Paddy Power encouraged gambling addict to keep placing bets and failed to deal with money laundering concerns appropriately – Gambling Commission February 29, 2016 Bookmaker Paddy Power has admitted that it encouraged a customer known to have a gambling problem to continue gambling, and did not take appropriate steps to deal with potential money laundering issues. The Gambling Commission released a statement today detailing Paddy Power's failure to help keep crime out of gambling and to "protect vulnerable people from [...]
Yahoo share price rises three per cent as internet group files 2015 results February 29, 2016 Shares in online firm Yahoo have risen by over three per cent, after the company revealed more details about plans to cut around 15 per cent of its workforce. At the time, chief executive Marissa Mayer said the company was embarking on "a strategic plan that we strongly believe will enable us to accelerate Yahoo's [...]
FTSE 100 index closes flat on last day of the month as supermarkets come into focus February 29, 2016 The FTSE 100 index closed slightly higher on the quiet last day of the month after the G20 disappointed over the weekend. The UK's blue-chip index closed 0.02 per cent higher at 6,097 points. "It was almost as if investors forgot about the leap day and no investments were planned on a quiet last day of the month," said [...]
Twitter files its annual report after a rough year: monthly active users stagnate as head count remains stubbonly high February 29, 2016 Twitter has missed its own targets for a reduction in its head count as it struggles with stagnant user growth and stalling revenue. Despite promising to rein in costs, staff numbers at Twitter rose by approximately 260 full-time employees over the year to hit a whopping 3,898 at the end of December 2015. At the tail end [...]
WH Ireland Group share price up despite wealth management company falling into a loss-making position for its year ended November 2015 after FCA levies £1.2m fine February 29, 2016 Share price in WH Ireland Group rose today despite the company tumbling into a loss after accounting for a regulatory fine. The wealth management company reported a loss before tax of £346,000 for its year ended November 2015, down from a profit of £456,000 the year before, after finding itself subject to a £1.2m fine [...]
Royal Bank of Scotland (RBS) chief executive Ross McEwan, chairman Sir Howard Davies, and chief financial officer Ewen Stevenson bought almost £1m shares in the taxpayer-backed bank February 29, 2016 Royal Bank of Scotland (RBS) revealed today that its top bosses have bought up nearly £1m in shares in the lender, just days after the taxpayer-backed bank reported disappointing results for 2015. News of the bank’s eighth consecutive year of losses sent RBS shares down more than seven per cent at the end of last week. Investors were doubly [...]
Icahn Enterprises share price rises despite widening losses and falling revenues for the full year ended December 2015 February 29, 2016 Share price in Icahn Enterprises rose today despite the company revealing that its revenues had fallen and its losses widen. The conglomerate company announced net losses attributable of $1.2bn (£860m) for the year ended December 2015, down from a loss of $373m the year before. Meanwhile, the company, which has investments across numerous sectors such [...]
Budget hotelier Travelodge puts £1bn sale plans on hold after record year February 29, 2016 Travelodge has confirmed it has shelved plans for a £1bn sale of the business after hailing record earnings of £100m last year. The budget hotelier has been at the centre of heated bid speculation after its co-owners Goldman Sachs, GoldenTree Asset Management and Avenue Capital, brought in bankers from Deutsche Bank to advise them on [...]
African gold miner Amara Mining share price jumps on takeover bid from Perseus Mining February 29, 2016 Shares in Aim-listed Amara Mining jumped today, after the African gold miner received a $85m takeover bid from Perseus Mining. There's long been speculation about consolidation in the African gold space as smaller, cash-strapped firms look to benefit from their bigger competitors' stronger balance sheets. The miner's shares jumped as much as 26.8 per cent to 13p per share this [...]
Bunzl reports growth in profit and revenue as it brings business acquisitions total to 22 February 29, 2016 Outsourcer and distribution group Bunzl today reported profit and revenue growth as its acquisition spree spread further. In 2015, the company’s adjusted operating profit was £366.5m, up from £341.8m in 2014. Its total revenue was £6.5bn, up from £6.2bn. The London-based group also revealed it has spent £327m acquiring 22 businesses, including the today's takeover of [...]
