Chancellor Rachel Reeves delivered Labour’s first Budget in 14 years, announcing £40bn of tax rises, Central London Alliance comments
London tech stars to share £1.4bn from King.com float March 12, 2014 KING Digital Entertainment, the British firm behind hit mobile game Candy Crush Saga, expects to reach a $7.6bn (£4.5bn) valuation when it lists on the New York Stock Exchange this month, making its senior staff overnight multimillionaires. The company’s 22.2m shares are set to be priced between $21 and $24, according to an updated filing [...]
What you need to know before the US open March 12, 2014 With little in the way of economic data today, investors will likely be looking towards China and the worries over copper. The metal’s hit a 2010 low, with gold hitting a five-and-a-half-month high. The news fuels concerns over China’s continuing economic slowdown, with European markets falling for a fourth day, and US stock futures suggest [...]
Android gaming revenue growth far outpaced Apple during 2013 February 26, 2014 ANDROID gaming revenues grew 400 per cent during 2013 as games like King’s Candy Crush Saga and Gungho’s Puzzle & Dragons pushed spending on mobile games to a record high. Gaming on Apple’s iPhones and iPads saw only a doubling of revenues during the same period, according to a report from IDC and App Annie [...]
Russia must back down over Ukraine to avoid a catastrophe February 24, 2014 VLADIMIR Ilyich Lenin was a monster. He was a central theorist of communism, a key player in the Bolshevik revolution, a commissar, a leading instigator of the Red Terror and other massacres, and the first leader of the Soviet Union. For decades, busts of Lenin adorned the communist empire; they were finally torn down in [...]
Just-Eat dials up bid to debut on growth market February 23, 2014 FAST food site Just-Eat is sharpening plans to list on the new high-growth segment (HGS) of London’s main stock market, making it the first company to join the fledgling platform if it pulls the trigger on the plans. The company’s backers are understood to be examining a proposal to offload just 10 per cent of [...]
Sandwich seller plans for £2bn summer float February 23, 2014 UPPER Crust owner SSP is gearing up for a summertime stock market float after appointing bankers from Goldman Sachs and Morgan Stanley to prepare the firm for a listing. The business, led by former WH Smith chief executive Kate Swann, is understood to be on course for an initial public offering (IPO) to sell shares [...]
DEAL FRENZY: Pets At Home lines up to follow King, Poundland and ISS to market February 18, 2014 STOCK markets roared back into life yesterday after discount retailer Poundland, Candy Crush Saga producer King Digital Entertainment, and services firm ISS fired the starting gun on flotation plans, with UK pet store Pets at Home expected to follow suit as soon as today. UK retailer Poundland revealed plans to list in London in March, [...]
King float raises fears that Candy Crush has peaked February 18, 2014 KING’S filing for its public offering yesterday revealed that Candy Crush Saga, the game that accounts for 78 per cent of King’s revenue, could be in decline. Candy Crush was 2013’s top grossing mobile app, but King’s gross bookings fell 2.5 per cent in the fourth quarter to $632m (£378m), led by a drop in [...]
Retail investors to be courted in biggest Nordic flotation in years February 18, 2014 ISS, the Danish outsourcing group, intends to attract retail investors to its stock market flotation in Copenhagen, the biggest Nordic flotation in 14 years. “There’s potential to have strong demand,” chief executive Jeff Gravenhorst said yesterday. “The percentage that goes to the retail investor will depend on their appetite.” ISS, which is part-owned by Sweden’s [...]
What the other papers say this morning – 17 February 2014 February 17, 2014 FINANCIAL TIMES Merkel backs EU internet services Momentum for a radical response to the National Security Agency spy scandal is building after Germany’s chancellor backed calls for European internet services that are walled off from the US. Angela Merkel said she would press François Hollande, the French president, to back a push for EU-based alternatives [...]