888 Holdings gambles on bingo and b2b arms in second-quarter boost August 5, 2014 Betting firm 888 Holdings saw a 15 per cent bump in its revenues during the second quarter to 30 June, helped by growth across all of its gaming divisions. 888’s bingo and business-to-business arms saw the strongest growth pushing the firm to sales of $111m (£65.8m) during the quarter. “This outcome has been driven by [...]
Koch brothers move into electronics with $7.2bn Molex deal September 9, 2013 PRIVATELY owned Koch Industries said yesterday it will buy Molex, a maker of electronic connectors for companies including Apple, for about $7.2bn to give the billionaire Koch brothers a way to diversify from their traditional holdings in energy, chemicals and paper. Koch Industries, which owns brands such as Brawny paper towels, Dixie Cups and Lycra, [...]
EE deal could see BT heading back to mobile October 10, 2013 BT IS poised to move back into the consumer mobile market after signing a deal to use EE’s network yesterday, 11 years after selling off its BT Cellnet business. Yesterday’s agreement will initially allow BT to provide mobile service to its 250,000 corporate customers using EE’s network, and could allow BT to offer a consumer service [...]
UK TV box firm Pace pays £191m for Aurora in US October 23, 2013 SET-TOP box maker Pace yesterday saw its share price skyrocket more than ten per cent to value the company at over £1bn, after the company announced it would buy US network firm Aurora Networks for $310m (£191.7m). Pace expects the purchase will significantly boost the company’s earnings in 2014, with cost savings from synergies worth [...]
Grapple investors share £40m pot after payment firm swoops September 5, 2013 LONDON-based design agency Grapple Mobile was snapped up by Monitise yesterday, bagging its founders a large share in the £39.4m price tag. Grapple is a design agency which provides smartphone solutions for brands such as Whitbread, Sky & B&Q. Yesterday Monitise bought its entire share capital for £16.5m, with a further payment of up to [...]
Centrica buys US gas supplier for £480m July 30, 2013 ‘BIG SIX’ energy company Centrica today said that it has agreed to buy a US business-to-business gas supplier for $731m (£478m), as it looks to expand its operations in North America. The FTSE 100-listed firm said its North American subsidiary, Direct Energy Business, would acquire the New Jersey-based energy marketing business of Hess Corporation for [...]
Investment firm with Icahn links takes out large News Corp stake September 11, 2013 THE INVESTMENT firm that joined Carl Icahn in his failed bid to block Dell’s buyout bid on Tuesday, took a 12 per cent stake in News Corp yesterday, the largest holding behind founder and chairman Rupert Murdoch. Southeastern Asset Management, based in Memphis, Tennessee, took 23.8m class B shares in News Corp, valued at $397m [...]
What the other papers say this morning – 08 November 2013 November 7, 2013 FINANCIAL TIMES Currencies probe shifts to the US A global probe into alleged manipulation of the multibillion-dollar currencies market has widened its focus to include the US, with Barclays putting three New York-based traders on leave. They included foreign exchange spot traders Russell Katz and Jerry Urwin, two of these people said. Mr Katz and [...]
Centrica expands East Coast ambitions with $731m acquisition July 30, 2013 Leading energy company Centrica has announced its ambition to become the leading B2B gas supplier in the Eastern US after agreeing to acquire the New Jersey-based energy marketing business of Hess Corporation through its North American subsidiary Direct Energy for $731m (£478m). Hess’s energy marketing business operates in 18 states across the east of the [...]
Why I’m backing Maaxi – to launch a new black cab ride-sharing revolution October 1, 2014 GPS-enabled smartphones and apps have transformed urban commutes more than any technological advancement in the last 100 years, as former mayor Ken Livingstone outlines in a remarkable letter (see below), calling for action to ensure the controlled adoption of disruptive technologies in transport. While trains, buses and cars have evolved in speed and comfort, these [...]