Pearson takes over language schools in Brazil December 3, 2013 PEARSON added to its education arm yesterday by unveiling plans to spend £440m on an English language training company in Brazil. The FTSE 100 firm, which owns the Financial Times, said its purchase of Grupo Multi is part of its goal to expand in fast-growing economies. The company will pay £440m in cash and assume [...]
Northgate plots more branches December 3, 2013 VAN HIRE firm Northgate is looking to open more branches in Britain next year after splashing out on new vehicles. Northgate said it has added 2,800 vehicles to its fleet in the last six months and launched two new outlets, with three more due by April. The FTSE 250 firm’s Spanish business, which has suffered [...]
Marston’s sells off 200 pubs to New River Retail as profits grow November 28, 2013 PUB AND and brewing company Marston’s said yesterday it will sell 202 pubs to property group New River Retail for £90m as part of efforts to reduce debt and help pay for its new pub-restaurants. Marston’s, which has 2,100 pubs in the UK, said it was trying to shift from pubs focused on drinking to pubs [...]
Thomas Cook’s cost cuts deliver return to profit November 28, 2013 THOMAS Cook shares leapt 14.7 per cent yesterday after the travel group said the first full year of Harriet Green’s turnaround plan had produced more cost savings than expected. The firm also beat forecasts with a 49 per cent rise in underlying earnings to £263m, while revenues rose 1.3 per cent to £9.3bn. On a [...]
United Utilities uses tax rebate to trim bill hike November 27, 2013 FTSE 100-listed water company United Utilities yesterday said it plans to use a tax settlement to keep price increases in line with inflation next year, as it unveiled increased half-year revenues and earnings. A revised agreement with HM Revenue and Customs has triggered a tax windfall for water companies. Severn Trent yesterday said it is [...]
Thomas Cook sells Neilson to Luke Johnson November 25, 2013 LUKE Johnson, the serial restaurant entrepreneur best known for putting Pizza Express on the map, yesterday struck a deal to buy specialist sports travel group Neilson from Thomas Cook for £9.15m. The deal is Johnson’s second in the travel sector this year after his investment vehicle Risk Capital bought a majority stake in online holiday [...]
National Grid says power row hurts spending November 21, 2013 NATIONAL Grid has trimmed its investment plan for next year and warned that political wrangling over energy policy is stopping power companies from starting new projects. The FTSE 100 firm, which distributes gas and electricity across England and Wales, expects to spend £3.5bn on upgrades next year, down from the £3.6bn to £3.9bn it had [...]
Paypoint picks up more delivery work while mobile top-ups drop November 21, 2013 PAYMENT system Paypoint posted a rise in half-year revenues and profits yesterday as its parcel delivery venture Collect+ became profitable. Paypoint said revenues rose 0.4 per cent to £102.2m while pre-tax profits jumped 16.6 per cent to £21.3m. However, the firm said some of the gains in the first half were caused by moving some [...]
Cineworld boss and founder to quit next year November 20, 2013 CINEWORLD chief executive Steve Wiener, who founded the business 18 years ago, will leave the UK’s largest cinema chain at the end of March 2014, the company announced yesterday. Wiener, who has worked in the cinema industry for 44 years, left his job as managing director of Warner Bros Europe in 1995 to set up [...]
IG Group says revenues slightly ahead so far in second quarter November 19, 2013 FINANCIAL spread betting firm IG Group said yesterday its revenue was slightly ahead of a year ago so far in the second quarter. The company, which allows investors to speculate on the future price of securities or baskets of securities, said in a trading update that the business had traded satisfactorily through the period, but [...]