The unprofitable reality of tobacco stocks December 28, 2017 Chestnuts may be roasting on an open fire – at least on the speakers of every shop we have visited since October – but here our focus is smoke. More precisely we will be considering its continuing disappearance as more and more people quit cigarettes – and what this could mean for tobacco companies and [...]
Billionaire Hollywood bad boy Alki David is resurrecting the dead with holograms | City A.M. November 6, 2017 There’s a rather bonkers Russian chap named Dmitry Itskov who claims that by the year 2045 his team of scientists will have achieved human immortality by uploading brains onto a computer. That’s a little way off, though. In the meantime, if Frankenstein’s monster meeting Blade Runner doesn’t tickle your fancy, one can achieve a rather [...]
Big four UK banks on the mend after racking up £66bn of charges in six years, says S&P Global report June 8, 2017 The UK’s big four banking groups have racked up £66bn of conduct and litigation charges in the last six years, a new report out today has estimated. But analysts at S&P Global Ratings expect 2016 will “prove to be the last year in which charges remain at the outsized levels we have seen recently”. The [...]
Terra Firma’s Guy Hands drops EMI lawsuit against Citigroup June 10, 2016 Guy Hands has backed down in his lawsuit with Citigroup today. Hands, who brought his case to the High Court in London earlier this week, had been suing the bank for £1.5bn worth of damages over his private equity firm Terra Firma's failed takeover of music group EMI. Hands claimed that Citigroup had misled him throughout the bidding process [...]
Gawker said to be exploring sale following Hulk Hogan lawsuit May 26, 2016 US news and gossip website Gawker Media is said to be exploring a sale after losing a court battle with wrestler Hulk Hogan. Gawker has reportedly hired investment bank Houlihan Lokey to explore options after it was ordered to pay out $140m (£95.6m) to Hogan. Read more: Media and entertainment execs want deals – and [...]
Failed EMI lawsuit could land Guy Hands with legal bill for millions June 12, 2016 Guy Hands' dropped lawsuit over Terra Firma's failed takeover of EMI could cost the investor millions. Hands, who was suing Citigroup for £1.5bn over allegations that the bank had misled him during the bidding process for the music company, had taken his case to London's high court last week, but dropped it on Friday. A [...]
Mastercard and Visa see UK legal claims from high street names mount over interchange fees June 25, 2017 MASTERCARD and Visa are facing legal claims that could top £1bn as a raft of high street names pool their resources in a battle with the credit card giants over fees. At the start of this month, litigation claims were launched by 27 high-street retailers, supermarkets, pubs and bookmakers over “multilateral interchange fees”, or charges [...]
Taking the Mickey (Mouse): Walt Disney Co. delists Euro Disney, owner of Disneyland Paris, after several bailouts June 14, 2017 Walt Disney Company, the US media conglomerate, has tied up the take-private of its only European theme park after growing tensions with shareholders. Trading in Euro Disney, the parent of Disneyland Paris, was Frozen (pun intended) yesterday as Walt Disney Co. announced the results of its tender offer and the shares were suspended from the [...]
Curzon Mayfair cinema saved as developers back off | City A.M. April 12, 2017 The Curzon Mayfair cinema has been saved after developers threatening to sink the historic London venue backed off. Developers 38 Curzon Ltd are converting office space about the venue into luxury flats and complained about noise from the cinema. Their complaints were backed by Vevil International, the building’s owner. Read more: Nearly 18,000 people have [...]
Here comes the Son-y/ATV legal action: Paul McCartney steps up bid for Beatles rights January 19, 2017 All you need is love. Unless you’re Sir Paul McCartney, who also wants to get back the rights to some of his most famous songs. Yesterday, the Beatle filed a lawsuit in New York against Sony/ATV to regain the copyrights to songs including Hey Jude and the Long and Winding Road. Read more: Ron Howard [...]