Time Warner share price dips after Rupert Murdoch’s aborted Fox bid August 6, 2014 Not even higher-than-expected profits and a boosted share buyback could prevent Time Warner’s stock crashing 12.85 per cent yesterday, in the wake of Rupert Murdoch’s Twenty First Century Fox withdrawing its $80bn (£47.5bn) bid for the company. US media conglomerate Time Warner reported soaring profit of $843m, beating market expectations, during the second quarter to [...]
Rupert Murdoch doesn’t retreat, he just regroups – Bottom Line August 6, 2014 And just as quickly as he arrived, Murdoch’s gone. His more-than-$80bn (£47bn) bid for Time Warner was swiped from the table almost as suddenly as it landed, and some Time shareholders will be disappointed to see it go. Underestimating Rupert Murdoch is never wise, and though his withdrawn bid may look like a retreat, he’s [...]
Share prices slump as Sprint picks new chief after T-Mobile takeover bid crumbles August 6, 2014 Just hours after US telecoms giant T-Mobile rejected a $15.5bn (£9.2bn) takeover bid by French conglomerate Iliad, saying it was not high enough, rival US bidder Sprint reportedly dropped its own bid in the face of mounting regulatory resistance. Sprint also announced a change of leadership following the failed bid, replacing long-serving chief executive Dan [...]
Stephen Kelly: Top civil servant to join Sage as chief executive August 6, 2014 Top software company Sage Group yesterday announced that Stephen Kelly would succeed Guy Berruyer as group chief executive from 5 November. Berruyer, who has led the FTSE firm for four years and worked at the firm for 17, announced his departure in May, saying at the time: “Life is about making choices, and at [...]
Apple and Samsung scale back global smartphone patent war August 6, 2014 Global tech titans Samsung and Apple have agreed a truce to drop all litigation between the two smartphone giants outside the US. The deal means that legal battles between the two companies, over the rights to the technology used in their rival iPhone and Galaxy smartphones, will end in nine countries, including the UK, Germany [...]
Digital ad profit jumps despite revenue slump at Johnston Press August 6, 2014 REGIONAL newspaper publisher Johnston Press, whose titles include The Scotsman and The Yorkshire Post, said its underlying profit in the first half of 2014 tripled to £6.1m, despite a slump in revenue. Shares in the publisher closed up 0.48 per cent at 4.22p as investors remained committed to the firm, which has reduced its debt [...]
Fox pulls its proposal to buy Times Warner August 5, 2014 RUPERT Murdoch’s 21st Century Fox today announced that it had withdrawn its proposal to acquire Time Warner. Last month, Fox offered to buy Time Warner for about $80bn (£47bn), or about $85 per share, in a mix of cash and stock. However, Murdoch said: “We viewed a combination with Time Warner as a unique opportunity [...]
Asos slumps to 18-month low August 5, 2014 SHARES in online clothing retailer Asos hit an 18 month low yesterday after Liberum said it expected shares to fall a further 38 per cent in coming months as its first mover advantage was eroded by market competitors. Asos’ shares have fallen 62 per cent since the start of the year in the wake of [...]
BT misses out on £500m deal August 5, 2014 BRITISH Telecom (BT) has been passed over for a lucrative government communications contract, worth up to £500m, to upgrade the network used by the emergency services. BT was bidding to supply police, fire and ambulance workers with telecoms services for the next seven years, and building and maintaining the network’s sites for 15 years. Incumbent [...]
888 Holdings gambles on bingo and b2b arms in second-quarter boost August 5, 2014 Betting firm 888 Holdings saw a 15 per cent bump in its revenues during the second quarter to 30 June, helped by growth across all of its gaming divisions. 888’s bingo and business-to-business arms saw the strongest growth pushing the firm to sales of $111m (£65.8m) during the quarter. “This outcome has been driven by [...]
