Sir Philip Green offers landlords cash to save Arcadia rescue plan June 7, 2019 Sir Philip Green has offered landlords £10m a year of his family’s cash to offset the impact of rent cuts in a bid to secure their backing to rescue his retail empire. Landlords had been asked to slash rental costs by 30 per cent to 70 per cent across 194 of Arcadia’s 566 UK and [...]
Barnes & Noble bought by Waterstones owner Elliott for $476m June 7, 2019 US bookseller Barnes and Noble will be taken private by hedge fund Elliott Management in a $475.8m deal. The price of $6.50 per share represents a premium of 42 per cent on Wednesday’s price, a day before reports of a potential deal emerged. Read more: Waterstones acquires Foyles bookshops as it squares up to [...]
Boris Johnson’s lawyers say Brexit case should be thrown out of court June 7, 2019 Boris Johnson’s lawyers told the high court that a case alleging the former foreign secretary lied during the 2016 Brexit campaign should be thrown out. Last month a judge ruled that Johnson must appear in court to face accusations of misconduct while in public office. Read more: Boris Johnson officially launches Tory leadership campaign The [...]
Ferrexpo shares increase on earnings expections rise June 7, 2019 Shares in oil and gas giant Ferrexpo jumped eight per cent this morning after the miner announced that earnings are expected to rise. Ferrexpo said group earnings before interest, tax, depreciation and amortization would “increase materially” compared with the first half of 2018. Read more: Oil dips to four month low as US inventories soar [...]
Ex-City minister slams FCA after Woodford suspension June 7, 2019 Former City minister Lord Myners slammed the financial regulator for failing to act on signs that Neil Woodford’s flagship fund was in trouble. Myners said the Financial Conduct Authority “should have been awake” to issues at the Woodford Equity Income Fund. The former star trader’s fund was suspended this week following a surge in investor [...]
Retail fund sales bounce back after six months of outflows June 6, 2019 The fund market returned to positive net retail sales for the first time in six months in April as investor confidence bounced back. Sales reached £2.2bn as savers embraced ISA season, with sales that can be directly traced back to an ISA wrapper hitting £826m. Read more: Brexit chaos sparks fifth consecutive month of fund [...]
CMC Markets profit plunges on regulatory crack down June 6, 2019 CMC Markets profit plunged 89 per cent last year as the spreadbetter struggled with ramped up regulations. The figures Profit before tax fell from £60.1m to £6.3m in the year to the end of March. Operating income dropped by 30 per cent from £187.1m to £130.8m, in line with market expectations following a trading update [...]
Extinction Rebellion protests: 26 arrested after London Stock Exchange climate change protest April 25, 2019 Police arrested 26 people this morning after climate change activists blocked the London Stock Exchange as the Extinction Rebellion protest group targeted Square Mile financial institutions. Read more: Climate change protesters glue themselves to London Stock Exchange The Metropolitan Police said they were arrested on suspicion of aggravated trespassing. Meanwhile other activists were demonstrating outside [...]
Patisserie Valerie reveals which London cafes are set to close as timeline charts cafe chain’s collapse February 4, 2019 Administrators have closed 71 stores owned by Patisserie Holdings after the firm collapsed in late January, resulting in 920 redundancies. A total of nine Patisserie Valerie branches have been shut down in London, with a further three Debenhams concessions closed. Read more: Patisserie Valerie shareholders consider legal action after company collapses The firm’s two Glasgow stores [...]
Richard Branson’s Virgin Galactic tourist spaceship successfully touches the edge of the world in today’s test flight December 13, 2018 Rocket man and Virgin billionaire Richard Branson's commercial space programme successfully reached the edge of the world's atmosphere for the first time in its fourth test flight across the US today. The Virgin Galactic Spaceship Two rocket, which was carried up to a height of above 12,000 metres by a specially-designed plane before igniting its motors, reached [...]
