Chinese firm HNA takes 25 per cent stake in Hilton Hotels October 24, 2016 Chinese conglomerate HNA Group have announced it will buy 25 per cent of Hilton Worldwide Holdings Inc from Blackstone Group L.P for $6.5billion dollars. The latest move by a Chinese company into Western assets will see HNA pay $26.25 per share in cash for the stake, 15 per cent above Hilton's closing stock price on [...]
Glencore lands thermal coal supply deal for $95 a tonne with Japanese utilities in one-third price boost October 24, 2016 Glencore has signed a year-long contract to supply Japanese utility companies with Australian thermal coal for almost $95 a tonne. The spot price of Australian thermal coal, which is the Pacific benchmark, reached $100 last week for the first time in four years. The material is mostly used in power generation and has rallied to almost double [...]
ITV announces 120 job cuts as part of £25m savings push after Brexit vote October 24, 2016 ITV is cutting 120 jobs, with the broadcaster blaming “political and economic uncertainty”. The company’s chief executive, Adam Crozier, announced he would be seeking £25m of cuts when reporting its half-year results. Read more: ITV inks new deal to screen Britain's Got Talent and X Factor until 2019 ITV said the cost savings were part [...]
Nicola Sturgeon has hit out after “frustrating” Downing Street summit on the UK’s Brexit plans October 24, 2016 Scottish first minister Nicola Sturgeon has blasted Theresa May's approach to Brexit after attending a Downing Street summit for the leaders of devolved authorities. Sturgeon called for a flexible Brexit deal earlier today, but left the first Joint Ministerial Council meeting for more than two years claiming she had learned little. After two hours of [...]
Online broker TD Ameritrade in $4bn takeover of rival Scottrade October 24, 2016 TD Ameritrade has agreed a $4bn (£3.2bn) deal to acquire Scottrade Financial Services, bringing together two online brokerage giants. Under the deal, TD Ameritrade’s biggest shareholder, Toronto-Dominion Bank (TD Bank), will acquire Scottrade’s online bank for $1.3bn in cash. Read more: Interactive Investor in takeover to form UK's second largest online broker Immediately after that [...]
No deal: Belgium shuts down EU-Canada trade agreement over Wallonia concerns October 24, 2016 A landmark EU-Canada trade pact was thrown into chaos last night after Belgium failed to strike a deal with its rogue Wallonia region, prompting one of the country’s leading politicians to brand it a “laughing stock”. The impasse left the EU scrambling to save the ambitious trade agreement which had been seven years in the making. Last [...]
The weirdest things and most unlikely people Donald Trump has insulted on Twitter October 24, 2016 Today the New York Times took two WHOLE pages to print 281 people, places and things Donald Trump has insulted on Twitter. The full list is quite something. As the race enters its final few weeks, many have suggested that the polls are closer than they seem. If true, that means there are sure to [...]
House prices in this London borough fell by £3,000 a day last month October 24, 2016 UK house prices might be marching ever upwards, but there's one section of the UK where growth is faltering: the top end of London's market. In recent months growth in so-called prime central London has faltered, partly thanks to the Brexit vote and partly thanks to waning interest from foreign buyers. Now analysis of Land [...]
Manufacturing exports surge on weak sterling but higher costs are on the horizon October 24, 2016 Manufacturing exports have jumped to their highest level in two and a half years in a Brexit boost for the sector following the dramatic slide in the value of sterling. The CBI's Industrial Trends survey also found UK firms were the most competitive they have ever been up against their European counterparts since the introduction [...]
Fitch puts British American Tobacco on rating watch negative after buyout offer of Reynolds American October 24, 2016 Ratings agency Fitch has put British American Tobacco (BAT) on a rating watch negative after it offered to buy out Reynolds American. It warned that the debt required for funding the deal would mean it could not keep its current A credit rating. A similar announcement was made by fellow agency Moody's on Friday, who [...]