Acquisitions are back on the agenda this year March 14, 2010 M&A teams in investment banks all over London must be salivating at the prospect of a wave of new deals. Acquisitions are back on the agenda. In many ways it makes sense. Last year many companies re-trenched, rebuilt their balance sheets and hoped for the best. They have been hoarding cash but now wonder if [...]
Matrix expands in Middle East March 14, 2010 MATRIX, the UK privately owned financial services business, has opened up a new Middle Eastern arm to take advantage of new investment opportunities in the region. The company has also signed a joint venture agreement with ME Alignment, a Qatar based real estate development and investment company owned by members of Al Attiya Family, the [...]
Chinese: leave currency alone March 14, 2010 CHINESE premier Wen Jiabao has insisted the renminbi is not undervalued and warned other countries’ insistence the currency policy should be changed amounts to protectionism. Wen said yesterday that China would continue to reform its currency system but rebelled against pressure to change the exchange rate. “The Chinese currency is not undervalued,” he said, speaking [...]
Richemont in £350m bid for Net-a-Porter March 14, 2010 ONLINE fashion outlet Net-a-Porter is understood to be on the verge of being bought out by Richemont, the Swiss luxury goods group. Richemont, which already owns 29 per cent of the clothing boutique, is reported to be in advanced discussions to acquire the remaining 71 per cent in a deal which would value Net-a-Porter at [...]
Brussels rule jeopardises South African gains March 14, 2010 WE BRITS suffer from a sort of “oscillating Channel syndrome” when it comes to our place in the community of northern (and now wider) Europe. In our isolationist moods we see those 34 sea kilometres to Calais as a handy barrier. But as pragmatic traders we have known for millennia that the Continent’s shallow sea [...]
Blockbuster puts Euro arm up for sale March 14, 2010 FILM rental chain Blockbuster has put its European arm up for sale, it emerged yesterday. The indebted US company wants to sell its European division, which it values at about £50m, to raise cash, a report said. Blockbuster has hired corporate finance house Winchester Capital to find a buyer for the European arm, which has [...]
BEST OF THE BROKERS March 14, 2010 HOME RETAIL GROUP Charles Stanley said the group’s fourth quarter trading update covering the eight weeks to 27 February was mixed. Trading was impacted by poor weather in January, but the impact on profits has been limited as the period is traditionally a low volume one. The broker remains cautious especially over the growing threat [...]
CITY MOVES | WHO’S SWITCHING JOBS March 14, 2010 Coutts Private Office Rupert Allison has joined Coutts Private Office as senior client partner from after three years with HSBC private bank as a relationship manager/ director. At Coutts, Allison will advise high-net-worth individuals whose assets top £30m and will report to global head of Coutts private office, Duncan McIntyre. Allison also spent 15 years [...]
Cannes awaits property fest March 14, 2010 THIS week sees the heavyweights of the property world embark on their annual pilgrimage to Cannes for MIPIM, Europe’s largest property fair. The four day event – known for its yachts and late night parties – is likely to be more upbeat than last year when the property market was still in the midst of [...]
Plus markets to launch fixed income securities products March 14, 2010 PLUS markets, the retail-focused small and mid-cap stock exchange, will launch trade reporting for fixed income securities following calls for the product from private investors. The move is meant to give retail investors a cost effective way to access fixed income securities such as UK gilts and corporate bonds. Rachel Maguire, Business Development Director at [...]