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Royal Mail delays results after 3.5 billion pounds bid for takeover
Royal Mail failed to publish their financial results in time due to audit delays. It is preparing for a £3.5bn acquisition by a Czech billionaire.
International Distributions Services, the parent company of IDS, was supposed to release…
Mike Ashley is looking to form a joint venture with Crown Estate
Mike Ashley has learned that he is considering a stake in the Princesshay estate of Exeter. This would be the first joint-venture between the retail mogul, and King's Property Company.
A retail property source revealed that Frasers…
South West Water says it has restored 85% of its service as part of a dividend increase
South West Water's owner has announced that normal service is now available to 85% of their customers, after unsafe drinking led to over 100 cases of waterborne diseases in Devon. It also increased its dividend payout to its shareholders.…
French giant files suit to stop Morrisons from acquiring £2.5bn worth of petrol forecourts
Bouygues, a French conglomerate, is trying to block Morrisons from selling its petrol forecourts to them in a heated dispute over the rights to operate electric vehicle chargers on the sites.
Equans EV Solutions is a subsidiary company…
BYD, a Chinese company, closes on a deal to manufacture all-electric London busses
BYD, the Chinese electric car giant, first entered the British automobile market. It's now taking on the traditional London bus makers.
Sources said that the Go-Ahead Group will award a contract for more than 100 double-deckers powered…
The ‘Czech Sphinx,’ who loves dying industries, is now eyeing Royal Mail
The 4,200-acre Profen mine, located 45 minutes southwest of Leipzig in east Germany, stretches to the horizon. The Nazis opened the mine in 1941, forcing hundreds of residents to move from six villages. The mine produces around eight…
De Beers: Can the diamond giant shine outside of Anglo American
Lupita Nyong’o, Black Panther star, shone under the spotlights when she walked on the Oscars stage two months ago, dazzling in her silver dress and diamond bracelets, earrings and rings. De Beers provided the actress with a total of 41…
Ministers disagree over Harland & Wolff, the Titanic shipbuilder
In a dispute that has cast doubt on the future of Harland & Wolff, the Belfast shipbuilder responsible for the Titanic, the UK government is divided over a financial assistance package.
Whitehall officials say that the Treasury is…
As demand for luxury goods declines, Burberry’s profits fall by 40%
Burberry's profits fell by 40% over the past year due to a general slowdown in luxury goods demand that has affected sales in Asia, and Americas.
In its preliminary results published on Wednesday, the high-end UK retailer of fashion…
UK firms are accused of profiteering after a study found that margins increased 30% following the…
Thousands of UK companies have exploited their corporate power to increase profit margins since the pandemic, redistributing wealth from employees to employers and shareholders, according to the biggest study yet of data since 2019.
A…
JCB supplied equipment to Russia for months after saying that exports had stopped
British digger manufacturer JCB, owned and controlled by billionaire Bamford Family, continued to manufacture and supply equipment for Russia's market even after claiming it had stopped all exports due to Vladimir Putin's invasion Ukraine.…
Grant Thornton to Earn £46mn For Greensill Administration
Grant Thornton expects to earn £46mn from the administration of Greensill Capital. This is one of the costliest insolvency processes undertaken in the UK.
According to a report filed with Companies House last month, the accounting firm…
Hollywood strikes hit ITV revenues
ITV reported a complete drop in sales as the production arm of its company, hit by Hollywood's writers and actors strike, overshadowed its more enticing advertising figures.
The revenue for Britain's largest commercial free-to-air…
John Wood Group rejects £1.4bn takeover bid
An overseas investor is looking to take advantage of the cheap London market valuations by targeting a FTSE 250 engineering consulting firm.
John Wood Group rejected a £1.4billion takeover offer from a smaller competitor, claiming it…
Landsec sells its entire hotel portfolio to US-based group
Land Securities, the largest commercial real estate owner in the country, sold the last of its hotels to an investor from the United States.
Ares Management, based in Los Angeles, paid £400 million to purchase the 21 hotels located…
Alstom pays €1 billion to shareholders
The French-owned company with a Derby site that supplied rolling stock to the Elizabeth Line asked its shareholders to contribute €1 billion in order to get back on track.
Alstom, the company that operates the historic Litchurch Lane…
Shell sells Singapore assets
Shell sold off its remaining chemical assets at Singapore as part of a recent effort to streamline operations and divest less profitable parts.
Glencore, the commodities group and Chandra Asri, an Indonesian chemicals firm, will assume…
Paul Marshall, the hedge fund manager who lost a case over silver from a shipwreck
A company controlled Sir Paul Marshall, a hedge fund manager, lost a court battle with the South African Government over silver bars worth $43mn recovered from an Indian Ocean wreckage dating back to the second world war.
The UK Supreme…