Press | Vox Markets
OCDO
Ocado Group (OCDO) founder Tim Steiner received a bumper pay packet of £58.7m last year, one of the highest ever handouts for a FTSE 100 boss, despite the company revealing a £214m loss on Tuesday.
MKS
Marks & Spencer Group (MKS) has poached a new finance chief from sandwich maker Greencore with a golden hello worth up to £2.5m.
Mark Carney has praised the Government’s plans to ‘level up’ the economy by using low interest rates to borrow money to fund investment in infrastructure and skills, in one of his final public appearances as Governor of the Bank of England.
Digital bank N26 is pulling out of Britain and shutting hundreds of thousands of customers’ bank accounts. The German-based lender blamed Brexit and red tape for its decision to shut up shop, although analysts suggested other factors were also likely to have played a large part.
INTU
Intu Properties (INTU) lost nearly a third of its value on Tuesday after a potential backer refused to take part in an emergency fundraising bid, as one analyst warned that the company was staring into “the abyss”.
NMC
The American private equity firm KKR has ruled itself out of a bid for NMC Health (NMC) only a day after the troubled private hospitals group said that it had been approached.
Google’s human resources chief is stepping down from her position amid mounting tension between management and workers over the company’s handling of sexual harassment allegations.
OCDO
Losses quadrupled at Ocado Group (OCDO) as a result of the fire that destroyed its robotic warehouse in Hampshire last February.
BOE
Europe’s biggest travel group shrugged off mounting costs from the grounding of the Boeing Co (BOE) 737 Max and reported the strongest bookings in its history.
JD.
Regulators are threatening to reverse JD Sports Fashion (JD.)’s £90 million takeover of Footasylum after concluding that the deal “substantially lessens competition” on the high street.
RYA
The executive who came up with the tagline for Ryanair Holdings (RYA) of “always getting better” is leaving the airline.
INTU
Intu Properties (INTU) shares tumble back down as ‘constructive discussions’ with Hong Kong property investor Link on billion pound cash call prove fruitless.
TUI
TUI AG Reg Shs (DI) (TUI) shares surge as travel giant sees record bookings thanks to Thomas Cook’s demise – but there’s no mention of coronavirus impact yet.
JD.
JD Sports Fashion (JD.) may be forced to sell Footasylum as competition watchdog provisionally blocks their merger on fears customers will lose out
OCDO
Ocado Group (OCDO) reveals £214m loss as Andover warehouse fire bill burns through profits just months before it ditches Waitrose for M&S
MKS
Marks & Spencer Group (MKS) names former Goldman Sachs banker Eoin Tonge as its new £600k a year finance chief
UK GDP: British economy stalls amid political uncertainty. Zero growth figure reflects impasse in final three months of last year.
OCDO
Ocado Group (OCDO) CEO gets £54m of £88m bonus scheme payout for bosses. Tim Steiner’s 2019 pay packet, including bonuses and salary, was £58.7m.
INTU
Blow for Lakeside owner Intu Properties (INTU) as investor shuns £1bn cash call. Hong Kong-based Link pulls out of refinancing plan a day after talks were confirmed.
TUI
TUI AG Reg Shs (DI) (TUI)enjoys record bookings after Thomas Cook collapse. Tour operator says it expects compensation from Boeing due to grounding of 737 Max.
JD.
JD Sports Fashion (JD.) may have to sell Footasylum, says competition watchdog. CMA inquiry provisionally finds shoppers could lose out in merger but sportswear retailer brands findings flawed.
US judge clears T-Mobile’s $59bn Sprint takeover. Argument that T-Mobile would act anti-competitively after the merger was not persuasive.
INTU
Why Link is just not into Intu Properties (INTU). Hong Kong investor shuns property group; Ocado’s pricey robots are left with much to prove.
NMC
KKR rules out bid for hospital operator NMC Health (NMC). Healthcare provider told investors it had received a preliminary approach from the US group.
NMC
FTSE dream in tatters for NMC Health (NMC) founder BR Shetty. Businessman who built up the healthcare group faces a battle to clean up governance.
PMO
Premier Oil (PMO)’s battle with hedge fund set for vote showdown. ARCM with a giant short position opposes FTSE 250 group’s refinancing plan.
Daimler suffers the worst results in a decade as profits dive. German carmaker’s earnings plunge 60% in 2019 amid ‘Dieselgate’ woes.
