By: William Turvill

I write about M&A, deals, IPOs, private equity, asset management, media and a few other areas for City A.M. I also write news features and am always interested in interviewing and profiling high-profile business figures. I previously worked for Press Gazette and Mail Online.

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Pepsico’s revenue drops three per cent, but earnings beat analyst expectations

April 18, 2016

Pepsico's reported revenue fell by 2.9 per cent in its first quarter, but its earnings beat analysts' expectations. The figures In the quarter to 19 March, the Pepsi, Tropicana and Quaker porridge maker reported net income attributable to the firm of $931m (£657m), down from $1.22bn in the same period last year. Its net revenue was $11.86bn, down [...]
Dave and Gold owner UKTV tipped for deal spree if BBC is forced to sell off £500m stake in broadcaster

April 18, 2016

UKTV is being tipped to go on an acquisition spree if the BBC is forced to sell off its £500m-valued stake. The broadcaster owns 10 channels including Dave and Gold, which broadcasts Only Fools and Horses, Alan Partridge and Fawlty Towers. It has been reported that if the BBC is forced to sell its 50 per cent stake, [...]
Sir Martin Sorrell defends £63m pay package amid fears of 2016 shareholder spring: “If WPP does well, I do well”

April 18, 2016

Sir Martin Sorrell, the founder and chief executive of WPP, has defended his £63m pay package. Sorrell was a victim of the so-called shareholder spring in 2012, with 60 per cent of WPP shareholders rejecting his £6.8m pay that year. There was also a repeat in 2014 when 28 per cent voted against his remuneration [...]
“Challenger broker” Zeus Capital hails bucking the investment banking trend with 2016 figures

April 18, 2016

Boutique investment bank Zeus Capital described itself as a "challenger broker" as it released results showing it has "bucked the trend". In the year to 31 March 2016, Zeus said it had completed 23 transactions, raising £1.5bn – up from around £500m in the previous year – across the public and private markets. Its revenue for the period was [...]
EU referendum and Brexit risk low priority for dealmakers in global M&A survey

April 18, 2016

The prospect of a Brexit is a low-priority risk for global dealmakers, a new mergers and acquisitions (M&A) report suggests. Research by law firm Herbert Smith Freehills (HSF) also found global appetite for M&A has been largely unaffected by economic volatility in 2016. Read more: Mr Kipling owner not tasty enough for McCormick after all The authors of [...]
Brexit vote could not see merged London Stock Exchange group’s headquarters moved from UK to Germany, sources close to deal confirm

April 17, 2016

Sources close to the London Stock Exchange-Deutsche Boerse deal have dismissed the prospect of the merged company having its headquarters outside of the UK in the event of a Brexit. Under the terms of the proposed £21bn merger, set out last month, the headquarters of the holding company, UK TopCo, would be based in London. An [...]
Cinema chain Vue considering market flotation after boosts from James Bond and Star Wars

April 17, 2016

Cinema chain Vue is considering a market flotation next year. The initial public offering (IPO) plan comes after a strong period for the group, helped by Star Wars: The Force Awakens and the latest James Bond film, Spectre. News of the planned float offers further encouragement that the market is recovering from a slow start [...]
Monarch Airlines considers inbound and outbound bids less than two years after Greybull flew to its rescue

April 17, 2016

Monarch Airlines is considering both inbound and outbound bids less than two years after it nearly collapsed. Monarch Group has confirmed it has "generated inbound interest". And it has taken on Deutsche Bank to "evaluate both inbound and outbound opportunities". Easyjet is said to be considering a bid for the airline along with China's HNA. And [...]
Technology firm agrees $2bn acquisition to create merged company with $2.5bn revenue

April 15, 2016

Mitel has agreed a $1.96bn (£1.38bn) deal to acquire fellow technology company Polycom. The deal would create a merged company with $2.5bn revenue and 7,700 employees. Under the terms of the agreement, Polycom investors would be entitled to $3.12 and 1.31 Mitel common shares for each of their shares. Read more: China and Silicon Valley to keep [...]
Citigroup profits plunge 27 per cent in first quarter, but earnings per share and revenue beat expectations

April 15, 2016

Citigroup's profits and revenue plunged in the first quarter of 2016, but the bank performed ahead of expectations. The figures The US bank reported a profit of $3.5bn (£2.5bn), down from $4.8bn in the first quarter of 2015. The company's revenue during the period was $17.56bn, down 11 per cent from $19.7bn. Its investment banking revenues for [...]

Mandelson wanted a near £550,000 payout – and got £75,000

2026 Fifa World Cup: Iran ‘welcome’ despite US military attacks, Trump

Mother’s Day 2026: 5 amazing ways to celebrate in London

By: William Turvill

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