Direct Line set to join FTSE 100 as Barratt slides down the list September 2, 2014 Insurer Direct Line looks set to join the coveted FTSE 100 listing this week alongside newcomer Dixons Carphone, as the FTSE committee conducts its quarterly review. The changes are likely to be announced later today and could also see homebuilder Barratt demoted out of the top 100 blue chip companies. The developer only joined the [...]
Angry Birds maker Rovio replaces chief executive Mikael Hed amid profit fall August 29, 2014 News flapping its way out of Finland – the maker of hit game Angry Birds Rovio, has replaced chief executive Mikael Hed in a bid to stem falling profits. Pekka Rantala, the game studio’s chief commercial officer who joined in May, will replace Hed at the beginning of 2015 with the pair working together until [...]
AA gets third boss in a year amid ongoing upheaval at motor icon August 28, 2014 FORMER car park boss Bob Mackenzie yesterday became the latest in a string of corporate executives to try their hand at running motoring icon AA. Mackenzie, who will break City convention and combine the role of chairman and chief executive at the group, follows in the footsteps of outgoing boss Chris Jansen, who left yesterday, [...]
Penalty woe as Blades gain Tevez revenge August 26, 2014 OLD foes Sheffield United returned to haunt West Ham after Ecuador striker Enner Valencia’s missed spot-kick sent Nigel Clough’s side through to the Capital One Cup third round at Upton Park last night. There has been bad blood between the two clubs ever since the Carlos Tevez ownership saga of 2007, and Hammers defender Winston Reid [...]
EBay could spin off PayPal August 21, 2014 It could be time for a high-profile breakup in e-commerce: EBay is considering spinning off PayPal, the online payment provider it made famous. The separation could happen as soon as next year, according to news website The Information. It remains unclear whether EBay plans to sell off all or just some of PayPal, and how [...]
Why Quindell’s share price bombed today, even though profits rose threefold August 21, 2014 Over the past few months, insurance outsourcer Quindell – once the darling of the stock market – has been the reluctant protagonist in a soap opera with a plot involving a shadowy organisation run by a mysterious superhero intent waging war on business “bad guys”. Quindell’s woes began in April, when analyst Gotham City [...]
Argentina proposes debt swap, and bond yields fall August 20, 2014 Argentina may have found a way out of its default debacle, but it could be messy and is unlikely to end in repayments for the holdout creditors. Read the background to the saga here. President Cristina de Kirchner, relentless populist to some and hero to others, is proposing a debt swap and the markets have [...]
Clock ticking as Carillion mulls Balfour Beatty options to sweeten £3bn mega-merger deal August 17, 2014 The saga of a potential £3bn mega-merger between construction giants Carillion and Balfour Beatty has entered its endgame, with Carillion considering its options to entice its rival as the clock ticks down on the chances of a deal. Carillion has until this Thursday to make another approach to its reluctant rival, after which it will [...]
Saga dips toe into M&A waters with Destinology deal August 13, 2014 Saga, the over-50s specialist, yesterday made its first acquisition since floating earlier this year, buying a 75 per cent stake in online travel firm Destinology . The deal, believed to be worth £20m, comes in the wake of Saga’s listing on the London stock market in May. The purchase will be funded from existing [...]
King Digital share price crashes as Candy Crush maker is hit by poor quarter results August 12, 2014 Candy Crush maker King Digital entertainment yesterday announced poor second-quarter revenue, sending its share price crashing by 21 per cent in after-hours trading. This was the UK-based, but New York-listed company’s second quarterly report as a public company since its IPO in late March. Revenue in the three months ended in June rose to $593.5m (£353m), [...]