for $95m Cerillion posted an eight per cent rise in revenue to £18.8m in the 12 months to the end [...]
Broker Finncap reports jump in first half turnover thanks to M&A boost November 25, 2019 Finncap has reported a jump in turnover for the first half amid “very testing market conditions”, with the broker boosted by strong performance of its M&A division. The figures The company reported a jump in turnover of just over 56 per cent in the six months to 30 September. Turnover hit £14.2m during the period, [...]
TfL bans Uber from London after ‘pattern of failure’ leaves passengers at risk November 25, 2019 Transport for London (TfL) today effectively banned Uber from the capital, saying the company was not a “fit and proper” operator. TfL said safety breaches had “left passengers at risk” and that Uber did not have “a robust system for protecting passenger safety”. It added that a “pattern of failure” was behind its decision to [...]
The Restaurant Group shares fall as Wagamama reports slowing growth November 25, 2019 Wagamama owner The Restaurant Group suffered a share price drop this morning after the Asian fusion chain reported slowing sales growth in the second quarter. Like-for-like sales growth was 6.3 per cent in the UK, less than half the 12.9 per cent growth reported in the first quarter of the year. Read more: The Restaurant [...]
Uber rivals sharpen their knives after ride-hailing app loses London licence November 25, 2019 Uber’s biggest London competitor has accused the company of having a “toxic corporate culture” and for being a habitual regulation dodger in the wake of the app losing its London operating licence. The announcement to ban the app came this morning in a sensational decision, which saw TfL find that Uber was “not fit and [...]
Novartis agrees $9.7bn deal for US heart drug maker November 25, 2019 Novartis has announced it will buy American drug company the Medicines Co for $9.7bn (£7.6bn) in the hope its new cholesterol drug Inclisiran will reshape the heart medicine market. The Swiss drugmaker is paying $85 per share, a 24 per cent premium on the Medicines CO’s Friday closing price of $68.55. Read more: Novartis agrees [...]
Labour policies could cause run on sterling, says think tank Cebr November 25, 2019 A Labour government could cause a run on the pound due to market fears over the party’s stewardship of the economy, a leading economic think tank has said. Douglas McWilliams, director of the Centre for Economics and Business Research (Cebr), called Labour’s plans to raise £83bn a year through higher taxes by 2023-24 “improbable”. Read [...]
Retail sales improve in run up to Christmas November 25, 2019 UK retailers saw sales improve in the year to November after six months of decline as high street stores gear up for the crucial Christmas trading period. Retailers reported largely unchanged sales volumes this month, driven by strong grocery sales, and the industry expects growth to return in the year to December. Read more: Shoppers [...]