Watchdog pauses investigation into First Group’s West Coast Rail franchise November 15, 2019 The UK’s competition watchdog has paused its investigation into the decision to award the West Coast Rail franchise to First Group after the company offered to make changes to the deal. The Competition and Markets Authority (CMA) said last week it would escalate its probe into First Group’s joint venture with Trenitalia on the route unless [...]
China condemns ‘attack’ on Hong Kong minister in London November 15, 2019 The Chinese government has condemned what it called an “attack” on Hong Kong’s justice minister after she fell to the ground while surrounded by furious pro-democracy protesters in London last night. Teresa Cheng, who was in London to promote Hong Kong as a dispute resolution and deal-making hub, was circled by protesters shouting “murder” and [...]
Labour’s BT plans force Talk Talk to pause sale of Fibrenation November 15, 2019 Broadband provider Talk Talk’s chief executive Tristia Harrison said that Labour’s plans to nationalise BT’s Openreach arm had forced the company to pause negotiations over the sale of its Fibrenation sister business. On a call with reporters, Harrison said: “Negotiations are going very well, but the news overnight means that we are all pausing, considering [...]
Amazon to appeal Pentagon decision to award Microsoft $10bn cloud contract November 15, 2019 Amazon will appeal the US department of defense’s decision to award Microsoft a major cloud contract. Amazon, which already provides cloud computing for the Central Intelligence Agency, had been favourites to win the contract worth $10bn over 10 years. Read more: Nike pulls clothes and shoes from Amazon amid digital push The company has now [...]
Fuller’s takes a hit on sale of brewery business November 15, 2019 UK pub chain Fuller, Smith & Turner warned this morning that the costs associated with the sale of its brewery business to Japanese beer giant Asahi have been higher than expected. Shares in the company fell 5.69 per cent to 990.24p after it said profit for the full year ended 28 March is expected to [...]
Media group Future buys Barcroft Studios as results beat expectations November 15, 2019 Media company Future has acquired production company Barcroft Studios for £23.5m, in a deal announced alongside the group’s annual results, which beat analysts’ expectations. Future, which owns brands including Techradar and PC Gamer, reported an operating profit of £26.7m for the year ending 30 September, a 404 per cent increase. The company’s revenue jumped 70 [...]
Eddie Stobart agrees £55m rescue deal as losses mount up November 15, 2019 Eddie Stobart has issued a warning to shareholders that its expected losses for the six months ending 31 May stand at more than £12m. The British haulier delayed the publication of its results after undertaking a review of its accounts following the discovery of a £2m error in its 2018 results. The company’s shares were [...]
Talk Talk back in the black as City Fibre circles broadband arm November 15, 2019 Talk Talk revealed a £4m half-year profit today amid reports that it is close to a deal to sell its Fibrenation sister company to Cityfibre, the UK’s largest alternative broadband network provider. Sky News reported that although sources warned that the deal had not yet been finalised, there was a chance the agreement could be [...]
Carpetright accepts cut-price £15m rescue deal from Meditor November 15, 2019 Carpetright has accepted a cut-price £15.2m bid from its largest shareholder amid fears it cannot pay off its debt pile. Shares in the company soared more than 14 per cent this morning after its directors unanimously recommended the 5p per share offer from Meditor, a 30 per cent shareholder. Read more: Major shareholder swallows £41m [...]
Kier’s COO leaves with immediate effect November 15, 2019 Kier’s chief operating officer has left the business with immediate effect as the struggling outsourcer rang the changes at the top amid reported interest from private equity. Claudio Veritiero, who was appointed COO only in August of 2018, has quit the company today. Read more: Private equity firm circles Kier as it looks to raise [...]