Treasury must lift flood cash February 25, 2014 PRESSURE has been piled on the chancellor to boost spending on flood defences in his budget next month. The Institution of Civil Engineers (ICE) has called on the Treasury to return spending to the level it was in 2010, before cuts were made as part of the coalition’s spending review. Director general of the ICE, [...]
London’s Gotham City tower plans approved February 25, 2014 PLANS for a £400m office scheme nicknamed Gotham City have been granted planning permission by City planners, Henderson Global Investors confirmed yesterday. The 910,00 square feet development at 40 Leadenhall Street will range in height between seven and 34 office storeys and contain offices as well as shops on the ground floor.
Berenberg sees chance to seize UK market share February 25, 2014 BERENBERG Bank plans to expand its UK coverage, hiring more analysts to work on British firms and advising more clients in London, after posting record profits yesterday. After expanding its service to more companies, the equities specialist expects to win more mandates and work on more transactions. The private bank believes it can shake up the [...]
Accountants up pay to keep resigning staff February 25, 2014 ACCOUNTANCY firms are splashing out on bigger counter-offers to try and tempt staff to stick with their current jobs, though the tactic rarely works, a poll out yesterday showed. One in three accountants who resign are offered a better deal by their current employer, with an average raise of 20 per cent of their salaries [...]
Tesla shares surge upwards after positive view of battery factory February 25, 2014 THE SHARE price of electric car firm Tesla shot up by over 15 per cent yesterday, following a glowing note from a Morgan Stanley analyst who more than doubled his target price for the company. The enthusiastic assessment came from Adam Jonas, who said Tesla’s plans for a huge plant to manufacture the lithium batteries [...]
BooHoo to IPO with ex-Asos boss at helm February 25, 2014 ONLINE fashion retailer BooHoo.com has appointed Peter Williams as chairman ahead of its IPO which is expected in early March. Williams is a former director of rival fashion site Asos, which floated ten years ago and is currently worth around £6bn. He is a stellar hire for the group and widely hailed as one of [...]
De La Rue chief moves to UBM in shock departure February 25, 2014 THE CHIEF executive of bank note printer De La Rue is stepping down to take up the top role at media giant UBM, the two firms said yesterday. Tim Cobbold will leave the FTSE 250 firm on 29 March, to join UBM – a company in a different sector and twice the size by market [...]
Former IG boss Nat le Roux ups his stake in Scottish mining firm February 25, 2014 NAT LE Roux, the former chief executive of City spread betting firm IG, is ramping up his stake in Scotgold Resources alongside two other strategic investors, so the firm can raise A$1.83m (£1m). Scotgold Resources is looking to develop Scotland’s first commercial gold mine but has struggled to raise financing for the project and is [...]
McColl’s valued at £200m ahead of market debut February 25, 2014 SHARES in McColl’s fell on its first day of conditional trading yesterday as investors gave the convenience store group a subdued reception ahead its full market debut next week. The retailer, which owns 1,276 newsagents and convenience stores, set its share listing offer price at 191p per share yesterday, valuing the company at £200m. However, [...]
Investors from US help ignite Kennedy Wilson February 25, 2014 SHARES in Kennedy Wilson Europe, part of a Beverley Hills-based property group that has raised £1.1bn to invest in European properties, got off to a strong start in London yesterday. Earlier this month the group said it planned to raise between £500m and £750m from investors but decided to go for over £1bn in order [...]