The Japanese technology and entertainment group Sony to spend $2.3bn to buy controlling stake in EMI Music Publishing, thereby gaining access to over 2m songs ranging from Queen to Pharrell Williams. Kenichiro Yoshida, the new CEO of Sony since April after it halted losses in its consumer electronics divisions to report its highest annual profit.…
Tesco Direct to close 500 jobs at risk of redundancy. A statement blamed high costs and marketing for stunting the website’s progress and confirmed the “non-food website” will close in July 2018. Tesco said it will close the Direct site on 9th July 2018 and the Fenny Lock distribution centre in Milton Keynes in late…
Mothercare, the baby products retailer has confirmed it is closing 50 stores as part of a rescue plan that will put 800 jobs at risk, and the closures will leave only 78 outlets in the UK by 2020. Initially, Mothercare, who hasn’t made a profit since 2012, planned to have 92 outlets by 2023, and…
Paypal buys Izettle for £1.66bn ( $2.2bn) to buy Swedish payments start-up iZettle, just before it was set to become the biggest fintech in Europe to list. The US PayPal giant wanted this deal so badly that they are paying double the amount that iZettle, which is aiming at Europe and Latin America, was targeting…
A Boeing 737 airliner, Cubana de Aviacion crashed and exploded in a field soon after take off near Jose Marti International Airport in Havana, Cuba killing 110 people with only three survival. The airliner had been leased from a Mexican company Damojh, Cuban news agency Presnca Latina said. It was an internal flight from the…
Paddy Power Betfair is in talks to acquire FanDuel a fantasy sports site, in order to capitalise on the lifting of a federal ban on sports betting across the US. The UK and Ireland based FTSE100 gambling group said with New Jersey among those expected to enact legislation within weeks the US gambling market could…
As the oil price rises above $75 per barrel with fuel cost going up by one-third during the quarter, India’s listed aviation companies lost altitude this month as the quarterly profits had slumped 73 per cent at IndiGo, India’s largest private airline. Until recently Indian aviation companies have been some of the fastest-growing in the…
East Coast rail line is back in state control for third time in 12 years, after the termination of the Virgin East Coast francise yesterday following its financial collapse three years after the line was last privatised. The service will be rebranded as London and North Eastern Railway going back to the popular name during…
The US Supreme Court has paved the way for legalised sports gambling across the US after it struck down a Federal law that banned gambling in all American states. This decision could open up US to betting companies who are involved in $150 bn in illegal and offshore betting. Justice Samuel Alito, wrote that a…
According to Sunday Times UK’s super-rich see the combined fortune of the wealthiest 1000 rise to £724bn in “ The 30th Annual Sunday Times Rich List 2018”, Britain transformed into a land of opportunities where the self-made can succeed as 1000 richest people built their own fortunes. When the Rich List was first published in…