Competition and Markets Authority approves £1.4bn Unite Students acquisition of Liberty Living November 6, 2019 The UK competition watchdog has approved the £1.4bn acquisition of student accommodation provider Liberty Living by rival firm Unite Students. The Competition and Markets Authority announced today that it has decided not to escalate its investigation into the merger to a stage two inquiry after seeking comment from interested parties on whether the take over [...]
Mothercare shares surge after UK business enters administration November 6, 2019 Shares in Mothercare have soared this morning after the maternity and baby retailer’s UK business entered administration. Mothercare’s share price surged more than 36 per cent this morning, to 13p, after management firmed up administration plans and revealed further details on the company’s turnaround proposals. Read more: Mothercare shuts up shop in UK Last night [...]
Norwegian Air slumps after third share sale November 6, 2019 Shares in Norwegian Air fell more than nine per cent this morning after the struggling airline last night launched its third share sale in two years and a bond issue. The company raised 2.5bn kr (£211.5m) to meet its cash needs through 2020 after selling 27.25m new shares at 40 kr per share. Read more: [...]
Morrisons takes fight over data breach liability to Supreme Court November 5, 2019 Morrisons will begin its final appeal to the Supreme Court this week after losing a landmark case over the liability of employers in staff data breaches. The supermarket giant lost an initial challenge at the Court of Appeal in October last year after a judge ruled that the supermarket was legally liable for a former [...]
National Portrait Gallery to close for three years November 5, 2019 The National Portrait Gallery announced today it will close to close to the public for three years to allow a £35.5m refurbishment to take place. The renovation work – which will begin next year- will include a new entrance and “significant” refurbishment inside the listed building. Read more: National Portrait Gallery drops donation from Sackler [...]
Exercise startup Peloton narrows losses November 5, 2019 Fitness startup Peloton narrowed its losses in its first quarter despite pushing forward with expansion plans and investment in its online platform. The company posted a loss of $49.8m (£38.71m) in the three months to 30 September, reducing the figure by $4.8m on the previous year as the firm continued to target international growth. Read [...]
Wework rival IWG boosts revenue as franchise business expands November 5, 2019 Wework rival IWG boosted revenue in the third quarter as the flexible office space provider built momentum with its expansion plans and international franchise business. IWG reported a 9.4 per cent increase in revenue to £692.3m in the three months to 30 September, driven by the Europe, Middle East and Africa (EMEA) and US markets. [...]
Topps Tiles chief executive quits after 12 years November 5, 2019 Topps Tiles chief executive Matt Williams has announced plans to step down this month and will be replaced by the group’s finance chief. Williams will step down on 29 November following the publication of the company’s full-year results earlier that week, but will remain as an advisor to the business until the end of May [...]
Government ‘failed to deliver starter homes promise’ November 5, 2019 Ministers failed to deliver on a promise to build 200,000 new starter homes, despite announcing a £2bn investment to support the project, according to the government spending watchdog. Starter homes were intended to be houses built for first-time buyers under the age of 40 and sold at a 20 per cent discount, and in 2015 [...]
Jewellery maker Pandora warns of steeper sales decline November 5, 2019 Jewellery retailer Pandora this morning warned of a steeper fall in sales this year, as it said efforts to revitalise the brand had weighed on costs in the third quarter. Pandora said organic growth in 2019 is expected to be minus seven per cent to nine per cent, compared to previous guidance of a three [...]
