DAILY BRIEFING: Game sells online game-hosting business Multiplay Digital for ￡19m
HOSTING DEAL Retailer Game has sold its online game-hosting business Multiplay Digital to Unity Technologies for ￡19million.
Game bought?Multiplay for ￡20million in 2015, with its results for last year revealing a loss of ￡800,000 due to investment in technology.
Game will use the money to continue developing its stores and live gaming business.
SMOKES BOSS Cigarette maker British American Tobacco has promoted Ricardo Oberlander to chief executive of Reynolds American. BAT paid ￡37billion in January for the final 58 per cent of Reynolds it did not already own.
TASTE TEST Flavouring maker Treatt made ￡12.9million profit during the year ending September 30, up from ￡8.8million the year before, on revenue of ￡109.6million, a 24.5 per cent increase.
Chief executive Daemmon Reeve said: ‘Treatt has enjoyed a very strong year.’
KEY CLIMATE Utility firm Anglian Water says that a ‘stable and attractive climate’ for investment is key to meeting the Government’s housebuilding targets.
Over the latest six months the firm made ￡210million profit, up 1.6 per cent, with revenue up 2.2 per cent to ￡634.8million.
GOLDEN MOMENT Minerals company Hummingbird Resources plans to produce a collectible coin to mark the start of gold production at its Yanfolila mine in Mali.
The 1oz Hummingbird will be minted with a picture of gold miner and 14th century Malian ruler Musa I, who is often described as the richest man in history.
PROFITS BOOST Carpets manufacturer Victoria has seen an 8 per centboost to its profits to ￡12.9million in the six months to the end of September, which was driven by the acquisition of two underlay businesses.
BANK BURDEN?French bank Societe Generale is axing 15 per cent of its branch network as it grapples with technological change sweeping the industry.?
Three-hundred of its 2,000 outlets will be closed and 900 jobs slashed to get costs under control.
EDUCATED BONDS Plans to raise ￡250million by selling a 100-year bond have been announced by Oxford University, its first venture into the debt markets.
CAPITAL SLUMP Office building in London is down 9 per cent in the past six months, reaching its lowest level since 2014, according to research by consultant Deloitte.
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