Franco Manca owner strikes franchise deal to expand burger joint Bukowski November 2, 2015 City restaurateur David Page’s leisure vehicle Fulham Shore has become the latest company to cash in on the “posh burger” craze after striking a deal to expand American-style barbecue joint Bukowski Grill. The Aim-listed company, which snapped up sourdough pizza company Franco Manca earlier this year, said it has entered a franchise agreement with Bukowski’s [...]
Shire Pharmaceuticals agrees to buy Dyax in $5.9bn deal November 2, 2015 Shire has been shopping. The FTSE-listed pharma giant has agreed to buy Dyax, a US biotech company, in a deal worth $5.9bn (£3.81bn). Funding the deal with a $5.6bn loan, Shire expects earnings to be “slightly” hurt by the takeover in the next two years, but come 2018 it’ll all be worth it as the [...]
Visa Inc share price down as it agrees to buy former subsidiary Visa Europe for €21.2bn November 2, 2015 Visa Inc announced this morning it has reached a deal to buy its former subsidiary Visa Europe for as much as €21.2bn (£15bn). The consolidation of Visa Europe's 500 million card accounts, worth more than €1.5 trillion, will create a single global payments company. The upfront payment comprises of €11.5bn in cash and €5bn-worth of preferred stock (which pays fixed dividends, taking [...]
Markit PMI: Sterling climbs as UK manufacturing reaches 16-month high – factory output grows amid growing consumer demand and exports November 2, 2015 The pound jumped against the dollar this morning, after UK manufacturing reached a 16-month high in October, recording its best month since June 2014, according to Markit PMI. The pound rose 0.3 per cent to $1.5479 in mid-morning trading, after the index's seasonally adjusted headline figure rose to 55.5, up from 51.8 in September (which was itself revised [...]
UK house prices: The most popular properties in the UK according to Zoopla November 2, 2015 There's a lot more to the housing market than what's in offer in London, according to research by property website Zoopla. Read more: Land Registry – London house prices hit half million-pound mark Using data compiled from Zoopla's tool which allows users to search by "most popular", the company found a list of the five most popular properties in [...]
Tech entrepreneurs to David Cameron: Welcome skilled immigrants to keep the UK a global tech hub November 2, 2015 Over 230 entrepreneurs have urged Prime Minister David Cameron to welcome more immigrants in an open letter criticising restrictions on skilled migrants. The letter, organised by the Coalition for a Digital Economy and signed by the founders of Citymapper, Swiftkey and Unruly as well as Baroness Martha Lane Fox, founder of Lastminute.com, argued that the [...]
Morning Wire Awards 2015: Celebrating the best of the business world November 2, 2015 It has been a memorable year for the City, with milestones seemingly being met every week. In the last few months alone we’ve reported on some impressive trends and grounds for celebration. Financial services are powering a jobs boom, with employment in the City at an all time high. London’s tech sector has attracted record amounts [...]
Kazakhstan president Nursultan Nazabayev sacks central bank governor Kairat Kelimbetov after tenge plummets November 2, 2015 Kazakhstan has ousted the governor of its central bank after the country's currency, the tenge, lost more than a third of its value in a matter of months. President Nursultan Nazarbayev – who arrives for a two-day visit to the UK today – sacked Kairat Kelimbetov, saying trust in the country's national currency and central bank [...]
Quindell share price falls as shareholders get £415m payout after deal with Slater & Gordon November 2, 2015 Quindell shareholders haven’t had a lot to smile about recently, but today the troubled insurance claims processor announced they would be rewarded with a £415m payout. The company, currently under investigation by the Serious Fraud Office (SFO) for its “aggressive” accounting practices, has had legal claims brought against it by a group believed to be [...]
London property prices: Luxury homes in Greenwich and Blackfriars going up for sale – in Kuwait November 2, 2015 Two new luxury developments in central London are going on sale this week, looking to tempt overseas property investors by holding the official launch at the Warba Tower in Kuwait. An "exclusive collection of homes" are being unveiled to Middle Eastern buyers on 4 and 5 November by developers Barratt Homes London, alongside Knight Frank and [...]