Football’s most lucrative match stagnates in value amid Premier League rights growth slowdown May 22, 2019 The Championship play-off final, which takes place on Monday at Wembley and pits Aston Villa against Derby County for the last remaining spot in next season’s Premier League, is well established as the most lucrative one-off match in the world of club football. Worth an estimated minimum of £170m to the victors – 10 times [...]
Challenger bank TSB unveils raft of leadership appointments as CYBG’s Debbie Crosbie begins her reign May 22, 2019 Challenger bank TSB has further bolstered its leadership team following the arrival of new chief executive Debbie Crosbie. The former CYBG chief operating officer took charge earlier this month, replacing Paul Pester who stepped down last year in the aftermath of a major IT meltdown. Read more: TSB launches fraud guarantee for customers after last [...]
World’s largest cannabis company Canopy Growth snaps up beauty brand This Works for £43m May 22, 2019 Cannabis giant Canopy Growth has bought UK beauty brand This Works for £43m as it looks to roll out CBD-infused skincare and sleep products. Canopy Growth, which is the world’s largest cannabis company by market capitalisation, said it has finalised a sky-high cash transaction to buy the London-headquartered skincare firm. Read more: The green rush? [...]
Exeter’s chief Tony Rowe has overseen the club’s rise to the top of English rugby – now he’s dreaming of a second Premiership title May 22, 2019 When Tony Rowe sat down with Exeter chairman John Baxter in 1993 to discuss a £4,000 sponsorship deal, neither could have envisaged the success that was to follow. Exeter were in English rugby’s fourth tier and struggling, but local businessman Rowe, owner of South West Communications, was sold by Baxter’s passion. So began a 26-year [...]
Spreadbetter IG shares soar as return to growth plan revealed May 22, 2019 Shares in spreadbetting firm IG soared more than 14 per cent today as the company revealed a strategic plan to return to growth despite reporting a fall in revenue and operating profit. Full-year net trading revenue is expected to fall 17 per cent to around £475m and operating profit will fall to £190m from £281m, the company [...]
Specialist lender Paragon reports strong mortgage and commercial lending growth despite housing market slowdown May 22, 2019 Specialist lender Paragon reported a first-half profit boost with soaring commercial and mortgage lending volumes in the face of Brexit uncertainty. The bank reported an underlying profits boost of 8.7 per cent to £79.8m in the six months to the end of March. Read more: Paragon boosts lending in buy-to-let and commercial divisions Lending volumes [...]
City veteran Terry Smith hands over emerging markets trust to new managers May 22, 2019 City veteran Terry Smith is stepping back from his emerging equities trust as he hands over day-to-day responsibilities to a new management team. Smith, the chief executive and chief investment officer of Fundsmith, will continue to provide advice and support to the incoming portfolio manager Michael O’Brien and assistant portfolio manager Sandip Patodia. Read more: Fundsmith [...]
Four key things we learned from Marks & Spencer’s results May 22, 2019 There were not expectations of a strong set of results from Marks & Spencer today. The profit drop was expected and profit before tax of £532m was actually in the higher end of the forecast range. However, a share price decline of four per cent shows that these were still a disappointing set of results for investors. [...]
Metro Bank shares rise after board avoids full-blown shareholder rebellion May 22, 2019 Metro Bank shares have continued to recover this morning rising more than eight per cent after the board avoided a full-blown shareholder rebellion. A number of directors, including chairman Vernon Hill, had been under threat ahead of yesterday’s annual meeting following a major loans blunder earlier this year. Read more: Disgruntled Metro Bank shareholders revolt [...]
Gas grid Cadent pays £44m after leaving customers without supply and losing records May 22, 2019 Gas network company Cadent has today apologised after it was forced to pay £44m for failing customers in nearly 800 London high rises. The firm has agreed to pay a £24m fine to regulator Ofgem, and will set aside £20m to set up a fund to support vulnerable customers. Read more: Ofgem may revoke energy [...]