News about John Wood
Fresh blow for Titanic shipyard as Royal Navy work heads for Spain: 500 jobs at risk at Harland & Wolff
www.dailymail.co.uk,
September 28, 2024
Belfast-based Harland & Wolff, which built the Titanic, was hired last year alongside Navantia, a Spanish state-owned shipbuilding giant, to build three Navy vessels in a £1.6bn deal. Anger that some of the work went to Spain was assuaged by the promise that much of it would go to Northern Ireland.
Struggling Shipbuilder Harland and Wolff secures £20m funding as it fights off administration
www.dailymail.co.uk,
August 1, 2024
The Belfast shipyard which built the Titanic, has reached a deal with its existing Wall Street lender Riverstone,to expand its credit facility, on which it pays 14% interest, from £90m to £110m. It is thought a condition was the exit of boss John Wood after the Government said it would not provide a £200m loan guarantee.
Harland & Wolff shipyard rescue 'too risky' for taxpayers
www.dailymail.co.uk,
July 23, 2024
The Business Secretary yesterday said he was confident Royal Navy warships will be built in Belfast - despite ruling out a government rescue for troubled manufacturer Harland & Wolff. Jonathan Reynolds said there was a 'very substantial risk that taxpayer money would be lost' if such a bail-out were to happen. Instead, he said he believed a 'market solution' would be found for the company, best known for building the Titanic but now racing to secure new funding.
Harland & Wolff boss John Wood quits in funding crisis
www.dailymail.co.uk,
July 19, 2024
It said that chief executive John Wood (pictured) was 'taking a leave of absence' with immediate effect. He will be replaced on an interim basis by veteran accountant Russell Downs, who worked on the administration of Lehman Brothers. Harland & Wolff also revealed it will not be handed a loan guarantee by ministers, which was seen as key to keeping the 162-year-old business afloat.
Titanic shipyard faces closure after 160 years as Sir Keir Starmer's Government 'is set to reject £200m aid package' for Harland & Wolff
www.dailymail.co.uk,
July 16, 2024
Sir Keir Starmer 's Government has reportedly decided that it would be an inappropriate use of public funds. The move fuelled fears that the 162-year-old firm could go bust after its shares were suspended this month when it failed to file audited accounts. If it collapsed, British warships could be built by a foreign yard for the first time in the Royal Navy's history. And the saga has raised questions over Labour's industrial policy and ambitions.
MARKET REPORT: Trustpilot shares given thumbs down by investors
www.dailymail.co.uk,
July 11, 2024
Trustpilot, which was set up in 2007 to provide a platform for users to post reviews about businesses and shop around for the best deals, reported a strong first half of the year. It said group revenues look to have soared 17% to £77m in the six months to the end of June. Despite this, Trustpilot reiterated its annual forecast and still expects sales to rise around 15% across the whole of 2024.
Britain's 30 best streets to live on: They're NOT the most expensive, but they do all have the 'happiness factor'. With houses starting at £120,000, property experts pick their favourites
www.dailymail.co.uk,
July 10, 2024
How do you decide what is a 'good' street to live on? It's not as simple as it sounds. You may want to be near a pub. Yet you don't want to be so close that you hear disturbances at night. A restaurant would be good. But you don't want to smell cooking all day and night. You'd like access to green space. But perhaps you don't want to be isolated in the wilds of the countryside. You want friendly neighbours. But you don't want them to be too intrusive. One publication measured the country's streets based on their property prices. We disagree with this method. The test of a good street is to simply visit it and ask yourself if you could imagine living there? Would you be happy there? We consulted tried-and-trusted estate agents and property experts across the country to bring you the ultimate guide to Britain's 30 best streets to live on, whether your budget is £120,000 or £2.25 million.
'Good Samaritan', 46, was killed instantly when he was run over by a car as he tried to help a stranger lying in the street amid family wedding feud, court told
www.dailymail.co.uk,
June 18, 2024
A father-of-two was killed instantly as he tried to help a stranger he saw lying in the street when a car was used 'as a weapon' to run over a number of people, a jury has been told. Chris Marriott, 46, was helping Nafeesa Jhangur when they were driven over by a Seat Ibiza car driven by Ms Jhangur's brother, Hassan Jhangur, 24, Sheffield Crown Court heard on Tuesday. Tom Storey KC, prosecuting, told a jury that Jhangur, who denies murder, hit five people when he ploughed into them in College Court, Sheffield, before getting out of the vehicle and attacking another man with a knife, leaving him with serious injuries.
