News And Announcements
Green's Arcadia fends off administration as landlords approve rescue plan
Philip Green's Arcadia Group managed to avoid administration after the group's creditors approved a complex restructure plan in a key vote on Wednesday that will see 1,000 job losses and 50 stores shut.
Pendragon shares crash as it warns of full-year loss
Car dealer Pendragon saw its shares tumble on Wednesday after warning that it expects a full-year loss as the market remains "challenging", with new and used car registrations declining.
GSK to update on potential cancer treatment at European congress
GlaxoSmithKline is to present studies on a potential breakthrough cancer treatment at a major conference, the drugs giant confirmed on Wednesday.
Stevenage FC flogging shares to fund promotion bid
Fourth-tier English football club Stevenage FC confirmed on Wednesday that it will give fans and investors the opportunity to buy shares in the club as part of an ambitious plan to chase promotion.
Peel Hunt upgrades Serco, says NSBU acquisition 'very good fit'
Peel Hunt upgraded its stance on Serco shares to 'add' from 'hold' on Wednesday, lifting the price target to 146p from 129p as it highlighted the company's "strategically attractive" acquisition of leading US navy service provider NSBU.
Just Group appoints Andy Parsons as CFO
Retirement products specialist Just Group has appointed Andy Parsons - who has been group finance director at LV= since June 2017 - as its new chief financial officer.
WPP reiterates guidance, says Kantar sale progressing as expected
WPP reiterated its financial guidance for 2019 and for the medium-term and told investors that the sale of a majority stake in its Kantar unit was progressing in line with the company's expectations.
Future of Philip Green's Arcadia in balance as landlords vote on deal
The future of Philip Green’s Arcadia retail empire and 18,000 workers lay in the hands of landlords set to vote on a rescue package for the struggling group.
Reckitt Benckiser chooses outsider as next CEO, taking break-up off the table
Reckitt Benckiser chose an outsider, PepsiCo executive Laxman Narasimhan, to replace Rakesh Kapoor as chief executive officer, a potential signal that a break-up of the company was now off the cards, according to some analysts.
Park Group posts dip in full-year profits, focus on digital investments
Park Group saw a small reduction in full-year sales and profits but sounded an upbeat note on the outlook on the back of the company's heavy investments in technology and new products, which prompted it to raise its dividend payout.
Lidl ramps up London expansion with £500m investment
German discounter Lidl has unveiled a £500m investment plan for London, as it looks to ramp up its foothold in the capital and heap further pressure on larger rivals.
Amigo Holdings slides as largest shareholder considers stake sale
Shares in guarantor loans lender Amigo Holdings slumped on Wednesday after the company's biggest shareholder, Richmond Group, said it was mulling the sale of some of its shares.
Global expansion bolsters profits at Zara owner Inditex
Spain’s Inditex, the world’s largest clothing retailer, has reiterated its focus on global and digital expansion after reporting a jump in first-quarter profits, despite adverse weather tempering sales growth.
Keywords Studios buys Canadian audio description company for CAD3.2m
Keywords Studios has bought Canadian audio description services company Descriptive Video Works for CAD3. 2m.
Dassault Systemes to buy US clinical trial group Medidata
French technology group Dassault Systemes has agreed to buy US clinical trial company Medidata Solutions in a $5. 8bn deal.
De La Rue to sell international identity solutions business for £42m
Banknote printer De La Rue has agreed to sell its international identity solutions business to Assa Abloy-owned verification specialist HID Corporation for £42m.
KKR to buy Axel Springer in €6.8bn deal
US private equity group KKR has agreed to buy out the minority shareholders in German publisher Axel Springer in a deal that values the group at €6. 8bn.
Senior opens 'state-of-the-art' Malaysian aerospace facility
Senior opened its new 180,000 square feet aerospace manufacturing facility at the Malaysia International Aerospace Centre near Kuala Lumpur, Malaysia, on Wednesday.
Boohoo beats on Q1 sales growth, cash piles up
Boohoo posted slightly higher-than-expected sales growth in the first quarter of its financial year and left its full-year guidance for topline growth unchanged, as analysts had anticipated, even as cash continued to pile up on its balance sheet.
BAT sees full year driven by strong vaping sales
British American Tobacco on Wednesday said new product sales would accelerate in the second half as traditional cigarettes become less popular, adding that it was consolidating brands.