Intu shares plunge after it cans £1bn emergency cash call March 4, 2020 Shopping centre-owner Intu has cancelled an emergency fundraising after it was unable to persuade enough shareholders to put money into its business. Its shares crashed 38 per cent this morning to 6p following the announcement, before recovering to 9p – down 15 per cent on last night’s close. The company last month said it was [...]
Boohoo co-founders sell off £143m of shares December 5, 2019 Boohoo’s Boohoo’s co-founders have sold a whopping £142.5m of shares in their company, it emerged today, sending the online retailer’s stock down in early trading. Co-founder and executive director Carol Kane sold a third of her stake in the fashion brand – 15m shares – for 285p each to slash her stake to 2.7 per [...]
Flybe’s last flight: How Europe’s biggest regional airline met its demise March 9, 2020 At 8.30pm on Wednesday evening, passengers were still being ushered onto planes bearing the indigo livery of Flybe. Half an hour later, members of the cabin crew on one of its last ever flights, from Manchester to Belfast, were crying, having just lost their jobs. “Staff in tears. This is so grim,” tweeted Holly Hamilton, [...]
Jose Mourinho’s Manchester United future: Why former Chelsea manager could only ever be a short-term fix at Old Trafford August 21, 2018 The twin tenets of Manchester United’s ethos are stated in black and white in their investor prospectus of summer 2014, issued when the Glazer family put shares up for sale on the New York Stock Exchange. Under a section highlighting the qualities that made then-manager Louis van Gaal an attractive hire, it notes that the [...]
Student property developer Crosslane targets London co-living market November 12, 2019 Student property provider Crosslane has moved into the co-living market with a £355m pipeline as it eyes three new developments in London. Crosslane Co-Living has secured sites in Walthamstow, east London and Manchester’s Deansgate to build 366 new rooms over the next two years. The rental model, which is aimed at millennials, sees tenants rent [...]
Arrow underlying profits fall due to rise in costs November 12, 2019 Debt purchasing group Arrow Global saw underlying profits fall 5.4 per cent to £50.4m in the nine months ending in September, due to a 15.1 per cent rise in costs related to IFRS 16. Despite this, the group’s cashflow increased 14.7 per cent to £174.4m, compared to £152m in 2018. Profits before tax increased 65.6 [...]
Football Betting Tips: Celebrate summer with an early payday on Pep’s men August 8, 2019 AS MUCH as we love the British summertime, more often than not it can feel like a long old slog until the Premier League gets underway again. However, it may not have to be too long until a potential pay-out. While Manchester City to win the league at 1/2 may not be the most attractive [...]
Fitness startup Classpass becomes a unicorn with $285m funding round January 8, 2020 Fitness startup Classpass today announced the close of a $285m funding round, pushing its total value past $1bn. The round, which was led by L Catterton and Apax Digital, means that the American company has joined the ranks of the so-called unicorns, startups which have raised more than $1bn in funding. Read more: Puregym expands [...]
Boris Johnson hatches plan to devolve rail power to the north September 8, 2019 Boris Johnson is preparing to hand leaders in the north responsibility for train services as part of a big industry shakeup. Two struggling rail franchises, Northern and the Transpennine Express, are to be devolved to a new body that would be similar to Transport for London in the capital. Read more: Southeastern among franchises placed [...]
Luxury jewellers Boodles reports profits ‘back on track’ November 18, 2019 Luxury jewellery retailer Boodles reported sales growth following a strong Christmas trading period last year and a 220th anniversary collaboration with Swiss watchmaker Patek Philippe. The family-owned jewellers reported turnover of £77.1m for the year ended 28 February, up 8.9 per cent from £70.8m in 2018. Read more: Diamond in a rough year: Petra sell [...]