Satirical website the Daily Mash sold in £1.2m deal February 8, 2019 Satirical news website the Daily Mash has been sold in a £1.2m deal. The website, which also has a TV offshoot the Mash Report on BBC2, is being taken over by Digitalbox. Digitalbox is a media business that is scheduled to flotation Aim on 28 February through the reverse takeover of an Aim shell called [...]
Law firm DWF aims to raise £75m in pre-Brexit March float February 8, 2019 Law firm DWF said it is targeting a March listing on the London Stock Exchange, with plans to raise £75m. That would make its listing the largest undertaken by a law firm so far, outstripping Knights which raised £50m in June. The firm said it expects to announce the final offer price following its marketing [...]
SSE issues profit warning as it examines options for energy services business following Npower merger failure February 8, 2019 Big Six energy company SSE today cut its earnings forecast for the year, blaming a European court decision suspending state aid for the UK’s energy capacity market. The company said the court’s decision had the effect of removing the EU Commission’s state aid approval of the GB capacity market and introducing a “standstill period” until [...]
Government promises £8m for court system in review of legal aid reforms February 7, 2019 The Ministry of Justice (MOJ) today announced an £8m investment in the court system as part of a review of the comprehensive changes to the legal aid system made in 2013. The MOJ said it would invest £5m in technology to improve the functioning of the system and a further £3m to support those representing [...]
Legal artificial intelligence startup backed by Mike Lynch valued at $100m after funding round February 7, 2019 Legal artificial intelligence business Luminance has hit a $100m (£77m) valuation with backing from investors that include tech billionaire Mike Lynch. Luminance said today it had raised $10m in a series B funding round that valued the business at $100m. Backers include Lynch’s Invoke Capital, Talis Capital and Magic Circle law firm Slaughter and May. Lynch [...]
Cranswick shares crash as it unveils turkey of a trading update February 7, 2019 Shares in FTSE 250-listed food producer Cranswick took a pounding this morning after it revealed its operating margin may decline next year. Cranswick’s shares were trading down 15 per cent at 2,504p around midday, having fallen as low as 2,340p earlier in the day. Read more: Greencore bags The Sandwich Factory from Cranswick in tasty [...]
Betting stocks stumble after horse racing suspended due to equine flu February 7, 2019 Betting stocks slipped this morning after horse racing across the UK was suspended today because of fears of equine flu. William Hill's share price fell nearly one per cent, GVC's share price was down 1.7 per cent and Paddy Power Betfair was down 1.6 per cent. In a statement the British Horseracing Association (BHA) said [...]
Former Greek finance minister Yanis Varoufakis blasts Donald Tusk over Eurozone crisis in response to ‘hell’ tweet February 7, 2019 Former Greek finance minister Yanis Varoufakis blasted European Council president Donald Tusk today for the EU’s role in the Eurozone crisis. Varoufakis was responding on Twitter to Tusk’s tweet yesterday that said: “I've been wondering what that special place in hell looks like, for those who promoted #Brexit, without even a sketch of a plan [...]
Compass shares near all-time high after strong revenue growth February 7, 2019 Shares in Ftse 100 food services business Compass jumped more than 4 per cent this morning to near an all-time high after a strong trading update. Compass said its organic revenue in the three months to 31 December grew 6.9 per cent which it said was driven by new business wins, good retention rates, a [...]
Tui shares plunge on cuts to earnings guidance following hot summer February 7, 2019 Shares in Anglo-German holiday company Tui plummeted this morning after it cut its earnings guidance for its full financial year last night, blaming the hot summer and the weaker pound. Its shares fell 18 per cent in early trading to 966p. Last night Tui said it expected underlying earnings before interest, taxes and amortisation (Ebita) [...]