Pearson sales slip as publisher eyes 2020 revenue growth February 22, 2019 Sales fell at education publisher Pearson in 2018 even as profits surged, the firm revealed today, as it confirmed a £500m pension insurance deal with Legal & General. Read more: Pearson seals £500m pension insurance deal with L&G The figures Revenue slipped nine per cent year on year to £4.1bn after Pearson took a £216m [...]
Pearson to unveil £500m pension insurance deal with Legal & General February 21, 2019 Publishing giant Pearson is set to announce a £500m deal with Legal & General (L&G) in a bid to shore up its pensions liabilities, Sky News reported. The FTSE 100 firm, which specialises in education, will announce the deal tomorrow alongside its annual results, according to the report. Read more: Pearson sells US school textbook [...]
German prosecutors probe Financial Times journalist over Wirecard reporting February 18, 2019 Prosecutors in Munch have launched an investigation into a Financial Times (FT) journalist whose reporting of alleged fraud at Wirecard sparked a frenzy of short selling of the firm’s shares. The FT published a series of stories revealing alleged fraud at Wirecard’s Singapore office and an investigation by local police, causing shares in the fintech company to [...]
Pearson sells US school textbook arm for $250m February 18, 2019 Pearson announced the $250m (£194m) sale of its US school textbook division today as it pursues a simplification strategy as it doubles down on digital. Read more: Pearson's shares fall amid declining US revenues The education publisher expects to net $25m today and the full sum over the next three to seven years from the [...]
Haynes shares soar as growing digital business boosts half-year results January 24, 2019 Publisher Haynes saw its share price jump this morning after reporting a rise in half-year revenue and profits as it looks to shift its car manuals to digital formats. The figures Haynes reported a 23 per cent rise in profit before tax to £1.6m in the 26 weeks to the end of November. Revenue jumped [...]
Pearson sees shares hit by declining US revenues as profits remain on track January 16, 2019 Publisher Pearson saw its share price fall this morning after reporting a decline in its US business, despite cost savings keeping profits on track. The education group said it expects operating profit of £540m to £545m, within its guidance of £520m to £560m, and an increase in profits from the year before. Read more: Murdoch's media empire [...]
M&G buys Financial Times headquarters from Pearson for £115m November 14, 2018 Publishing giant Pearson today agreed to sell the Financial Times's headquarters to investment firm M&G for £115m. The building at One Southwark Bridge, on the bank of the Thames, has been home to the Financial Times since 1987. The deal is expected to close by the end of 2018. Now the newspaper will move back to its [...]
Firms to increase investment in staff training amid UK skills gap November 5, 2018 More than four-fifths of UK firms expect to maintain or increase their investment in training their workforce over the coming years, as the number of higher-skilled roles continue to rise. Fresh figures released today by the CBI, in collaboration with Pearson, revealed the planned increase on training costs, which currently amount to around £44.2bn each [...]
Pearson tells investors it expects to return to growth as it swaps textbooks for online classes October 17, 2018 Education publishing business Pearson said it is on track to return to growth this year, despite declining US demand weighing down on its finances. The education publishing business today said it is “set up well for the future” as it anticipates a return to underlying profit growth for 2018, sending shares up four per cent [...]
One Bartholomew Lane put on the market for £104m September 13, 2018 A major City building is being put up for sale for more than £100m today, City A.M. can reveal. One Bartholomew Lane, which is located opposite the Bank of England in the heart of the Square Mile, currently houeses South Korea’s sovereign wealth fund and the Agricultural Bank of China (one of China’s three largest [...]