JJB boss flexes muscles to snap up Fitness First’s UK operations June 27, 2016 JJB Sports founder Dave Whelan is in talks to buy the British operations of gym chain Fitness First. The multi-millionaire business tycoon's DW Sports is set to fork out £70m for a takeover of the business, Sky News reported. Whelan, who also owns Wigan Athletic FC, has been in talks with Fitness First for over a [...]
Texas “frack master” accused of $80m fraud by the SEC June 27, 2016 An alleged shale gas expert who called himself the "frack master" has been accused of orchestrating an $80m (£60.5m) fraud to fund his opulent lifestyle. Chris Faulkner, chief executive of Breitling Energy Corporation (BECC), is said to have used at least $30m of investor funds for personal expenses, including gentleman's clubs and personal escorts, according to the Securities and Exchange [...]
Aston Martin sales rise as it reiterates plans to push ahead with a new plant in Wales June 27, 2016 The sky may be falling for many, but luxury car maker Aston Martin is doing a-ok, it said today: in fact, revenues rose almost nine per cent in 2015. The company, which last year produced a special limited-edition supercar just for James Bond's latest outing, Spectre, said full-year revenues rose to £510.2m in 2015. Meanwhile, adjusted [...]
Daphne Koller on Coursera in refugee camps, and why our education systems won’t help us in the future June 27, 2016 If you've never done a MOOC – a massive open online course – you likely know someone who has. Coursera is the biggest provider in the world. Launched just four years ago, it now has almost 20m learners worldwide, in 140 institutions across 28 countries. In the UK, there are over 600,000 users. Co-founder Daphne Koller was [...]
Accounting watchdog set to announce verdict of probe into KPMG’s HBOS audit June 26, 2016 The accounting watchdog is set to announce the verdict of its probe into KPMG’s audit of collapsed bank HBOS on Monday. The Financial Reporting Council (FRC) met last week to consider the outcome of preliminary enquiries. Read more: FCA confirms it will investigate former HBOS bosses The body said on Thursday that its conduct committee [...]
Curzon Cinemas targets expansion around the world June 26, 2016 Curzon Cinemas, a chain that began in London in 1934 and has since opened 10 more cinemas across the country, is now targeting international growth through its digital offering. Philip Mordecai, director of home cinema at Curzon, is aiming to grow the digital side of the business and sees it eventually competing with the likes [...]
As he says he’ll be gone by October, was Prime Minister David Cameron right to resign? June 26, 2016 Alex Deane, a common councilman who sits on the Corporation of London’s Policy and Resources Committee, says Yes. The Prime Minister was right to resign. Leadership after defeat would have proven exceptionally difficult. The former Cabinet secretary, Lord Butler, was right to say of the PM before the referendum that his position “would be untenable if we [...]
Liberty House still interested in Tata’s UK business despite Brexit June 26, 2016 Liberty House is still interested in snapping up Tata Steel's UK assets despite Brexit, City A.M. understands. It follows reports suggesting several bidders are close to abandoning talks with the Indian conglomerate, after Britons voted to leave the European Union on Thursday. An industry source told City A.M. that they wouldn't be surprised if this was the [...]
Tata Steel bidders could abandon takeover talks over Brexit impact June 25, 2016 Bidders for Tata Steel's embattled British operations are expected to drop plans of pursuing a takeover following Britain voting to leave the EU. US turnaround king Wilbur Ross, who is among the seven bidders eyeing Tata Steel's UK operations, is set to abandon the deal. "Wilbur has been reasonably open that this deal is far less [...]
EU referendum: How newspapers around the world are reacting to Brexit June 25, 2016 Today is the first chance newspapers from around the world had to respond to Thursday's historic vote to Leave the European Union. It's fair to say they've been as split after the result as they were before the vote even took place, ranging from the outright celebratory to fears that the end of the world [...]