BT says it has not overpaid after beating Sky to UEFA Champions League rights March 6, 2017 BT has won the battle to secure the UK TV rights for European Champions League football for the next three years in a deal that will cost the telecoms giant £1.2bn and dismissed suggestions it has overpaid for them The deal, announced this morning, means BT will continue its coverage of Europe's premier club football competition until the [...]
Which stock market sectors will benefit as inflation heats up? March 6, 2017 We wrote last year about our expectation that inflation would soon start to re-emerge in Europe, and that banks were likely to be among the chief beneficiaries. This scenario has indeed come to pass, perhaps even more quickly than we had anticipated. With signs of inflation becoming ever more apparent, which other sectors should investors [...]
21st Century Fox lodges Sky takeover with European Commission with government “minded” to scrutinise deal March 3, 2017 The government has indicated it will likely scrutinise the takeover of Sky by 21st Century Fox. The US media giant notified the European Commission today, which in turn referred the transaction to Culture, Media and Sport secretary Karen Bradley. While the Bradley has 10 days to decide whether or not she will review the deal, [...]
Actavis UK and Concordia accused of illegal deal to fix the market for hydrocortisone tablets by UK competition watchdog March 3, 2017 The Competition and Markets Authority (CMA) has alleged that Concordia and Actavis UK signed illegal agreements enabling high prices for a life-saving drug to be prolonged. The two pharmaceutical firms have been accused of fixing the market for hydrocortisone tablets. The CMA alleges that between January 2013 and June 2016, Actavis UK incentivised Concordia not [...]
Tesco completes sale of its Kipa business in Turkey March 1, 2017 Tesco has completed the sale of its stake in Turkish supermarket chain Kipa, which it bought in 2003. The sale was first announced in June last year, part of Tesco's efforts to offload its underperforming assets and focus on its core supermarket business. Tesco has also sold restaurant chain Giraffe and its garden centre business [...]
The Financial Conduct Authority launches consultation over plans to reform IPO process March 1, 2017 The Financial Conduct Authority (FCA) has launched a consultation over plans to reform the initial public offering (IPO) process in the UK. The watchdog has voiced concerns that investors don't get enough information before new firms list on the stock market, posing risks. So it has drafted up proposals for investors to get independent research [...]
Battle lines drawn over London Stock Exchange mega-merger as neither company nor EU budges February 27, 2017 The City is holding its breath to see who will blink first in the battle between the European Commission and the London Stock Exchange (LSE), in the case of the latter's £21bn mega-merger with Deutsche Boerse. LSE published a statement late last night saying it now expects the EU to block the deal. The tie-up was [...]
Monitise losses narrow as fintech firm’s transformation plan shows results February 23, 2017 Monitise revealed this morning it had crept further out of the red during the last six months of the year. The figures The fintech firm's interim results revealed a loss before tax of £7.5m for the six months to the end of December, a 96 per cent improvement on the £210.5m loss it announced for [...]
British Gas owner Centrica returns to growth in 2016, but profit in its UK home arm drops February 23, 2017 British Gas owner Centrica today said it swung back to profit growth in 2016, but profit in its UK homes business dropped. The figures Britain's largest energy supplier said group operating profit rose four per cent to £1.52bn in the year to the end of December. However, operating profit for its UK home supplying business fell eight per [...]
Asset managers await City watchdog’s final industry report after closing comments on interim recommendations February 20, 2017 The City watchdog today closed the consultation on its interim asset management market study report and will release its final recommendations in the second quarter of this year. The Financial Conduct Authority (FCA) published its interim report in November, criticising weak price competition, transparency issues, conflicts of interests and sustained profitability of asset management companies. Read [...]