Hailo to merge with MyTaxi to take on Uber July 25, 2016 Cab-hailing app Hailo is expected to announce a merger rival app MyTaxi tomorrow. The move is part of a strategic investment by Mercedes-Benz-owner Daimler – the owner of MyTaxi – it was first reported by Sky News. Hailo has been seeking further funding for some time, having had only enough cash to support itself for [...]
BT proposes setting up independent board for Openreach to stave off break-up July 25, 2016 BT has offered to appoint an independent board and chairman to run its Openreach infrastructure arm, handing the division fresh powers ahead of the launch of a regulator consultation tomorrow. The move appears to be an attempt to appease rivals and prevent the break-up of the group. BT chairman Mike Rake said forcing separation was not the right way to go [...]
William Hill’s share price jumps as 888 and Rank Group team up for joint bid July 25, 2016 William Hill's share price jumped 10 per cent as markets opened this morning after gaming groups 888 and Rank confirmed they have teamed up to mount a joint bid for high street rival William Hill. Rank's share price rose around three per cent at the open to 249p, while 888's stock was also up around three per [...]
Softbank’s bid for UK chip designer Arm Holdings under the spotlight July 25, 2016 A bumper earnings report from chip designer Arm Holdings is expected to shine a spotlight on the £24.3bn takeover bid from Japanese telecoms group Softbank. Arm will report its second quarter results on Wednesday and it’s projected to record a 20 per cent jump in revenue to £275.5m, while pre-tax profits are thought to have climbed [...]
Week ahead: Oil majors and GDP numbers set to steer markets July 25, 2016 Markets in the UK and Europe seem to be running out of momentum recently but a influx of earning reports this week may go some way to liven things up. The blue-chip FTSE 100 was up 0.5 per cent at 6,730.48 points at its close on Friday, its fifth straight week of gains. The latest [...]
Watchdog set to crack down on BT’s Openreach July 25, 2016 The telecoms watchdog Ofcom will tomorrow unveil new service targets and reforms for BT’s infrastructure arm Openreach. The latest step in Ofcom’s long-running Strategic Review of Digital Communications is expected to result in further autonomy for the division but will stop short of full separation. Ofcom will tomorrow morning open its interim findings to consultation — [...]
Sky expected to unveil profit leap as it readies mobile market entry July 24, 2016 Broadcaster Sky is set to post a jump in full year profits this week as well as further details for its planned entry to the mobile phone market. Sky will report a 13 per cent rise in profit to £1.35bn for the 12 months to the end of June on Thursday while its long-expected move in to [...]
Italian PR firm SEC in Aim listing to fund UK and European growth July 24, 2016 Italian public relations and communications agency SEC will list on London’s junior Aim market tomorrow. SEC has raised £3.4m before expenses to fund the growth of the business around Europe with discussions being held for acquisitions in the UK, France and Poland. The flotation will be the first European business to list on Aim since the [...]
Speedy Hire raises hackles of Rottweiler July 24, 2016 One of Speedy Hire’s largest shareholders will call for an extraordinary general meeting this morning due to frustrations around its performance and management. The building equipment supplier’s share price has fallen sharply over the last couple of years due to a series of profit warnings. Toscafund, which has a near 20 per cent stake in Speedy [...]
Teva readies for Allergan deal with bond sale July 14, 2016 Israeli pharmaceutical firm Teva is set to raise around $22bn (£16.4bn) next week to fund its delayed acquisition of Allergan's generics unit. The company filled documents with the US Securities and Exchange Commission saying it would hold meetings and calls with investors ahead of the multi-currency bond sale. The calls and meetings are being arranged by [...]
