By: William Turvill

I write about M&A, deals, IPOs, private equity, asset management, media and a few other areas for City A.M. I also write news features and am always interested in interviewing and profiling high-profile business figures. I previously worked for Press Gazette and Mail Online.

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Mobile challenger bank Mondo reaches £1m crowdfunding target in 96 seconds, adding to £7m venture capital investment

March 3, 2016

Mobile challenger bank Mondo today reached a crowdfunding target of £1m in 96 seconds. Some 1,861 people invested an average of £542 through Crowdcube today and will share 3.33 per cent equity in the challenger bank. Venture capital firm Passion Capital has already invested £7m in the bank – £2m in March last year and a [...]
McCarthy & Stone shares fall despite half-year revenue growth, with company “uniquely placed” to serve growing over-65s population

March 3, 2016

McCarthy & Stone shares fell today despite the retirement homebuilder reporting a 32 per cent growth in revenue, suggesting investors are profit taking after the shares' strong performance since the IPO in November. The figures The trading update reported revenue of £250m in the half-year ending 29 February. This was up year on year from £189m. [...]
Mastercard plots £1bn bid for Vocalink after banks told by regulator to give up stakes in payments handler

March 3, 2016

Mastercard is plotting a bid for bank-owned payments handler Vocalink, it has been reported. Sky News said the credit card issuer has approached the board of Vocalink over a deal that could be worth up to £1bn. The approach comes shortly after the new payments industry regulator said Vocalink’s current ownership structure is "hampering competition and [...]
Whitbread shares plunge after “unusually warm winter” slows Costa sales

March 3, 2016

Whitbread shares plunged by more than 4 per cent this morning after an “unusually warm winter” meant Costa’s sales slowed. The figures In the 11 weeks to 11 February, Whitbread revealed like-for-like sales at the coffee chain were up 0.5 per cent. Total sales were up 10.5 per cent. Like-for-like sales across Whitbread’s hotels and restaurants, [...]
Wealth management M&A deals up nearly 50 per cent in 2015, according to new report

March 3, 2016

Wealth management M&A deals grew by nearly 50 per cent last year, according to a new report. Scorpio Partnership’s annual M&A assessment reported there were 124 deals reached in the sector last year. This was the highest figure recorded in the eight years the tracking assessment has been carried out – up from 83 in 2014 and [...]
Gala Coral earnings and revenue up, but Ladbrokes shares dip ahead of proposed bookmaker merger

March 3, 2016

Gala Coral reported increases in revenue and earnings this morning ahead of its proposed merger with Ladbrokes. The results The bookmaker reported net revenue of £333.3m in the 16 weeks ending 16 January. This was up £47.1m, or 16 per cent, year on year. And, with growth in its retail divisions and online, it recorded earnings before [...]
Investec tells investors Playtech has “firepower” for “significant” additions to warchest after company confirms discussions

March 2, 2016

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Facebook investigated in Germany over suspected data protection breaches

March 2, 2016

Facebook is being investigated in Germany over suspected data protection breaches. Germany’s Federal Cartel Office said it has opened an investigation into the US company on suspicion of using its market dominance to violate competition laws. According to Reuters, the watchdog said it suspected Facebook’s terms of service, setting out how it makes use of [...]
Blippar

March 2, 2016

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ITV shares dip despite broadcaster reporting rising revenue, profit growth, special dividend ahead of expected Euro football ad boost

March 2, 2016

ITV’s shares dipped this morning after reporting a worse-than-expected outlook for the first quarter of 2016, despite a strong set of full year results. Total revenue across the company was £2.97bn, up from £2.59bn in 2014. The company reported a six per cent growth in net advertising revenue to £1.72bn. Online, pay and interactive revenue, meanwhile, was up [...]

HSBC: City market’s top firm turns to Asia and Middle East

Premiership run-in: Saints and Bath will impact top four

Here We Are, National Theatre, review: Stephen Sondheim musical is more Severance than sing-a-long

By: William Turvill

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