Fitbit share price plunges in after hours as company reveals jump in revenue February 22, 2016 Shares in Fitbit dropped by almost 15 per cent in after hours trading, as the health and fitness accessory group unveiled revenue of $711.6m (£502.7m) for the final quarter of 2015, up from $370.2m in the same period of 2014. The group's stock tanked, despite smashing expectations of $648m in revenue. It also reported earnings per [...]
Sainsbury’s granted extended deadline of 18 March to make new bid for Argos owner Home Retail Group February 22, 2016 Sainsbury's has been given an extended deadline to make a new bid for Argos owner Home Retail Group. The supermarket group has until 5pm on 18 March to make a new offer for the company, almost four weeks from now. Home Retail's shares closed up 12.96 per cent today at 173.5p, after a rival bidder [...]
City Moves for 22 February 2016 | Who’s switching jobs February 22, 2016 Dechert Andrew Hood has joined the law firm as a senior director in its international trade and government regulation practice. Hood most recently served as legal adviser to the Prime Minister. Prior to this, he held positions as head of international and EU law at the Attorney General’s Office, legal adviser and senior policy officer [...]
Budget 2016: As chancellor George Osborne gears up for expected pensions raid, his Budget will serve up a reality check on the deficit February 22, 2016 As Westminster whips itself into a referendum frenzy following a week of thrilling political drama, it is worth remembering that more prosaic and domestic concerns lie ahead. In three weeks’ time, for example, chancellor George Osborne will steal the limelight away from Boris Johnson, David Cameron et al. when he delivers his 2016 Budget. Incredibly, [...]
EU referendum: The European Union has shown it is not willing to reform. It’s time for us to leave February 21, 2016 I’ve spent the whole of my adult life standing up for what I believe in: that the voter is sovereign, our environment precious, and that politicians should deliver on the promises they make. My constituents – the people who know me best – know I have stood by those principles over the last six years. [...]
Ladbrokes and William Hill set to reveal the impact of new taxes on gambling firms February 21, 2016 Ladbrokes and William Hill are set to disclose the impact of new taxes targeted at the gambling industry this week, when Britain’s biggest bookies announce full year results. Ladbrokes is forecast to post a dramatic fall in pre-tax profit, from £112m to £44m, according to analysts at Deutsche Bank. The dismal numbers are being linked [...]
Playtech to go on £800m shopping spree as it eyes up Pokerstars owner Amaya and OpenBet February 21, 2016 Gambling software powerhouse Playtech is reportedly planning to use funds of up to £800m to launch a string of new acquisitions. Playtech, founded by Israeli billionaire Teddy Sagi in 1999, is thought to be eyeing up the UK-based software developer OpenBet, owned by Vitruvian Partners, in a £250m deal. However, as the firm has contracts with [...]
As David Cameron’s renegotiation of Britain’s membership of the EU near conclusion, it’s all about to kick off February 19, 2016 For all the late-night drama and political theatre in Brussels, the Prime Minister’s renegotiation appears to be nearing its conclusion. A deal will be presented and a referendum will follow. For those who already hold strong views on Britain’s membership of the European Union, the details of Dave’s deal will be largely irrelevant. An outer [...]
The New Day but not a new dawn for Mirror owner February 19, 2016 It may lack the attention-grabbing quality of “Bus Found on Moon” and other red-top headlines, but “Publisher Unveils National Tabloid” has a similar ring of implausibility. In a national newspaper market characterised by perpetually declining annual sales, Trinity Mirror’s launch of New Day looks like an adventurous bet on the willingness of a dwindling band of [...]
City Moves for 19 February 2016 | Who’s switching jobs February 19, 2016 Ogilvy & Mather Ogilvy & Mather London has appointed Mick Mahoney to the role of chief creative officer to lead the agency’s creative output across its client portfolio in the UK. He will report into newly appointed chief executive Charlie Rudd. Mick was executive creative director (ECD) at RKCR/Y&R from 2013 to 2015, and previously worked [...]
