Silver Lake pours $500m into Man City owner to break sports group valuation record November 27, 2019 Private equity giant Silver Lake has made a $500m (£389m) investment into Manchester City Football Club’s owners. The cash influx means Abu Dhabi’s City Football Group is now worth $4.8bn, the firms said today, breaking the valuation record for a sports organisation. Read more: Mourinho’s changes spark Spurs comeback to seal last 16 The deal [...]
FCA to ban marketing of mini-bonds amid concerns over investor losses November 26, 2019 The Financial Conduct Authority (FCA) today set out to ban the mass marketing of speculative mini-bonds to ordinary investors. The watchdog said the unregulated bonds could cause harm to amateurs, following a spate of investor losses. Read more: What are mini-bonds? Everything you need to know about the products hit by the FCA’s marketing ban [...]
Pets At Home profit jumps in first half as it eyes top-end full-year earnings November 26, 2019 Pets At Home’s share price surged in trading today after it posted a bumper profit increase and strong like-for-like sales growth for the first half of its financial year. Read more: Short sellers tail off at Pets At Home The figures The retailer enjoyed an 18.9 per cent year-on-year increase in underlying profit before tax [...]
De La Rue shares plunge as it scraps dividend and warns of ‘significant doubt’ over future November 26, 2019 De La Rue has bailed on plans for a dividend this year and warned there is “significant doubt” on its ability to continue to operate, sending shares plummeting. “We have concluded there is a material uncertainty that casts significant doubt on the Group’s ability to continue as a going concern,” it said today as it [...]
Topps Tiles warns General Election jitters are causing its sales to slump November 26, 2019 Topps Tiles posted a dip in profit for its full-year results today, as it warned the upcoming General Election has hurt customer demand. The figures Profit before tax slipped 1.6 per cent year on year to £12.5m for the 12 months to the end of September. Revenue climbed 1.1 per cent to £219.2m while Topps [...]
LVMH strikes $16.2bn deal for jeweller Tiffany November 25, 2019 Louis Vuitton owner LVMH has struck a $16.2bn (£12.6bn) deal to buy iconic Fifth Avenue jeweller Tiffany after first launching a bid late last month. The $135 (£105) per share deal will see the jeweller join top name brands such as Givenchy and Christian Dior under LVMH’s umbrella. Read more: When a fat finger caused [...]
FTSE 100 jumps on US-China trade war optimism as Tory polling boosts pound November 25, 2019 The FTSE 100 rose more than almost half a per cent higher today as China signalled it is willing to bring an end to its prolonged trade war with the US. Meanwhile sterling jumped 0.3 per cent higher as the latest election polls put the Tories on track to win a majority in December’s election. [...]
Hong Kong elections: Carrie Lam will reflect after pro-democracy candidates win in rout November 25, 2019 Hong Kong leader Carrie Lam has said today that the government will take heed of the public after pro-democracy parties overwhelmingly won local elections. Seventeen of 18 Hong Kong councils are now in the hands of pro-democracy councillors after citizens’ votes wiped out pro-Beijing candidates. The vote – and record voter turnout of 71 per [...]
Marks & Spencer hires ex-Tesco exec to fix struggling clothing division November 22, 2019 Marks & Spencer has named a new clothing boss to replace its ousted former head of the struggling division. Tesco’s former F&F clothing chief Richard Price will join as M&S’s new managing director of clothing home after Jill McDonald left the role in July. Read more: Poor clothing sales knock M&S’s half-year profit lower Marks [...]
Brexit Party manifesto: Nigel Farage calls Brexit the start of a ‘political revolution’ November 22, 2019 Brexit Party leader Nigel Farage called the UK’s departure from the EU “just the beginning of a political revolution” as he unveiled his general election pledges today. Condemning “broken promises” of rival parties’ past manifestos, Farage said his own pamphlet did not amount to a manifesto, saying party testing found voters associated the word with [...]
