Cement giants confirm mega-merger April 7, 2014 Cement giants Holcim and Lafarge have confirmed the details of a merger which could create a company with a combined market value of $50bn (£30bn). The deal will be structured as a public exchange offer initiated by Swiss company Holcim, with an exchange ratio of one Holcim share for one Lafarge share. They will also [...]
Falling tech shares hit Asian markets April 7, 2014 Asian markets have taken a hit from a combination of declining Japanese tech shares and a stronger yen. The fall in tech shares follows similar moves seen on Wall Street and comes ahead of e-commerce giant Alibaba's initial public offering, widely expected to be one of the biggest offerings ever seen. However, it is not [...]
Optimism grips London’s firms April 7, 2014 LONDON firms are at their most bullish in a quarter of a century, riding high as the UK’s economy recovery is buoyed by the capital, according to a major survey. The London Chambers of Commerce and Industry (LCCI) reveals today that 66 per cent of firms expect turnover to rise in the year ahead, the [...]
BlackRock to prepare firm for Fink exit April 7, 2014 BLACKROCK is set to reshuffle its senior staff as part of a long-term succession plan for its founder and chief executive Larry Fink. The world’s biggest asset manager, with $4.3 trillion (£2.6 trillion) under management, is shifting at least 10 senior executives in a bid to give younger staff added responsibilities. Fink, 61, has no [...]
The Olympic Park reopens to the public April 7, 2014 Visitors to Queen Elizabeth Olympic Park made a splash yesterday as the green space was opened to the public for the first time since the London 2012 Games. The east London park, which is the biggest to open in the capital for a century, features interactive water fountains and an adventure playground. Visitors can also [...]
Watchdog was warned by Bank over insurer debacle April 7, 2014 THE CITY regulator failed to respond to calls from the Bank of England to clarify details of a looming insurance probe that wiped billions of pounds off the sector last month, adding renewed pressure to under fire officials yesterday. Representatives from the Prudential Regulation Authority, a division of the central bank, contacted the Financial Conduct [...]
Pressure grows on Maria Miller in expenses row April 7, 2014 SUPPORT for the culture secretary Maria Miller was dwindling yesterday as critics from both inside and outside her political party spoke out against her expenses claims and the self-regulation that allowed them to happen. Labour called for a complete overhaul of the parliamentary standards committee, warning that it is not fit for purpose. Angela Eagle, [...]
Just 25pc will buy an annuity after shake-up April 7, 2014 THREE in four people will shun buying an annuity with their pension pot following chancellor George Osborne’s radical shake-up of the pension market, fresh research suggests. Just 25 per cent of pension savers polled by consultancy Hymans Robertson said they would use all of their lifetime savings to buy an annuity, which converts a pot [...]
What the other papers say this morning – 07 April 2014 April 7, 2014 FINANCIAL TIMES Ecclestone wants to regain grip on F1 Bernie Ecclestone has said he would like to regain control of F1 in partnership with leading teams such as Ferrari, even as he prepares to step back from the day-to-day running of the sport. Asked if he wanted to buy up stakes if they became available [...]
Cement makers ready to tackle antitrust rules April 7, 2014 A MEGA merger between the world’s two largest cement companies will most likely result in asset disposals to overcome competition concerns. On Friday, French company Lafarge, which owns British cement manufacturer Blue Circle Industries, and Swiss rival Holcim, said that they were in advanced talks over a possible deal, which would create a combined company [...]