City law firm Rosenblatt mulling a London IPO March 6, 2018 City law firm Rosenblatt is understood to be contemplating an IPO on the London Stock Exchange. The commercial firm had a reported revenue of £16m in 2017 and advises clients on areas such as corporate, disputes and finance. It was founded in 1986 by current senior partner Ian Rosenblatt who received an OBE for services [...]
Royal Mail reveals it pays female posties more than men March 6, 2018 Royal Mail pays female workers more than their male counterparts, according to figures lodged with the government. Gender pay gap data revealed mean hourly pay is 2.1 per cent higher for women. In addition, female bonus payments were 9.1 per cent greater than those handed to men. Women occupy a greater number of the Royal [...]
Trade war looms as EU readies retaliation on bourbon and Levi jeans over US’ steel and alumnium tariff move March 5, 2018 Fears are growing of a looming global trade war as the European Union has warned of impending retaliatory measures, following Donald Trump's unilateral decision to impose tariffs on steel and aluminium imports. The US President last week moved to unilaterally impose levies of 25 per cent on steel products and 10 per cent on aluminium, [...]
Done deal: Tesco completes £3.7bn acquisition of Booker Group March 5, 2018 Tesco today completed its acquisition of Booker Group, creating the leading food group in the UK. The £3.7bn deal was given court approval on Friday after shareholders voted it through last week. Booker Group's shares have been de-listed from the London Stock Exchange. Each share has been exchanged for 42.5p in cash, and 0.861 new [...]
DEBATE: Is there any justification for Trump’s decision to impose tariffs on steel imports? March 5, 2018 Is there any justification for Donald Trump’s decision to impose tariffs on steel imports? David Vance, a political commentator, says YES. The decision by President Trump to impose a 25 per cent tariff on imported steel is both reasonable and timely. The US steel industry has been decimated over several decades, not least from 2001 [...]
The UK’s “largest Apple reseller” Jigsaw24 rakes in more than three-times money invested as private equity owner sells up March 5, 2018 Jigsaw24, the UK's "largest Apple reseller" according to the company, has raked in a return of 3.1 times money invested for its private equity owners. The business, which also provides IT and consultancy services, has been sold by NorthEdge to fellow private equity firm Alcuin Capital Partners. Jigsaw24, which counts names such as Barclays, Disney [...]
Equitable Life plans to offer millions to policyholders ahead of potential sale March 4, 2018 Equitable Life is set to offer policyholders millions as part of a plan to restructure and sell the 256-year old insurance group. The 300,000 policyholders could receive a windfall of several thousand pounds each under a plan to restructure and sell the group. A circular set to be sent to members is expected to spell [...]
Trouble in store for House of Fraser as credit insurer pulls cover March 4, 2018 A credit insurer has pulled cover on House of Fraser, underscoring the difficulties faced by the department store following a disappointing set of Christmas figures. A spokesperson for House of Fraser said 20 of the business' 650 suppliers were affected by the credit insurer's decision. Those suppliers will now have to find new insurance, or [...]
Pub group Hawthorn Leisure to attract interest from competitors as private equity owner calls closing time on investment March 4, 2018 The 300-strong UK pub group Hawthorn Leisure is up for sale, according to industry sources, as its private equity owner looks to pass the group on. The young pub group, which was founded in 2014 by former Merrill Lynch banker Noah Bulkin with funding from Avenue Capital, is in the early stages of a process [...]
Top academics pour scorn on Treasury studies on Brexit impact March 4, 2018 A group of senior academics have lambasted the Treasury’s negative reports into how Brexit will affect the economy. A new paper by the Centre for Business Research, Judge Business School and University of Cambridge predicts that Brexit will “only have a small negative impact on economic growth over the coming years” and a minor impact [...]