In the papers: Bayer, Ocado, YouTube
Date
9/19/2016 7:54:56 AM
(MENAFN- ProactiveInvestors - UK) Proactive Investors, 08:42
The Times
Bayer bets the farm in $66 billion Monsanto deal: An American pioneer of genetically modified seeds has struck a $66 billion takeover deal with Bayer, the German chemicals giant, in the latest round of megadeal consolidations in agricultural production.
Lawyers set to pass M & A paperwork to machines: Luminance, a start-up backed by Mike Lynch, the British technology investor, is aiming to reduce the time taken on due diligence that accompanies multimillion-pound M & A deals from weeks to days or even hours using a new form of artificial intelligence.
Public sector job numbers plunge to record low: Employment in the public sector has fallen to a record low as private sector jobs surge ahead despite Brexit, official figures have shown.
Mortgage lending falls in wake of Brexit vote: The number of mortgages advanced for house purchases fell in the first month after Britain's decision to leave the European Union.
Miner in 'bribery scandal' intends to quit AIM: An Africa-focused mining company that has been caught up in a bribery scandal is planning to delist its shares.
Brighter hope for students seeking a place to stay: A developer and Manager of upmarket student flats plans to target more affordable options for second and third-year university students.
Summer blues do not last for lettings agent: One of the largest lettings and estate agency groups in Britain said that activity in London and the southeast of England had been 'mildly depressed' since the Brexit vote but was starting to recover.
Ex-Barclays currency trader sues bank for unfair dismissal: A former foreign exchange trader who was suspended amid accusations of currency manipulation is suing Barclays for unfair dismissal.
American firm has taste for Mazola buyout: An American snack foods company is in talks to buy the maker of Mazola cooking oil from the conglomerate that owns Primark.
Confidence is a luxury some cannot afford: The world of luxury retail lost some of its lustre when Richemont issued a steep profit warning and Hermès abandoned a key sales growth target.
Ocado feeds the bears as broker issues downgrade: It was a bears' picnic at Ocado as hedge funds licked their lips at the collapse in the grocer's share price. The upmarket online supermarket remains one of the top three most heavily shorted companies on the London stock exchange and its shares were the biggest fallers on the FTSE 250 for the second consecutive day.
The Independent
Freedom of movement 'vital' to U.K. construction post Brexit, industry experts warn Government: A coalition of professional bodies has warned the Government of a construction crisis if access to skilled workers cannot be secured following U.K.'s vote to leave the EU.
YouTube forced to pay musicians more money under proposed EU copyright laws: Artists and record companies could be allowed to demand more money from websites such as YouTube, under new plans to reform European copyright laws published on Wednesday.
Former BHS Boss Darren Topp to lead fashion chain LK Bennett: Darren Topp, the former Boss of collapsed retailer BHS, has been appointed as Chief Executive of fashion chain LK Bennett.
Brexit: Leaving the EU single market will 'liberate' the U.K. economy, says Sir James Dyson: Sir James Dyson, the billionaire entrepreneur and Founder of the Dyson company, has said businesses should stay confident in the wake of the EU referendum, as the vote to leave the EU will liberate the country's economy.
The Daily Telegraph
MPs to debate stripping Sir Philip Green of his knighthood: MPs are refusing to loosen their grip on Sir Philip Green and will discuss next month whether the retail tycoon should be stripped of his knighthood following the collapse of BHS.
Power price surges to record high on supply shortage fears: U.K. electricity prices for Thursday have soared to record highs after unplanned nuclear plant shutdowns and the continued heatwave triggered an unseasonal power crunch.
British workers jealous and resentful of bonuses: British workers are among the most jealous in the world, with one-third believing colleagues who receive bonuses do not deserve the additional payouts.
Investment banks need another radical overhaul if they want to make money, says McKinsey: Investment banks have failed to find a way to become sustainably profitable in the eight years since the financial crisis and need another radical overhaul, according to consultancy McKinsey.
Dunelm toasts a decade of profit rises despite sweating the Indian summer: Dunelm, the home furnishing retailer, has delivered a 6.2% surge in pretax profits in the first year under John Browett's leadership.
North Sea oil production creeps up from record lows: The U.K.'s North Sea is showing its first signs of a tentative recovery from the global oil market crash with production levels rising by a fifth from last year's record lows.
Ardian raises £3.8 billion in four months as private equity backers swing to European companies: Ardian, the London and Paris-based private equity firm, has credited Brexit for helping it to raise €4.5 billion (£3.8 billion) for a new fund that will buy mid-market companies in continental Europe.
The Questor Column:
Build yourself a position in undervalued Galliford Try: The FTSE 250-listed company has many strings to its bow: it builds private residential housing through its Linden Homes division, carries out regeneration projects and constructs affordable housing in partnership with local authorities, and it has a contracting arm engaged primarily in government infrastructure projects, such as schools and roads. This diversification is crucial because it means Galliford is not as vulnerable to the vagaries of the residential property market as some of its peers. Since the firm ended the financial year in June with record profits, visitor levels and sales rates at Linden Homes have been encouraging and customer interest has remained solid. Chief Executive Peter Truscott is 'cautiously optimistic' about the housing market, but is also realistic about the uncertainties ahead. This type of prudent approach by a Chief Executive should give investors confidence in the company's strategy. The commercial property sector has seen somewhat of a downturn over the past six months. Luckily, commercial real estate is a tiny part of Galliford Try's construction division. Galliford Try also has scope to expand its national footprint and is already making an effort to open offices where it is under-represented. Galliford Try's shares also offer a sector-busting 8.6% yield, a better rate of return than you will get in any savings account. This is partly because the share price has dropped 26% in the year to date. The stock, however, is starting to bounce back, so investors would do well to jump in now before it's too late. Galliford Try at £12.15 +84p. Questor says 'Buy'.
