Odey joins illustrious group of investors backing biotech firm March 17, 2014 HEDGE fund guru Crispin Odey has added his name to a gilded list of investment royalty by taking a stake in biotech firm Circassia. Odey joins top fund veterans Neil Woodford, Sir Paul Ruddock and Paul Tudor Jones as a backer of the firm, which is developing a drug to make cat allergies a thing [...]
Cafe Rouge set to be offloaded to Apollo funds March 17, 2014 VULTURE fund Apollo Global Management is on the verge of wresting control of the struggling owner behind popular restaurant brands Cafe Rouge and Strada. Apollo, which buys the loans of struggling firms, has snapped up a substantial portion of the debt in the restaurant’s parent company Tragus Group, which is owned by Blackstone. The purchase [...]
London town hall pension fund sells all its UK government debt March 17, 2014 LONDON’S biggest council pension fund boosted its investment returns last year after selling its entire holdings of UK government debt, its chair said yesterday. The London Pension Funds Authority sold about £1bn of gilts in March 2013 last year, making it one of the few town hall funds holding zero UK government debt. But its [...]
Supply shortfall driving London housing market March 17, 2014 EACH property on the London market is chased by 13 buyers, according to shocking new figures that show the strength of demand in the capital. According to estate agents Barnard Marcus, the number of buyers has surged by 25 per cent in the past year, and the number of transactions is up 20 per cent [...]
Manufacturers expect sector to grow faster than the rest of UK March 17, 2014 A STRONG start to the year for British manufacturers means the sector is on track to outstrip the economy generally this year, according to a major industry group’s most recent survey. The outlook for orders in the UK’s factories is buoyant, with 30 per cent more firms expecting an increase in UK transactions and 33 [...]
January boost in retail footfall reversed by February’s decline March 17, 2014 RETAIL footfall slumped again in February after a stronger start to 2014, according to the British Retail Consortium (BRC) and Springboard. Traffic fell by 2.9 per cent in the year to February, more than reversing the 1.6 per cent increase recorded in January. High street stores were the biggest losers last month, with a 5.3 [...]
MPs want more data to be open to the public March 17, 2014 PUBLIC data gathered by the government should be made public whenever possible in the name of transparency, MPs said today. Data sets such as the Postcode Address File that was privatised along with the Royal Mail should be considered a national asset and made freely available, the House of Commons public administration select committee (PASC) [...]
Bank guidance gets thumbs up as more firms predict rate hikes March 17, 2014 NEARLY 40 per cent of firms expect an interest rate hike in the next year, and the Bank of England’s forward guidance policy has helped to lift confidence in the economic recovery, according to Markit. A survey from the data firm shows that 39 per cent of firms expect a rate hike in the next [...]
From fast food to fasting: Osborne’s austerity diet March 17, 2014 LAST year his Budget preparations included a calorie-stacked Byron burger, wolfed down with a side of chips. But Chancellor George Osborne is unlikely to be chomping on fast food as he prepares for Wednesday’s big speech. Proving he has a head for figures – not least his own – Osborne last month took up the [...]
Dr Who to face ultimate terror: a baddie banker March 17, 2014 AFTER battling the galaxy’s most ruthless, evil and soulless creatures, what further terrors are there left for Dr Who to face? Stephen Moffat, the BBC series’ executive producer was clearly casting closer to home when he created the Time Lord’s newest nemesis: baddie banker Ms Delphox. Played by Line of Duty star Keeley Hawes, Delphox [...]