Facebook’s profit rockets despite a jury ruling against its VR firm Oculus February 1, 2017 Facebook's profits shot sky high in 2016, but a jury decided tonight it will pay $500m for its virtual-reality firm Oculus, which came under fire for breaking a non-disclosure agreement. The figures Facebooks profit rose 177 per cent to $10.2bn (£8.1bn) for the year ended 31 December. Revenue for the fourth quarter was up 51 per cent to $8.8bn, [...]
Owners of telephone mast giant Arqiva said to keep options open amid sale reports February 1, 2017 Telephone mast giant Arqiva could still be set for a stock market flotation, according to sources with knowledge of its situation. It emerged last night that Arqiva’s owners, including Australian investment bank Macquarie and the Canadian Pension Plan Investment Board, could be seeking to sell the company. Read more: Cheeky IPO? Nando's is considering a float [...]
Fresh from its dispute with Sky, Discovery channel Eurosport has clinched the Olympics across six countries February 1, 2017 Fresh from securing a last-minute deal with Sky to save its channels yesterday, Discovery today announced an Olympic tie-up with broadcasters across six European countries. Discovery spent last week embroiled in a public spat with Sky over the future of its channels on Sky's UK and German platforms. Read more: Sky & Discovery close in on 11th [...]
Exit the dragon: Moonpig founder Nick Jenkins rubbish tips, accurately exercising dogs and how to make a difference February 1, 2017 "My mental maths has certainly got loads better. They take your phone away so we have to do all the calculations in our heads, on the spot," says Nick Jenkins, the Dragons’ Den dragon, founder of Moonpig and businessman whose personal wealth stands at around £150m. Jenkins, who is leaving the BBC show at the end of [...]
Sky and Discovery reach a deal – but the war of words isn’t over January 31, 2017 Discovery and Sky have reached a last-minute deal in a very public spat which had threatened to see popular channels removed from the satellite TV provider. Discovery had threatened to pull its channels after it was dissatisfied with the price Sky had initially offered. The end-of-month deal ensures that its channels, which also include Eurosport [...]
Deadline day: Sky and Discovery close in on 11th hour deal January 31, 2017 Sky and Discovery are closing in on a last-minute deal to save the likes of Eurosport and Animal Planet from the UK's screens. The two media giants are in the middle of an embarrassing spat over the future of Discovery's channels on the Sky platform. Read more: Still hope? Deadline looms for Sky and Discovery Last Wednesday Discovery [...]
Deadline looms as hope remains Sky and Discovery can hammer out a deal January 29, 2017 Last ditch negotiations between Sky and Discovery will run to the wire this week, with hope remaining that the axing of 12 channels can be averted. Earlier this week, Discovery revealed its UK channels, including Eurosport and Animal Planet, will be binned by Sky at the end of the month after negotiations broke down between the two media giants. [...]
Green must protect BHS pensioners or risk facing MPs again, warns Frank Field January 29, 2017 Pensions of former BHS workers must be protected under any deal struck by billionaire tycoon Sir Philip Green, chair of the Work and Pensions Committee Frank Field has said. Green, who sold BHS for £1 in March 2015 to serial bankrupt Dominic Chappell, is nearing a £350m deal to save pensions of ex-BHS workers, Sky News reported [...]
Celebrities take aim at Sky in bid to keep Discovery channels January 27, 2017 Celebrities including Ronnie O’Sullivan, Jimmy White, Katie Hopkins and Colin Murray have thrown their weight behind Discovery in its battle against Sky. It emerged earlier this week that Sky customers are set to lose 12 channels including Eurosport and Animal Planet after the Discovery Channel revealed details of a spat with the media giant. Read [...]
Behind the deal: These are the bankers and advisers working on the £3.7bn Tesco-Booker tie-up January 27, 2017 Tesco’s £3.7bn deal for wholesaler Booker is an early boost for the UK’s 2017 M&A market, following a rather subdued 2016. Below are details of the bankers and advisers behind the deal. Tesco advisers It’s increasingly difficult to find a big UK deal without a boutique investment bank at its centre. And this £3.7bn merger proved [...]