Moody’s warns chains like McDonald’s could be hit as US egg-prices are set to reach record highs with another bout of Avian flu November 25, 2015 Egg prices in the US may hit new highs this winter, as the industry remains shell-shocked from the worst bout of Avian flu ever recorded earlier this year. A report from Moody's Investor Service warns another case of Avian flu may hit egg-laying flocks of hens, placing more pressure on an already scarce resource. Prices rose to $2.97 a dozen for [...]
The grass is always greener… Three Goldman Sachs investment bankers leave for Uber November 25, 2015 It's supposed to be one of the dream jobs for any banker, but three Goldman Sachs employees think the grass is greener… at Uber. Three mid-level bankers from Goldman Sachs' technology investment banking group, based in San Francisco, have left to join Uber recently, which was first reported by Reuters. The bank has always had a close [...]
United Utilities miss expectations as profits fall to £205m November 25, 2015 The UK's largest water company, United Utilities, reported disappointing half year results today, for the six months to the end of September. Its share price was down 0.5 per cent this morning, to 953.25p, having shot up initially to 963p. The figures Revenues slipped to £857m from £859.4m this time last year. Pre-tax profits fell to [...]
Organic coffee company Cru Kafe turns to Seedrs to raise £300,000 in crowdfunding campaign to “stabilise its working capital” November 24, 2015 Ethical coffee brand Cru Kafe is looking to raise £300,000 in an equity fundraiser on crowdfunding site Seedrs. In exchange for 5.76 per cent of the company's stock, the Cru Kafe, which makes organic, Fairtrade coffee capsules for espresso machines, is looking for cash to help grow its business. Co-founder and chief executive Colin Pyle told City A.M. the [...]
All Bar One and Harvester owner Mitchells & Butlers reinstates dividends despite “modest sales” November 24, 2015 FTSE 250-listed pub group Mitchells & Butlers is resuming dividend payments after a seven year break. The figures Revenue at the group, which owns All Bar One, Browns and Harvester brands, was up 6.6 per cent in the full year ending 26 September, to £2.1bn, and pre-tax profits were just up on last year's £123m, at £126m. However, like-for-likes softened over the [...]
Rockhopper merges with Falkland Oil and Gas in a £57m deal to better face “challenging” oil and gas market November 24, 2015 Rockhopper, the AIM listed oil and gas exploration company operating in the Falkland Islands, is to merge with Falklands Oil and Gas in a £57m deal. Shareholders in exploration outfit Falklands Oil and Gas, will receive 0.2993 Rockhopper shares for each of theirs, valuing Falklands Oil and Gas stock at 10.70p a share, an 11 per cent premium to its [...]
These are the biggest mergers that have made 2015 a record-breaking year for global M&A, worth $4.2 trillion November 24, 2015 Yesterday's $160bn merger between Viagra-maker and Allergan, which makes Botox, helped the value of 2015 deals to grow to $4.2 trillion (£2.8 trillion) – an all-time record high. But Pfizer's merger is just one of many eye-watering deals that have made 2015 the year of the mega-deal. In fact, five deals from 2015 make it in to the top 20 deals [...]
De La Rue share price falls after the Bank of England’s money printer posts a 38 per cent drop in profits November 24, 2015 De la Rue share price plunged this morning after releasing its interim results. Having opened up at 466p, the banknote and passport maker's stock dropped to 434.5p, down 2.3 per cent from yesterday's close. The figures Profits tumbled by 38 per cent to the six months ending 26 September, from £20.6m in 2014 to £12.8m. Group sales were down [...]
Deliveroo: Restaurant home delivery app raises $100m investment from DST Global and Greenoaks Capital as it looks to expand in Asia and Australia November 24, 2015 Deliveroo, the app which delivers meals from restaurants to your door, has raised $100m (£66m) to fund further expansion. Deliveroo today launches in Dubai, Hong Kong, Singapore, Melbourne and Sydney, thanks to $70m raised during the summer. It only launched internationally in April with locations in Paris and Berlin. This latest funding round, a series D investment, was [...]
CVC and Canada Pension Plan Investment Board team up to buy Petco from TPG and Leonard Green & Partners for $4.6n November 23, 2015 CVC announced it has agreed a deal with Canada Pension Plan Investment Board (CPPIB) to buy US pet supplies retailer Petco for $4.6bn (£3.04bn). CVC, the private equity giant that owns Formula One, will jointly aquire the company, which is the second largest petcare supplier in the US, from a group of investors led by TPG [...]
