Bwin.party executives play their cards right for winning pay deal February 24, 2014 BWIN.PARTY shareholders yesterday voted in a new pay scheme offering top executives at the online gaming group up to 550 per cent of their annual salary. At an extraordinary general meeting (EGM) in Gibraltar, some 70 per cent of voters waved the new deal through, but a significant 30 per cent objected. The new incentive [...]
Soaring number of low deposit mortgage deals February 24, 2014 NEW FIGURES released this morning suggest that the number of products for the highest loan-to-value (LTV) mortgages has tripled since the surprise launch of the second phase of Help to Buy in October. The number of products available for buyers with only a five per cent deposit has soared from 43 to 132 in less [...]
Plans for a new tower at Vauxhall February 24, 2014 MCLAREN Property and Citygrove have submitted plans to build a 50-storey tower in Vauxhall, joining a string of developers adding to the skyline on London’s south bank. The developers lodged plans with Lambeth Council yesterday for the mix-used scheme at 69-71 Bondway comprising of 450 flats, shops and offices. The scheme, known as New Bondway [...]
Hiscox shores up flood reserves as earnings rise February 24, 2014 SPECIALIST insurer Hiscox yesterday revealed a 12.4 per cent jump in annual pre-tax profit to £244.5m, as the glut of hurricane and catastrophe claims seen in 2012 did not repeat itself. Chief executive Bronek Masojada said it had been “a very good year” for the London-listed group. “We are excited about the opportunities we see [...]
Analyst Views: What do you make of Hiscox’s results? Is there any cause for concern? February 24, 2014 NICK JOHNSON | NUMIS This is another strong result from Hiscox, with ongoing progress in building the group’s retail business on a number of fronts. The company says that the second year with special dividends should not be seen as a pattern, given that it is working hard to deploy capital in value creating sectors. [...]
Hedgie scores stake in Rangers after offering up £1m in loans February 24, 2014 HEDGE fund Laxey Partners yesterday moved to consolidate its control of Glasgow’s Rangers Football Club after contributing to a £1.5m loan, which it can turn into shares in the club. The $2bn activist investor, which is already Rangers’ biggest shareholder with an 11.64 per cent stake, has lined up alongside the club’s director Sandy Easdale [...]
Heathrow back in black as fees for airlines rise February 24, 2014 HEATHROW swung to a profit of £426m last year, helped by the sale of Stansted and rising charges. Europe’s busiest airport by passenger traffic posted an 11.3 per cent rise in revenues to almost £2.5bn, and reversing last year’s pre-tax loss of £33m. Aeronautical income, generated by charging airlines to use the airport, rose 19 [...]
London Assembly warns of the forgotten green impact of HS2 February 24, 2014 THE PLANS to build the first leg of the High Speed 2 railway ignore many effects on Londoners’ health and well-being, the London Assembly said yesterday. Extra noise, lost green space and air pollution kicked off with a decade of construction work should be included in the government’s cost-benefit sums, it added. The Assembly was [...]
Aer Lingus hopes new flights to America will boost its earnings February 24, 2014 AER LINGUS hopes growing demand for its long-haul links between Ireland and North America will push earnings higher this year, after the firm posted a 2.2 per cent slide in pre-tax profits to €39.5m (£32.6m) for 2013. The airline said a sweltering summer had kept some passengers at home, hitting traffic particularly on its short-haul [...]
M&G adds muscle to Bannatyne’s Health Clubs with new £92m deal February 24, 2014 THE BANNATYNE Group has agreed a £92m deal with M&G Investments for the sale and leaseback of the ground leases of 39 Bannatyne’s Health Clubs. The cash injection will free the Bannatyne Group from millions of pounds of bank debt and allow it to clear its loans with the failed Anglo Irish Bank. Entrepreneur and [...]