Liberty Media could zoom into pole position on Formula One deal with £6.4bn bid August 25, 2016 Liberty Media has become the latest company to throw its hat into the ring for the controlling stake of Formula One (F1) with a $8.5bn (£6.4bn) bid. The controlling stake in F1's parent company is currently owned by CVC Capital Partners, which has a 35 per cent stake and has held its position since 2006. According to Sky News, [...]
Game over? Shares plunge at Gamestop as quarter’s releases fail to impress shoppers August 25, 2016 Shares in Gamestop have dropped dramatically in after-hours trading, after the company revealed the recent lack of big name titles had done little to entice customers. The games retailer reported net sales had fallen to $1.6bn (£1.2bn) for its second quarter, down 7.4 per cent from $1.8bn in the same period the year before, while same store [...]
Bats Europe exchange mulling new EU base after Brexit vote August 25, 2016 Bats Europe is considering its non-London options after June's referendum result, potentially establishing a new base elsewhere in the EU. The exchange, which was started less than a decade ago, has quickly grown from startup status to the largest stock exchange in Europe and is currently housed in Richard Desmond’s Northern and Shell Building on Lower Thames [...]
Mon-who? Challenger bank Mondo rebrands as Monzo following trademark snag August 25, 2016 Challenger bank Mondo is no more, officially rebranding itself today as Monzo. The smartphone-centric firm originally called itself Mondo, after the Italian word for world, before its trademark for the name was successfully challenged by another company. After raising £1m in 96 seconds through crowdfunding earlier this year, the bank has clearly decided reaching out to the public is [...]
Volkswagen reaches deal with dealers over emissions scandal August 25, 2016 Volkswagen has reached an agreement to compensate US car dealers today, roughly a year after the diesel emissions scandal first came to light. Although the car manufacturer has not disclosed how much it will be shelling out, the proposed settlement includes cash payments. Volkswagen will now be working with the dealers' counsel to finalise the details [...]
Legal eagles not impressed with average price suggestions August 25, 2016 The professional body for solicitors has today slammed calls for firms to publish their average costs. Last week, the Legal Services Consumer Panel (LSCP) responded to the interim Competition and Markets Authority (CMA) report into the legal services market and suggested red tape should be introduced to make publishing average fees mandatory. Although noting the Society wanted to improve [...]
HM Revenue & Customs (HMRC) proposes new ways to crack down on offshore tax evasion August 24, 2016 The taxman today laid down the law, announcing plans for tougher new sanctions for offshore tax evasion. Under the proposals announced by HM Revenue & Customs (HMRC), those who do not volunteer to pay outstanding taxes from offshore investments and accounts could be slapped with penalties up to three times the tax they were trying to evade. The [...]
“Executional rigour” fails to save HP shares from after-hours plunge August 24, 2016 HP thinks it has the laser vision needed to continue printing out profits, as the technology giant revealed today its earnings per share had beaten its previously stated outlook. The company reported diluted net earnings per share from continuing operations of $0.49 for its third quarter of the year, safely above its previously provided outlook of $0.40 [...]
