Turkey’s Erdogan accuses Saudi agents of killing missing journalist October 23, 2018 Turkish president Recep Tayyip Erdogan today accused Saudi Arabian agents of the “premeditated” killing of journalist Jamal Khashoggi. Khashoggi was last seen alive entering the Saudi Arabian consulate in Istanbul on 2 October. Read more: Softbank operations boss to pull out of Saudi investment conference Several groups of Saudi intelligence officers had arrived in the [...]
Coming off caffeine: Premier Inn opens more rooms as owner Whitbread looks to life after Costa October 23, 2018 Costa owner Whitbread grew revenues 2.6 per cent in the first half, as it looks to move away from the coffee business it sold to Coca-Cola. The results Revenue increased to £1.08bn, largely driven by tourism and growing capacity as it continues to expand its Premier Inn chain of hotels. Read more: Whitbread shareholders vote [...]
Shares in shoemaker soar on death of matriarch Wanda Ferragamo October 22, 2018 The death of Salvatore Ferragamo’s widow has sent shares soaring in his eponymous company amid speculation her successors may sell their stake in the business. Shares closed up over seven per cent in the late afternoon today. The company’s value peaked in 2015, and has been on a downwards trajectory since May last year. Wanda [...]
Block Vodafone’s takeover of Liberty Global, top executive urges regulators October 22, 2018 The head of Germany’s third largest mobile operator has asked regulators to block Vodafone’s €18bn takeover of Liberty Global’s assets in the country. Markus Haas of Telefonica Deutschland said the deal “poses a considerable threat to consumers”. Read more: Vodafone looks to raise €4bn of hybrid bonds to fund Liberty Global deal The chief executive, [...]
London was the clear choice, world’s largest uranium producer says ahead of November listing October 22, 2018 Listing in London is an “obvious choice”, senior executives from Kazatomprom, the world’s largest uranium producer, have said. Galymzhan Pirmatov, chief executive of the company which produces a fifth of the world’s uranium, told City A.M. it is pursuing a mid-November double listing in London and Kazakh capital Astana. Read more: BP and Shell get [...]
Philips chief executive warns no-deal Brexit will hit British manufacturing October 22, 2018 Brexit could wreck Britain’s future as a manufacturing hub, forcing firms like Philips to rethink their UK operations, the company’s chief executive warned today. Frans van Houten expressed concern at the lack of progress on a Brexit deal in comments reported by Reuters. Read more: Financial stability should not be used as a bargaining tool for [...]
Fiat to sell components maker to KKR-backed firm, creating major car parts manufacturer October 22, 2018 Fiat will sell its car parts business Magneti Marelli to private equity backed Calsonic Kansei for €6.2bn, creating one of the world’s largest components companies. It will put US private equity firm KKR in charge of a new entity, Magneti Marelli CK Holdings, with total revenues of around €15bn. Read more: Addison Lee signs deal [...]
New stomping grounds: Dr Martens posts strong growth after opening 25 new stores last year October 22, 2018 Dr Martens’ new chief executive said there is room for further growth as the company posted strong results for the financial year, opening 25 new stores. The iconic footwear brand increased revenue by 20 per cent to £349m, while growing operating profit by a third to £50m. Read more: Fintech startup Worldremit poaches former Paddy [...]
Employees’ money troubles cost their bosses over a billion each year October 22, 2018 Employees’ financial worries are costing their employers £1.6bn a year through lowered output and missed work days. British workers take four million days off a year because they are worried about their finances, a study from pension and investment company Aegon and the Centre for Economics and Business Research found. The research, which surveyed 2,000 [...]
Hamleys’ Chinese owner eyes exit with strategic review of toy shop October 21, 2018 Hamleys’ Chinese owner is considering a sale of the toymaker a week after it posted a 500 per cent decrease in profits. C.banner, which acquired Hamleys for around £100m in 2015, has started a strategic review after being approached by potential buyers. Read more: Hamleys replaces finance chief after disappointing results However it is unlikely [...]
