Short-term could tip balance in favour of Melrose as GKN shareholders vote March 25, 2018 Melrose could seal a takeover deal for GKN by the end of the week, as short-term hedge funds tip the balance. Merger-arbitrage traders now hold the key to the outcome of Melrose’s hostile bid, as investors gear up to vote by Thursday. The short-term funds, which strategically buy up shares in takeover targets, now own [...]
Post-Weinstein can the legal sector change its secretive cover up culture March 25, 2018 In the less than six months since Ronan Farrow published his explosive New Yorker expose on movie mogul Harvey Weinstein, behaviour that would previously have been hushed up or talked about in whispers in the media and business world is now being exposed to the cold light of day. The legal sector is no different [...]
US President Donald Trump reportedly mulling expulsions of Russian diplomats after EU backed UK March 25, 2018 US President Donald Trump may expel dozens of Russian diplomats tomorrow in response to the chemical weapons attack on a former Russian spy living in Britain, according to US media reports. The White House’s National Security Council recommended the expulsions after 10 European nations swung behind the UK in condemning the apparent attempted murder in [...]
Barclays draws up contingency plans as it awaits the next move from activist investor Edward Bramson March 25, 2018 Barclays has drawn up contingency plans as it awaits the next move of activist private equity investor Edward Bramson, after the bank last week disclosed he had built a five per cent stake in the firm. The lender consulted Deutsche Bank and JP Morgan, its corporate brokers, after learning of the stake to discuss what [...]
Australian Grand Prix 2018: Lewis Hamilton blames Mercedes after team gaffe hands rival Sebastian Vettel win in season opener March 25, 2018 Dismayed Lewis Hamilton laid the blame squarely at the feet of his Mercedes team after their apparent miscalculation allowed his chief rival Sebastian Vettel to win the first race of the new Formula One season. Vettel capitalised on a virtual safety car period to overtake reigning champion Hamilton in the pit lane – a manoeuvre [...]
Online prescription service Pharmacy2U gains £40m private equity investment March 25, 2018 Britain’s biggest online pharmacy has raised £40m from investors including G Square Capital and the BGF. Pharmacy2U will use the money to fund the growth of its online repeat prescription service, as it tries to bring the same online disruption which has shaken the retail industry to the pharmacy sector. Former Boots manager Ted Smith [...]
Drinks giant AB InBev urges shareholders to support Conviviality March 25, 2018 AB InBev is urging shareholders of troubled drinks distributor Conviviality to support the business as it seeks out support from the City. Conviviality is under pressure after it discovered errors in its accounts and an unexpected tax bill of £30m. Management has now embarked upon an equity fundraise. Read more: Troubled Conviviality to raise funds [...]
RSA chief Stephen Hester receives nearly £5m pay packet after strong 2017 for the insurer March 25, 2018 The chief executive of RSA Stephen Hester will take home nearly £5m after a strong 2017 for the insurer which saw it achieve a record underwriting profit of £394m. On top of his salary of £987,000, the former Royal Bank of Scotland (RBS) boss received a £1m bonus, £2.6m as part of a long-term incentive [...]
Former Catalan leader Carles Puigdemont arrested in Germany March 25, 2018 Former Catalan leader Carles Puigdemont has been arrested in Germany today as he crossed the border into Denmark. Puigdemont fled Spain last year after his bid to declare Catalan as independent from Spain; he has since been living in exile in Belgium. He faces charges of rebellion, rioting, and misappropriation of public funds. Arrest warrants [...]
British Summer Time pioneer William Willett built Elsworthy House in Primrose Hill and it’s on sale for £15m March 25, 2018 You wouldn’t think it to step outside, but this Sunday is officially the start of British Summer Time. The clocks jump forward an hour on 25 March to give us all more time in the sun and it’s all down to the man who built this house in Primrose Hill. Elsworthy House, Primrose Hill, £15m [...]