CMA energy market investigation report pushed back six months September 21, 2015 Plans by the competition watchdog to remedy the energy market and make it easier for people to switch between providers have been put back by six months. The Competition and Markets (CMA) watchdog will now conclude their investigation by next summer rather than by the end of the year, as had been expected, giving energy [...]
Pan European Wi-Fi air passengers coming after partnership announced by Inmarsat and Deutsche Telekom September 21, 2015 European air passengers will now be able to Skype, shop online and send emails in-flight after Inmarsat and Deutsche Telekom announced they will team up to provide "in-flight high-speed internet access", providing greater connectivity than Wi-Fi currently offered on some flights. Under the partnership, Inmarsat, the FTSE 100-listed satellite communications company, will provide "pan-European" satellite [...]
French Connection share price falls seven per cent after company reports “tough trading period” September 21, 2015 French Connection has reported a “tough trading period” for the first six months of the year, with pre-tax losses widening on the back of a poor performance of the spring 15 collection. Shares in the company fell by seven per cent in early morning trading on the news. The figures The retailer reported loss before [...]
RSA share price plummets 20 per cent as Zurich Insurance says talks are off for possible takeover September 21, 2015 RSA Insurance Group's share price plunged this morning after rival firm Zurich revealed it was walking away from the £5.6bn takeover bid. RSA's share price was down 21.9 per cent in early morning trading as investors digested the shock news. Zurich's share price was also down, albeit a less remarkable 2.3 per cent. Zurich [...]
Activist Edward Bramson’s second Sherborne Investors board bid draws ire of Electra directors September 20, 2015 Directors of profitable private equity firm Electra are growing more frustrated at activist investor Edward Bramson’s attempts to join the company’s board. Bramson’s firm Sherborne Investors, which owns just under 30 per cent of Electra, last week called another general meeting so shareholders could vote on the matter. It follows a failed bid to be [...]
Debenhams coup: Shareholders and City stockbroker Cenkos plot shake-up at retail chain September 20, 2015 Debenhams could be forced to undergo a shake-up of its senior management after coming under pressure from a group of disgruntled investors unhappy with the department store group’s performance. City stockbroker Cenkos is understood to have been asked by Debenhams shareholders that collectively own a stake of around 20 per cent in the company to [...]
Las Iguanas owner to sell £150m bonds September 20, 2015 THE OWNER of restaurant brands Cafe Rouge and Bella Italia, is planning to tap the debt markets as part of a refinancing that would see the group issue around £150m worth of bonds. Casual Dining Group (CDG), which was previously known as Tragus, has undergone a major restructuring since a consortium led by private equity [...]
Insurers look to technology to boost profits by profiling clients September 20, 2015 New technology, which monitors how fast you drive and where you go, as well as your Facebook profile is the future for setting insurance premiums. A survey by Interim Partners, found that, in addition to tracking technology installed in potential customers’ cars, insurance executives said social media profiling, combined with geographic, political and economic data, [...]
Volkswagen told to recall almost 500,000 vehicles over emissions September 18, 2015 Volkswagen has been ordered to recall nearly half a million cars in the US by the Obama administration, which claims the German car group used software that was purposely designed to dodge environmental standards for reducing smog. The US government's Environmental Protection Agency issued the company a notice of violation this afternoon, accusing Volkswagen of [...]
Legal & General staff vote to strike over 1,700 potential job cuts at Kingswood, Surrey headquarters September 18, 2015 Legal & General staff have voted for strike action over the threat of 1,700 job cuts at the group's headquarters in Kingswood, Surrey. In total 68 per cent of L&G's Unite members at the hub took part in the vote, with 63 per cent voting in support of taking industrial action. However action may be [...]