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Monday newspaper round-up: Ladbrokes-Coral, BHS, G4S, Sky

Mon, 16th May 2016 06:39

(ShareCast News) - The merger between Ladbrokes and Coral could be blocked, analysts have suggested, citing the blocking last week of the proposed merger between O2 and Three by Europe's competition commission on the ground that it would have cut the number of big players from four to three, an argument supported by the UK's regulator. Industry experts suggest the merger could be undermined by data showing that about three quarters of retail punters place bets only in shops. - The TimesA number of bidders battling for BHS have been told to improve their offers by Tuesday to stand a chance of buying the collapsed high street chain. Administrators have spent the past week assessing several bids for the retailer and are expected to make a decision on a buyer within days. - Financial TimesO2 chief executive Ronan Dunne is exploring a debt-fuelled £8.5bn management buyout attempt following the collapse of CK Hutchison's takeover bid for the mobile operator. The Irishman, 52, has been approached in recent weeks by potential private equity sponsors aiming to carry out what would be the largest UK leveraged buyout since before the financial crisis. - TelegraphThe governor of the Bank of England was forced to defend his record yesterday as controversy raged over his interventions in the Brexit debate. Mark Carney, 51, said "we get the big calls right" in response to accusations that the Bank had produced inaccurate forecasts. - Times/Telegraph/GuardianThe CBI has cut its growth forecasts as uncertainty grows about the European Union referendum and as Commonwealth countries line up to advise against Brexit. After the Bank of England's downgrade last week, the employers' organisation is predicting GDP growth of 2 per cent in both 2016 and 2017, down from its forecasts of 2.3 per cent and 2.1 per cent, respectively, in February. - The TimesUK workers are being warned to expect meagre wage rises until at least 2020, as weak productivity and new costs such as the national living wage curb employers' readiness to raise salaries. Even though employment is expected to rise, pay growth is forecast to be just 1.7% over the next year, as an ample supply of labour helps employers hold back on wage rises in a "jobs-rich, pay-poor" economy, said the Chartered Institute for Personnel and Development (CIPD). - GuardianThe break-up of BAA is on course to create £870m of consumer benefits by 2020, the Competition and Markets Authority says in a new report to be published today. Forcing the airports operator to sell Gatwick, Stansted and Edinburgh produced legal challenges, but the resulting competition has led to more investment and faster passenger growth, the CMA says. - The TimesSky faces a possible 70% rise in the bill for German football rights in an auction next month, analysts estimate. The broadcaster currently pays €645m (£508m) per season for exclusive rights to Bundesliga matches but amid stronger competition in the German pay-TV business, the annual bill could rise as high as €1.1bn, say specialists at Ampere Analysis. - TelegraphG4S, the world's biggest security company, is planning to open mobile or high street banking units in the UK and five other European countries as it moves in on a space many lenders are vacating. G4S's armoured vehicles and secure locations already transport and store cash for central banks, high street lenders, retailers and public services. - Financial TimesThe living wage will force a third of Britain's local shopkeepers to cut jobs or raise prices, new research into the impact of George Osborne's policy claims today. The darker outlook for convenience stores is a blow to retailers in general. - TelegraphThe average asking price of a typical first-time buyer home leapt by 6.2% in a month after buy-to-let investors rushed to buy properties before last month's stamp duty increase, according to figures on Monday. The average for properties coming on to the market in England and Wales with two bedrooms or fewer was £11,298 higher in May than in April, at £194,224, according to data from the property website Rightmove. - GuardianChinese nationals have become the largest foreign buyers of US property after pouring billions into the market in search of safe offshore assets, according to a study. A huge surge in Chinese buying of both residential and commercial real estate last year took their five-year investment total to more than $110bn, according to the study from the Asia Society and Rosen Consulting Group. - GuardianThe Church of England has said it fears a looming global economic slowdown with governments relatively powerless to shore up growth, as it revealed a decision to offload a portion of its substantial stock market holdings. The church commissioners, who manage the C of E's £7bn investment fund, said they enjoyed market-beating returns of 8.2% last year but warned they would struggle to keep up that pace in future. - GuardianThe big four supermarkets in Britain have pledged to save women hundreds of pounds on sanitary products over the course of their lifetimes following the government's promise to scrap the so-called tampon tax, the Guardian can reveal. Tesco, Asda and Morrisons have written to Paula Sherriff, the Labour MP who led the parliamentary campaign to scrap the 5% VAT on sanitary products, confirming that the price tag will be reduced in line with the abolition of the levy. - Guardian
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31 Oct 2016 09:39

BROKER RATINGS SUMMARY: HSBC Raises IAG To Hold From Reduce

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26 Oct 2016 15:57

Ladbrokes-Coral merger wins final CMA approval with 322 shop disposals

(ShareCast News) - Ladbrokes and Coral will be able to complete their merger "in the very near future" after the competition regulator gave its final approval on Wednesday. After the Competition & Markets Authority gave its green light, the FTSE 250 bookmaker said it had approved the disposal of

