Financial News

Carpetright hoovers up £60 million in fresh capital
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Carpetright hoovers up £60 million in fresh capital

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Carpetright (CPR) has announced plans to raise net proceeds of £60 million via a placing of new shares. Roughly a third of these funds will be used to cover the costs of its company voluntary arrangement and repay outstanding short term debts while the remainder will satisfy the capital expenditure requirements of the firm’s Revised Business Plan.

Ocado’s new deal could push it in to FTSE 100
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Ocado’s new deal could push it in to FTSE 100

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Shares in grocery delivery outfit Ocado (LON:OCDO) soared 278.8p to 827p (as at 14:50 BST) after the company announced that it had inked a deal with US retail giant Kroger. Under the arrangement, Kroger will use Ocado’s technology for food distribution to improve and centralise their online shopping experience. The financial effects of the deal are…

PaddyPower Betfair looking at merger to profit in US
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PaddyPower Betfair looking at merger to profit in US

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PaddyPower Betfair (PPB) may once again be on the merger market after Monday’s US Supreme Court decision. The company this morning confirmed that it was in discussions with US fantasy sports operator FanDuel to create a combined business targetting the US sports betting market.