Dragon Oil share price falls while Elliott Advisors says Enoc offer undervalues company July 17, 2015 Activist investor Elliott Advisors has become the latest Dragon Oil shareholder to say Emirates National Oil Company's (Enoc) takeover bid "substantially undervalues the company". Enoc, which owns 54 per cent of the Turkmenistan-focused oil producer, offered 750p per share in June. But Dragon Oil's second- and third-largest shareholders, Baillie Gifford and Setanta Asset Management, have said they want [...]
British Airways owner International Airlines Group’s takeover of Aer Lingus given clearance for takeoff July 17, 2015 British Airways owner International Airlines Group (IAG) said today it's been given the go-ahead to buy budget Irish airline Aer Lingus, after the company received acceptances from more than half of shareholders. The news brings IAG, which also owns Iberia and Vueling, a step closer to completing its €1.36bn (£951m) deal to take over [...]
Marks & Spencer’s share price tumbles as head of general merchandise John Dixon quits July 17, 2015 Marks & Spencer's head of general merchandise John Dixon has quit the business after three years in the role, prompting the retailer's share price to tumble in early trading. Dixon "has decided to leave the business to pursue career opportunities outside of the company", the retailer said this morning. He will step down from [...]
Fraud and credit checks bolster Experian’s sales July 16, 2015 Data company Experian yesterday posted a five per cent rise in first-quarter revenue in the UK, with particularly strong growth in its anti-fraud services. “We’re making solid progress in the UK and Ireland, with further revenue momentum in the quarter, and good strategic progress as we secured a number of significant client wins by combining [...]
Ebay revenue up seven per cent as PayPal spinoff draws near July 16, 2015 The figures Revenues at e-commerce giant Ebay jumped seven per cent to $4.38bn (£2.8bn) in the three months to the end of June , according to a report released today. The company’s net income fell to $83m, or seven cents per share in the second quarter, from $676m in 2014. Ebay has announced an additional $1bn [...]
Angry Birds 2: After six years and 2bn downloads, Rovio finally announces Angry Birds will get a sequel July 16, 2015 Get ready for the addiction to strike anew: Angry Birds 2 is coming at last. Six years after the smartphone game that drove us into a bird-throwing frenzy, Finnish game developer Rovio Entertainment has finally announced it will be getting a sequel. The original Angry Birds stormed to the top of the charts when it [...]
Sports Direct share price falls despite revenue rising 4.7 per cent July 16, 2015 The figures Shares in Sports Direct fell 0.48 per cent to 731p per share in early morning trade. The company said group revenue rose 4.7 per cent to £2.83bn in the year to April 2015, from £2.71bn in 2014. It was helped by its "sports retail" and "brands" sectors, which rose 5.5 per cent and [...]
Anglo American share price falls as it books up to $4bn in writedowns in first half July 16, 2015 Shares in miner Anglo American were tarnished this morning after it said it expects to book $3bn-$4bn in writedowns in the first half of this year, due to its iron ore operation in Brazil and some Australian coal assets. The FTSE 100-listed company, due to report its first half results next week, attributed the impairments to [...]
BT share price dips as Ofcom considers spinning-off Openreach July 16, 2015 It's been months in the offing and the cause of various, vociferous complaints – but now communications watchdog Ofcom has finally come out with it: it's considering breaking up BT. In an outline of a review this morning the regulator said separating BT from its Openreach network "could deliver competition or wider benefits for end [...]
Competition and Markets Authority accuses supermarkets of “confusing” promotions July 16, 2015 You could say the UK's competition body has just told supermarkets to BOGOF, after the Competition and Markets Authority (CMA) accused supermarkets of "confusing" people about special offers The after a major three-month investigation, the CMA said with 40 per cent of spending on groceries going on items on offer, shoppers are still being misled [...]
