Troubles at Steinhoff prompt private equity bidders Advent, Apax, Bain, CD&R, CVC and KKR to circle Poundland January 21, 2018 Speculation over the future of Poundland has attracted a pack of prospective private equity bidders ready to snap up the discount retailer. Buyout giants including Advent International, Bain, Clayton Dubilier & Rice, CVC and KKR are sniffing around the company in the expectation that it might soon be sold by its disgraced South African parent [...]
Centre for Policy Studies blasts Labour’s nationalisation vow as a “£176bn gamble” January 21, 2018 Labour’s plans to nationalise core industries would add at least £176bn to the UK’s national debt, the equivalent of £6,500 per household, a new study suggests. According to the free-market Centre for Policy Studies (CPS), nationalising the energy and water sectors would cost £55.4bn and £86.25bn respectively, while the price tag attached to bringing Royal [...]
National security concerns prompt government to scrutinise Melrose’s hostile £7.4bn bid for GKN January 21, 2018 National security concerns mean turnaround firm Melrose will now have to jump another hurdle if it is to proceed with its £7.4bn bid for engineering giant GKN, as the government revealed that it is scrutinising any potential deal. Melrose was already battling with GKN’s board as the bid went hostile, and has been attempting to [...]
UK Prime Minister Theresa May warned over knee-jerk executive pay reform after Carillion collapse January 21, 2018 Theresa May was warned today not to make knee-jerk reforms to executive pay following the collapse of Carillion. The Prime Minister has vowed to introduce “tough new rules” on pensions after the contractors collapsed leaving a multimillion pound deficit. She also said top bosses could face fines if they fail to protect workers’ pensions. However, [...]
A tale of two economies: Data to show slower UK GDP growth as European Central Bank acknowledges Eurozone boom January 21, 2018 Economists expect new government data this week to show UK growth slowed down last year, as the European Central Bank (ECB) adjusts to a Eurozone pulling further away in a tale of two economies. Forecasts collected by the Treasury show independent economists expect GDP growth to hit 1.7 per cent for 2017 overall in figures [...]
The US government has gone into shutdown after Senate stonewalls spending bill January 20, 2018 The US government has begun a shutdown after a midnight deadline on Friday was missed to agree on a new budget. Last minute meetings could not ease the stalemate, so the bill to fund the government until 16 February did not meet the necessary 60 votes, with Republicans and Democrats split on critical issues. Just [...]
Opinion: London is a hub for superstar musicians, but they’re all have very different needs when it comes to choosing a place to live January 19, 2018 It’s said there’s no business like show business and with the top 10 musicians taking $278m in tour revenues between them in 2016, the numbers speak for themselves. London is a key destination on the international touring scene. Money generated by live music in the capital exceeded £1bn for the first time in 2016, in [...]
Property of the week: Pepys House in Southwark sits on the site of a 17th century bear pit and it’s on sale for £3.5m January 19, 2018 The City workers of 2018 may be halfway through Veganuary, but their 17th century counterparts were far less concerned about animal cruelty. This house behind the Globe Theatre on the Southbank bears testament to a pastime that was once just as popular with Tudor monarchs as ordinary Londoners. The property on Park Street, in between [...]
Should Everton signing Theo Walcott be considered Arsenal’s first Emirates Stadium-era great? January 19, 2018 In a poll to rank Arsenal’s 50 greatest ever players conducted by the club a decade ago, 12 of the top 20 slots were filled by forwards, wingers or attacking midfielders. From Thierry Henry at No1 to Ray Parlour at No19, supporters’ embrace of the adventurous was demonstrated in many of the names cherished most [...]
Davos 2018: Donald Trump is only the sixth-richest person speaking at the WEF this year January 19, 2018 When he becomes the first US president to attend Davos in 18 years next week, it seems Donald Trump will only be the sixth-richest speaker there: his wealth is outstripped by several World Economic Forum (WEF) regulars, new research suggests. The research, by Verdict.co.uk and WealthInsight, found that with a cool $72.7bn to his name, [...]