ITV offloads UTV Ireland to Virgin Media for an undisclosed sum July 11, 2016 ITV has agreed to sell UTV Ireland to Liberty Global’s Virgin Media, for an undisclosed sum. Virgin Media will also take over a 10-year programme supply agreement with ITV Global Entertainment, whose ITV Studios produces the likes of long-running soap opera Coronation Street and breakfast chat show Good Morning Britain. UTV Ireland was launched in January [...]
Tata Steel boss warns UK jobs could be at risk after the sales process for assets is suspended July 11, 2016 A Tata Steel group executive director has said job cuts cannot be ruled out after the sale of the UK business was put on hold. In an interview with Channel 4 News Koushik Chatterjee, Tata Steel’s group executive finance director said “there can’t be guarantees” and compared the situation to when Tata laid off thousands [...]
At the close: FTSE 100 charges into bull territory as investors cheer leadership certainty and the weak pound drives up profits July 11, 2016 Well, there it is. The FTSE 100 has swung from bear market territory to a bull market in just over six months. The twists and turns of the day's political events gave a fresh boost to the global FTSE 100, while the UK focused FTSE 250 also posted strong gains. Housebuilders, such as Barrat Developments and [...]
Airlines will spend around $5.2 trillion on 33,000 new planes over the next 20 years July 11, 2016 The world's airlines will spend over five trillion dollars on new aircraft over the next twenty years. Airbus has added 500 planes to its previous forecast, taking total demand over the next two decades to 33,070, with a price tag of a cool $5.2 trillion (£4 trillion). By 2035, the world’s aircraft fleet will have doubled [...]
Week ahead: Fashion retailers and builders are in the spotlight July 11, 2016 Alongside the Bank of England’s first meeting after the UK voted to quit the European Union it will be a busy week of corporate numbers. Bank of England officials announce their monetary policy decision on Thursday and many economists are expecting a loosening of interest rates. The FTSE 100 rose to its highest level in [...]
Telecom giants come to blows over airwaves July 11, 2016 An upcoming radio spectrum auction has become the latest battle ground for the UK’s warring telcos. Network operator Three, owned by China’s CK Hutchison, has called on the telecoms industry regulator Ofcom to limit how much of the radio spectrum its rivals can own. Three’s chief executive Dave Dyson wants the regulator to prevent any [...]
Takeover attempt looms over shale developer IGas after share price dip July 10, 2016 A possible takeover attempt could be in the offing for shale explorer IGas after an unknown buyer bought over a quarter of its bonds. The purchase is just under the 33.3 per cent blocking stake which would effectively hand control of the company’s debt to the holder. Bonds arranger Pareto secured the purchase for the [...]
Gloves come off in telecom legal battle over fibre networks July 6, 2016 TalkTalk has criticised CityFibre’s decision to challenge Ofcom over fibre network access. Yesterday alternative network provider CityFibre complained to the competitions watchdog that new Ofcom rules allowing rival service providers such as Sky and Vodafone to connect their own equipment to parts of the Openreach infrastructure network – known as dark fibre – would prevent [...]
Private jet flights from China to Europe soar as sterling falls to Earth July 6, 2016 The number of private jets flying into Europe from China has taken off this year, climbing by 43 per cent on the same period last year. Data from private jet company Magnus Aviation has shown that in June, private jets flying in to Europe from China increased by 41.7 per cent from same month last year. [...]
Biotech giant bows to takeover pressure and opens books to suitors July 6, 2016 US biotech giant Medivation has signed confidentiality agreements with several suitors, including Sanofi SA, paving the way for a potential a $10bn (£7.7bn) sale. Speculation over the possibility of a takeover has followed the company for months. Pharma giants Pfizer and Celgene have also signed confidentiality agreements allowing them to inspect Medivation’s nonpublic information which [...]
