German factory slump: Is the European powerhouse heading for recession? December 6, 2019 Germany has reported a “disastrous” fall in factory production, sparking fears the country could be dragged back towards recession. New figures from Germany’s work ministry revealed industrial output slumped 1.7 per cent month-on-month in October, well below analysts’ expectations and the quarterly average. On an annual basis, the figures marked the biggest drop in factory [...]
FTSE 100 opens higher as China tariff waiver raises hopes of trade truce December 6, 2019 The FTSE 100 bounced back in early trading today as China’s decision to roll back tariffs on some US exports raised hopes of a pre-Christmas trade war truce. London’s blue-chip index was up roughly 0.8 per cent to 7,195.1 points this morning as traders reacted to developments in Beijing. Read more: Global growth to pick [...]
Publishing firm Haynes drives up shares as it reveals sharp profit growth December 6, 2019 Shares in publishing firm Haynes rose almost six per cent in early trading after it announced a sharp rise in profit for the first half of the year. Read more: Car manual publisher Haynes posts jump in profit as digital shift pays off The car manual specialist today said it expected to post a 37 [...]
Stonegate takeover of pub chain Ei Group ‘may raise prices’ at local boozers December 6, 2019 A £1.3bn merger between Slug and Lettuce owner Stonegate and pub chain Ei Group may lead to higher prices in some local areas, the competition watchdog has warned. The Competition and Markets Authority (CMA) today said that the deal, which would create the country’s largest pub group, did not raise competition concerns on a UK-wide [...]
Competition watchdog intervenes in Daily Mail’s takeover of i newspaper December 6, 2019 The competition watchdog today said it has served an initial enforcement order as it reviews the Daily Mail’s £50m takeover of the i newspaper. Read more: Daily Mail owner buys i newspaper for £50m The order, also known as a hold separate arrangement, means parent company Daily Mail and General Trust (DMGT) will be forced [...]
Daily Mail owner takes profit hit as it revamps portfolio in digital shift December 5, 2019 The Daily Mail’s parent company has reported a sharp fall in pre-tax profit for the full year, days after it snapped up the i newspaper for £50m. Daily Mail and General Trust (DMGT) posted a 21 per cent drop in pre-tax profit to £145m in the year to the end of September, while revenue slipped [...]
London ad firm Ogury raises $50m to fuel international growth December 5, 2019 London-based mobile advertising firm Ogury has raised $50m (£38m) in fresh funding as it looks to expand into new international markets. Ogury today announced it has secured the backing in a round led by private equity firm Idinvest, with additional funds from various banks. Read more: Tech giants set to spend £25bn on advertising this [...]
Huawei mounts new legal challenge over US national security ban December 5, 2019 Huawei has launched a fresh legal battle against US authorities after they branded the Chinese tech giant a national security threat and blocked it from a government subsidy programme. The US Federal Communications Commission (FCC) last month voted unanimously to block rural telecoms firms from using a $8.5bn (£6.5bn) government fund to buy Huawei equipment. [...]
Time Out shares slip as it warns market opening delays will hit profit December 5, 2019 Shares in Time Out dipped just over two per cent this morning after the media group warned that the delayed openings of two of its new food markets will hit profit. Read more: Time Out posts revenue rise as it dines out on food market success The London-listed firm said delays to its new sites [...]
Changing of the guard: Google founders make way as tech giant gears up for new era December 4, 2019 Google’s announcement that co-founders Larry Page and Sergey Brin will step back from their top roles is, in some senses, a groundbreaking moment. Since starting the iconic search engine in a rented California garage in 1998, the pair have grown the firm into one of the world’s most valuable companies, turning themselves into two of [...]
