Restaurant insolvencies jump by a fifth as casual dining sector squeeze continues September 16, 2019 The number of restaurants collapsing into insolvency has risen by 20 per cent in the last year amid tough competition on the UK high street. Roughly 1,410 restaurants went insolvent in the year to the end of June, up by a fifth on the previous 12 months, according to figures compiled by accountancy firm UHY [...]
Disney boss Bob Iger resigns from Apple board as streaming rivalry heats up September 15, 2019 Disney chief executive Bob Iger has stepped down from the board of Apple as the two companies prepare to go head to head in the escalating streaming wars. Iger stepped down from his role on 10 September, the same day Apple unveiled the price and launch date of its streaming service, according to a one-line [...]
Micro Focus taps Goldman Sachs to lead review after share price crash September 15, 2019 Struggling software firm Micro Focus is said to be close to appointing advisers at Goldman Sachs as it ramps up its review into a potential sale of the business. Read more: Micro Focus issues revenue warning and embarks on strategic review Micro Focus, which helps to extend the life of old software businesses, could also [...]
Benevolent AI’s valuation halves to $1bn in further blow for Neil Woodford September 15, 2019 Benevolent AI, the tech startup backed by troubled stockpicker Neil Woodford, is set to lose half its value as it announces a major new investment. The London-based firm, which is led by former Facebook executive and government minister Baroness Joanna Shields, has secured a cash injection from Singapore sovereign wealth fund Temasek. Read more: Fresh [...]
Hong Kong vows to chase London Stock Exchange after £32bn bid rejected September 13, 2019 Hong Kong Exchanges and Clearing (HKEX) has vowed to pursue a takeover of the London Stock Exchange (LSE) after its £32bn bid was unanimously rejected by the board. Read more: London Stock Exchange rejects Hong Kong takeover bid HKEX said its proposal offered a “highly compelling strategic opportunity to create a global market infrastructure leader”. [...]
EU competition chief Vestager eyes new data rules as she turns up heat on tech giants September 13, 2019 EU competition commissioner Margrethe Vestager has called for new rules to police how companies collect and use data as she dialled up the pressure on tech giants. Vestager, who this week was given expanded powers and a second term as competition chief, said more regulation was needed to protect the “fundamental values of our society”. [...]
Boris Johnson says he ‘won’t be deterred’ from Brexit on 31 October September 13, 2019 Prime Minister Boris Johnson has insisted he “won’t be deterred by anybody” from taking the UK out of the EU on 31 October. Johnson said he was “cautiously optimistic” of securing a deal a Brexit deal, but reiterated his vow that the UK would leave by the Halloween deadline “whatever happens”. Read more: Boris Johnson [...]
London Stock Exchange rejects £32bn Hong Kong takeover bid September 13, 2019 The London Stock Exchange (LSE) has rejected a £32bn takeover offer from Hong Kong Exchanges and Clearing (HKEX), citing “fundamental concerns” around the bid. LSE said it saw “no strategic merit” in the proposed takeover, which would have put an end to its mammoth $27bn (£22bn) merger with Refinitiv. Read more: Hong Kong bid for [...]
Clintons signs up advisers as greeting card stalwart eyes potential sale September 13, 2019 The owners of greeting card chain Clintons have called in advisers as they weigh up a potential sale of the business. The Weiss family, which previously controlled US firm American Greetings, has appointed professional services giant KPMG to oversee a review of strategic options. Read more: Card Factory delivers sales rise despite challenging consumer market [...]
China to exclude pork and soybeans from additional US tariffs September 13, 2019 China will exclude some agricultural products, including pork and soybeans, from additional tariffs on US goods in a bid to ease tensions ahead of trade talks. China’s State Council outlined the exemptions and encouraged companies to buy the key farm products, local media reported. Read more: European stocks higher after Donald Trump delays China tariffs [...]
