Valeant’s share price climbs after new CFO appointment August 23, 2016 Shares in Canadian drug giant Valeant have continued to climb today following yesterday's appointment of rival drug maker Zoetis' Paul Herendeen as its chief financial officer, replacing Robert Rosiello. The move marks another step in Valeant's overhaul of its senior management team following its fall from grace almost 12 months ago, sparked by tweets from US presidential hopeful Hillary Clinton [...]
Best Buy’s share price has jumped ahead of the opening bell August 23, 2016 Shares in the largest US consumer electronics retailer Best Buy have leapt ahead of the opening bell in New York after posting a rare rise in sales. An hour ahead of the open the company's shares were 16 per cent higher at $38.18 in pre-market trading. The boost to shares came from an up-tick in forecasts for the third [...]
Before the bell: What you need to know before the US market open August 23, 2016 The sun is shining in London, the FTSE 100 is higher, and across the pond markets look set for a rise on the opening bell. Here's what you need to know before the US market open at 2:30pm London time. US futures are pointing higher ahead of the open. The S&P is up by 0.24 per cent, [...]
Cheers! High court rules SABMiller shareholder vote over Megabrew can be split August 23, 2016 Megabrew is still fizzing along. The High Court has ruled that SABMiller shareholders can be treated as two classes when they vote on the takeover by Anheuser Busch InBev – dubbed Megabrew. SAB requested the split as the £79bn deal requires 75 percent approval by SAB shareholders – with the largest two stakeholders controlling 40 per cent of the shares. Read more: [...]
E-cigarette tax should be zero: IEA think tank August 23, 2016 Excise taxes for e-cigarettes and other healthier alternatives should be set to zero, according to the influential Institute of Economic Affairs think tank. In a report the group argues a lower tax on e-cigarettes would improve public health and consumer welfare. The report author, economist Carl Philips, slammed policy makers for refusing to take into [...]
Smaller firms take £4bn hit from suppliers August 22, 2016 The UK's small firms are battling against contract terms with suppliers that have cost them over £4bn in the last three years. New research from the Federation of Small Businesses (FSB) has found 2.8m small firms have suffered because of what the FSB calls “unfair” contract terms. Complaints raised by small business owners to the FSB [...]
Insulation firm Autins set for £26m Aim IPO August 22, 2016 Autins Group, a car insulation manufacturer that reduces noise from the engines of Bentleys and Range Rovers, will begin trading on London’s junior Alternative Investment Market (Aim) today. Autins has raised £26.6m through a placing of new and existing shares, giving the group a market capitalisation of around £37.1m. The group plans to use the [...]
Rivals hit back at BT criticism of their campaign August 16, 2016 BT rivals – TalkTalk, Sky, and Vodafone – have hit back following BT boss Gavin Patterson’s complaints over their Fix Britain’s Internet campaign. In a letter signed by Sky chief executive Jeremy Darroch, Jeroen Hoencamp, the outgoing head of Vodafone UK, and TalkTalk CEO Dido Harding, the bosses rail against the level of BT’s spending [...]
Belgian pharma firm boosted by US judge ruling August 16, 2016 Shares in Brussels-based drugmaker UCB surged yesterday following a US ruling that blocks rival firms from making generic versions of its epilepsy drug Vimpat. Shares closed up by almost nine per cent in Brussels – its best performance since 2009 – and also giving a shot in the arm to other pharmaceutical stocks around Europe. [...]
Sky plots Spain launch as online TV war escalates August 14, 2016 The battle for control of the growing online streaming market is heating up as Sky prepares to launch Now TV in Spain. It’s understood Sky plans to use Spain as a springboard in to other European markets if the Spanish launch is a success. Now TV will be competing directly with US streaming site Netflix in [...]
