Liontrust roars back into market June 19, 2014 Liontrust Asset Management yesterday gave a bullish outlook for growth at the company after doubling of pre-tax profits last year. The asset management firm, which returns to the FTSE All Share on Monday for the first time since 2008, said incoming pension saving changes and more scope to sell funds overseas meant it was well [...]
Gottex on the acquisition trail June 19, 2014 Hedge fund group Gottex Fund Management is targeting a $6.5bn (£3.8bn) boost to its assets, around half of which will come from acquisitions in Asia and the US, its chief executive said. EIM Group chief executive Joachim Gottschalk told Reuters he expected to announce a new deal in Asia within six months. “It’s the US [...]
Balfour Beatty in £184m contract for motorway upgrade June 19, 2014 Balfour Beatty yesterday announced it had been awarded a £184m contact to upgrade parts of the M60 and M62 motorways around Manchester, with the aim of increasing capacity, reducing congestion and shortening journey times. Under the contract, around 17 miles of the motorways will be upgraded, and the M60 between junctions 8 and 12 will [...]
Home repair work for Kier June 19, 2014 CONSTRUCTION company Kier yesterday secured a £140m maintenance contract with one of the largest housing associations in London and the east of England. The four-year deal with Genesis Housing Association covers 33,000 properties, and has an option to be extended for a further six years. Kier will carry out kitchen and bathroom replacements at the [...]
Stamp duty up over £900m in last 12 months June 19, 2014 THE ANNUAL total stamp duty bill has soared to £5.6bn in the year to March 2014, up by over £900m from £4.7bn for the previous year, as home buyers are increasingly being hit by the levy as house prices rise while stamp duty thresholds remain flat, according to research by Lloyds Bank. The increase means [...]
GE offers Alstom 50:50 alliance June 19, 2014 US GIANT General Electric yesterday proposed an alliance with French energy firm Alstom based on 50:50 joint ventures that would ringfence sensitive nuclear activities. It was the latest shot in a two-month-long tussle with Germany’s Siemens and Japan’s Mitsubishi Heavy Industries (MHI) for control of Alstom’s energy business. GE said it had signed a memorandum [...]
Darty to focus on core markets as it says profits and sales up June 19, 2014 Electrical goods retailer Darty yesterday announced a six per cent rise in pre-tax profits to €60m (£48m) for the last financial year, with like-for-like sales revenue up to €3.58bn, an increase of 1.7 per cent. Darty, listed in London but with most of its sales in France, is the third largest electrical goods retailer in [...]
Cinven plumps for public listing of Spire to help exit investment June 19, 2014 SPIRE Healthcare, the 38-hospital private healthcare business, is set to list on the London stock market after ditching plans for a trade sale of the business. The company is owned by private equity giant Cinven and has been working with advisers Bank of America Merrill Lynch and Morgan Stanley to plot a sale of group. [...]
Bond studio wins licence to grow June 19, 2014 Pinewood Studios, home to the most recent James Bond film Skyfall, has been granted permission to expand following an appeal. The site will now double in size at a cost of £200m. New streetscapes form part of the 15-year plan for the site, where Star Wars Episode VII is currently being filmed.
NPower facing wrath of Ofgem over late billing June 19, 2014 BRITAIN’S energy regulator yesterday warned one of the country’s leading suppliers that it could be barred from telesales and hit by a £300m fine if it failed to resolve customer complaints over late bills. Regulator Ofgem started an investigation into NPower’s late billing of customers after 1.4m complaints were received last year. It warned that [...]