The AIC Financial Blog

DEBENHAMS TAKEN OVER BY CREDITORS

The UK high street giant Debenhams went into administration on Tuesday, before being immediately sold to its creditors. In a similar arrangement to that of Interserve, the move allows Debenhams to continue trading while restructuring takes place, but wipes out...

GOOGLE GAMES THE TECH MARKET

Google recently unveiled Stadia, its new video-game streaming platform in a move that will strike fear into the likes of Xbox, PlayStation and Nintendo. Expected later this year, the platform will store games in the cloud allowing players to jump across devices...

INTERSERVE RESCUED; SHAREHOLDERS DROWN

The UK outsourcing firm Interserve went into administration last weekend after its deleveraging plan to stabilise the company was rejected by its largest shareholder, the US hedge fund Coltrane. However, after applying for administration the company was sold to its...

BOEING SLUMPS AS COUNTRIES GROUND 737 MAX 8 PLANES

Aircraft firm Boeing saw its share price fall more than 10% in two days as countries around the globe, including the UK, have for now banned its 737 MAX 8 planes on safety grounds. In the wake of the Ethiopian Airlines crash on Sunday, which was the second accident...

ROLLS-ROYCE SPUTTERS ON £2.9BN LOSS

Engineering firm Rolls-Royce saw its shares fall more than 5% last Friday after it reported a pre-tax loss of £2.9bn for 2018, compared with a profit of £3.89bn the previous year. While underlying profit and cash flow improved, a number of exceptional costs pushed it...

CRISIS IN 57 VARIETIES

Kraft Heinz, the food giant that resulted from a 2015 merger backed by major shareholder Warren Buffet, hit a record low on Friday after a confluence of bad news left a bad taste in investors’ mouths and the shares plummeted 27%. More than $16bn was wiped from...

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