EU eCig rule to be challenged August 19, 2014 TOTALLY Wicked has launched a legal challenge against the EU’s Tobacco Products Directive, which would result in e-cigarettes requiring a medicinal licence similar to nicotine patches and gums from May 2016. A hearing will take place in London on 6 October for an Administrative Court judge to determine whether the case can go to the [...]
Google shares up 1,000 per cent a decade after IPO August 19, 2014 A decade ago yesterday, just three years after the dot-com crash, a Silicon Valley search startup called Google debuted on the Nasdaq for $85 a share. Shares, priced at the low end of Google’s $85 to $95 range, jumped 18 per cent during the first day of trading to $100.34, valuing the company at over [...]
Imperial Tobacco share price rises as European trade improves August 19, 2014 FTSE 100-listed tobacco giant Imperial Tobacco saw its shares jump 2.34 per cent yesterday after its interim management statement said it expected modest profit growth this year due to improving European trading. The Bristol-based maker of Rizla and Gauloises also said it was on track to complete the acquisition of a number of US cigarette [...]
Scottish independence snubbed by John Menzies as aviation and distribution giant backs No vote August 19, 2014 Edinburgh-based airport services and logistics firm John Menzies says it hopes that Scotland does not split from the United Kingdom as Scottish companies will have more opportunities if Britain is not split up. “We don’t actually think Scotland should be independent,” said John Menzies finance chief Paula Bell. “We’ll be so glad to get back [...]
Punch Taverns launches long-awaited £2.3bn debt deal August 18, 2014 BRITAIN’S second largest pub group yesterday launched a £2.3bn debt restructuring proposal, largely unchanged from the one announced in June and aims to reduce Punch’s debt by £600m, now with the support of 65 per cent of its lenders. After nearly 650 days of negotiations with lenders over how Punch could best secure the future [...]
Punch Taverns chair Stephen Billingham: I came for the challenge August 18, 2014 Stephen Billingham knew his time at Punch Taverns wouldn’t be a walk in the park, in fact he says that was exactly why he came: “I enjoy doing interesting things, these challenges are part of the appeal to come in and get involved.” But when he joined as chairman in 2011, not even Billingham could [...]
EE crowned best UK mobile network, but rivals closing in August 18, 2014 Mobile operator EE was crowned the UK’s best performing mobile network, according to an independent study out today. The tests by RootMetrics, the leading independent mobile analytics firm, found that EE’s customers received better calling, texting and mobile internet performance than rival operators Three, O2 and Vodafone during the first half of 2014. “Today’s results, [...]
Index Ventures and North West Fund head the list of top 10 technology investors in Britain August 18, 2014 Venture capital (VC) funds Index Ventures and North West Fund topped a list of the most active venture investors in UK-based tech firms since 2009, according to data from CB Insights. Index’s recent UK investments include a $65m (£38.8m) funding round for Funding Circle, the peer to peer lending service, in July and a [...]
Quindell to face investors in the wake of half-year challenges August 17, 2014 Embattled insurance firm Quindell will face investors this week as it reports its first set of results since its shares were hit by US short seller Gotham City Research in April, an unsuccessful premium London listing in June, and swirling doubts that surround its key contract with RAC. Quindell, whose shares plummeted 60 per cent [...]
Poultry empire Moy Park eyes £1bn stock float August 17, 2014 MARFRIG, the Brazilian owner of food giant Moy Park, is exploring plans for a London public offering of the firm which could value the poultry producer at £1bn. Moy Park, which supplies meat to fast food chains, including McDonald’s and Burger King, issued £200m of bonds earlier in the year, seen as a precursor to [...]
