May to chair Cobra meeting over Iran tanker crisis as oil prices rise July 22, 2019 The price of oil rose this morning ahead of a meeting of the government’s emergency Cobra committee, as markets react to tensions caused by Iran’s seizure of a British tanker in the Gulf. Read more: Iranian seizure of tanker constitutes illegal interference, UK tells UN Brent crude rose 1.3 per cent to $63.28 a barrel, [...]
Inmarsat bidders look to appease government ahead of $3.4bn takeover July 18, 2019 The private equity firms behind a $3.4bn (£2.6bn) bid for Inmarsat have agreed a number of undertakings with the government over the future of the satellite firm’s UK operations. Read more: Competition watchdog to probe $3.4bn Inmarsat takeover The consortium, led by Apax Partners and Warburg Pincus, said it will guarantee that the majority of [...]
Netflix loses its chill: Four ways the streaming giant can recover July 18, 2019 Netflix shares dropped roughly 11 per cent when Wall Street opened today, as bleary-eyed investors reacted to a disappointing set of second-quarter results. The streaming firm posted a 26 per cent rise in revenue to $4.9bn (£3.9bn), but added just 2.7m worldwide subscribers, well below its 5m forecast. Read more: Netflix to open huge UK [...]
Shares in Reach spike after it confirms JPI Media takeover talks July 18, 2019 Shares in media group Reach jumped as much as nine per cent this morning after it confirmed it is in early talks to buy assets from i newspaper owner JPI Media. The Daily Mirror publisher today said it is in discussions with JPI Media, which owns hundreds of regional titles across the UK, but warned [...]
Vodafone gets the green light for $22bn Liberty Global acquisition July 18, 2019 Vodafone has secured approval from EU regulators for its $22bn (£17.6bn) takeover of Liberty Global assets. The European Commission today said it has approved the merger on the condition that Vodafone complies with a string of commitments. Read more: Shareholders poised to oppose Vodafone pay report in dividend row The deal will see Vodafone take [...]
New Tube map shows you where to find London’s cheapest pints of beer on a night out July 18, 2019 Working out where to enjoy a pint without breaking the bank is one of the common stresses of London life. Fortunately, fastidious researchers have compiled a redesigned Tube map showing the cheapest pint in the pub closest to every station. Read more: Tube map shows the busiest morning rush hour sttaions in Zones 1 and [...]
Qualcomm braced for second EU antitrust fine July 18, 2019 US chipmaker Qualcomm is said to be facing a second fine from EU competition regulators for blocking a rival from the market more than a decade ago. The EU competition commission opened a probe into the company in 2015 for its alleged use of “predatory pricing” designed to force out UK rival Icera between 2009 [...]
Audioboom posts revenue surge as it doubles down on original podcasts July 18, 2019 Audioboom has posted a huge rise in revenue in the first six months of the year as it continues to cash in on advertising in the lucrative podcast market. The Aim-listed company reported first-half revenue of $9.8m (£7.9m), a huge increase on the $3.6m posted in the same period last year. Read more: Audioboom posts [...]
Retailer Koovs hangs hopes on 2020 growth despite drop in sales July 17, 2019 Indian fashion retailer Koovs said it is on track for a return to growth in 2020, despite a decline in sales over the last 12 months. The London-listed firm posted net sales of £7.5m in 2019, down from £9.6m the previous years, while revenue was flat at £6.4m. Shares in Koovs dropped more than six [...]
BT agrees £210m sale of London headquarters July 17, 2019 BT has agreed the sale of its London headquarters as it pushes ahead with a radical turnaround plan. Read more: BT may cut dividend to fund full-fibre rollout The telecoms giant today said it has sold the BT Centre, its home since 1984, to Orion Capital Managers for £209.6m. The deal for the 300,000 square [...]