War, what is it good for? Bull runs on stocks May 20, 2014 THE CHANCE of war this May is a signal to buy stocks, according to a note from Bank of America Merrill Lynch. Stocks have historically declined in the run-up to conflicts, but then “rally hard once war commences”. Michael Hartnett, chief investment strategist at BAML, points to World War II stock movements to make his [...]
Barracks plans get green light May 20, 2014 DEVELOPERS have been given the green light for the stage one redevelopment plans of Chelsea Barracks. Westminster Council unanimously passed Project Blue’s plans last night and praised the quality of the design. The successful submission comprises three eight-storey buildings with 74 luxury properties for private sale, designed by architects Squire and Partners. Work on the [...]
Sporting Index set to be sold May 20, 2014 SPREAD-BETTING operator Sporting Index is set to be sold later this year, according to Sky News. The timing of the deal is said to coordinate with the World Cup, which begins next month. Sporting Index, the world’s largest sports spread-betting firm, is owned by HG Capital, a London-based private equity firm that has appointed Dean [...]
Brand Index: Voters in the UK and Europe are in the mood for change May 20, 2014 THIS WEEK’S European elections are seen in the UK as testing the political waters ahead of next year’s general election and showcasing arguments for and against the European Union. But how do the opinions of British voters compare with those across the continent? To find out, we conducted focus groups and polling in Great Britain, [...]
Handy business tips from Terra Firma’s top Guy May 20, 2014 GUY HANDS gave his first speech in London for five years at the Institute of Directors yesterday, as part of Private Equity International’s Operating Partners Forum. In case you missed it, here are our four gems of wisdom – inspired by the financier’s latest musings. 1. Don’t bother changing your suits “Over the last five [...]
Bell Pottinger pulls the crowds at its annual summertime soiree May 20, 2014 HOT ON the heels of the Chelsea preview night, Bell Pottinger yesterday threw another City shindig, pulling Centrica’s Sam Laidlaw and hedge fund legend Sir Michael Hintze back onto the tiles for the second night in a row (although they both shot off early to catch up on beauty sleep). Communications coach to the great [...]
Cobham to buy US firm Aeroflex in £869m deal May 20, 2014 DEFENCE and aerospace contractor Cobham yesterday said it has agreed to buy US communications equipment maker Aeroflex for $1.46bn (£869m), in its biggest deal to date. The FTSE 250-listed firm is looking to expand its presence in commercial markets, where Aeroflex generates 70 per cent of its revenues, as governments on both sides of the [...]
Carlson sells TGI Fridays to a pair of US private equity companies May 20, 2014 TGI FRIDAYS is being sold to a pair of buyout companies after 39 years as part of leisure chain Carlson, the firm announced yesterday. The restaurant chain, with more than 900 outlets around the world, will be taken over by Sentinel Capital Partners and TriArtisan Capital Partners. The terms of the purchase were not disclosed, [...]
EU vote fears lift peripheral bond yields May 20, 2014 WORRIES over the outcome of this week’s pan-European elections have driven up the yield on debt from peripheral EU countries, with investors wanting higher premiums to hold onto Spanish, Italian and Portuguese bonds. The spread between the bonds of debt-troubled governments and German bunds have grown to two-month highs on fears that elections could lead [...]
London Stock Exchange in exclusive talks to take over Russell May 20, 2014 THE LONDON Stock Exchange confirmed yesterday that it is in exclusive talks to buy Russell Investments, the stock index and asset management unit of Northwestern Mutual Life Insurance. The purchase of Russell, the firm behind the Russell 1000 Global Index, would boost the LSE’s operations in the United States in a deal worth an estimated [...]