Value of the Flybe Shares were down 16 per cent, after shareholders approved its acquisition by Virgin-led consortium Connect Airways. 63 per cent of the shareholders voted with the board’s recommendation that they approve the sale, with 37 per cent staging a revolt at the general meeting. Flybe has been urging the shareholders to accept…
Digital Advertising spend will enjoy double figure growth as the industry moves away from traditional media formats according to latest forecasts by Barclays Corporate Banking. The digital with out-of-home advertising earmarked as key area of transformation after Digital OOH surpassed traditional outdoor for the first time last year. According to Sean Duffy Head of TMT…
Gary Goldberg CEO of Newmont has hit out at Barrick Gold’s management for its lack of global inexperience as his company rejected the miner’s £14bn ($18bn) offer. The takeover bid came months after Barrick completed its $6bn acquisition of Randgold Resources, installing Randgold’s CEO Mark Bristow as head of combined firm. The bid if successful…
The Geneva International Motor Show, in Switzerland opens this week, at a time when manufacturers increasingly wary of spending cash on big set-piece event, as traditional motor shows seem to be in decline, with electrification the dominant theme. Mercedes and Audi who are in the process of developing whole new electric ranges will both have…
Worries over Brexit and sales slowdown in London’s housing market has hit Estate agent Foxtons by £17.2m loss down from a £6.5m profit in 2017, as revenues dropped 5 per cent to £111.5m since listing six years ago. Nic Budden, CEO said “ 2018 was really challenging year for the sector, as the sales…
Despite a court deferred judgement on Warner Music Group’s attempt to block the streaming service in the market of 1.3bn people, Spotify launched in India yesterday. One of the three big record labels, Warner Music went to High Court of Mumbai to seek an injunction to prevent Spotify from using its music in the country…
Marshall Wace, London Hedge fund scooped a jackpot yesterday when three of the stocks it was short selling and betting against suffered the sharpest falls on the UK stock market. Founders Paul Marshall and Ian Wace are on opposite sides of Brexit, made millions of pounds in profits as shares in retailer Marks and Spencer,…
Ericsson, Juniper and ECI telecom partnerships will allow it to compete with rivals such as Nokia and Huawei. Over the past two year Ericsson has sharpened its workforce to save over $1billion in costs. Cisco has teamed with Samsung while Verizon teams up with Apple and Google on 5G streaming. Although Ericsson formed a…
Borje Ekholm, Ericsson CEO said “ Huawei tensions had caused paralysis among European operators as right now we are at risk of focusing on only one question. All our customers are trying to work out what this means and that is causing uncertainty.” Last week, the GSMA, the mobile industry trade body had issued a…
Debra Perelman (44) has been appointed the first female Chief Executive Officer of Revlon, a company owned by her billionaire father Ronald Perelman. Debra Perelman who has worked at Revlon for the past 20 years was appointed Chief Operating Office in January. “I am honoured and humbled, it’s a good time for the company to…