CMA approves £1.2bn Stonegate pub merger deal February 14, 2020 The owner of Slug & Lettuce has today been cleared to takeover Ei Group in a move that would make it the UK’s largest pub company. Last year the Competition and Markets Authority (CMA) launched a probe into Stonegate’s £1.2bn deal to buy Ei’s assets over fears that it could damage competition in 51 local [...]
EDF smashes expectations as renewables arm goes from strength to strength February 14, 2020 EDF Energy smashed analyst expectations today as the French utilities giant enjoyed a strong performance from its renewable energy business. The figures The firm’s profit for 2019 was €5.2bn (£4.3bn), almost five times larger than the €1.1bn it posted in 2018. Analysts had predicted a profit of €3bn. Revenue rose four per cent to €71.3bn, [...]
Renault hits the skids as Nissan scandal pushes carmaker to a loss February 14, 2020 Renault posted its first loss in a decade today as the French car giant took a hit from its alliance with Nissan, which remains mired in a scandal concerning former boss Carlos Ghosn. The company lowered its guidance on the back of the results, setting a margin between three and four per cent, down from [...]
Gambling stocks fall as watchdog mulls capping online slots bets February 13, 2020 Shares in gambling firms fell today after the industry watchdog told MPs that it was considering capping the amount punters can bet online. FTSE 250 betting firms William Hill dropped 6.2 per cent today, and GVC Holdings fell 5.7 per cent. 888 Holdings also fell 1.5 per cent, but Rank Group however bucked the trend, [...]
Barclays boss Jes Staley ‘deeply regrets’ Jeffrey Epstein links February 13, 2020 Barclays chief executive Jes Staley has said he “deeply regrets” his connection with Jeffrey Epstein after it emerged that British regulators are investigating his links with the convicted sex offender. Staley admitted this morning that he maintained contact with with the disgraced financier, who took his own life in a New York jail last year [...]
Gem Diamonds sees revenue jump 41 per cent amid hopes of upturn February 13, 2020 Gem Diamonds saw its revenue increase 41 per cent today after a hike in the price of the precious stones had producers optimistic of a better 2020 for the troubled market. The miner, which has operations in Lesotho, said revenue hit $51.3m (£39.5m), up from $36.3m in the previous quarter. A 21 per cent rise [...]
Indivior swings to $42m loss as opioid treatment prices fall February 13, 2020 Drugmaker Indivior saw its shares slump nearly 20 per cent this morning after the firm booked a loss for the fourth quarter on the back of falling prices for its flagship opioid treatment. The figures Indivior, which is best known for its opioid addiction products, swung to a $42m (£32.4m) loss for the last three [...]
FSA blunts UK cannabis oil market with new regulations February 13, 2020 All UK food products containing cannabis extract cannabidiol (CBD) will be taken off the shelves from 31 March next year if they have not been submitted for approval to the Food Standards Agency (FSA) by that date. Local authorities will be responsible for enforcing the new legislation on such products, the sales volume of which [...]
Bittersweet farewell for Tidjane Thiam as Credit Suisse profits soar February 13, 2020 Credit Suisse has reported its highest annual profits in almost a decade, just days after chief executive Tidjane Thiam was ousted in the wake of a lurid spying scandal that erupted last year. The figures Credit Suisse’s pre-tax profit rose 40 per cent to 4.7bn Swiss francs (£3.7bn) for 2019, the highest figure since 2010. [...]
FTSE falls 1.5 per cent as Centrica losses weigh down index February 13, 2020 The FTSE 100 fell 1.5 per cent at 7,451.11 this morning as a 15 per cent drop in Centrica shares dragged it down due to hits from a number of one-off impairment charges relating to its oil & gas assets and nuclear power plant stake. London’s premier index was also hit by falls of over [...]
