UK’s tech giant avoids growing fears of bubble June 5, 2014 APRIL’S worldwide tech sell-off – which knocked off 3.1 per cent of the Nasdaq index in a single day, its biggest one-day decline since 2011 – was the forerunner to a wider tech stock bubble bursting, an investment bank said yesterday. Berenberg yesterday warned that Samsung’s smartphone growth is peaking, Apple’s success in tablets is [...]
AA speeds up plans for a £4bn London float despite Saga flop June 5, 2014 BRITAIN’S biggest car insurer and roadside recovery firm, the AA, is reportedly set to push on with plans for float that will value the company at around £4bn. The listing will be part of a process known as an accelerated initial public offering by parent company Acromas, which could be announced today according to Sky [...]
Veterans mark 70th D-Day anniversary June 5, 2014 Hundreds of the last surviving D-Day veterans and world leaders, including Queen Elizabeth II, David Cameron, Barack Obama, Vladimir Putin and Francois Hollande have gathered in Normandy to mark the 70th anniversary of the landings. Among the veterans event was Jock Hutton, 89, who repeated the parachute jump he made 70 years ago.
Activist ups its stakes in bid to sue Lloyds Bank June 5, 2014 ACTIVIST investor Crystal Amber will reportedly up its stake in NBNK Investments, the vehicle which lost out during the auction of Lloyds Bank’s 630 branches in 2012, in a move to pursue legal action against the bank. NBNK has lined up law firm Stewarts Law to take legal action against Lloyds, which chose the Co-operative [...]
Scottish independence: Obama urges voters to say no – and tells the UK to stay in EU June 5, 2014 BRITAIN would be stronger if it remains united than if Scotland votes to leave in the summer referendum, US President Barack Obama said yesterday. In a joint press conference with David Cameron, Obama also urged Britain to stay in the EU. “We must make sure the UK stays united,” Obama said, while making clear it was a [...]
Plunge in staff availability as UK jobs surge June 5, 2014 THE RAPID recovery in the UK’s labour market still shows no signs of slowing down, according to a new report, with the availability of permanent employees dropping at the fastest rate in 17 years. The latest research on jobs conducted by the Recruitment and Employment Confederation (REC) and KPMG indicates the fastest drop in availability [...]
Suitors line up for Bonhams as outfit goes under the hammer June 5, 2014 A HANDFUL of private equity suitors have submitted first round bids for 220-year-old British auction house Bonhams, after the firm opted for a sale over a stock market float. Up to six firms are understood to have submitted bids for the company, including offers from the UK arm Mitt Romney-founded Bain Capital, as well as [...]
Twitter buys ad specialist Namo Media June 5, 2014 TWITTER has acquired Namo Media, a mobile advertising firm, in a move to bolster its revenues in the face of growing investor unease surrounding its growth prospects. Terms of the deal were not disclosed, but Namo Media said in a blog post that its technology would be rolled into MoPub, the ad serving platform that [...]
Bottom Line: Everyone loves a sale – and Asos shares are in middle of a big one June 5, 2014 ALMOST every other day, Asos customers are sent promo emails alerting them to the latest offer on the retailer’s vast fashion website: 25 per cent off dresses; save on festival fashion; free delivery on men’s hats. Yesterday, the tables were turned. Investors hit the sell button on Asos shares, sending them into freefall to end [...]
Game on track for £360m float as book covered June 5, 2014 HIGH street video game retailer Game will push the button on an initial public offering in the coming days with its book covered by predominantly long only institutions. Shares are expected to be priced between 200p and 212p giving the firm an initial market valuation somewhere between £340m and £360m post the £20m that will [...]