Sports Direct owner Mike Ashley confirms £150m equity offer for Debenhams as it considers 5p per share takeover April 8, 2019 Mike Ashley’s Sports Direct officially confirmed an offer to underwrite a £150m share issuance by Debenhams today on the condition that Ashley be made chief executive. The sports store chain said the underwriting of the equity issuance, which would see Sports Direct take on the financial risk involved in selling new equity to current shareholders to raise [...]
If Brexit has taught us anything, it’s that we need to be bold when it comes to world trade April 8, 2019 A little over two years ago, the first direct rail freight service from China to the UK rolled into Barking’s 165-year old station to much fanfare. Of course, the completion of this mammoth 18-day, 7,500-mile trip from the Chinese city of Yiwu marked the moment that the Belt and Road Initiative (BRI) reached the UK. [...]
Baby Spice’s baby startup Kit & Kin breaks record for fastest angel investment April 8, 2019 An eco-friendly baby product business founded by former Spice Girls singer Emma Bunton has broken a record for the fastest fundraising round from angel investors. Kit & Kin achieved its target of £420,000 in just one week through online site Angel Investment Network (AIN), the fastest raise in the platform’s history. Read more: Software retains [...]
Ban oil drilling in Arctic territories, Norway’s Labour opposition urges April 7, 2019 Norway’s largest trade union has said it is disappointed after the country’s Labour Party committed to ending Arctic oil exploration. The opposition party announced it will protect the Lofoten area after being handed a petition of 53,000 signatures from around the world. Read more: Why Norway's sovereign wealth fund is divesting from fossil fuels “For more [...]
Premier Oil management given pay boost as shares bounce back April 7, 2019 The top management team of London-listed explorer Premier Oil combed in a nice windfall last year, pocketing an extra £500,000 between them. Chief executive Tony Durrant made £1.58m in 2018, newly released figures show, a boost of £103,000. Read more: Back in black: Premier Oil returns to profit However, Asia director Robin Allan and finance [...]
Monzo set to overtake Revolut as fresh funding lifts valuation to £2bn April 7, 2019 Digital bank Monzo is set to double its valuation to almost £2bn after securing hefty backing in its latest fundraising round. The bank will reportedly close a £100m funding round, led by a new US investor, that will take its valuation to $2.5bn (£1.9bn) and make it the UK’s second-largest fintech startup. Read more: Oaknorth [...]
Global stock markets rise after positive noises from US economy April 5, 2019 Global stock markets rose today in reaction to better-than-expected March jobs data from the US. The US economy added 196,000 jobs in March, rebounding from an unexpectedly poor performance of just 33,000 new jobs in February. Read more: Employment in US surges after weak February but wage growth slows The US benchmark S&P 500 stock [...]
Funding Circle shares fall as it plans to wind down SME fund April 5, 2019 Funding Circle's shares dived today as it revealed plans to wind down its small and medium enterprises fund and return capital to shareholders. Funding Circle SME Income Fund (FCIF) said that after a consultation with shareholders accounting for over two thirds of the register, it had concluded investors did not want to put more money into [...]
Morgan Stanley selected to steer Uber through $120bn IPO April 5, 2019 Morgan Stanley has reportedly been chosen to ensure Uber has a smooth ride through its initial public offering (IPO) after a string of volatile tech floats have set nerves jangling. The ride-hailing app has named the US investment bank as stabilisation agent for its eagerly-awaited IPO, Bloomberg reported, citing people familiar with the matter. Read [...]
Poll: Sterling set to rise three per cent if Brexit deal looks likely April 5, 2019 Sterling will jump three per cent if it looks likely the government will secure a Brexit deal, but will drop five per cent if talks fail, according to a Reuters poll. The pound plummeted following the 2016 referendum and has been volatile ever since as the market reacts to every development in the Brexit negotiations. [...]
