RAC drives on with Rake amid flotation boom August 31, 2014 RAC has appointed CBI president Sir Michael Rake as its chairman today, as the major UK roadside breakdown recovery and car insurance firm considers whether to go ahead with a potential float this month, with the possibility of a retail offering. Rake has a wealth of board experience, also currently serving as chairman of major [...]
UK companies want to remain in the EU but with more decision making in Westminster August 31, 2014 Most UK businesses want Britain to remain in the European Union, but with greater powers awarded to Westminster, a survey revealed yesterday, as Prime Minister David Cameron won crucial support to increase his say in Brussels. A British Chamber of Commerce (BCC) survey of 3,200 firms found 60 per cent believe staying in the EU, [...]
Adtech firm Crossrider preparing to raise $75m in London listing August 31, 2014 CROSSRIDER, the advertising business owned by Israeli billionaire Teddy Sagi, is reportedly preparing for a London float that could value it at as much as $250m (£150m). The listing would be Sagi’s third in the last decade, having floated gambling software firm Playtech in 2006 and online payment processor SafeCharge earlier this year. Crossrider, whose [...]
BBC Trust go for Rona Fairhead – its first female chair August 31, 2014 Former Financial Times Group boss Rona Fairhead will become the new chairman of the BBC Trust, the government announced yesterday. Yesterday culture secretary Sajid Javid announced Fairhead was the preferred candidate to replace Lord Patten, who stepped down in May due to ill health after three turbulent years overseeing the broadcaster. Fairhead, 53 [...]
Conran feasts on profits from restaurant sale August 31, 2014 CONRAN Holdings, the design empire founded by Sir Terence Conran, has made a return to profit after selling its restaurant business last year. The company behind The Conran Shop and the design consultancy Conran & Partners, made a £6.4m profit from selling its 51 per cent stake in in D&D London, whose sites include Coq [...]
Blackstone in $500m North Sea investment in Siccar Point Energy August 31, 2014 Blackstone’s top Wall Street energy guru drove through his first major deal yesterday since sweeping into the UK, as the private equity group said it would lead a half billion dollar investment in a new oil explorer and producer focused on the North Sea, Mustafa Siddiqui made the recent move to London to lead Blackstone’s [...]
London IPOs: Second time round it’s a buyer’s market – Bottom Line August 31, 2014 And so it begins. The window for new listings on the London stock market unofficially opens again today after the summer lull and bankers will hope to rekindle the spirit that gripped the City earlier this year. But omens are not so good this time round. Things were different back then. Pent up demand from [...]
Apple mulling $400 price for its iWatch ahead of mystery launch August 31, 2014 Apple is reportedly considering a $400 (£240) price point for its upcoming wearable device due to be unveiled, along with two new iPhones, next Tuesday. Executives at the tech titan are said to be still finalising pricing for the so-called iWatch, which is not expected to go on sale until early 2015, according to tech [...]
Dave Lewis begins first day as Tesco boss August 31, 2014 Former Unilever executive Dave Lewis has taken up his role today as chief executive of Tesco – a month earlier than planned – after the troubled food retailer issued its second profit warning in six weeks on Friday. Tesco slashed its interim dividend by 75 per cent and said it would cut its capital expenditure [...]
City closes in on prime West End property values August 31, 2014 HOUSE values in the City of London are catching up with the West End, while Dockland prices are suffering because of oversupply, research shows. Analysis from high-end real estate agent Beauchamp Estates reveals the average price of new or second-hand properties in the City has climbed to £739,546 for the last 12 months, compared to [...]