William Hill bets on Amaya’s online credentials in £5bn merger talks October 9, 2016 William Hill could be the latest arrival to the the betting industry's merger party, after confirming it was in talks with Canadian online gambling group Amaya. The two are hashing out a prospective all-share merger, which would create a £5bn betting giant. Negotiations are at an early stage but it is understood that a deal [...]
Mobile is the invisible infrastructure that can drive the economy in post-Brexit Britain October 6, 2016 This week’s State of Mobile Networks report served as a timely reminder of the importance that people and businesses across the UK place on mobile connectivity, particularly superfast 4G. But it also acts as a wake-up call to the fact Britain could be left behind in the global digital race and miss out on an [...]
First Utility shakes up board as it kicks back IPO plans October 4, 2016 The UK's biggest energy challenger First Utility is reportedly shaking up its board as it delays plans to go public. It comes after a disappointing outcome of a competition investigation into the Big Six energy suppliers. First Utility will announce tomorrow that current chairman, Dr John Roberts, is to step down and be replaced by Thomas Chambers, [...]
Private equity giants eye bid for part of Priory hospitals empire October 2, 2016 Private equity giants, including former Phones4U owner BC Partners, are finalising bids for 19 hospitals being offloaded by US healthcare giant Acadia. The deal could raise as much as £300m for Acadia Healthcare, which bought the Priory hospital for £1.5bn in January. Acadia’s purchase of Priory – best known for treating celebrities including super model [...]
Ovo Energy makes first profit as smart meter push pays off September 30, 2016 Independent energy supplier Ovo made a pre-tax profit for the first time in its seven-year history, helped by improved customer tenure and as "being a first mover with smart meters paid off". The company said today that its pre-tax profit hit £30.4m in the six months to 30 June, up from a loss of £3.6m a year earlier. [...]
Watchdog reveals new plans for taping bankers’ calls as it announces potential tweaks to incoming red tape September 29, 2016 The City watchdog has today revealed proposals to bolster a critical piece of incoming red tape, including extended plans for taping bankers' phone calls. The Financial Conduct Authority (FCA) has published its third consultation paper on the implementation of the revised Markets in Financial Instruments Directive, which is due to come into force in January 2018, and is a [...]
Competition and Markets Authority to investigate price comparison websites September 29, 2016 The UK's competition watchdog is launching a wholesale review into price comparison websites to investigate how they make their money and whether they really do help consumers get the best deals. The Competition and Markets Authority (CMA) announced the review this morning – the latest in a long-line of high-profile probes the body has conducted including [...]
UK Mail delivers substantial returns to shareholders as it agrees terms for £243m takeover by Deutsche Post September 28, 2016 Shares in private postal company UK Mail leapt over 40 per cent this morning after its board announced it had a agreed terms for a takeover by Deutsche Post. The deal values the FTSE-listed company at £243m and the cash offer of 440p a share represented a 43 per cent premium to yesterday's closing price. Read more: [...]
What is the worst policy to come out of the Labour party conference so far? September 26, 2016 Dan Lewis, senior infrastructure policy adviser to the Institute of Directors, says the ban on fracking. Fracking has been transformative for the United States, leading to reshoring of manufacturing, bringing down energy prices, reducing emissions, creating jobs and raising taxes. No serious US politician seeking power wants to reverse that. And in this country, it will [...]
How this challenger bank used the Brexit vote as an opportunity and broke even in less than a year September 21, 2016 New company founders are frequently told to plan to spend their first few years languishing in the red. Now one challenger bank has proved it is possible to buck the trend, and the recent Brexit vote may have given it a nudge in the right direction. OakNorth Bank today revealed it has broken even and inched into profitability, [...]