FTSE 250 frenzy: Experts say these stocks can help Brits cash in as UK markets soar
www.dailymail.co.uk,
May 17, 2024
Such is the growing optimism surrounding the UK markets that investment professionals are bargain-hunting in the domestically focused FTSE 250. This index is full of British businesses 'trading at material discounts to their global peers', as Simon Doherty, head of managed portfolio services at Quilter Cheviot, puts it. The view that some of these companies may be ripe for takeover is gaining currency - thanks to the £34billion bid battle for mining giant Anglo American. This appears to have highlighted the value of much cheaper, smaller businesses - without political baggage.
SMALL CAP MOVERS: The stars are aligning for Phoenix Copper after fully-subscribed bond issue
www.dailymail.co.uk,
May 17, 2024
The stars are aligning for Phoenix Copper Ltd after seeing an $80million corporate copper bond issue fully subscribed by one investor this week. The bonds will be drawn down in stages as the construction of Phoenix's Empire Open-Pit Mine in Idaho, US, gets underway.
BUSINESS LIVE: BoE base rate decision; ITV eyes ad market recovery; John Wood rejects takeover offer
www.dailymail.co.uk,
May 9, 2024
Among the companies with reports and trading updates today are ITV, Wood Group, BAE Systems and Hipgnosis. The Bank of England will at midday publish its Monetary Policy Committee's latest decision on UK interest rates. Market forecasters expect the bank to hold base rate at its current level of 5.25 per cent.
John Wood Group faces calls to ditch London as shares continue to slide
www.dailymail.co.uk,
April 16, 2024
Activist investor Sparta Capital Management has written to Wood chairman Roy Franklin to urge him to explore a US listing or the sale of the company. The engineering group's shares have slumped nearly 40% in the past year, giving it a market cap of around £992m.
Harland & Wolff, the Titanic shipyard, has come to an end on a £120 million Falklands lease
www.dailymail.co.uk,
March 5, 2024
Harland & Wolff, the Falklands government's most favored vendor to produce four pontoons at the island's port, is Belfast shipyard Harland & Wolff Group. The company may earn up to £120 million in sales over two years as a result of the merger. As part of measures to modernize the port, it will produce, transport, and install the 300 ft long platforms.
'I feel like I have a new family': Emotional moment son of hero British Army officer who liberated the Bergen-Belsen concentration camp in 1945 meets the family of one of the many Jewish prisoners his father saved from the Nazis
www.dailymail.co.uk,
February 9, 2024
It's an ongoing project for 64-year-old John Wood, who told the world about the horrors of Bergen-Belsen and the key role his father played in rescuing refugees. When he spotted an emotional family among the attendees last week, he was delivering yet another talk about his dad, Lieutenant-Colonel Berney (left). Laurence Skinner, a French mother-of-four who had traveled with three of her children and her English husband Barry, had a very good reason to be there. Jeannine Guillemant, a mother who died in 2019 at the age of 95, was one of the Jewish prisoners released at Belsen by Lieutenant-Colonel Berney and other Allied soldiers in April 1945. The troops had lived through a living nightmare amid the Nazi killing machine's ruins, but Jeannine was able to tell the tale. So Laurence and her family listened to John, who was likely the explanation for their mother's death was not the result of her horrific ordeal. I feel like I have a new family now,' John told MailOnline that his meeting with Laurence and her family was a "very moving moment." Laurence said, "It was so sad that we could meet him with three of our four children." We were thrilled.'
