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 [...]
Warburg Pincus considering sale of Survitec September 14, 2014 Private equity firm Warburg Pincus is thought to be looking to sell UK-based safety and survival equipment business Survitec. The manufacturer of survival gear in the marine, defence and aerospace sectors produces a wide range of kit, from life rafts to fighter pilots’ anti-G suits.
Dealmakers thrive in City’s flotation frenzy September 14, 2014 DEALMAKER of the year Although there has been a dearth of mergers and acquisitions so far this year, there has been a rash of initial public offerings (IPOs) for our dealmakers to get their teeth into. There has been some exciting deals for bankers to get a buzz from. Verizon Wireless’ $130bn deal to take [...]
Undercover Rupert Murdoch hits Scottish streets ahead of independence referendum September 14, 2014 If you were north of the border over the weekend breathing in Scotland’s febrile political atmosphere you may have been standing side-by-side with none other than Rupert Murdoch. But you may not have known it. According to a tweet by the media tycoon, he went undercover for a true Scots experience. We’re [...]
Popcorn maker to bubble up in China September 14, 2014 What started out as a kitchen cookery experiment by a 52-year-old retiree has just morphed into China’s next big snack trend. Joe & Seph’s, a gourmet popcorn maker founded by Joseph Sopher, has just signed a deal to be sold in supermarkets throughout Beijing and Shanghai. No word on cinemas yet though.
UK footfall takes a hit in August despite rebound in retail sales September 14, 2014 FEWER shoppers visited shopping centres and high streets in August, even as retail spending rebounded, new figures show. The British Retail Consortium (BRC) and Springboard revealed this morning that footfall dropped by 1.1 per cent in August compared with the same time last year. This was greater than the 0.6 per cent fall in July [...]
Dr Martens profits take big stride forward September 14, 2014 BRITISH footwear brand Dr Martens has posted a leap in sales and profits in its first year since being bought out by private equity firm Permira. Revenues rose by 30 per cent to £209m in the year to March, as the retailer increased the number of shops from 13 to 41 across the US, Europe [...]
Photobox boss Stan Laurent: The man driving Moonpig’s growth story September 14, 2014 By the end of April, it became clear to Stan Laurent that London’s doors were effectively closed to new consumer-facing internet companies. There had just been the perfect storm of disastrous market debuts from Just Eat and AO World, along with two profit warnings from Asos that triggered a sell-off in shares of fellow fashion [...]
City Moves for 15 September 2014 | Who’s switching jobs September 14, 2014 Linklaters Stuart Bedford has been appointed London head of corporate at the law firm. Previously head of Linklaters’ corporate practice in Asia, he has a background in private and public mergers and acquisitions, joint ventures and capital raisings. Bedford succeeds Sarah Wiggins. Lend Lease The property and infrastructure group has appointed Rob Heasman as project [...]