City offices at their fullest since the crash September 14, 2014 FIRMS are flooding back to London, driving occupancy rates in the square mile back up to their highest rate since the credit crunch struck, a study from TheCityUK shows today. Employment in the City has also hit a post-crash high, and the number of senior staff gaining permission to work in finance is also up. [...]
Microsoft set to disclose $2.5bn Minecraft deal September 14, 2014 Microsoft is expected to announce a $2.5bn (£1.5bn) takeover of Mojang, the Swedish video game developer with 100m players of its Minecraft game, as soon as today. The deal is aimed at pulling users on to the US software company’s mobile platform Windows Phone, which commands only around 2.5 per cent of the world’s smartphone [...]
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 [...]