TIPS FROM THE MIDAS: John Wood Group, a company that may have inherited a position in your portfolio, could have a stake in your portfolio
www.dailymail.co.uk,
August 26, 2023
Wood shares were at £4.21 right before Covid's death, but since then, they have declined. In total, they have declined by 82% in the last five years. An aborted takeover bid by venture capitalists Apollo earlier this year gave hope but then despair. The company has a diverse client base in 60 countries, and the company's search for environmentally friendly energy and gas companies isn't going away. The recovery may not be quick, but Wood shareholders may be rewarded with patience, rather like John Wood's fishermen ancestors. In the short term, there is always the chance of a nibble on the line from another interested buyer. This one is the first time we've seen one.
MARKET REPORT: Covid's sales in China have soared as a result of the summer flu virus and mildering of Covid limits
www.dailymail.co.uk,
August 2, 2023
Haleon said that annual revenues will now be higher than previously expected thanks to consumers' ability to withstand 7.5% price increases and staying with the Sensodyne and Panadol brand, according to the company. Sales were aided by the easing of Covid curbs in China, which raised demand for its medications, while a flu outbreak hit consumers in this spring.
Driver who downed eight pints and killed a pedestrian on way home is jailed for eight years
www.dailymail.co.uk,
June 21, 2023
After a seven-hour binge in the pub with colleagues on September 19, 2020, James Wood (left), 62, returned home in his red Citroen Berlingo (stock image correct). He was driving along Walton Bridge Road in Shepperton, Surrey, when he collided with Brendan O'Connell, 52. Mr Wood, who had been jailed for drink driving just two weeks earlier, did not stop to see if the grandfather was okay and instead left him in the car before stopping to buy two bottles of wine and some fish and chips on the way home. At the scene, O'Connell was pronounced dead by police, who later visited Wood at his house and discovered his car was ruined. Wood denied the crash or alcohol consumption at the time.
ALEX BRUMMER: The private equity onslaught is eroding British tech and the country's tax base
www.dailymail.co.uk,
June 5, 2023
At present, Whitehall and the City are heavy on restoring confidence in the United Kingdom as a desirable location for IPO firms. It's all hopeless, however, when long investors in the United Kingdom are so poor on the ground as a result of a demise of pension funds, poor leadership, and the onslaught of private equity.
What is the FTSE's demise?
www.dailymail.co.uk,
May 3, 2023
Cash has flooded into the city to snap-up publicly listed companies in recent months, while less firms have applied to London to start selling. The government and City regulators have been looking at ways to respond to the increasing trend in attempts to make London a more affluent destination for public companies, but experts warn there are no straightforward answers.
With a £269 million bid, Medica becomes the new private equity target
www.dailymail.co.uk,
April 24, 2023
Since IK Partners placed a £269 million bid for the teleradiology company, Medica Group has become the new London-listed company to be a target for private equity buyers. The board of Medica recommends that shareholders vote in favour of the deal, which will, according to the company, enable investors to realize the value of the shares at a rate that reflects "the future growth potential of the company."
THG shares have soared 40% as the city's takeover fever sweeps
www.dailymail.co.uk,
April 17, 2023
THG, the Hut Group behind websites Lookfantastic and Myprotein, did not disclose the terms of Apollo's 'highly preliminary and non-binding indicative order.' Meanwhile, two FTSE 250-listed companies, Network International and John Wood, have reported that fresh takeover bids from private equity investors were being considered.
Market Report: Pharma firm Okyo has dropped as it leaves City for New York
www.dailymail.co.uk,
April 5, 2023
The British biopharmaceutical company, which first listed in London in July 2018, has announced that its shares would be delisted on May 12 pending shareholder approval. 'The number of ordinary shares on the Main Market is negligible and does not reflect the associated costs,' a spokesman said. Okyo Pharma, which focuses on dry eye disease treatments, has a dual US-UK listing. According to the company's plan, the London-listed shares will be transferred to Nasdaq, but would have no effect on those that are already listed in New York.
The revenue backlog for shipbuilder Harland & Wolff has increased to £900 million
www.dailymail.co.uk,
March 1, 2023
The shipbuilder recently won a £1.6 billion contract as part of the Team Resolute consortium, which also includes consultancy BMT and Spain's state-owned Navantia, to assist in the production of three support ships for the Royal Fleet Auxiliary. It is expected to create another 1,200 jobs at its historic Appledore and Belfast shipyards, as well as a £800 million in total profits from the sale.