Britain’s biggest bookies bet on plans for stricter self-regulation September 14, 2014 The four largest high street bookmakers will today reveal plans for a new independent watchdog to hold the gambling industry to account. They will also publish plans to restrict the advertising of fixed-odds betting machines and pre-watershed television advertising. The bosses of William Hill, Ladbrokes, Coral and Paddy Power will launch the package of commitments [...]
Delek Group in £153m sale of Roadchef as part of focus on energy work September 14, 2014 Israeli conglomerate Delek Group yesterday announced that it had agreed to sell Roadchef, one of Britain’s leading roadside service area businesses, to European fund Antin Infrastructure Partners for about £153m. Delek Group, owned by multi-billionaire Yitzhak Teshuvah, holds major shares in numerous new-found gas fields in the eastern Mediterranean. The sale of Roadchef is part [...]
SAB Miller offer rebuffed by Heineken September 14, 2014 BREWING giant SAB Miller has considered an offer for smaller independent rival Heineken in a deal that would have helped to protect it from a takeover bid from AB inBev. SAB Miller is understood to have approached Heineken two weeks ago with a preliminary offer, according to Bloomberg News, which was then rejected by the [...]
Dubai Mall owner aiming for £1bn IPO in UAE’s biggest flotation since financial crisis September 14, 2014 The biggest flotation in the United Arab Emirates (UAE) since the global financial crisis seven years ago is underway as Dubai’s Emir Malls Group (EMG) is hoping to raise nearly $1.6bn (£983m) from the sales of shares. EMG is offering 2bn shares, worth around 15.4 per cent of equity, with the price range set [...]
Cross-border lending jumps September 14, 2014 BANKS have increased their cross-border lending substantially for the first time since 2011, indicating that confidence is flooding back into markets. The Bank of International Settlements said yesterday that cross-border loans rose $580bn (£356.6bn) in the first quarter of 2014. The increase occurred across all markets, and emerging markets recorded a rise of $188bn in [...]
Sweden to turn left after poll September 14, 2014 A COALITION of three opposition centre-left parties appeared to be on course to form the largest bloc in Sweden’s parliament after yesterday’s general election. However, although the bloc overtook the governing centre-right coalition, it fell short of an absolute majority. The opposition of Social Democrats, Greens and Left Party would win 160 seats in the [...]
Party leaders urged to rebalance the economy September 14, 2014 BRITAIN’S political leaders are being urged by manufacturers to back policies that will rebalance the UK’s economy, following a YouGov poll suggesting strong support for such a move from voters. EEF, the manufacturers’ organisation’s call follows new research confirming widespread support for industry’s demands for better-balanced growth. According to the YouGov poll, 63 per cent [...]
Strong year for City flotations September 14, 2014 LONDON’S listings market is bouncing back to pre-recession highs, as an increasing number of companies make their debut on the London Stock Exchange. Research by Capita Asset Services forecasts main market initial public offerings (IPOs) are likely to be worth £11.7bn this year, smashing the £8.7bn figure in 2011 that was largely raised by the [...]
IG Group takes aim at incumbents with online stockbroking service September 14, 2014 SPREADBETTING firm IG Group is taking aim at Hargreaves Lansdown and Barclays Stockbrokers with the launch of an online stockbroking service today. IG, founded 40 years and with a majority of the market, has spent between £2.5m to £3m developing the service over the past two years in a bid to crack the lucrative market. [...]
Miner Mick Davis gets First Avenue on board to build $4bn war chest September 14, 2014 Mining magnate Mick Davis is believed to have hired more advisers as he looks to build on his $4bn (£2.5bn) funds while hunting assets for his new mining company. Davis has been working to build up funds since setting up X2 Resources following the sale of Xstrata to Glencore for $27bn last year. Now, in [...]