Three’s the magic number for Carphone in joint mobile talks July 16, 2014 Carphone Warehouse is in advanced negotiations with mobile operator Three to launch its own branded mobile offering on the network, akin to Tesco Mobile or Virgin Mobile. While branding and details are yet to be decided, people close to the talks told City A.M. that Carphone could launch its mobile offering by the end of [...]
Tobacco firms Reynolds American and Lorillard light up a £16bn takeover July 16, 2014 Reynolds American, the second largest US tobacco firm, yesterday announced it would buy the number three US tobacco firm, Lorillard, in a $27.4bn (£16bn) deal. The deal, which gives Reynolds control of Lorillard’s Newport menthol cigarettes, strengthens the combined company’s hand and sets up a battle with Marlboro-maker Altria Group for the e-cigarette market. FTSE [...]
Blinkx share price up as rebellion fails to derail turnaround aim July 16, 2014 Embattled video search and advertising group Blinkx yesterday made tentative steps on the road to recovery, despite a shareholder revolt at its annual meeting that saw nearly 30 per cent of its investors vote against the appointment of one of its new directors. Blinkx shares closed up 2.9 per cent at 35.25p after it revealed [...]
Bottom Line: A mixed bag on Blinkx’s road to recovery July 16, 2014 IT CAN hardly be said Blinkx’s annual general meeting (AGM) went without a hitch yesterday, despite the worrying signs Blinkx was on the right path to recovery. Let’s start with the hitches. That nearly 30 per cent of shareholders failed to support Blinkx’s appointment of a new director because they “weren’t aware of who he [...]
Bwin.Party looks to make €10m additional cost savings in 2014 July 16, 2014 Online gaming company Bwin.Party yesterday said it would look to cut an additional €10m (£7.9m) in costs to help it meet its targets as the firm faces additional pressure from an activist investor. In a trading update yesterday, the firm said sports betting had benefitted from the World Cup but described the performance of its [...]
Sterling and Ukraine hit ITE July 16, 2014 EXHIBITIONS organiser ITE Group yesterday said its third-quarter revenue had fallen about 24 per cent, hurt by the absence of the biennial Moscow International Oil & Gas Exhibition, currency fluctuations and the impact of the Ukrainian crisis. The company, which organises over 230 exhibitions and conferences each year, said revenue fell to £73m for the [...]
Telecom Plus profits to soar July 16, 2014 TELECOM Plus, the London-listed utility services company, yesterday said it expected profit during the first half of the year to be significantly higher than last year, as it saw a 25 per cent growth in customer numbers during the quarter to 14 July. Telecom Plus said it continued to expect full-year profit to grow by [...]
New Wonga chief scraps puppets in bid to clean up its brand July 14, 2014 Newly appointed Wonga chairman Andy Haste wasted no time yesterday in announcing a number of sweeping changes for the controversial payday lender, including the removal of puppets from the firm’s TV advertising. Former RSA Insurance chief executive Haste outlined six goals on Wonga’s website, stating that he needed to “re-present Wonga to the public” – [...]
Quindell bids to reassure investors July 14, 2014 Quindell, the Aim-listed insurance firm whose shares plummeted 60 per cent following a scathing blog post by US short seller Gotham City Research, came out fighting yesterday with a bullish trading statement showing a 117 per cent jump in revenues over the past six months. Shares in the firm rose 30 per cent on the [...]
Wonga appoints former boss of RSA as chair to lead turnaround July 14, 2014 Payday lender Wonga yesterday named former RSA Insurance group chief executive Andy Haste as chairman, who vowed to keep the company in line with tougher rules being imposed the loans industry. Haste replaces former chair and co-founder Errol Damelin, who announced his departure last month. Wonga and other short-term lenders have come under [...]
