Snapchat hits $12bn value in latest funding November 9, 2014 PHOTO messaging app Snapchat is currently fundraising at its highest ever valuation of up to $12bn (£7.5bn) according to reports. The startup, which was launched in 2011 by three Stanford University students, has virtually no revenue, but is in talks with a number of potential investors, including Yahoo, Kleiner Perkins Caufield & Byers and others, [...]
Carat secures £140m UK government deal November 9, 2014 THE UK government’s £140m media buying account has been awarded to agency Carat, after a legal challenge by WPP-owned M4C was shot down by the courts last week. While Carat was handed the account in September, incumbent agency M4C lodged a complaint over the way the pitching process had been handled, delaying the approval of [...]
John Lewis ad tops 3m views November 6, 2014 JOHN Lewis is on track to capture the hearts, imaginations, and hopefully Christmas spending, of the UK once again with its festive ad that has hit 3m views on YouTube in just 24 hours. The ad has seen the success ahead of its TV debut on Channel 4 tonight. “What sets the John Lewis advert [...]
Cable & Wireless in game-changing $1.85bn deal to buy Columbus International November 6, 2014 Cable & Wireless Communications (CWC), the Caribbean and Central American telecoms operator, has agreed a deal to buy Columbus International, a fibre-based telecoms provider backed by US cable TV billionaire John Malone, for $1.85bn (£1.13bn). The FTSE 250-listed firm said the huge deal, which was worth nearly as much as CWC’s entire £1.14bn market [...]
AstraZeneca surpasses revenue expectations as Pfizer bid fades November 6, 2014 PHARMA giant AstraZeneca yesterday reported that third-quarter revenues had grown five per cent to $6.54bn (£4.09bn), beating analyst expectations of $6.41bn. The results mark the FTSE 100-listed firm’s third consecutive quarter of growth, having rejected a £74bn takeover bid by Pfizer in May. “I’m pleased to report our third consecutive quarter of revenue growth, driven [...]
Government weakness drags on Inmarsat’s third-quarter revenues November 6, 2014 BRITISH satellite operator Inmarsat yesterday posted a rise in profit for the third quarter, but warned it expected to see continuing weakness from its government arm as revenues from the unit fell $17.8m (£11.2m), dragging overall revenues down two per cent. Inmarsat reported overall revenues of $300.6m for the quarter to 30 September, while year-on-year [...]
Fidessa sees market conditions improving but warns on sterling November 6, 2014 TRADING technology firm Fidessa Group yesterday reported improving conditions across its markets due to “reduced headwind” from fewer consolidations, restructurings and closures in its customer base and an improving deal pipeline. “In particular, increased interest has been seen in new functionality within the core markets, as well as strong demand for the derivatives and service-based [...]
BT scores key win in battle for Sky Sports November 5, 2014 Britain’s largest pay TV broadcaster BSkyB was left bruised yesterday after a UK court ruled that it must make its flagship sports channels available to its biggest rival, a measure it had resisted for four years. The interim ruling is the latest episode in a four-year legal saga stretching back to an era when Sky [...]
Quartix IPO: As London’s frosty market reopens co-founder Andy Walters on why he braved the waters November 5, 2014 Telematics founder Andy Walters braved the City’s turbulent times As the London market starts to thaw, with the likes of Virgin Money gearing up to float after delaying when the global sell-off sent British shares tumbling, one small vehicle-tracking firm has braved the volatile market and will float today. Quartix co-founder and managing director Andy [...]
Leyne, Strauss-Kahn & Partners shuts after “additional commitments” discovered which “aggravate its delicate financial situation” November 5, 2014 An investment firm formerly associated with Dominique Strauss-Kahn has declared itself insolvent following the discovery of new dealings that the firm says have knocked its financial situation. Leyne, Strauss-Kahn & Partners (LSK) was set up last year by French-Israeli entrepreneur Thierry Leyne, who died on 23 October in an apparent suicide. Three days earlier the [...]
