Company News
Boohoo u-turns on exec bonuses after investor outrage
Fast fashion retailer Boohoo has backtracked on a plan to seek investor approval to hand £1m each in bonuses to co-founders Mahmud Kamani and Carol Kane along with chief executive John Lyttle.
Ithaca appoints ENI's Luciano Vasques CEO as Q1 profits fall
North Sea oil and gas explorer Ithaca Energy on Tuesday said it had appointed ENI executive Luciano Vasques as chief executive officer following its £750m deal to buy almost all of the Italian firm’s UK assets and reported a fall in first-quarter profits on weaker gas prices and lower production.
Wednesday preview: Fedspeak, Beige Book in focus
Investors' focus in the middle of the week will continue to be on the scheduled remarks of top Fed officials as investors continue to wait on the week's key release, the PCE price index on Friday.
Ofwat set to refuse water companies’ price increases; shares hit
UK water companies were under pressure on Tuesday following a report that Ofwat was set to refuse most companies’ requests to hike consumer bills, with some getting as little as half of what they have asked for.
McLaren appoints three industry vets to board
F1, motorsports and supercar maker McLaren Group has appointed three new boardmembers in recent weeks, just two months after the sovereign wealth fund of Bahrain took full ownership of the manufacturer.
Calliditas Therapeutics surges on SEK11.8bn takeover offer from Asahi Kasei
Calliditas Therapeutics surged on Tuesday after Japan’s Asahi Kasei offered to buy the Swedish drugs firm for around 11. 8bn Swedish kronor.
T-Mobile to buy nearly all of US Cellular in $4.4bn deal
T-Mobile said on Tuesday that it has agreed to buy nearly all of US Cellular’s wireless operations in a $4. 4bn deal.
Flutter Entertainment hit as Illinois Senate approves sports betting tax
DraftKings and FanDuel owner Flutter Entertainment slid on Thursday after the Illinois Senate passed a bill that would make Illinois the second most expensive state for wagers to do business in.
UK retail sales surge in May - CBI
UK retail sales jumped in May, a closely-watched survey showed on Tuesday, as selling price inflation continued to fall back.
Waystar looks to raise $1bn in Nasdaq IPO
Healthcare payments software group Waystar announced on Tuesday that it is seeking to raise around $1bn in its stock-market debut this summer.
ABN Amro snaps up German private bank in €672m deal
ABN Amro is to acquire German private bank Hauck Aufhauser Lampe in a €672m deal, it was confirmed on Tuesday.
Boohoo facing 'sizeable' revolt over executive bonuses - report
Boohoo is reportedly facing a potential investor revolt over plans to pay out millions in executive bonuses at its June annual general meeting.
NatWest banking app hit by IT glitch
NatWest customers were unable to use the online banking app on Tuesday due to an IT glitch, with thousands unable to access balance and payment services.
Persimmon eyes up possible £1bn Cala bid - report
Persimmon saw its share price dip on Tuesday, after it was flagged as a potential buyer of rival housebuilder Cala.
Revolution Bars rejects Nightcap takeover proposal
Revolution Bars said on Tuesday that it has rejected a rescue deal by Nightcap as it is "incapable of being delivered" and that it will press ahead with a £12. 5m fundraising.
Victorian Plumbing upbeat for full year despite 'subdued' market
Victorian Plumbing reported a dip in first-half revenues on Tuesday, on the back of a "subdued" trading environment.
Adriatic Metals to raise $50m as Vares project ramps up
Precious and base metals group Adriatic Metals has announced plans to raise $50m through a share placing as it "optimises" its balance sheet amid a ramp-up of its Vares project in Bosnia and Herzegovina.
Genuit on track despite Q1 'softness'
Water, climate and ventilation solutions group Genuit has said its full-year outlook remains unchanged despite "market softness" since the start of 2024 as it continues to make improvements to underlying margins.
AstraZeneca experimental lung cancer drug shows promising results
AstraZeneca’s experimental lung cancer drug showed improved overall survival rates in phase III trials, the pharmaceutical giant said on Tuesday.
Intermediate Capital sees annual profits jump 132%
Investment firm Intermediate Capital Group (ICG) more than doubled profits in the year ended 31 March as it reported a huge increase in performance fee income, while assets under management rose by nearly a quarter.