Cobham wins missile contract June 28, 2010 Defence technology group Cobham has been awarded a $17.4m contract from Raytheon Missile Systems for its Cobham Sensor Systems business to make microwave modules for use in ground-to-ground and air-to-ground missiles. Andy Humen, president of Cobham Sensor Systems, said: “This award is a further indication of the strong technical and business relationship that exists between [...]
Special projects win for Anglian June 28, 2010 Anglian Water has won a five-year special projects framework worth up to £90m from housebuilder Galliford Try’s water business in a joint venture with Imtech. The framework will include one-off large schemes such as biosolids treatment plants. Galliford Try chief executive Greg Fitzgerald said: “We are delighted to renew our longstanding relationship with Anglian Water, [...]
Theo Fennelllaunches into youth market June 28, 2010 BRITISH jeweller Theo Fennell – championed by celebrities like Elton John and Naomi Campbell – plans to launch a range of lower-price products to target younger customers, the firm said yesterday. The new range of silver jewellery, to be priced between £70 and £2,000, is part of the company’s turnaround plan. Theo Fennell made a [...]
CAPELLO TAKES OVER THE REINS AT LIBERTY June 28, 2010 A FORMER investment banker will be the new head of Liberty department store. Marco Capello leads the private equity team that yesterday finalised its £32m deal for the historic Regent Street store. BlueGem Capital Partners, run by former Merrill Lynch bankers, said it would “continue to revive this utterly unique British brand”. Capello said: “Liberty [...]
FSA lists new retail adviser standards June 28, 2010 THE FINANCIAL Services Authority (FSA) has finalised a list of requirements retail investment advisers will need to meet before they can operate under the new Retail Distribution Review (RDR). Within the next three years, the FSA has proposed that investment advisers will have to hold a statement of professional standing, which confirms that the adviser [...]
SRG to raise £25m from IPO June 28, 2010 The owners of British coal miner Scottish Resources Group are seeking to bank more than £200m next month by selling stakes held for 16 years in an initial public (IPO) offer. The company is currently mostly owned by investment vehicles Parkburn and Palmaris Capital, who have held their stakes since 1994 when it was created [...]
UK tax rate on capital is the highest in EU June 28, 2010 THE UK has the highest tax on capital in Europe, at 45.9 per cent, according to new research by Eurostat. Our capital tax rates, measured at the height of the recession in 2008, were almost double the European average of 26.1 per cent. The lowest implicit tax rates on capital were recorded in Estonia (10.7 [...]
BEST OF THE BROKERS June 28, 2010 LADBROKES Numis said that there is plenty of opportunity for positive change at Ladbrokes and it believes the right jockey is in place to deliver it. Numis gives the bookie a “buy” rating and said that although the going will undoubtedly be tough, it is confident that the next six months will be characterised by [...]
Tesla offers more shares in flotation June 28, 2010 ELECTRIC carmaker Tesla Motors has raised the number of shares it will sell in its initial public offering by 20 per cent, an early sign that investor interest in the start-up is strong. The increase yesterday, a day before shares are expected to begin trading, brings the number of shares being offered to 13.3m from [...]
URS set to buy Scott Wilson June 28, 2010 US ENGINEERING firm URS said its unit agreed to buy British peer Scott Wilson Group for £161m in cash, while another US firm said it was considering a cash offer for the company. The 210p per share offer from URS’ unit Universe Bidco was at a premium of 76 per cent to Scott Wilson’s Friday [...]