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21 Oct 2016 14:38

Daisy pulls sterling junk bond as investors get tough

By Robert Smith LONDON, Oct 21 (IFR) - Daisy called off an attempt to issue a sterling high-yield deal on Friday, in the latest sign of waning UK investor appetite for riskier debt in challenging sectors. The UK company threw in the towel on the debut bond after four days of marketing

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18 Oct 2016 17:12

UPDATE 4-William Hill, Amaya drop short-lived gambling merger talks

* Talks abandoned less than two weeks after announcement * Sector consolidating as more gamblers go online * European rivals have already joined forces * Amaya FY revenue forecast below market expectations * Amaya shares drop 8.3 percent (Adds share move, Amaya spokesman

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18 Oct 2016 13:24

RPT-UPDATE 3-William Hill, Amaya drop short-lived gambling merger talks

(Repeats for wider distribution, no changes to text) * Talks abandoned less than two weeks after announcement * Sector is consolidating as more gamblers go online * European rivals have already joined forces * Amaya FY revenue forecast below market expectations * Ama

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18 Oct 2016 08:28

Ladbrokes revenue grows for fourth successive quarter

(ShareCast News) - FTSE 250 betting and gambling company Ladbrokes reported growth for a fourth successive quarter for revenue as it remains confident of delivering full year results in line with expectations. In a trading update for the third quarter ended 30 September, net revenue increased 12.1%,

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18 Oct 2016 06:56

Tuesday newspaper round-up: Bonds, Shell, bookmaker levy, farm boost

(ShareCast News) - Investors dumped UK government bonds yesterday in one of the heaviest sell-offs since the Brexit vote as international demand for sterling assets declined rapidly. Overseas investors are becoming increasingly worried that inflation and a move by the Conservative government towards

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17 Oct 2016 07:13

Ladbrokes and Coral announce planned sale of 359 shops

(ShareCast News) - Bookmaker Ladbrokes announced on Monday that subsidiaries of both itself and merger partner Gala Coral Group have agreed to sell a total of 359 licensed betting offices to Done Brothers Cash Betting - trading as Betfred - and StanJames Abingdon - trading as Stan James. The FTSE 25

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17 Oct 2016 06:58

Monday newspaper round-up: New Brexit plans, dividends, supermarkets

(ShareCast News) - Britain would continue to pay billions of pounds into the EU budget after Brexit to maintain cherished single-market access for the City of London and other sectors under plans being discussed by Theresa May's cabinet. The prime minister's demand that Britain controls its borders

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17 Oct 2016 06:20

Ladbrokes, Gala Coral to sell 359 shops ahead of merger

LONDON, Oct 17 (Reuters) - British Ladbrokes and Gala Coral said they agreed to sell 359 shops for 55.5 million pounds ($69 million) to rivals, in a deal which will reduce their footprint and pave the way for competition authorities to allow their merger to proceed. The pair were told in Ju

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10 Oct 2016 07:49

BUZZ-William Hill: best day in 3 months after confirming merger talks

** William Hill rises 5.4 pct, its best day since mid-July, after confirming merger talks with Canada's Amaya ** Co says deal would create a global leader in sports betting, poker and casino ** Top riser on Stoxx 600 and most traded by average volumes - 1.5x 30-day average in the firs

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7 Oct 2016 07:39

BUZZ-UK gambling companies lower after media reports of TV ad ban

** Shares in British gambling companies fall after The Times newspaper reports that the companies are due to be banned from advertising on television during the day ** William Hill down 2.9 pct, Labrokes down 2.5 pct vs. Britain's midcap index which is up 0.2 pct ** Cenkos analyst Sim

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20 Sep 2016 06:57

Tuesday newspaper round-up: May in New York, Ladbrokes, building blocked

(ShareCast News) - Theresa May will canvass leading Wall Street banks over how Britain should structure its departure from the EU to reassure them that Brexit will not damage their UK business. Mrs May will meet "mostly" chief executives from the finance sector along with figures from the technology

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31 Aug 2016 07:51

Gala Coral revenue up but losses widen

(ShareCast News) - Ladbrokes said on Wednesday that revenue at Gala Coral, with which it has agreed to merge, rose in the third quarter, but the bookmaker's loss widened due to exceptional costs. In the 12 weeks ended 2 July, net revenue at Gala Coral was up 10% from 2015 to £264m, while earnings be

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26 Aug 2016 08:46

Ladbrokes given a boost by Berenberg upgrade

(ShareCast News) - Berenberg has raised its rating on Ladbrokes to 'buy' from 'hold' and lifted its target price to 185p from 130p, saying the company is its second favourite stock in gaming after Playtech. The broker said since it initiated on Ladbrokes a number of positives have materialised with

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