Business News
Media giant Vivendi raises stake in Lagardere to 13.36%
French media conglomerate Vivendi has increased its stake in Lagardere to 13.36% from 10.6%, an AMF regulatory filing published on Thursday showed.
Month: May 2020
Business News
Norwegian Air secures shareholder funds in fight to stay aloft
Norwegian Air has secured vital funding from shareholders as it battles to survive the novel coronavirus pandemic that drove down April passenger volumes by 98.7%, the budget carrier said on Thursday.
Business News
Nintendo smashes Switch sales view; says Animal Crossing is device’s fastest-selling game
Japan’s Nintendo Co Ltd said on Thursday its fourth-quarter profit soared 200% due to surging demand for its Switch games console, and that title Animal Crossing: New Horizons shifted a record 13.4 million units in its first six weeks.
Business News
Climate activists spray ‘fake oil’ onto Barclays HQ in London’s Canary Wharf
Climate activists from the Extinction Rebellion group sprayed “fake oil” onto the Barclays headquarters in London’s Canary Wharf on Thursday, calling on the bank to divest from fossil fuels.
Business News
Liberty and Telefonica in $38 billion UK tie-up to take on BT
Liberty Global Plc and Telefonica SA have agreed to merge their British businesses in a $38 billion deal including debt that will step up the challenge to market leader BT in mobile and broadband.
Business News
Rolls-Royce signals job cuts as lowers engine output forecast
British aero-engine maker Rolls-Royce signalled on Thursday it expects to cut some of its workforce, after reports that it was considering cutting up to 8,000 jobs to weather a global aerospace sector slump.
Business News
Britain’s Superdry sales plunge 37% as stores shuttered
British fashion retailer Superdry said its revenue plunged 37% in its latest quarter, reflecting the closure of its stores across the world because of the novel coronavirus.
Business News
Nintendo smashes Switch sales forecast as Animal Crossing sales top 13 million
Japan’s Nintendo Co Ltd said on Thursday it sold 21 million Switch units in the year ended March, smashing its forecast of 19.5 million units, with hit title Animal Crossing: New Horizons shifting 13.4 million units in its first six weeks.
Business News
UK parliament tells Barclays CEO: explain emergency business loans delays
The British parliament’s treasury committee chairman has told the chief executive of Barclays to explain delays to granting emergency loans to small businesses.
Trading Ideas
Virgin Media, O2 Combine to Create $38 Billion Heavyweight
(Bloomberg) — Telefonica SA and Liberty Global Plc have agreed to create the U.K.’s largest phone and internet operator, a deal that threatens its rivals and marks another industry-defining merger for billionaire John Malone.The deal values the new company at 31 billion pounds ($38 billion), with Telefonica’s O2 being valued at 12.7 billion pounds and Liberty’s Virgin Media valued at around 18.7 billion pounds. The companies, which started negotiations in December, said in a statement Thursday there are 6.2 billion pounds in synergies.The joint venture, first reported by Bloomberg, is a chance for both parent companies to rework two middling-assets …read more […]
Business News
Britain’s GSK to sell entire stake in Hindustan Unilever
(Reporting by Pushkala Aripaka in Bengaluru; Editing by Anil D’Silva)
Business News
Norwegian Air says share issue oversubscribed
Norwegian Air’s deeply discounted 400 million crowns ($39 million) share issue, part of the company’s financial rescue plan, has now been oversubscribed by investors, the budget carrier said on Thursday.
Business News
British Airways parent IAG says CEO Willie Walsh to stay until September
British Airways-owner IAG said that chief executive Willie Walsh would stay on until September to steer it through the coronavirus crisis, and that it was planning for flights to return to service in July.
Business News
BT pulls dividend until 2021/22 to cope with COVID
Britain’s biggest telecoms group BT has suspended its dividend until 2021/22, one of the biggest on the London stock exchange, and pulled its financial outlook in response to the COVID-19 pandemic.
Business News
Britain’s Next expands beauty business with former Debenhams stores
British clothing retailer Next said on Thursday it will expand its beauty business by taking on five former Debenhams beauty departments and rebranding them as “The Beauty Hall from NEXT”.