SSP wins Beijing airport contracts November 25, 2013 SSP, the travel concessions group, said yesterday it has won £50m worth of contracts to open six outlets at Beijing Capital International Airport. The company, led by former WH Smith chief executive Kate Swann, said the outlets, which are due to open next autumn at Terminals two and three, include the bakery brand Panopolis, French [...]
Legal merger called off in US November 25, 2013 One of the biggest proposed law firm mergers of the year has been called off, the leaders of the two firms told Reuters yesterday. The merger between the California-based Orrick Herrington & Sutcliffe and Pillsbury Winthrop Shaw Pittman in New York would have made it one of the largest firm in the US, but the [...]
Weidmann calls for stable pricing November 25, 2013 To restore a robust financial system, central banks should concentrate on ensuring stable prices instead of taking on new tasks, European Central Bank governing council member Jens Weidmann said yesterday. Weidmann said in a speech at Harvard University that if central banks guarantee government solvency, governments could well end up becoming less responsible with their [...]
Cupid’s chief to step down after a loveless year November 25, 2013 ONLINE dating company Cupid will have a new chief executive from next week, replacing Bill Dobbie as it struggles to turn around its business after a share price collapse of 72 per cent so far this year. Phil Gripton, currently Cupid’s managing director of dating services, will take over from Dobbie as chief executive on [...]
Better Capital eyes up German turnaround investment deals November 25, 2013 LISTED private equity firm Better Capital, founded by UK venture capitalist Jon Moulton, said yesterday that there are very few attractive turnaround investments in the UK. The company said that it would instead look to Germany in the future, “due to the volume of attractive opportunities that would benefit from Better Capital’s investment led modus [...]
7Digital preparing for its market debut with UBC takeover in 2014 November 25, 2013 ONLINE music store 7Digital has signed a letter of intent for a reverse takeover of UBC Media, the Aim-listed content group that yesterday reported a widening statutory loss of £620,000 during the last six months. Discussions between the two media firms are ongoing but the companies said they are looking to complete the deal by [...]
Glaxo drug cleared in the US November 25, 2013 BRITISH pharmaceuticals giant GlaxoSmithKline got a boost last night as US health regulators said they would lift restrictions on the use of its once widely used diabetes drug Avandia after determining that it did not increase the risk of heart attacks. The US Food and Drug Administration (FDA), following its review of a large clinical trial [...]
MoPowered to raise £4m at IPO November 25, 2013 MoPowered, which provides website services for leading retailers such as Next, announced its intention to float on London’s Alternative Investment Market yesterday, hoping to raise £4m. “With the funds raised during the initial public offering, we will aim to increase our market presence still further as retailers increasingly see the benefit of our SaaS platform,” [...]
Ladbrokes in Chelsea Apps deal November 25, 2013 Ladbrokes has moved to enhance its digital service on mobile devices such as smartphones and tablets by teaming up with specialist firm Chelsea Apps Factory. The deal follows Ladbrokes’ move to Playtech’s mobile platform Mobenga, as well as the launch of Ladbrokes Exchange, which allows users to bet against each other. The firm hopes the [...]
Ex-Renault man to drive Peugeot November 25, 2013 PSA Peugeot Citroen named former Renault number two Carlos Tavares as its next chief executive yesterday. Tavares, 55, will join CEO Philippe Varin’s team on 1 January and take over later in 2014, the loss-making car manufacturer said. The CEO switch “signals that PSA and the Peugeot family are willing to make far-reaching changes”, said [...]
