Insurance giant Anbang denies eyeing up £7bn takeover of InterContinental Hotels Group August 7, 2016 Chinese insurance giant Anbang has denied it is eyeing up the FTSE 100-listed hotels chain InterContinental Hotels Group (IHG) in a £7bn deal. Anbang Insurance Group had held talks with City bankers about launching a takeover bid for IHG, which owns the Holiday Inn, Crowne Plaza and Candlewood Suites brands, the Sunday Times reported. However, a spokesman for [...]
Brockmans is leading the pack in the UK’s “gin-aissance” August 7, 2016 The UK's "gin-aissance" has gone from strength-to-strength, if the results of the UK's fastest-growing, super-premium gin brand Brockmans are anything to go by. The figures Total revenue at the super-premium gin distiller was up 51 per cent to £2.9m in the year to 31 December, from £1.9m in 2014. UK revenue increased 185 per cent last [...]
Bremainers, Cameron aides and Shami Chakrabarti get honours August 4, 2016 Former chancellor George Osborne topped the list of David Cameron’s resignation honours today, while Labour leader Jeremy Corbyn raised eyebrows with his nomination of Labour anti-Semitism report author Shami Chakrabarti. Cameron’s resignation honours rewarded “Bremainers” and many of his inner circle. Osborne has been made a Companion of Honour for political and public service, while former [...]
BrewDog bites off $50m equity fundraising challenge for US expansion August 4, 2016 Scottish craft beer upstart BrewDog has bitten off its biggest equity crowdfunding challenge yet in a bid to raise $50m for its US brewery. If its Equity for Punks USA round is successful, it will beat the previous record – also set by BrewDog – for online equity crowdfunding. In April, the company's Equity for Punks fourth [...]
Revenues up at 21st Century Fox on higher advertising spending August 3, 2016 Media conglomerate 21st Century Fox reported a mixed bag of results today, as revenues were below analysts' expectations but earnings per share surpassed estimates. Revenues were up seven per cent year-on-year to $6.65bn in the fourth quarter ended 30 June. However, this fell below projected estimates of $6.68bn. Annual revenues grew one per cent to $27.33bn. Earnings [...]
TripAdvisor shares drop as hotel revenue slumps and online competition heats up in second quarter August 3, 2016 Lower hotel revenues and costly expansion investments hit travel site TripAdvisor’s quarterly revenues today. The figures Shares were down 7.6 per cent in after hours trading to $64.24 (£48.49), after the company posted a three per cent fall in revenue to $391m and a 41 per cent drop in net income to $34m in the second [...]
Tesla Motors loss widens despite putting pedal to the floor to ramp up production August 3, 2016 Elon Musk’s electric car giant Tesla Motors reported lower-than-expected second quarter results, driven by a dip in the number of cars delivered as it ramped up production. The figures Tesla’s total revenue rose 33 per cent year-on-year to $1.27bn (£959m) in the quarter ended 30 June. The company delivered 14,402 vehicles in the second quarter, [...]
Wells Fargo has shrugged off the Brexit blues as it says it experienced “no material impact” on its business August 3, 2016 US banking giant Wells Fargo & Co said yesterday that it did not experience any material impact on its UK or other foreign businesses as a result of the pro-Brexit vote last month. Wells Fargo said the higher end of its potential litigation losses in excess of its liability for probable losses was about $1bn [...]
Major fine wine marketplace Liv-ex traded the first box of English sparkling wine from Nyetimber this week August 3, 2016 The first bottles of English sparkling wine joined the major fine wine marketplace Liv-ex this week. On Monday, a six-bottle case of the Sussex-based Nyetimber's 2010 vintage Classic Cuvee traded for £120 in bond. This represented a wholesale price of £20 a bottle, without tax. Read more: How Nyetimber put English wines on the map French wines [...]
