Tullow facing delays at Kenyan projects June 26, 2019 Tullow Oil said today it expects a project in Kenya to be delayed as it was forced to go back to residents. The company said the delay was down to Kenyan authorities demanding more consultation with the local community. It expects the consultations will be submitted in the second half of the year. It had [...]
Barrick sticks by offer for Acacia June 26, 2019 Barrick Gold has today stood by its offer for Acacia Mining, saying that the London-listed firm had overstated the value of its assets. Barrick, which is the biggest shareholder in the company, said last month that it was mulling a bid which valued Acacia at $787m. The bid was questioned as Barrick valued the firm [...]
Asset manager H20 says redemptions are falling after it was hit by a wave of outflows June 26, 2019 Under fire asset management firm H20 said today that there had been “substantial inflows” of funds in recent days and redemptions had fallen to five times less than they were at their peak last Friday. The firm had been hit by a wave of clients withdrawing their money after the Financial Times last week questioned [...]
European Commission launches antitrust probe into Broadcom June 26, 2019 The European Commission has opened an investigation into whether chipmaker Broadcom abused its market position to hurt rivals in its television and modem market. Read more: Chipmaker’s shares plummet on Huawei ban hit Margrethe Vestager, the EU’s antitrust commissioner, is also set to order interim measures against the tech giant to stop its “suspected contractual [...]
Hunt: Boris Johnson’s no-deal Brexit will put Corbyn in Downing Street June 26, 2019 Boris Johnson’s “do or die” Brexit pledge risks installing Jeremy Corbyn in Downing Street, Conservative leadership Jeremy Hunt has warned. The foreign secretary hit back at his rival in the race to be Prime Minister after Johnson made it clear he would take the UK out of the EU with or without a deal on [...]
Bonmarche shares plunge 25 per cent as it U-turns on Philip Day bid June 26, 2019 Shares in Bonmarche plunged more than 25 per cent after the retailer reversed its view on a cut-price takeover offer from billionaire Philip Day due to poor trading in the first quarter. In a dramatic U-turn the French-themed womenswear chain said it now believes Day’s offer is “fair and reasonable”, and urged shareholders to accept [...]
Retailer Bathstore collapses into administration as jobs hang on the line June 26, 2019 Bathstore, the UK’s largest specialist bathroom retailer, has collapsed into administration this afternoon. The future for more than 500 jobs and roughly 135 stores lies in doubt as administrators said today they are looking to sell the business. Ryan Grant and Tony Nygate of BDO’s restructuring unit have been appointed joint administrations. BDO business restructuring [...]
The world’s most ethical luxury swimwear brand partners with the City A.M. Club June 26, 2019 One of the City A.M. Club’s partners is an ethical swimwear brand that’s changing the way people consume fashion. Naeco uses innovative techniques to turn plastic waste into quality clothing, helping to save our oceans as well as make us look great on our holidays. Members of the Club receive an incredible 25 per cent [...]
Evening Standard posts £11.6m loss as it battles with advertising squeeze June 26, 2019 The Evening Standard has reported a loss of almost £12m as it battles rising costs and a squeeze on revenue from print advertising. The daily London newspaper posted a pre-tax loss of £11.6m in the year to the end of September, marking its second consecutive year in the red. However, the figure represents a slight [...]
Pizza Express losses widen amid strain on casual dining sector June 26, 2019 Pizza Express has reported hefty losses for the full year as it battles with increased competition in the casual dining sector. The restaurant chain posted a loss of £55.8m in 2018, an increase of more than 40 per cent from £31.6m the previous year. Read more: China expansion and UK troubles take slice out of [...]