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Daily Archives: October 5, 2020

Biggest shareholders urged to oust Boohoo bosses

Boohoo’s biggest shareholders have been urged to oust the fashion giant’s billionaire chairman after a report found sweatshop conditions across its Leicester supply chain.  In a letter to Jupiter, Invesco and Baillie Gifford, shadow health minister Liz Kendall said investors must remove Mahmud Kamani and chief executive John Lyttle for …

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US giant Caterpillar snaps up Weir oil arm for £314m

Engineering giant Weir has become the latest British company to catch the eye of overseas suitors.  The FTSE 250 firm is selling its struggling oil and gas division to US machinery titan Caterpillar, famed for its yellow diggers and bulldozers.  The £314m deal is the final step in Weir’s four-year …

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Two of Britain’s biggest crowdfunding platforms merging

Two of Britain’s biggest crowdfunding platforms are set to merge to create a £140m firm.  Crowdcube and Seedrs, which are both loss-making, allow entrepreneurs to raise money from the public by selling shares online.  Merger: Crowdcube and Seedrs allow entrepreneurs to raise money from the public by selling shares online Brewdog …

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Ferrero Group set to snap up Fox’s Biscuits for £250m

Italian chocolate maker Ferrero Group is set to snap up Fox’s Biscuits for £250m.  Ferrero, which owns brands such as Ferrero Rocher and Nutella, is hammering out a deal to buy the British biscuit brand from Wakefield-based 2 Sisters Food Group.  Bid: Ferrero is hammering out a deal to buy …

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MARKET REPORT: Shares in Cineworld plunge

Shares in Cineworld plunged by as much as 60 per cent after the company said it was closing its venues again as a shortage of film releases triggered a collapse in demand.  The world’s second-biggest cinema chain said it was left with no other choice after movies such as the …

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Virgin Media and O2 merger to create 4,000 jobs in UK

A merger between Virgin Media and O2 will create more than 4,000 jobs in the UK if approved, say the parent companies of both firms.  Liberty Global and Telefonica – the owners of Virgin Media and O2 respectively – announced a £31billion mega-merger in May, uniting O2’s 34m customers on …

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Garden centres and nurseries cheer booming sales

Garden centres and nurseries are cheering booming sales as the coronavirus pandemic prompts families to spruce up their homes.  Businesses have reported higher spending on plants, seeds and tools this year, as millions of Britons spent more time in the garden during lockdown.  The craze has boosted both online and …

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Ex-fund manager eyes £1m launch of investment platform

A former fund manager has raised £1m for an investment platform which she hopes will rival the likes of Hargreaves Lansdown.  Felicia Hjertman, who co-managed the Baillie Gifford Japanese Smaller Companies fund until May 2019, plans to launch the business in early 2021.  Launch: Felicia Hjertman, who co-managed the Baillie Gifford …

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