Bottom Line: Chinese ambition trumps a market return March 31, 2014 ALMOST 25 years ago, a Hong Kong retail tycoon called Dickson Poon stunned London by taking a chance on Harvey Nichols – a fading department store in dire need of a makeover. Poon was one of the first to spot a trend that now seems obvious; the Asian shopper’s thirst for designer labels that has [...]
UK leads the way with a surge in private equity dealmaking March 31, 2014 BRITAIN led the private equity dealmaking pack across Europe in the last quarter, with 40 per cent of buyout values coming from UK buyers, a study out today claims. The UK’s market share is eight per cent higher than it was last year, underscoring the growing strength and stronger sentiment of the British economy. In [...]
London bounce for new listings on stock debuts March 31, 2014 NEWLY listed shares in London outperform the wider market by 10.5 per cent in the first year according to a new study, sharpening the investment potential of the current crop of firms seeking a listing. Newly listed shares, sold through initial public offerings (IPOs), also outperform their more established rivals over the first six months [...]
Motorola nabs more phone sales March 31, 2014 MOTOROLA, the smartphone firm that Lenovo is taking over, has seen its UK sales explode following the launch of the low-cost Moto G in November. Currently owned by Google, Motorola had a mere 0.9 per cent share of UK smartphone sales in September, but has now grown to six per cent, according to figures from [...]
Most Britons have not learnt the lessons from the winter floods March 31, 2014 ALMOST two thirds of Britons do not have or don’t know if they have flood insurance for their homes, according to new research. Hundreds of homes across the country were wrecked by flood damage due to the extreme weather in December and the early months of this year. Yet according to a survey commissioned by [...]
EU lenders cut back to boost performance in stress tests March 31, 2014 BANK lending will not rise as fast as hoped this year as cautious European institutions cut back in risky lending, EY forecast today. The Eurozone lenders, facing an asset quality review (AQR) and stress test, are being careful with their lending to make sure their balance sheets appear in good shape. EY expects lending will [...]
Racing City heads make waves over at the Royal Victoria Dock March 31, 2014 THE FOUNDER of foreign exchange consultancy IFX, Nick Williams, has just enjoyed a triumphant weekend down by Canary Wharf – although his success had little to do with currency fluctuations. Williams and his navigator, RSA risk consultant Martin Robinson, raced his IFX P1 powerboat to victory in the Royal Victoria Dock during a two-day event [...]
Twitter puts Old St in the mood March 31, 2014 COMMUTERS leaving Old Street station could soon have an early indicator of the mood in their office, thanks to a new installation revealed today. Property developer Helical and Crosstree have created The Mood Stream, a sizable 4 x 2.5 metre screen that will aggregate sentiment from tweets made in the area and change colour to [...]
Three things you didn’t know about… March 31, 2014 EY partner Maryam Hussain 1 She had a narrow escape when travelling from Madrid to Tehran in 1980. Her pilot landed 20 minutes early, meaning she was safely watching from the airport building as minutes later, the plane was bombed and destroyed in an Iraqi air force attack. 2 Three years ago, she took up [...]
PassivSystems aiming for £45m valuation on London’s market March 31, 2014 ENERGY monitoring firm PassivSystems is seeking to raise up to £12m on London’s Alternative Investment Market (Aim) as part of its plans to hire more sales staff and speed up the launch of new products. The Berkshire-based firm, which provides software for homeowners to manage solar panels and household heating systems, is seeking a valuation [...]