Allergan to acquire Tobira Therapeutics for $1.6bn September 20, 2016 Dublin-based pharma firm Allergan has said it's buying US liver treatment firm Tobira Therapeutics for an eye-watering $1.6bn (£1.2bn). Allergan will pay $28.35 per Tobira share upfront, a massive premium on Tobira's close price yesterday of $4.74 per share. Tobira shares were suspended from the pre-market in the US today ahead of the announcement. Read more: Teva readies [...]
Before the bell: What you need to know before the US market open September 20, 2016 Theresa May has been buttering up Wall Street following the Brext vote and drug giant GlaxoSmithKline has a new chief executive. Here's what you need to know before the US open at 2:30pm London time. The US futures markets are pointing higher ahead of the open. The S&P is up by 0.38 per cent, the Nasdaq [...]
London in line for new Internet of Things hubs September 20, 2016 The so-called Internet of Things (IoT) scene in London is set to get a boost from the government. The Innovate UK-funded Digital Catapult – set up to help small businesses grow their digital capabilities – is rolling out 50 IoT hubs around the capital, called the Digital Catapult Things Connected programme. Businesses will be able [...]
Mobile lender Atom in £100m funding drive September 19, 2016 Mobile money lender Atom Bank is gearing up for a fresh £100m funding drive. The app-based bank is preparing to approach backers to shore up its balance sheet against early-stage losses and regulatory capital requirements. Atom began accepting deposits earlier this year and is planning to start mortgage lending in coming months. Read more: How nine challenger banks [...]
Three dials into conference call with Gamma for mobile service September 19, 2016 Mobile network challenger Three has teamed up with business telecoms provider Gamma for a business mobile service. The mobile-for-business market is currently dominated by O2, Vodafone and EE. Three and Gamma think they can win business by offering features like call recording, call queuing, and forward calling. The service will be launched at the end [...]
Business confidence stays positive despite drop to four year low September 19, 2016 Business confidence across the country remains in positive territory despite falling to a four year low in the wake of the referendum. The number of exporters expecting an increase in total exports also remained in positive territory, although it fell to 20 per cent. The latest half-yearly Lloyds Bank business confidence report suggests that the UK [...]
Magazine Country Life gets a boost from the BBC September 18, 2016 A BBC television series has boosted the circulation of magazine Country Life. The show, Land of Hope and Glory – British Country Life, was broadcast in March and chronicled the publication’s 199-year history of documenting rural life in Britain. The latest industry data showed the readership of the magazine has increased by 29 per cent [...]
BT and Virgin to vouch for UK’s broadband flair September 18, 2016 Rivals BT and Virgin Media will this week launch a joint advertising campaign to defend the UK’s broadband. Ads running in newspapers across the country will claim there has been a combined £15bn of investment in the UK’s broadband infrastructure over the past five years and highlight average download speeds are faster than in Germany, France, [...]
Chinese group gatecrashes National Grid’s £11bn gas pipeline auction September 18, 2016 A group of Chinese investors are eyeing a bid for National Grid’s gas pipelines that supply nearly 11m homes and businesses. The group is targetting a majority stake in the key national infrastructure. It’s thought the consortium includes Fosun and the state behemoth China Gas. “Regardless of their identity, all bidders will have to go through [...]
Diageo weighs London job cuts to boost profits September 18, 2016 Drinks giant Diageo – owner of Guinness and Smirnoff brands – is finalising plans to slash jobs at its London headquarters. A review of staffing at offices in Park Royal, northwest London, is expected to significantly reduce the 1,500 headcount, though the axe is expected to fall across Diageo’s operations around the world. A productivity programme [...]
