Private equity giant Carlyle dragged into dispute over Taylor Swift’s past hits November 15, 2019 Taylor Swift has begged private equity titan The Carlyle Group for help after accusing two record executives of exercising “tyrannical control” over her music and barring her from performing past hits. Swift appealed to Carlyle and her fans to help her secure ownership of six of her past albums, accusing her former record label of [...]
China condemns ‘attack’ on Hong Kong minister in London November 15, 2019 The Chinese government has condemned what it called an “attack” on Hong Kong’s justice minister after she fell to the ground while surrounded by furious pro-democracy protesters in London last night. Teresa Cheng, who was in London to promote Hong Kong as a dispute resolution and deal-making hub, was circled by protesters shouting “murder” and [...]
Media group Future buys Barcroft Studios as results beat expectations November 15, 2019 Media company Future has acquired production company Barcroft Studios for £23.5m, in a deal announced alongside the group’s annual results, which beat analysts’ expectations. Future, which owns brands including Techradar and PC Gamer, reported an operating profit of £26.7m for the year ending 30 September, a 404 per cent increase. The company’s revenue jumped 70 [...]
Exclusive: Questions over Chilango’s future after burrito chain calls in restructuring firm RSM November 14, 2019 Mexican chain Chilango, best known for its “Burrito Bonds”, is in talks to secure its long-term future with restructuring firm RSM and is more than six weeks late posting its accounts. City A.M. understands from a source familiar with the discussions that the firm is considering all options including administration or a company voluntary arrangement [...]
Softbank-backed fintech Oneconnect chooses New York over Hong Kong for IPO November 14, 2019 Oneconnect, the fintech arm of Chinese financial conglomerate Ping An, has chosen New York over Hong Kong for the launch of its initial public offering (IPO). The company, which is backed by Softbank, filed a prospectus for an IPO on Wednesday and plans to list its shares on NASDAQ. Read more: Alibaba poised to launch [...]
Private Equity firm 3i posts 10 per cent return November 14, 2019 Listed private equity firm 3i has reported an increased half-year return of 10 per cent, boosted by good trading performance across its portfolios. The company notched up a total return of £767m for the first six months of the year, a 10 per cent increase on the previous year’s figure. Read more: Cobham buyer Advent [...]
Stobart Group shares fall after dividend suspended November 14, 2019 Shares in Stobart Group fell as much as five per cent this morning after the company said it would suspend its dividend in order to invest in growing its aviation and biomass energy divisions. The Group reported strong revenue growth for the first half of the year, with an increase of over a third to [...]
Asian markets sink further as Hong Kong protests escalate November 14, 2019 Asian markets have closed lower as anti-government protests continued to paralyse Hong Kong, with escalating violence forcing schools and universities to close and disrupting transport systems in the financial hub. Police fired tear gas at protesters blockading the entrance to a major tunnel linking Hong Kong island to the northern part of the city, while [...]
Alibaba poised to launch record-breaking $13.4bn Hong Kong listing November 13, 2019 Alibaba has launched the share sale for its Hong Kong listing, in a $13.4bn (£10.4bn) fundraising effort that’s set to be the biggest cross-border secondary listing ever. The Chinese online retail giant opened the books for institutional investors looking to buy the shares during trading in New York on Wednesday after winning approval for the [...]
Google to offer current accounts from next year November 13, 2019 Google will offer personal current accounts from some time next year in partnership with banks and credit unions, as the tech titan tries to take a bite out of the personal banking market. Citigroup and the Stanford Federal Credit Union will run the accounts for the project, which has been named Cache, the Wall Street [...]
