UK betting giant Entain takes punt on Tabcorp as it eyes up Australian market February 2, 2021 Ladbrokes owner Entain has today announced that it has made an offer for betting firm Tabcorp Holdings’ wagering and media business. The non-binding indicative offer signals a desire from Entain to expand its services in Australia by becoming the country’s biggest betting company owner. Entain already has a small presence in the Australian betting market [...]
Capco suffers £275m hit as lockdowns damage value of Covent Garden estate February 2, 2021 Property giant Capital & Counties has seen the value of its central London estate fall by around £275m in the second half of 2020, as the landlord was hit by Covid-19 lockdowns. Capco, which manages over 1 million sq ft of space in the West End, suffered a 27 per cent yearly drop in value [...]
Metro Bank snaps up £384m RateSetter portfolio of loans February 2, 2021 Metro Bank has today announced the purchase of £384m in loans to increase its exposure to unsecured personal lending. The purchase has come from peer-to-peer investors through the RateSetter platform. Commenting on the acquisition, Daniel Frumkin, Metro Bank’s CEO, said: “The addition of this portfolio to our loan book is a further step towards growing our [...]
Moonpig soars on market debut as shares leap by a quarter within minutes February 2, 2021 Online greeting card platform Moonpig saw its shares rise by 25 per cent within minutes of pricing its London IPO on Tuesday. Stock in the newly listed firm was trading at around 440 pence per share shortly after floating at 350 pence. The sharp rise underlines spirited investor appetite and sets the stage for other [...]
Central London’s economy hit hardest by Covid as tourist spending plummets £10bn February 1, 2021 Research published by Sadiq Khan shows central London’s economy has been hit hardest by Covid-19, largely due to home working and a sharp drop in tourism. Tourism spending fell by £10.9bn in 2020 compared to the year before, with more than 26,000 jobs at risk in arts and culture alone and the night-time economy also [...]
Nintendo profits soar as home gaming booms in 2020 February 1, 2021 Video game giant Nintendo saw its profit almost double in 2020 as the world played games at home during the pandemic. The Japanese company said its April to December profit surged to 376.6bn yen ($3.6bn) from 196bn yen in 2019. It reported more than a 10 per cent rise in its Switch games console sales [...]
TSB reports losses as pandemic prompts lending surge February 1, 2021 TSB’s full-year financial performance was dented by the coronavirus pandemic as lending rose sharply, the bank announced today. Statutory loss before tax was £204.6m in 2020, compared to a £46m profit in 2019. The losses largely reflects the adoption of government measures in response to Covid-19, as well as unemployment rates and reduced customer spending. [...]
Dr Martens valued at more than £3.7bn in London IPO January 29, 2021 British bootmaker Dr Martens started its London IPO in style on Friday, attracting bumper demand in a sale valuing the company at £3.7bn. Dr Martens’ shares were up 19 per cent in their market debut after the company priced the deal at 370p a share, raising nearly £1.3bn. Known for its chunky boots, Dr Martens [...]
Robinhood raises $1bn from investors amid GameStop frenzy January 29, 2021 Trading platform Robinhood is raising an infusion of more than $1bn from its investors, having been strained by high volumes of trading this week. On Thursday, the company was forced to stop customers from buying stocks that were heavily traded, such as struggling videogame retailer GameStop. According to a New York Times report, the company [...]
EU says AstraZeneca contract contains ‘binding orders’ as vaccine row intensifies January 29, 2021 The European Union’s contract with AstraZeneca for its Covid-19 vaccine contains binding orders, the EU Commission head said on Friday. Ursula von der Leyen has demanded a plausible explanation from the UK-based vaccine maker for delivery hold-ups, describing the contract as “crystal clear”. AstraZeneca CEO Pascal Soriot defended the drug maker earlier this week, claiming [...]