The boss of white goods seller AO World (AO.) is banking on its mobile phone business to boost sales and take on rivals such as Dixons Carphone (DC.) after pulling the plug on its Netherlands operation. John Roberts is hoping for growth at Mobile Phones Direct, which it bought last year for £38m, amid fears over sluggish demand for the fridges, freezers and other expensive products which have long been his company’s mainstay as consumers hold off on spending. Competitor Dixons Carphone has been struggling for years with its mobile phone division in Britain as fewer people renew their devices and demand for mobile contracts falters.
Pressure is mounting on Aviva (AV.) boss Maurice Tulloch as he prepares to face investors for the first time amid a growing clamour for a change of strategy. Mr Tulloch faces fresh calls from disgruntled shareholders for a major shake-up, ahead of a strategy update on Wednesday. A letter from the Investor Forum, a group of 49 major City institutions, demanded that the company presents a credible plan to increase the long-term value of its shares, according to a Sky News report. Mr Tulloch is expected to lift the lid on his plans for the business on Wednesday, in the first major update since he took over in March.
National security pledges by the US private equity firm seeking to buy Cobham (COB) do not go far enough, the defence company’s founding family has warned. American business Advent is on the brink of sealing its takeover of Cobham, after Business Secretary Andrea Leadsom said she is minded to accept binding undertakings designed to protect its valuable technology. But Lady Nadine Cobham, daughter-in-law of the firm’s founder Sir Alan, said that allowing the deal to go ahead would put the safety of the country at risk.
Questor: ambitious growth plans and a healthy balance sheet make Franchise Brands (FRAN) a hold. Questor share tip: the shares are not cheap but there is scope for further acquisitions to supplement the firm’s organic growth
Questor: can Hargreaves Lansdown (HL.) shares recover from the Neil Woodford collapse? Questor share tip: the investment shop was a key backer of the former star manager and the market seems to fear for the effects on its customers’ loyalty
