Rocket Internet IPO sees share price plummet: Frosty welcome for German tech group as debut collapses October 2, 2014 German tech group Rocket Internet plunged over 14 per cent within minutes of their stock market debut in Frankfurt yesterday as investors gave Europe’s largest internet float since the dot-com crash in 2000 an icy welcome. The German internet firm debuted on the Frankfurt Stock Exchange, joining fellow German tech startup Zalando which went public [...]
Domino’s UK sales heat up October 2, 2014 DOMINO’S served up a strong set of UK results yesterday, reporting a 12.9 per cent like-for-like sales growth to £165.7m over the 13 weeks to 28 September. Despite the strong UK figures, chief executive David Wild said German sales, which fell 9.9 per cent during the same period to €2.5m (£2m), had disappointed. “Progress in [...]
Rovio cuts jobs as growth stalls October 2, 2014 FINNISH Angry Birds creator Rovio plans to cut up to 130 jobs, or 16 per cent of its workforce, saying growth has not been as strong as expected and it needs a simpler structure. Aiming to become an entertainment brand on a par with Walt Disney, Rovio has recently expanded the Angry Birds franchise into [...]
Zalando share price fizzles after explosive opening in Frankfurt stock debut October 1, 2014 Shares in Europe’s largest online fashion retailer Zalando gave up most of their opening gains on the Frankfurt stock market debut yesterday. After pricing at €21.50 shares soared as high as €24.10, but by the close of trading had retreated to just €21.569. Berlin-based Zalando started out selling shoes in Germany in 2008, inspired by [...]
UBM dives over fears it overpaid for Advanstar October 1, 2014 COMMUNICATIONS and events group UBM will buy US trade show organiser Advanstar Communications for $972m (£599m), it announced yesterday, becoming the top events organiser by revenue in the US, but its shares fell on concern it had overpaid. UBM said it will fund the deal through a £563m rights issue, which also dampened market sentiment [...]
Analysts call for Blinkx to sell up after second profit warning hits October 1, 2014 VIDEO search and advertising group Blinkx should sell up to a corporate buyer and return cash to shareholders, analysts said yesterday, after the group issued another profit warning sending shares plummeting. Nearly 13 per cent of Blinkx’s value was wiped off after the firm reported its earnings before interest, taxes, depreciation, and amortisation (EBITDA) for [...]
Apple retains smartphone sales lead ahead of iPhone 6 launch October 1, 2014 APPLE’S UK smartphone sales remained steady up to the launch of its new iPhone 6 last month, defying the historical trend of a sales slump ahead of the new devices release, according to data from Kantar Worldpanel. The iPhone 5C was the best selling smartphone in the UK during August, with 8.9 per cent share [...]
Quindell simply quizzical over its sliding shares September 29, 2014 EMBATTLED insurance outsourcer Quindell is baffled by another decline in its share price, it announced in a statement to the stock market yesterday, after shares fell 13 per cent last week. The company said in its statement yesterday that it “notes the recent share price performance and confirms that it knows of no reason for [...]
CityFibre revenue increases but rising costs up fibre firm’s losses September 29, 2014 WHOLESALE fibre operator CityFibre reported a 45.6 per cent jump in revenues during the first half of the year as it secured a number of new long-term public sector contracts for use of its network. Despite the revenue growth CityFibre’s losses widened during the six months to 30 June, rising to £3.6m from £2.96m during [...]
Punch founder in £37m Strada restaurant deal September 28, 2014 HUGH Osmond, the entrepreneur behind Pizza Express, Punch Taverns and the insurance group Pearl, has bought the Strada chain of Italian restaurants in a £37m deal. Sun Capital Partners, Osmond’s private equity vehicle, is buying the Strada brand and 43 restaurants from the Tragus Group in a deal announced yesterday. Osmond said his plan for [...]
