Index Ventures and North West Fund head the list of top 10 technology investors in Britain August 18, 2014 Venture capital (VC) funds Index Ventures and North West Fund topped a list of the most active venture investors in UK-based tech firms since 2009, according to data from CB Insights. Index’s recent UK investments include a $65m (£38.8m) funding round for Funding Circle, the peer to peer lending service, in July and a [...]
Britain on track to spend more than £100bn online this year August 18, 2014 A surge in the number of Britons booking their next holiday abroad helped online retail sales bounce back in July after a disappointing first half of the year. Consumers spent an estimated £8.1bn online in July, a 14 per cent jump on the same month last year, according to figures published yesterday by e-tail industry [...]
Kennedy Wilson buys Fairmont St Andrews August 18, 2014 Kennedy Wilson Europe Real Estate, the US-managed property fund that raised £1bn through a London float earlier this year, has snapped up a luxury 520-acre golf resort in St Andrews, Scotland for £32.4m. Kennedy Wilson confirmed yesterday that it had bought the Fairmont St Andrews hotel, previously owned by private equity firm Ares Management.
Rio Tinto looks to review stake in closed mine August 18, 2014 A MINE in Papua New Guinea owned by Rio Tinto that has been closed for a quarter of a century following a violent uprising in the country is under review, as the massive mining company considers its options for the site with the possibility of a sale. The review into Bougainville Copper Limited (BCL), the [...]
Mercedes-Benz found guilty of price fixing by Chinese regulator August 18, 2014 Mercedes-Benz has taken a hit to its activities in China after anti-monopoly authorities in the country judged the luxury car maker to be guilty of overcharging Chinese consumers for spare parts. The Jiangsu province price bureau found evidence of anti-competitive practices after raiding Mercedes-Benz dealerships in the eastern coastal province and an office in neighbouring [...]
Apache makes major oil find August 18, 2014 A MAJOR find of up to 300m barrels of oil off the coast of Australia was announced yesterday by US based oil company Apache Corporation, representing potentially one of the biggest oil discoveries there in around 30 years. The positive drilling results announced came from the Phoenix South-1 well in Western Australia’s offshore Canning Basin, [...]
WS Atkins share price rises on sale of Polish business to Multiconsult August 18, 2014 The share price of WS Atkins was boosted yesterday after the engineering, design and project management company announced it would sell its Polish business to Norwegian consultancy and design business Multiconsult AS. The deal will see WS Atkins’ Polish business sold for a cash consideration of €3.5m (£2.8m), with the deal expected to be completed [...]
Kea Petroleum share price tanks after New Zealand mine plugged and left August 18, 2014 Oil and gas explorer Kea Petroleum’s shares plummeted over 66 per cent in one day, following an announcement that it would plug and abandon its Puka-3 well after poor results from drilling conducted at the site. The Aim-listed company, which focuses on New Zealand and has three oil exploration permits in the Taranaki Basin of [...]
City Moves for 19 August 2014 | Who’s switching jobs August 18, 2014 Turner & Townsend The programme management and construction consultancy has appointed Martin Greenhalf as director in its commercial development project management team. He joins from Sweett Group, where he was a director of project management. TSB Bank David Fenton has been appointed chief economist at the bank. He joins from RBS, where he was most [...]
Best of the Brokers for 19 August 2014 August 18, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com ARM HOLDINGS Goldman Sachs has added ARM to its “conviction buy” list, with a target price of 1,400p. The broker thinks first half weakness is temporary rather than structural, and anticipates a better second half, with high end smartphone launches incorporating ARM designs [...]