Monday, 11 December 2017

Business

Blackstone, CVC to Buy Paysafe for $3.9 billion

Blackstone

LONDON: Online-payments company Paysafe Group PLC said Friday it has reached an agreement to be acquired for GBP2.96 billion ($3.89 billion) by private-equity groups Blackstone Group LP and CVC Capital Partners, the latest big deal in the fast-growing sector. Blackstone and CVC will pay 590 pence a share for Paysafe, ...

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Motorways Could be Roofed Over to Curb Pollution

highways-england

LONDON: Large tunnel-like structures could become common place on British highways as part of some radical new solutions to cut pollution and improve air quality. Government agency Highways England is reportedly researching the costs of the scheme and claims tunnel-like structures could be the key to soaking up car fumes and reduce emissions currently ...

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Next returns to quarterly sales growth

next-shop

LONDON: British clothing retailer Next on Thursday reported a return to quarterly sales growth, helped by an improvement in product ranges, a better online offer and a spell of warm weather. Next, which reduced profit guidance in January and May, said full price sales rose 0.7 percent in the second ...

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Aviva signs 10-year distribution deal with HSBC

Aviva

LONDON: Aviva has entered into a 10-year distribution deal with HSBC in what the insurer says is one of the largest transactions of its kind signed in the UK. Mark Wilson, the insurer’s chief executive, said the agreement would generate hundreds of millions of pounds of premiums for Aviva, and ...

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French parliament approves Macron’s labour reforms

Emmanuel Macron

PARIS: France’s parliament on Wednesday adopted a bill allowing the government to fast-track changes to the labour code, the first major reform of Emmanuel Macron’s presidency which aims to slash unemployment. After weeks of at times heated debate between lawmakers, the Senate approved a bill allowing the government to loosen ...

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Apple shares up as iPhone8 appears on track

apple1

LONDON: Apple appears to have soothed investor concerns over the release of its 10th anniversary iPhone range while reporting a leap in smartphone sales. The world’s most-valuable listed company’s third quarter results showed it sold just over 41 million of the smartphones worldwide – bucking the usual trend of a ...

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AA chief executive sacked for gross misconduct

Bob Mackenzie

LONDON: The AA has sacked its executive chairman Bob Mackenzie for “gross misconduct”. The news, which has resulted with him stepping down from the AA’s board and as a director with immediate effect, has been greeted with shock and surprise. Shares in the AA plunged by 12.8% by the end ...

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BP and Rolls-Royce top FTSE after swinging into profit

BP

LONDON: BP and Rolls-Royce have driven the FTSE 100 higher after the oil giant and aircraft engine maker delivered better-than-expected results. Shares in Rolls-Royce jumped 9.6% to 973p after it reported profits of £1.9 billion in the six months to the end of June, reversing the £2.2 billion loss made ...

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Bank of England staff to hold first strike in 50 years

Bank of England

LONDON: Trade union members at the Bank of England, Britain’s Central Bank, will go ahead with the first strike action by staff for over 50 years on Tuesday, the Unite union said on Monday. Last-minute talks facilitated by a government-run arbitrator failed to resolve the pay dispute with the bank, ...

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