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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Porn-no more for Richard Desmond as he sells adult entertainment network Portland TV for less than £1m

April 1, 2016

Richard Desmond, the owner of the Daily Express and Daily Star newspapers, has sold his adult entertainment network. Northern and Shell has announced the sale of Portland TV, the company behind Television X and Red Hot, for less than £1m as part of a management buy-out deal. Read more: Desmond hopes Mirror boss "Fox off" [...]
EU referendum: Brit owners and buyers of European holiday homes adopt a “watch and wait” approach to Brexit

April 1, 2016

Brits with holiday homes in Europe are adopting a "watch and wait" approach to the EU referendum. Hopefully from their sun loungers. A new poll this morning showed that while those intending to vote Leave or Remain is around even, there has been a reduction in those who believe the UK will vote to remain in the [...]
Crowdfunding website used by mobile challenger bank Mondo to raise £1m in 96 seconds celebrates £150m milestone

April 1, 2016

It has helped mobile banks, car parking apps, artisan food markets, Uber challengers and cocktail companies along their way. And now Crowdcube is celebrating a milestone: since launching in 2011, companies have raised £150m on its platform. The crowdfunding website estimates that its 381 successful raises – 34 of which have totalled more than £1m – will create 7,000 new jobs. Read more: Numis leads [...]
Investment banking revenue slumps to post-crisis low with 28 per cent year-on-year fall in first quarter of 2016

April 1, 2016

Global investment banking revenue has dropped to a post-crisis low, new figures suggest. In the first quarter of 2016, global turnover slumped to $14.4bn (£10bn) – down 28 per cent on the $20bn recorded in the first quarter of 2015. According to Dealogic figures, this was the worst first quarter since 2009. Read more: Investment banks' earnings set to [...]
Co-operative Bank’s annual loss more than doubles to £610m in 2015 as conduct charges add up

April 1, 2016

The Co-operative Bank's losses more than doubled in 2015 as the company dealt with conduct charges. The results have been released as the bank searches for its fourth chief executive since 2011. The figures The bank has reported pre-tax losses of £610.6m for last year, down from a loss of £264.2m in 2014. Read more: Co-op [...]
Executive pay and clarity around incentive plans are the most important issues for investors attending AGMs this year

March 31, 2016

Sir Martin Sorrell and Tidjane Thia, watch out: executive remuneration is the top priority for investors attending AGMs this year – and there has been an increase in those willing to vote against incentive plans. Some 70 per cent of institutional investors surveyed by Capita Asset Services said they would systematically vote against incentive plans when [...]
Numis expects to report year-on-year revenue and profits growth despite IPO volume plunging in UK and globally

March 31, 2016

Initial public offerings (IPOs) are helping Numis Corporation grow revenue and profits. In a trading update, the company said it expects to report year-on-year growth in the six months to 31 March 2016. Numis said issuance activity has remained strong during the period and that it has completed 27 equity transactions, including 10 IPOs, so far this [...]
Booking.com co-founder among investors as workforce management startup Planday raises $14m and plans US expansion

March 31, 2016

Planday, a workforce management startup for shift-based businesses, has raised $14m (£9.7m) in its second funding round. The round was led by Idinvest and also included angel investor Arthur Kosten, a co-founder of Booking.com. Read more: London legal tech startup raises £1.7m in funding round Planday received $3.75m in its first funding round, in 2014, and received [...]
HomeServe share price up after company announces $75m deal to take “largest single step” in US expansion

March 31, 2016

HomeServe's share price rose this morning after it announced a deal to take its “largest single step” in US expansion. The home repairs business announced this morning it has agreed to acquire Utility Services Partners (USP) for $75m (£52.2m) in cash on a "debt free cash free" basis at completion. It said the deal would [...]
Fastnet Equity shares rise after company announces £29.6m reverse takeover deal with Amryt Pharmaceuticals

March 31, 2016

The share price of Fastnet Equity, formerly known as Fastnet Oil and Gas, shot up this morning after it announced a £29.6m reverse takeover deal with Amryt Pharmaceuticals. If the reverse takeover is agreed, the new Aim-listed company would be called Amryt Pharma. Amryt, which was founded in August 2015, recently agreed deals to acquire Birken and SomPharmaceuticals. [...]

UK jobs market shows strongest signs of improvement in three years

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By: William Turvill

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