Out of the frying pan, Inter-the fire: Will Interserve’s rescue deal go up in flames? February 10, 2019 Despite taking two months to thrash out a rescue deal, debt-stricken outsourcer Interserve’s future remains precarious. Where does it go from here? For the last eight weeks, suppliers and investors alike have held their breath, as chiefs at troubled outsourcer Interserve thrashed out a rescue deal with the firm’s lenders. The negotiations were a last-ditch [...]
Outsourcer Interserve’s share price falls as debts pile up November 23, 2018 Embattled outsourcing company Interserve will next year aim to quickly sell off assets to reduce its debt, amid concerns raised this month about its financial situation. Shares dropped again this morning by as much as eight per cent as the group said it would dispose of non-core businesses while considering options to “bring new capital [...]
FTSE 100 slides as US market slump sparks downward spiral January 28, 2019 The FTSE 100 followed US stocks on a downward spiral this afternoon closing 0.9 per cent down for the day. US construction giant Caterpillar set the tone with disappointing fourth quarter results as a slowdown in China and trade tensions were cited as reasons for the miss. The Dow Jones lost more than 300 points in [...]
How a Lexus mid-life crisis led to a £3m yacht and a car that outshines Jaguar and Porsche October 30, 2019 A few years ago, at the prestigious Pebble Beach concours in California, the president of the Toyota Motor Company was holding court and pressing flesh. Akio Toyoda, 63, is the grandson of Toyota’s founder and so, you can imagine, he takes enormous pride in its products, and none more so than its luxury off-shoot, Lexus. [...]
Northern Line extension to Battersea Power Station faces 12 month delay in latest TfL setback December 22, 2018 The £1.1bn Northern Line extension to Battersea Power Station has been delayed by at least 12 months in the latest setback for cash-strapped Transport for London. The two mile spur from Kennington was forecast to open in 2020 but will now not be ready until September 2021 at the earliest, pushing up the project's cost. London mayor Sadiq Khan [...]
Debenhams shares slide as Moody’s hands struggling retailer a negative outlook January 17, 2019 Debenhams’ share price slumped seven per cent in morning trading, after ratings agency Moody’s lowered its outlook for the beleaguered retailer from stable to negative. Concerns over the risks that creditors might incur when lending to the embattled department store chain were flagged by Moody’s, pushing shares in Debenhams down 7.26 per cent to 2.8p [...]
Watchdog investigation into KPMG’s Carillion audit at ‘critical stage’ January 22, 2019 The UK’s audit watchdog said its investigation into KPMG’s audit work for collapsed construction giant Carillion is at a “critical stage”. The Financial Reporting Council (FRC) issued an update this morning on its probe into the Big Four firm following “significant public interest” in the case. Carillion’s collapse in January last year has become a [...]
Dignity shares slide after regulator proposes funeral competition probe November 29, 2018 Shares in listed-funeral provider Dignity dropped 15 per cent today following an announcement by the Competition and Markets Authority (CMA) of a potential probe of the sector. The CMA today proposed a “major funerals probe after identifying serious concerns”. Shares in Dignity fell 15 per cent, from 864p to 847p following the news. The CMA [...]
Microsoft goes all-in on holograms in the workplace with the new Hololens 2 February 24, 2019 Microsoft's long-awaited update to its mixed reality headset, the Hololens 2, has placed big bets on businesses including holograms in their day-to-day working life. Revising several major issues to the 2016 Hololens such as comfort and immersion, the biggest change to the Hololens 2 is the price. Coming down 30 per cent from the cost of [...]
Lego bricks and mortar: Merlin Entertainment signs £200m deal to open Legoland Korea by 2022 January 7, 2019 Merlin Entertainment has announced it has entered into a partnership agreement to build a Legoland Park in South Korea. The country’s first Legoland Park will be situated on the island of Hajungdo in Chuncheon, a city within a two-hour drive of nearly 24m people, and expects to create 1,600 jobs. The agreement with Gangwon Provincial [...]