888 share price bounces as it agrees to buy Bwin.party for £900m July 17, 2015 888 put it all on red, and has now emerged triumphant, having agreed to buy rival Bwin.party for £898.3m. That values Bwin.party at 104.09p per share, a premium of 16.4 per cent to the closing price on 14 May, the original day the offer was made. Since then, shares have risen as high as 108p [...]
Eurogroup of finance ministers confirms it will grant a three-year bailout loan to Greece as European Central Bank hikes bank liquidity assistance July 16, 2015 The Eurogroup of finance ministers today confirmed it will grant Greece a three-year bailout loan – just as European Central Bank (ECB) chief Mario Draghi confirmed it will increase the amount of liquidty assistance available to banks by €900m in one week. At a press conference today, Draghi said the approval of bridge financing, plus [...]
Stirling Prize shortlist announced: Are these really the best buildings in the UK? July 16, 2015 It's that time of year again: the Stirling Prize shortlist has been announced, so brace yourself for weeks of debate about the merits of modern architecture around dinner tables… On the shortlist this year are two university buildings, a school, a cancer support centre and a housing association development – as well as one of [...]
German finance minister Wolfgang Shaeuble on Grexit: Perhaps temporary exit from the Eurozone would be better for Greece July 16, 2015 Never one to mince his words, German finance minister Wolfgang Schaeuble has suggested that, despite the Greek parliament's overwhelming support for its creditors' reform proposals, a "temporary Grexit" might be a better option. Read more: IMF slams Greece deal This morning Schaeuble told Deutschlandfunkradio that "perhaps [Grexit] would be the better way for Greece". Given [...]
Markets rise on Greece hopes – but euro falls to eight year low against sterling July 16, 2015 If you're off to soak up some rays in one of Europe's sunnier climates this summer, get euros now: the currency dipped to just over 69p against the pound this morning, its lowest in eight years. Meanwhile, the currency dipped below $1.09 against the dollar for the first time since March. That's largely thanks to [...]
BT share price dips as Ofcom considers spinning-off Openreach July 16, 2015 It's been months in the offing and the cause of various, vociferous complaints – but now communications watchdog Ofcom has finally come out with it: it's considering breaking up BT. In an outline of a review this morning the regulator said separating BT from its Openreach network "could deliver competition or wider benefits for end [...]
Dixons Carphone hikes dividends as it smashes forecasts July 16, 2015 It seems Dixons Carphone is reaping the benefits of being the UK's last electronics retailer standing, after full-year profits smashed expectations. The figures Formed by a merger of electronics giant Dixons and mobile phone retailer Carphone Warehouse last year, the company has gone from strength to strength since its creation. Results for the 13 months [...]
Competition and Markets Authority accuses supermarkets of “confusing” promotions July 16, 2015 You could say the UK's competition body has just told supermarkets to BOGOF, after the Competition and Markets Authority (CMA) accused supermarkets of "confusing" people about special offers The after a major three-month investigation, the CMA said with 40 per cent of spending on groceries going on items on offer, shoppers are still being misled [...]
Beware, Barclays bankers: John “Mack the Knife” McFarlane is on a roll July 15, 2015 It was exactly a week to the day since John McFarlane, Barclays’ new chairman, claimed his first scalp, chief executive Antony Jenkins. Today his influence was felt again, after the imminent departure of deputy chairman Sir Mike Rake was revealed in rather chaotic fashion this morning. BT chairman and Confederation of British Industry president [...]
Sir Mike Rake to quit as Barclays deputy chairman by the end of the year as he signs up to chair Worldpay July 15, 2015 Barclays deputy chairman Sir Mike Rake will leave Barclays by the end of the year as he takes up a new role chairing payments processing company Worldpay. Rake told City A.M. this morning that, subject to regulatory approval, he will take up a position on its board on 1 September. Shares in the bank dipped [...]
