ITV share price skyrockets as Liberty Global pays £481m for stake July 17, 2014 It seems to be the season for media dealmaking; as 21st Century Fox courts Time Warner, Liberty Global has paid out £481m for a minority stake in ITV. The cable company announced on Thursday that it had acquired the stake from BSkyB and now owns a 6.4 per cent share of the UK's biggest commercial [...]
Chelsea are in a race against time to keep up with Manchester United and Arsenal on matchdays October 3, 2014 Having scoured the locality for an appropriate site on which to build a new stadium Chelsea have now apparently decided they must look for a solution within the confines of the existing ground footprint. Whether it’s the right location or optimal site or even cost effective is in some ways irrelevant; the club thinks it’s [...]
The Wedgwood collection is a key piece of our commercial heritage – let’s keep it together September 4, 2014 We have three months to save a vital piece of Britain’s commercial heritage. The Art Fund, an independent charity which helps buy art for the nation, has already raised a heroic £13m. It is now seeking a final £2.74m in donations by 30 November to keep the Wedgwood collection together in its Staffordshire home. Waterford [...]
George Osborne accused of obstructing MPs over Co-op and Lloyds Bank deal August 20, 2014 George Osborne was accused of unreasonably withholding information on ministers’ meetings with Lloyds and Co-op bankers in a series of confrontational letters published yesterday. He was accused of obstructing MPs trying to work out whether the government pressured bank executives into their ill-fated deal. The chancellor claims ongoing probes prevent him from telling the Treasury [...]
Companies race to court to beat time limit on credit crunch cases November 4, 2013 THE NUMBER of big ticket commercial disputes being taken to the High Court in London has jumped by 23 per cent in the last year, as companies race to beat the six-year time limit for launching credit crunch-related claims. Analysis of court claims by City law firm RPC showed there were 1,393 cases launched in [...]
LA Clippers $2bn price tag outstrips the market July 29, 2014 A US judge has tentatively approved the $2bn (£1.2bn) sale of the LA Clippers basketball club, in a case which may force a radical reassessment of the valuations placed on the UK’s leading football clubs. Former Microsoft boss Steve Ballmer is on the verge of buying the NBA club after a California superior court judge [...]
McIlroy begins legal action against agents October 14, 2013 TWO-TIME Major winner Rory McIlroy has begun legal proceedings against his former representatives Horizon Sports Management in the hope of recovering £5.9m in fees. The former world No1 feels he was misled by the Dublin-based firm during their 18-month association and views their fees as excessive. McIlroy also wants to end his association with Gurteen [...]
The conscious uncoupling of King and Coupe May 7, 2014 WHEN Justin King finally steps down as head honcho at Sainsbury’s in July, he might well experience some separation anxiety from commercial director (and soon to be CEO) Mike Coupe. The pair were delivering the supermarket’s preliminary results at their HQ in Holborn yesterday, when they both heard the call of nature at the same [...]
Industrials fund Tamar is being sold to Starwood Capital and M7 June 16, 2014 STARWOOD Capital Group, the US property investment manager, has joined forces with UK-based M7 Real Estate to buy London-listed Tamar European Industrial Fund (TEIF). The deal, which values Tamar at £53.6m or 38.25p a share, will see the two companies co-invest through a property vehicle set up called Lux Starlight. TEIF shares closed up 5.7 [...]
Mapped: Which Phones 4u stores are being shut down? September 23, 2014 PricewaterhouseCoopers has revealed the addresses of the 360-plus Phones 4u stores that are being shut down, and the number of staff being made redundant as the business is wound down. At this stage 1,679 people will lose their jobs, with a further 720 people staying on to help with the wind down. Some [...]