FTSE 250-listed Cobham’s share price soars as it agrees £4bn deal to escape the public eye July 25, 2019 Engineering firm Cobham’s shares rocketed this morning as it agreed to a £4bn take-private deal by private equity giant Advent International. Shareholders stand to receive 165p per share in the acquisition, a premium of 34.4 per cent on yesterday’s close price of 122.75p. Read more: Defence contractor Cobham finally reinstates its dividend David Lockwood, the [...]
Gin sales boost Diageo profits July 25, 2019 Guinness owner Diageo saw profits rise last year driven by sales of its Gordon’s and Tanqueray gin. The figures Net sales increased 5.8 per cent to £12.9bn and operating profit soared 9.5 per cent to £4bn, driven by organic growth. Net cash from operating activities was £3.2bn, up £164m. Earnings per share increased by 7.4 [...]
Unilever turnover slumps in cooler weather July 25, 2019 Unilever reported a slump in turnover in the first half of 2019 as cooler weather impacted ice cream sales in Europe and the US. The figures Turnover fell 0.9 per cent to €26.1bn in the first half, the company said as it reported its half year and second quarter results this morning. Second quarter underlying [...]
O2 will launch 5G network in London and five other cities in October 2019 July 25, 2019 O2 has revealed it will switch on its 5G network from October, aiming to go live in 20 towns and cities by the end of the year, including London, Leeds, Edinburgh and Cardiff. Belfast and Slough will also get 5G first in O2’s first wave of launches, as it races to bring that number to [...]
DEBATE: Could fintechs solve London’s dirty money problem? July 25, 2019 Could fintechs be the answer to solving London’s dirty money problem? Michael Harris, director of financial crime compliance and reputational risk at Lexis Nexis Risk Solutions, says YES. By their very nature, fintech firms are disruptive and have a reputation for driving change in their field. Why shouldn’t the fight against money laundering be led [...]
Tips for Boris Johnson and his new team at Number 10 July 25, 2019 When it comes to the transfer of power, the British political system is lightning fast. You must immediately move from the startup mentality of campaigning to the awesome responsibility of governing. Whether coming out of a leadership contest or a General Election, there is no transition period. Nothing can quite prepare any incoming Downing Street [...]
Africa is doing just fine, thank you July 25, 2019 If you only know Madagascar because of that animated penguins film, you’ve not been using the internet properly. But that is understandable, because the African island nation has faster internet speeds than you in the UK, France, or Canada. It has birthed a thriving call centre industry in a country that is also home to [...]
Churchill was the leader that Britain needed at the time – could Boris be the same? July 25, 2019 The new Prime Minister had never been short of confidence about his own abilities. On the day of his ascension to the highest office in the land, he wrote “I felt as though I were walking with destiny and that all my past life had been a preparation for this hour and for this trial”. [...]
Business has evolved, now it’s audit’s chance to do the same July 25, 2019 The audit of today has not kept pace with society’s expectations. Over the past 12 months, we’ve seen headlines, challenges and scrutiny over the role and value of audit. Valid concerns have been raised in the wake of events such as the collapse of Carillion, and multiple reports have been commissioned from various independent, parliamentary, [...]
Demand for retail property in London falls as sector’s woes continue July 25, 2019 Demand for retail property continued to fall across London in the second quarter of the year and is now approaching financial crisis-level lows, according to a new survey. Read more: UK retail industry battles ‘toughest ever’ trading conditions Meanwhile, demand from overseas investors has also continued to drop as Brexit looms, showed the latest commercial [...]