Galliford Try rejects takeover bid from rival Bovis Homes May 27, 2019 Housebuilder Galliford Try has rejected a takeover bid from rival Bovis Homes, saying the offer undervalued the firm’s business and was not in the interests of shareholders. Read more: Bovis Homes Group in talks with Galliford Try over housebuilding merger Galliford Try confirmed it had received an offer from Bovis for its Linden Homes and [...]
Nasdaq pulls out of Oslo Bors race leaving the way clear for Euronext May 27, 2019 Nasdaq has bowed out of the race for Norwegian exchange Oslo Bors, leaving the way clear for pan-European exchange Euronext to pursue its bid. Euronext received approval from Norway’s finance ministry earlier this month to buy more than 50 per cent of Oslo Bors for 158 Norwegian crowns per share, effectively blocking Nasdaq’s bid. Read [...]
EU stocks open up positive after election results allay investor fears May 27, 2019 The European stock market enjoyed a positive open this morning after EU election results failed to show a surge in populist right-wing parties. Euro Stoxx is up 0.30 per cent at the time of writing, while the FTSE has enjoyed a 0.65 per cent bounce. The French Cac and German Dax are up 0.17 per [...]
Renault board examining £28bn merger proposal from Fiat Chrysler May 27, 2019 The board of French carmaker Renault are studying a proposed £28bn merger plan put to them by American-Italian rival Fiat Chrysler (FCA) today. The deal would create the third-largest car company worldwide behind Japan’s Toyota and Germany’s Volkswagen with sales of 8.7m per year. Investors in both companies welcomed the proposed deal which aims to [...]
Greek bond yields fall to record lows as country heads for snap elections May 27, 2019 Greek Prime Minister Alexis Tsipras has called a snap election following his party’s defeat in the European Parliament elections, sparking a fall in government bond yields. Syriza, the left-leaning party that won power in 2015 following backlash against economic reforms, suffered a defeat to the conservative New Democracy party, with results showing Tsipras’ party trailing [...]
Huawei founder Ren Zhengfei says China should not retaliate over US trade ban May 27, 2019 Huawei’s founder has slammed US President Donald Trump over new trade restrictions on his firm, but insisted China should not retaliate against the measures. Ren Zhengfei admitted new laws effectively banning US companies from doing business with Huawei would hamper the firm’s growth, but said Beijing was unlikely to retaliate against American rival Apple. Read [...]
Grannies head back to work as the number of over-70s in employment soar May 27, 2019 The number of over-70s working during what would otherwise be their retirement has more than doubled in the last ten years as pensioners try to supplement their incomes, new figures show. Around one in 12 of Brits over 70 are choosing full or part-time employment over full retirement, analysis from over-50s jobs and volunteering site [...]
EU election results: Tories and Labour suffer heavy losses as Brexit party tops scoreboard May 27, 2019 Labour and the Tories have suffered a humiliating defeat in the European elections, having haemorrhaged votes to Nigel's Farage's Brexit party which won 29 seats in the European parliament. The Tories had one of their worst nights in electoral history, winning just four seats in the European Parliament and coming fifth place overall. Labour also performed badly, winning just [...]
German index provider Solactive invests in UK proxy firm Minerva Analytics May 27, 2019 German index provider Solactive has taken a stake in UK proxy firm Minerva Analytics. The deal will allow Minerva, which is based in Essex, to expand its research and client service capability through Solactive’s offices in Frankfurt, Hong Kong and Toronto. Read more: Interserve wins support of another proxy adviser as crunch vote beckons Minerva, [...]
Philip Hammond warns Tory leadership candidates against pursuing no-deal Brexit May 26, 2019 The Chancellor Philip Hammond has warned prospective Tory leaders not to ignore parliament by pursuing a no-deal Brexit. A number of leadership candidates, including bookies’ favourite Boris Johnson and former Brexit secretary Dominic Raab have made it clear they would walk away from negotiations and leave the EU without a deal on 31 October if [...]