[unable to retrieve full-text content]Richard Desmond's 17-year status as one of Britain's most prominent newspaper proprietors will reach its denouement this week when he clinches a £127m deal to sell the Daily Express to the publisher of the Daily Mirror. Business News - Markets reports and financial news from Sky
The restaurateurs behind landmark London venues including The Wolseley and The Delaunay will this week hand control of their company to a Bangkok-listed hotelier.Sky News has learnt that a majority shareholding in Corbin & King, which was established in 2003, is being bought by Minor Hotels, which operates more than 150 sites around the world.The deal, which will be announced to the Thai stock exchange on Monday by the parent company Minor International, will be one of the most prominent to involve a portfolio of top London restaurants this year.Sources said the deal valued Corbin & King at roughly £60m and would result in Chris Corbin and Jeremy King continuing as minority investors alongside Minor.The Thai company is buying most of its stake from Graphite Capital, a private equit
Shares in Daily Mail publisher DMGT have fallen by 25% to hit a near five-year low.It came after full-year profit dropped 13% to £226m, and broker Liberum downgraded DMGT from "buy" to "hold" over consumer media concerns.DMGT said it may be "adversely affected by recent disposals and challenging conditions" in some sectors next year.They also warned that advertising market conditions were "likely to remain volatile".Its financial results revealed it was also hit by a £206m impairment charge against its Genscape, Xceligent and SiteCompli businesses.Chief executive Paul Zwillenberg said DMGT had delivered a "resilient underlying performance during the year".He said that website MailOnline had continued to grow its revenue strongly, "moving into operating profit during the final quarter".DMGT
The Dallas Cowboys players, staff and owner Jerry Jones took a knee before the US national anthem at Monday's game against the Arizona Cardinals in a protest against President Donald Trump.Boos were heard in the stadium before both teams stood and linked arms on their own sidelines for the anthem. Trump said on Friday that NFL players who fail to stand during the national anthem should be sacked or suspended.Jones was one of seven NFL owners to donate to Trump's inauguration. NFL row 'nothing to do with race' says TrumpThe fans react: #TakeAKnee versus #BoycottNFL Media playback is not supported on this device In widespread protests at the weekend, players responded by kneeling, linking arms or staying in the locker room.Basketball star L...
A former investor in Gartmore, the asset manager, has been approached about backing a buyout of Old Mutual's £25bn fund management arm.Sky News has learnt that Hellman & Friedman, a US-based private equity firm, is among a number of parties being sounded out by Old Mutual as it tries to drum up a bumper auction of the business.A potential deal would see Richard Buxton, the star fund manager who runs Old Mutual Global Investors (OMGI), leading a buyout of the division's single-strategy operations.Any such transaction could value the unit at somewhere in the region of £550m, bankers said on Monday.If completed, it would rank among the most significant takeovers in the UK asset management industry, which is grappling with increasingly onerous regulation.Sky News revealed earlier this mont