Dairy lost over £10m before being gobbled up by Müller November 5, 2024 A Lancashire diary slumped to a loss of more than £10m in the year before it was acquired by milk and yoghurt giant Müller, it has been revealed. Yew Tree Diary has reported a pre-tax loss of £10.2m for the 12 months to 31 March, 2024. The loss comes after the business made a pre-tax [...]
Approval nears for £15bn Vodafone and Three merger November 5, 2024 A range of investments have been proposed by the competition watchdog which, if accepted, would lead to the £15bn merger between Vodafone and Three being finally completed. The Competition and Markets Authority (CMA) has suggested upgrading the merged company’s network across the UK, including the roll-out of 5G, as well as short-term customer protections. The [...]
Burberry shares jump on Moncler takeover rumours November 4, 2024 Shares in British luxury retailer Burberry have jumped this morning on rumours that the fashion house could be a takeover target for Italian outerwear brand Moncler. Burberry’s share price rose more than seven per cent in early trades, before paring back gains to just over four per cent. Specialist fashion site Miss Tweed reported that [...]
Higher prices warning issued over Wincanton takeover as GXO handed ultimatum November 1, 2024 The £762m takeover of Wincanton by GXO could lead to higher prices for business customers in the UK, according to the Competition and Markets Authority (CMA). The watchdog has issued its initial findings on the deal which saw the Wiltshire-based business taken over by logistics giant GXO and delist from the London Stock Exchange earlier [...]
Barclays completes £600m Tesco Bank takeover November 1, 2024 Barclays has completed its £600m takeover of Tesco’s banking arm after high court approval for the buyout came on 17 October. As part of a ten-year partnership between the two firms, Barclays will begin operating and managing Tesco Bank. Tesco will keep all of its existing insurance and money services activities, including ATMs, travel money [...]
Rolls-Royce sells stake in small nuclear reactor division October 29, 2024 Rolls-Royce has sold a minority stake in its small nuclear reactor division to Czech power company CEZ. The Derby-headquartered giant has handed a 20 per cent share in Rolls-Royce SMR in a deal worth hundreds of millions of pounds. CEZ plans to build the first small modular reactor at the existing Temelin nuclear plant in [...]
YouGov shares jump after revenue and profit growth revealed October 29, 2024 YouGov shares jumped 13 per cent on Tuesday as the data firm reported revenue and operating profit narrowly ahead of full-year expectations. In unaudited results for the year to 31 July, 2024, Yougov posted a three per cent organic revenue increase, with reported revenue up 30 per cent to £335.3m, driven by its recent CPS [...]
Fatface counts the cost of takeover by Next as fashion retailer enters the red October 28, 2024 Fatface slumped into the red in the aftermath of its takeover by FTSE 100 giant Next last year, it has been revealed. The Hampshire-headquartered business was acquired by the Leicester-based giant for £115.2m in October 2023. Newly-filed accounts with Companies House show that Fatface fell to a pre-tax loss of £3.2m in the 35 weeks [...]
Mike Ashley’s Frasers Group buys stake in Hudson Malta to boost global expansion October 15, 2024 Frasers Group, the empire controlled by Mike Ashley, is to expand into Malta and Africa after acquiring a “significant non-controlling” stake in a retail and distribution business. The London-listed group has invested in Hudson Malta, which has operations across 36 African countries. The owner of Sports Direct and House of Fraser said the deal reflects [...]
Simon Cowell’s talent agency YMU significantly cut loss ahead of sale October 14, 2024 The talent agency that represents the likes of Simon Cowell, Graham Norton and Claudia Winkleman significantly cut its pre-tax loss in the year before it was sold. YMU, whose clients also include Nicole Scherzinger, Stacey Solomon and Ant and Dec, has reported a pre-tax loss of 32m for 2023, according to newly-filed accounts with Companies [...]