Number of private equity takeovers of UK businesses falls 12 per cent September 16, 2019 The number of private equity acquisitions of UK businesses has fallen 12 per cent this year, from 311 in 2017/18 to 274 in 2018/19, according to data from law firm Mayer Brown. The firm’s corporate co-head Perry Yam said private equity fund managers were delaying investments pending the outcome of Brexit. However, the value of [...]
Man Group president Jonathan Sorrell to step down September 11, 2019 Man Group president Jonathan Sorrell has stood down, the world’s largest listed hedge fund has announced. The company said in a statement to the stock exchange on Wednesday morning that Sorrell would be leaving to take up a role outside the FTSE250 firm. Read more: Hedge funds row back on controversial fee structure He will [...]
Ranked: The UK’s fastest growing companies for brand value September 11, 2019 Deliveroo, Costa Coffee and Brewdog are growing in value faster than any other UK brands, according to a survey published today. The food delivery app topped the list, increasing its value 54 per cent to $1.4bn (£1.1bn), while coffee chain Costa jumped 48 per cent to $1.5bn, boosted by its takeover by Coca Cola. Read [...]
Sterling sinks after ‘simply shocking’ UK manufacturing data September 2, 2019 Sterling plummeted against the euro and the dollar in response to weak UK manufacturing data as economists warned “there is no clarity whatsoever” surround Brexit. Markets panicked as figures showed output from the UK manufacturing sector sank to a seven-year low in August, sending the pound down against major currencies. Read more: UK manufacturing output [...]
Sorrell called up to Dutch court case over Mediamonks row August 21, 2019 Sir Martin Sorrell has been called to appear in court as a witness as part of a legal dispute between former shareholders of a company which Sorrell acquired to rebuild his career. A former senior executive and investor in Mediamonks is considering taking out a lawsuit against the Dutch content company’s previous managers, arguing he [...]
Facebook risks hit to advertising revenue as it unveils new privacy feature August 20, 2019 Facebook has unveiled a new feature that gives users greater control over their personal data, in a move that could impact the social media firm’s advertising revenue. The tech giant said it will allow users to prevent information about their browsing activity from being passed on to third parties for advertising. Read more: Twitter and [...]
Premier Foods eyes former Reckitt finance boss as new chair August 15, 2019 The former finance boss of Reckitt Benckiser is said to be in the running to take over as chair of Mr Kipling and Angel Delight owner Premier Foods. Colin Day, who until last year was chief executive of cigarette filter manufacturer Essentra, is one of a small number of candidates for the role, Sky News [...]
Martin Sorrell’s S4 Capital buys influencer agency IMA August 12, 2019 Sir Martin Sorrell’s advertising company S4 Capital has bought IMA, Europe’s largest influencer marketing company, for €10m (£9.3m) and will merge it with its existing content arm, Mediamonks. Amsterdam-based IMA, which was founded in 2010, selects influencers to create tailored online marketing campaigns for brands including Microsoft, Heineken, and Samsonite. Sorrell founded S4 Capital last [...]
WPP share price rise leads FTSE 100 as results beat expectations August 9, 2019 Advertising giant WPP has outperformed market expectations in the first half of the year, as its turnaround strategy helped boost business with key clients like Ebay and L’Oreal. Read more: WPP sells 60 per cent stake in Kantar to value it at $4bn The figures Profit before tax sank 44.1 per cent year on year [...]
Apple shares turn green as services rise July 30, 2019 Apple’s booming revenue in its services division provided a boon to investors tonight, as shares bounced more than four per cent in after-hours trading. The Californian tech giant topped expectations for quarterly profit and revenue for the three months to the end of June, as performance improvement in China helped its results. Read more: Apple [...]