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Tag: stake

Betfred to axe 4,500 jobs after FOBT stake cut

Betfred to axe 4,500 jobs after FOBT stake cut

Business
The bookmaker which owns The Tote will axe more than 4,500 jobs if the Government implements plans to slash maximum stakes on gambling machines to just £2. Sky News has learnt that Betfred has told ministers that almost 900 of its shops - more than half its UK estate - will become loss-making overnight if they press ahead with reforms to Fixed Odds Betting Terminals (FOBTs).In a letter to members of the home affairs sub-committee, Mark Stebbings, Betfred's managing director, warned that "much upset and heartache will go into having to make…redundant" close to 4,500 people who work in the potentially loss-making betting shops.Sources said that several hundred staff at the company's Warrington headquarters were also likely to be made redundant if the £2 move ...
Apple shares hit all-time high after Buffett raises stake

Apple shares hit all-time high after Buffett raises stake

Technology
Apple shares have hit an all-time high on news that legendary investor Warren Buffett now has a roughly 5% stake in the tech giant.Shares in Apple, already the world's most valuable company, rose by almost 4% on Friday to more than $ 183.7 each.Mr Buffett said his Berkshire Hathaway group bought about 75 million more shares of the iPhone maker in the first three months of the year.His investment moves are closely watched across the world.Mr Buffett's company has been buying up shares in Apple since 2016. Berkshire Hathaway claimed a nearly 3.3% stake, or more than 166 million shares, at the end of last year. At the time, the holding, one of Berkshire's biggest stock market gambits, was worth more than $ 28bn. Now, after the additional share purchases and an 8% rise in price since the start...
Woodford outflows hit stake in Atom bank

Woodford outflows hit stake in Atom bank

Business
Neil W‎oodford, Britain's most celebrated fund manager, has been forced to reduce his stake in a leading challenger bank after a wave of client redemptions dried up cash for new investments.‎Sky News has learnt that Woodford Investment Management, which was set up 2014, informed the board of Atom Bank that it could not afford to participate in a £150m share issue announced this week.The deal would have required Woodford to write a multimillion pound‎ cheque to maintain its stake in Atom at over 20%, but it told the lender several weeks ago that it was "unable" to participate, according to several City sources.Woodford's shareholding has now fallen to 18%, according to a spokesman.The development is the latest setback for Mr Woodford, and raises questions about the extent of the liquidity c
Wolseley owner sells stake to Thai-listed Minor

Wolseley owner sells stake to Thai-listed Minor

Business
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
Icahn in activist move takes 13% stake in SandRidge Energy, DJ reports

Icahn in activist move takes 13% stake in SandRidge Energy, DJ reports

Finance
Carl Icahn has bought a 13 percent stake in SandRidge Energy, becoming the latest shareholder to oppose the company's deal to acquire Bonanza Creek, according to a Securities and Exchange Commission filing.SandRidge is an oil exploration and production company based in Oklahoma City. Last week, it announced a $ 746 million deal to buy rival Bonanza Creek. But the activist investor Fir Tree Partners, which owns more than 8 percent of SandRidge, on Monday said it opposed the deal, saying the price is too high.Icahn also has stakes in CVR Energy and Cheniere Energy.Dow Jones first reported the stake, citing sources.Let's block ads! (Why?) Finance