Lack of suitors leaves Electra on the shelf. Ed Bramson has suffered a setback after failing to find a buyer for the rump of Electra Private Equity (ELTA), the investment trust he first laid siege to five years ago.
American approval for medicine is shot in the arm for Shire takeover. A potential blockbuster medicine developed by Shire Plc (SHP) has been approved in the United States, bolstering a Japanese rival’s reasoning for taking over the London-listed drugs maker.
Ladbrokes Owner GVC chided by Labour’s Tom Watson over past ‘illegal’ bets. The deputy Labour leader Tom Watson has criticised the gambling firm GVC Holdings (GVC) over historic practices used to disguise payments from illegal markets.
Tesco wields poleaxe on 13 stores and 2,200 jobs. A ban on Sunday trading and intense competition have prompted Tesco (TSCO) to close stores in one of its key overseas markets. Britain’s biggest supermarket chain plans to shut 13 loss-making stores in Poland, putting about 2,200 jobs at risk.
Lloyds Banking Group (LLOY) in dilemma over auditing conflict. Lloyds Banking Group (LLOY) may be forced to appoint Deloitte as its auditor because the other big four accountants have conflicts of interest — ramping up pressure on politicians and regulators to tackle the structure of the audit market.
Stars align for Petrofac in $290.0 million Greater Stella sale. Petrofac Ltd. (PFC) is selling its interests in a large area of the North Sea in a deal that could be worth more than $290.0 million. Ithaca Energy is already the operator of the Greater Stella Area and now wants to take full control to boost its production and reserves.
Contract win bolsters armoury at Serco. As outsourcing has become increasingly controversial, and increasingly politicised, in Britain after the collapse of Carillion, Serco Group (SRP) has turned its attention overseas. Yesterday the contractor offered evidence that its switch in focus is paying off.
Bob Diamond faces shareholder revolt at his African banking venture Atlas Mara. Bob Diamond is braced for a showdown with investors at the annual meeting of his Africa-focused bank. Glass Lewis, the shareholder advisory group, has raised concerns about corporate governance at Atlas Mara Limited (DI) (ATMA), which the former Barclays Chief Executive co-founded and chairs.
Online challenger Starling to help Royal Bank of Scotland Group (RBS) with digital bank. Royal Bank of Scotland has enlisted the online-only challenger Starling to assist in its secret project to build a standalone digital bank.