Heineken chief executive to step down after 15 years. Jean-François van Boxmeer doubled the size of Dutch brewer during his tenure.
OCDO
Ocado Group (OCDO) posts £214m loss as it ramps up spending on logistics. Stellar share price performance triggers £87m payout for senior directors.
HSBA
Staff morale has plunged at HSBC Holdings (HSBA) after its boss was ousted and staff prepare for a wave of job cuts, according to an internal survey.
Google’s former chief financial officer, Patrick Pichette, has abruptly quit as chairman of Oxford university’s spinout fund, Oxford Sciences Innovation.
The billionaire owner of Volvo is considering a mega-merger of the Swedish marque, Geely Automotive, with his Hong Kong-listed car manufacturer.
Struggling John Lewis will sell foundation, concealer and bronzer for men online and one of its flagship London stores as it tries to boost its coffers.
Top businesswoman Dame Jayne-Anne Gadhia has joined a crack team seeking to overhaul Lloyd’s of London as the insurance market reels from a sexism scandal.
Geely and Volvo Cars plan merger and listing. Chairman Li Shufu seeks to create China’s first global carmaker.
Xerox raises its takeover offer for HP. Proposed deal values the personal computer maker at about $35bn including debt.
NMC
The UK watchdog probes the mystery of top NMC Health (NMC) investors. FCA and group seek to clarify positions of BR Shetty and other leading shareholders.
Former Google CFO quits as chair of Oxford university spin-off arm. Patrick Pichette follows chief executive out of £600m investment business.
BDO sued for up to £250m over the London tower sale. Liquidators say the firm that sold the original One Blackfriars building failed to obtain valuation for the site.
Deutsche Bank to sell first contingent convertible in 6 years. Major step for Germany’s largest lender after years of tackling crises.
Simon Property to buy rival mall owner Taubman in a $3.6bn deal. Transaction comes as the shopping centre group also closes in on Forever 21 deal.
NMC
The crisis engulfing NMC Health (NMC) has deepened with the revelation that the interests of its founder and associates may have been misreported to the stock market.
The Bank of England has been accused of double standards over a £300 million investment in fossil fuel companies as Mark Carney, the outgoing governor, pushes a low-carbon agenda.
A full ban on Huawei supplying the 5G network in Britain could cost the country’s leading mobile phone operators an estimated £1.5 billion and delay the expansion of the faster and more versatile network by up to two years.
CSRT
Shareholders in Consort Medical (CSRT) are angry that bosses received £3.5 million in share bonuses after a “low ball” £505 million takeover by a Swedish rival.
CNA
Centrica (CNA), the owner of British Gas, is expected to report a drop in profits after being hit by the government’s price cap on energy bills and lower wholesale gas prices.
Apple shares have fallen 0.5 per cent to $318 amid concerns the coronavirus will hit sales of iPhones in China in the first quarter.
Samsung has showed off its new flip phone with a foldable screen in an advert two days before the device is due to be officially announced.
Urban Logistics REIT Plc (SHED) plans to cash in on increasing demand for warehouses that can serve cities, as shopping habits continue to shift online.
BOOM
Shares in AIM-listed Audioboom Group (BOOM) jumped after the podcast platform confirmed it launched a strategic review that could see the company being sold to a rival.
SXX
Sirius Minerals (SXX) bosses have held crunch talks with small shareholders as they desperately seek backing for a controversial £405m takeover of the company.
Michael Gove has told businesses that trade with Europe they need to prepare for “significant change” with “inevitable” border checks for “almost everybody” who imports from the EU from next year.
Lloyd’s of London has appointed the former Virgin Money chief executive Jayne-Anne Gadhia to help oversee a cultural overhaul at the insurance market after it was rocked by bullying and harassment allegations last year.
INTU
Shares in Intu Properties (INTU) jumped on Monday after the company behind shopping centres including the Trafford Centre in Manchester and Lakeside in Essex confirmed it is in talks with investors over an emergency cash call.
Waitrose is to launch thousands of new and revamped products in the coming months as the battle for the hearts and minds of Ocado shoppers moves up a gear.
BP.
Staff working at the British Museum in London have joined calls for its management to ditch its sponsorship deal with the oil company BP (BP.) after a weekend of protests.