Online gambling firm 888 grows profits after year of strong expansion March 12, 2019 Online gambling firm 888 has posted double-digit growth in profit before tax for the full year, despite a small decline in revenue. The figures Adjusted profit before tax increased 11 per cent to $86.7m (£65.6m). Revenue declined by two per cent to $529.9m. Adjusted earnings before interest, tax, depreciation and amortisation was up six per cent [...]
Greystar, PSP and Allianz buy Shoreditch student housing scheme for £160m March 11, 2019 Property giant Greystar has led a consortium of buyers that has snapped up a student accommodation project in Shoreditch from investment firm Apache Capital for £160m. Greystar, alongside partners Public Sector Pension (PSP) Investments and Allianz Real Estate, has exchanged contracts to acquire the Paul St. East development. Read more: Greystar and Henderson Park snap [...]
MPs urge Ofcom to hold mobile operators to account on rural 4G March 11, 2019 MPs have written to Ofcom calling on the regulator to ensure mobile operators fulfil their obligations to boost 4G coverage in rural areas. The all-party parliamentary group (APPG) on rural business welcomed Ofcom’s commitments for 90 per cent geographic coverage by all four networks across the UK. Read more: Customers can walk out of slow [...]
Telecom Italia investor Elliott calls for shareholder support amid row with Vivendi March 11, 2019 The bitter dispute between two Telecom Italia shareholders deepened today as activist investor Elliott urged shareholders to back its plan ahead of a crucial meeting this month. US investment fund Elliott is locked in a power struggle with fellow investor Vivendi over the future of the struggling Italian telecoms firm. Read more: Telecom Italia warns [...]
Luxury retailer Farfetch to merge Chinese business with JD.com March 11, 2019 Luxury fashion retailer Farfetch will merge its China sales platform with ecommerce giant JD.com before the end of the year as it looks to cash in on growing demand for luxury goods in the country. The merger, first announced last month, comes after the London-based firm bought Toplife, JD.com’s luxury fashion venture. Read more: Chinese [...]
Tesla hikes vehicle prices as it scales back drastic store closure plan March 11, 2019 Tesla will raise the prices of its high-end vehicles by roughly three per cent as it scales back a controversial plan to close most of its stores. The electric car manufacturer said the price hike will apply to the more expensive variants of the Model 3, as well as Model S and X, but not [...]
Tokyo court blocks Ghosn’s request to attend Nissan board meeting March 11, 2019 A Tokyo court has denied former Nissan boss Carlos Ghosn’s request to attend the company’s board meeting tomorrow, Reuters reported, citing local media. The ousted car executive had sought permission from the Tokyo District Court to attend the meeting, paving the way for a dramatic confrontation with his former colleagues. Read more: Former Nissan boss [...]
Carlos Ghosn seeks permission to attend Nissan board meeting March 11, 2019 Former Nissan boss Carlos Ghosn is seeking permission from a Tokyo court to attend the car manufacturer’s board meeting tomorrow, Reuters reported, citing his lawyer. Ghosn, who was released last week on bail of ¥1bn (£6.85m), has applied to the Tokyo District Court for permission to attend the meeting, his lawyer Junichiro Hironaka told reporters. [...]
Superdry urges investors to vote against founder Julian Dunkerton’s return March 11, 2019 Superdry will hold a shareholder meeting on 2 April to vote on the reinstatement of Julian Dunkerton after months of rising tensions between the founder and the board. The fashion retailer confirmed the meeting in a circular sent to shareholders this morning, but urged them to vote against the reappointment of Dunkerton. Read more: Hundreds of [...]
Senior Tory MPs urge Theresa May to cancel Brexit vote March 11, 2019 Senior Tory MPs have urged Prime Minister Theresa May to cancel tomorrow’s vote on her Brexit deal amid fears she faces another heavy defeat, the Times has reported. Leading Conservatives have told May she should pull the meaningful vote unless she secures major concessions from the EU. Read more: Brexiters dismiss reports they could swing [...]