Google could make joint bid for Tesco customer data unit Dunnhumby June 18, 2015 Google could soon be partnering with private equity fund Permira to make a joint bid for Tesco’s customer data business. The two firms are in talks to make a bid for Tesco’s data wing, Dunnhumby, which gathers and analyses data from about 1bn shoppers across the world, according to reports from Sky News and Reuters last [...]
London facing travel misery as unions hit out over Night Tube service with 24-hour strike June 18, 2015 Londoners face the threat of a summer of travel chaos as unions fight a long list of industrial grievances. London Underground drivers belonging to the Aslef union have voted for a 24-hour strike from 8 July over the introduction of a new Night Tube service at weekends. Around 80 per cent of drivers belong to [...]
Government hires Goldman to advise on sales of bank shares June 18, 2015 Goldman Sachs will advise the government on the sale of its remaining stakes in Britain’s banks. Goldman was hired as the privatisation adviser to UK Financial Investments (UKFI), a holding company tasked with managing the taxpayer stakes in businesses across the economy, Sky News first reported last night. Chancellor of the exchequer George Osborne [...]
Fitbit share price jumps 52 per cent on market debut in New York June 18, 2015 Shares in wearable fitness gadget maker Fitbit surged 52 per cent in their stock market debut across the pond yesterday, valuing the firm at more than $4.1bn (£2.6bn). The shares, which are now traded on the New York Stock Exchange under the ticker FIT, were priced at $20 per share for the initial public [...]
Q&A: Why has the euro suddenly ended its expected decline? June 18, 2015 Q How far has the euro fallen? A If you were to buy a euro using dollars, you would only need about $1.14. In September last year you would have needed to pay $1.30. It marks a loss in value against the dollar of around 12 per cent. Yet for the last few months, the [...]
Greece faces a very European problem: Are woes fault of Eurozone designers as much as Greek policymakers? June 18, 2015 Greece's economy is a shadow of its former self. It once had thriving investment banks which attracted cash from all over the world and invested it predominantly in the Balkans, helping countries there to thrive after the collapse of the Soviet Union. These operations are no longer. Its economy produces 30 per cent less [...]
Charles Stanley’s £6m swing into the red June 18, 2015 Wealth management firm Charles Stanley started the arduous task of trying to turn around the business yesterday after revealing a £6m full year loss. The company, which traces its roots back about 200 years, saw a £6.1m profit last year evaporate to a £6.1m loss for the year ending March 2015, due to higher staff [...]
Tory MP and Saracens chairman behind flotation of estate agents June 18, 2015 A UK ESTATE agency backed by Saracens chairman Nigel Wray and Tory MP Kevin Hollinrake yesterday unveiled plans for a £17m float on the stock market. Hunters, which has 153 mostly franchised branches across the country, will list on the alternative investment market at the start of July by selling 22.3 per cent of the [...]
London and the south-east see record-breaking spike in rents June 18, 2015 Estate agents are urging housebuilders to look south, as the national average rent reaches its highest point since records began. Rents across the UK are now 4.5 per cent higher than a year ago, with London and the south-east rising faster than anywhere else, according to the latest Your Move and Reeds Rains Buy-to-Let [...]
Kingfisher hires new UK boss for B&Q June 18, 2015 Kingfisher, Europe’s largest home improvement retailer, yesterday said it has hired Michael Loeve to head up the UK & Ireland division of its struggling DIY chain B&Q. Loeve will join in September from Danish supermarket giant Coop Danmark. The hire gives hopes of a turnaround for B&Q, after Kingfisher said that it would close 60 [...]
