Yü Group shares skyrocket on energy supply deal with Smartest December 16, 2019 Yü Group, the supplier of energy and utilities services to UK businesses, saw its share price rise by nearly 50 per cent today after it announced an energy supply arrangement with Smartest Energy. The hedging facility with Smartest will provide Yü with a credit line up to £13m, which will grow in line with the [...]
The best and worst ads of 2019 December 16, 2019 It has been a year of highs and lows for adland. PRs, creative agencies, and brands will be examining their advertising efforts this month, and while some will be pleased with their work, others will be looking to improve next year. To help with this process, I asked members of the marketing industry and other [...]
CMA clears $4.3bn Roche-Spark deal as US drags feet December 16, 2019 Swiss pharmaceuticals giant Roche today won UK regulatory approval for its $4.3bn merger with gene therapy firm Spark Therapeutics. The Competition and Markets Authority (CMA) unconditionally cleared the tie-up in the latest milestone in Roche’s $114.5 per share offer. Read more: Roche faces fresh delay in $4.3bn Spark merger The deal had faced intense scrutiny [...]
Water firms prepare to flood watchdog with complaints after final Ofwat ruling December 15, 2019 Britain’s water companies are getting ready to launch a deluge of complaints against Ofwat, after the regulator publishes its final financial demands for the industry over the next five years. The regulator stunned the industry in July, when it rejected all but three leading suppliers’ business plans for 2020-2025, in a bid to clean up [...]
Watchdog steps up probe into tech giants over digital ad dominance December 15, 2019 The competition watchdog is set to publish its initial findings into the dominance of tech giants in the digital ad market this week, paving the way for a possible in-depth investigation. In July the Competition and Markets Authority (CMA) launched a market study into Google and Facebook, amid concerns the so-called duopoly could be stifling [...]
Thames Water hires advisers on £12bn debt ahead of crucial Ofwat ruling December 14, 2019 Thames Water has hired restructuring experts from Gleacher Shacklock ahead of a crucial ruling from industry watchdog Ofwat. The UK’s biggest water supplier has called in the experts to advice on its £12bn pile of debt amid concern about the impact of a regulatory crackdown on its finances, according to Sky News. Read more: Thames [...]
Watchdog probes Viagogo’s $4bn Stubhub buyout on competition grounds December 13, 2019 Regulators will investigate whether secondary ticketing site Viagogo’s buyout of rival Stubhub will lessen competition in the market, it was announced this morning. The Competition and Markets Authority (CMA) is looking into whether to open a phase one inquiry into the $4bn (£3.1bn) transaction. Read more: Ebay to sell Stubhub to Viagogo for $4bn Stubhub, [...]
Soros hedge fund bets £16m against Daily Mail owner shares December 12, 2019 The hedge fund of billionaire investor George Soros has taken out a £16m short position against media group Daily Mail and General Trust (DMGT), which owns the Daily Mail. The London arm of Soros Fund Management, SFM UK Management, made a bet worth 0.9 per cent of DMGT’s shares, showed filings published by the Financial [...]
Opportunities in an evolving financial industry December 12, 2019 In today’s investment landscape, a paradigm shift is underway. Economic headwinds, ever-changing financial regulations, and the rise of artificial intelligence (AI) and financial technology are transforming the industry. What clients want is evolving, too. Returns alone are not enough. Clients today are looking for asset managers who can meet a comprehensive set of needs and deliver greater value [...]
Second law firm files multi-million foreign exchange class action against raft of banks December 11, 2019 A second law firm today launched a multi-million pound class action claim against a raft of banks which admitted rigging the foreign exchange markets. US litigation firm Hausfeld filed the claim in the Competition Appeal Tribunal (CAT) today against Barclays, Citibank, the Royal Bank of Scotland, JP Morgan, UBS and MUFG Bank over their participation [...]