Finsbury Food Group: Finsbury Food will unveil its full-year results on Monday and the City is expecting an upbeat report. This humble baker has transformed itself in recent years into one of the biggest players in the speciality bakery market, with annual sales of £300 million. The integration of Fletchers and Johnstone's is now complete and has resulted in a number of cost savings for the group. Next year is arguably the first year in which the full benefits of both acquisitions will bear fruit. Meanwhile, Finsbury has invested in upgrading its manufacturing facilities, which will reduce unit costs. Despite the higher expenditure, the balance sheet remains robust and it would not be unrealistic to expect further acquisitions or infrastructure upgrades in the next 18 months. There are challenges ahead, not least the prospect of higher prices for raw ingredients. But with a highly capable management team, Finsbury should be able to ride out any short-term indigestion. To top it all off, the shares are trading on just 12 times forward earnings. Finsbury Food Group at 134.2p -1p. Questor says 'Buy'.
The Guardian
Wage growth slows after Brexit vote: A slide in wages growth in the month after the Brexit vote appeared to give the first warning sign that the uncertainty surrounding the outcome of the referendum could harm the U.K. labour market.
Ford to move all small-car production to Mexico as profits set to fall: Ford has warned shareholders that it is pouring cash into 'emerging opportunities' and expects a steep decline in its financial performance in 2017.
Everyman cinema chain is next to drop zero-hours contracts: The Everyman cinema chain is set to move hundreds of staff off zero-hours contracts by the end of next year, joining a wave of companies turning against the controversial employment contracts.
More than 300 post offices to be hit by 24-hour walkout: More than 300 major post offices will be hit by a 24-hour walkout on Thursday as workers protest against branch closures, job cuts and pension changes.
Daily Mail
Ryanair Boss Michael O'Leary faces third investor revolt in three years over his pay: Ryanair Boss Michael O'Leary was brought down to earth by shareholders protesting about his £2.7 million pay package.
Just Eat's £40 million robot to tell you what to eat and take on rivals Amazon, Uber and Deliveroo: Takeaway delivery firm Just Eat is investing £40 million in a computer system that chats to customers to help it take on rivals Amazon, Uber and Deliveroo.
Daily Express
Pension pot savers hit with £2BILLION of unnecessary fees each year: Savers are being hit with a shocking £2billion in unnecessary fees every year by overcharging pension schemes.
Pure Gym shapes up for £500 million stock market flotation: Britain's biggest gym operator Pure Gym pumped up the U.K.'s new issues market by pressing the button on a £500 million stock market flotation.
European Union ruling traps homeowners: EU Red tape is creating thousands of 'mortgage prisoners' who have been told they cannot afford a new mortgage even though it is actually cheaper than their current deal.
The Scottish Herald
Scottish firms urged to do more to take advantage of tax reliefs: Scottish businesses' low take-up of the U.K. Government's research and development incentives means they risk being left behind in the 'innovation race', accountancy firm KPMG has warned.
Confidence among Highlands and Islands businesses hit by Brexit vote: Confidence among businesses in the Highlands and Islands has tumbled in the wake of the Brexit vote.
Schuh hikes profits as staff share multi-million pound windfall: Profits have soared by nearly 30% at high street retailer Schuh during a year which saw staff share in a £25 million bonus put in place when it was acquired by U.S.-based retailer Genesco in 2011.
Tech firm follows U.S. launch with office in Beirut Digital District: Edinburgh tech business Administrate has launched a base in Lebanese capital Beirut just five months after expanding into the U.S.
Aberdein Considine expands into England with Wallers acquisition: Law firm Aberdein Considine has made its first foray into the English marketplace by taking over Newcastle-based Waller Solicitors.
Aberdeen oil services firm sold to U.S. private equity firm after fall into red: Aberdeen-based ATR Lifting Solutions fell into the red in the latest year as the downturn in the North Sea weighed on the oil services business.
Tennent's gets social with licensees: Brewer Tennent's is helping Scotland's licenced trade get to grips with social media by hosting a series of free workshops.
The Scotsman
Informatics Ventures urges start-ups to Aim higher: The organiser of the annual Engage, Invest, Exploit (EIE) investor showcase is encouraging more Scottish start-ups to consider a move onto the Alternative Investment Market (Aim).
Builder Springfield sees earnings hit a high: House builder Springfield Properties has battled a tough industry backdrop to notch up record full-year profits.
Surgeons hotel carves out record result: An Edinburgh hotel that ploughs its profits into training surgeons worldwide has hailed its strongest ever results.
ESS completes major seabed project: Ecosse Subsea Systems (ESS) has completed a seabed clearance project on what will be one of the world's largest offshore windfarms.
City A.M.
Three Hanjin charter ships sold as cargo freeze likened to 'Lehman collapse': Three ships that had been chartered by troubled shipping firm Hanjin have been sold and two more put up for sale.
Secure Trust Bank eyes graduation to London main market: Secure Trust Bank, one of the U.K.'s challenger bank brands, is planning to move to from London's junior market to the main market.
Metro Bank leads post-referendum challenger bounceback: Metro Bank shares climbed again, as the challenger bank's mighty post-referendum run continues.
Allergan to buy pharma firm in $639 million buyout: Irish pharma firm Allergan is buying psoriasis and autoimmune treatment developer Vitae Pharmaceuticals for $639 million (£484 million) in cash as it hopes to expand its dermatology division – best known for its Botox treatment.
Media groups could get Google payout from EU copyright rules: The European Union has proposed overhauling the trading bloc's copyright and communications rules.
China expected to be the golden ticket for Accesso as revenue leaps: International growth in resorts and attractions is set to work well for ticketing technology company Accesso in coming years.
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