Tui share price soars as rival Thomas Cook bites the dust September 23, 2019 Tui’s share price bumped up almost 10 per cent today after Thomas Cook fell into liquidation. Travel operator Tui saw shares rise just shy of 10 per cent before trimming gains to stand 7.7 per cent up at 903p in early trading as its rival collapsed under the weight of a £1.7bn debt mountain. Read [...]
Thomas Cook falls into liquidation as rescue talks collapse September 23, 2019 Thomas Cook has collapsed into liquidation after failing to find the £1.1bn required to keep it afloat. Talks collapsed overnight to sink the holiday firm, leaving around 150,000 British holidaymakers stranded abroad. Read more: Thomas Cook teeters on the brink as 11th hour talks look set to fail The government will now charter dozens of [...]
EU keen to secure Brexit deal, says Stephen Barclay after ‘detailed’ talks September 20, 2019 The EU and the UK have a “shared desire” to clinch an exit deal before 31 October, Brexit secretary Stephen Barclay said today, though Ireland sounded a negative note on today’s talks. Saying that “no-one” wants a no-deal Brexit, Barclay added that the two sides have held “serious detailed discussions” in a bid to reach [...]
Harriet Harman won’t ‘back down’ in bid to replace Speaker John Bercow September 20, 2019 Labour MP Harriet Harman has refused to “back down” in her bid to become the next House of Commons speaker after her constituency party spoke out against her running for the post. The Camberwell and Peckham constituency party voiced “disquiet” after she threw her hat in the ring to succeed John Bercow, who has said [...]
Thomas Cook on the brink of collapse: What happens now? September 20, 2019 Thomas Cook could collapse as early as Sunday if it cannot find another £200m to seal a rescue deal. The historic British company said it is in talks to find the extra cash with stakeholders like top shareholder Fosun and lenders. Read more: Thomas Cook’s share price crashes as investors demand another £200m But even [...]
Google plugs €3bn into European data centre expansion September 20, 2019 Google is set to pour another €3bn into European data centres over the next two years as it moves to expand its reach across the continent. The money includes a fresh €600m for Finland’s Hamina data centre, bringing Google’s investment in the location to €2bn since 2009. Read more: Review: Why the Google Nest Max [...]
Eve Sleep cancels Simba merger talks as it warns of revenue hit September 20, 2019 Eve Sleep has called off a potential merger with rival Simba Sleep as it said “now is not the right time” to make an acquisition. Eve, which overhauled its management team in March, has decided to focus on its own business recovery instead of the talks, which it confirmed were underway last month. Read more: [...]
Debenhams scores victory over landlords in High Court battle September 19, 2019 Debenhams has won a High Court battle with landlords to push through its CVA proposal that will lead to store closures. Sports Direct owner Mike Ashley had funded the landlords’ case after his significant shareholding was wiped out when Debenhams went private in a rescue deal. Read more: Sports Direct ‘trying to drive Debenhams into [...]
Kier Group turnaround ‘heading in right direction’ despite crashing to £245m loss September 19, 2019 Kier Group’s stock recovered to finish up 1.1 per cent today as shareholders appeared cautiously optimistic about its pricey turnaround plan. The struggling outsourcer staggered to a £245m loss in its latest full year, but trimmed its net debt by more than 10 per cent to £167m. Read more: Kier suspends dividend and unveils plan [...]
Watchdog warns JD Sports’ £90m Footasylum merger could hurt competition September 19, 2019 The UK’s competition watchdog has warned that JD Sports’ £90m move for rival Footasylum may hurt competition on the high street, referring it for a deeper investigation. The Competition and Markets Authority (CMA) will begin a second phase of scrutiny into the acquisition. Read more: Government intervenes in £4bn Cobham takeover on national security grounds [...]
