GKN share price surges as it rejects a takeover offer and reveals it will split in two January 12, 2018 Shares in embattled engineer GKN jumped more than 20 per cent at the market open as the company rejected an unsolicited offer from Melrose Industries and unveiled a plan to split its business. The FTSE 100 firm’s board unanimously rejected a bid from Melrose received 8 January that valued the company at 405p per share, [...]
GKN takeover offer: Vince Cable to ask the government to stop any takeover of GKN after Melrose offer January 12, 2018 Liberal Democrat leader Vince Cable has spoken out against the attempted takeover of British engineer GKN, asking the government to intervene to “ensure this damaging takeover does not happen”. GKN today said it had rejected an “opportunistic” takeover offer by FTSE 250 firm Melrose Industries which valued the company at 405p per share. The move [...]
German coalition success on the cards after 24-hour talks conclude January 12, 2018 Angela Merkel is close to announcing a new coalition can be formed after reaching a preliminary accord with Germany’s Social Democrats after a gruelling round of talks. The German Chancellor will announce the deal – agreed between leaders of Merkel’s Christian Democratic Union, her Bavarian sister party and the Social Democrats after more than 24 [...]
US President Donald Trump bins UK visit after “peanuts” embassy sell-off January 12, 2018 Donald Trump has scrapped a trip to the UK in February after blasting plans to sell off the US embassy in London. The US president took to social media this morning saying the iconic Grosvenor Square building had been sold off for “peanuts”. A $1bn (£740m) new US embassy, first announced by George Bush and [...]
City Moves for 12 January 2018 – who’s switching jobs at Glenny, Belstaff and Fever-Tree? January 12, 2018 Today’s City Moves cover investing, fashion and soft drinks. Take a look at these movers and shakers: Glenny Glenny has announced a high-profile senior appointment, making Philip Colman a divisional partner in its investment team. He has over 10 years’ experience working in the London and the south east business space markets with a focus [...]
It’s all about the midterms: Donald Trump is a wildcard, and Congress hangs in the balance January 12, 2018 At the very end of 2017, the Republican party finally passed its first major piece of legislation since the Trump administration came to power. After a year in which its opponents criticised it again and again for a lack of new policies, the party managed to push through the biggest overhaul of the tax system [...]
Tech isn’t enough to solve the productivity crisis – we need a flexible working revolution January 12, 2018 Productivity has long been front of mind for British industry, with firms up and down the country still working to solve this complex and evolving puzzle. And new research published this week – commissioned by Citrix and carried out by Lancaster University’s Work Foundation – has found worrying tensions between productivity and the adoption of [...]
The City of London is bracing itself for a raft of UK retail collapses in 2018 January 12, 2018 Retailers painted a gloomy picture of the high street this week as several big names failed to cash in on the Christmas shopping season. Gloomy financial updates from household favourites such as Marks and Spencer (M&S), Debenhams, and House of Fraser prompted analysts to signal several retail collapses may be on the cards in 2018. [...]
London on Saudi Aramco listing shortlist along with Hong Kong and New York say reports January 11, 2018 London has made it onto the shortlist for potential listing venues for Saudi Aramco, as the state-backed oil giant looks to list in late 2018, according to reports. New York and Hong Kong are also on the shortlist, with a dual- or even triple-listing on the cards, according to Reuters. Saudi Arabia’s Tadawul exchange will [...]
Ex-Barclays boss Bob Diamond not among digital challenger bank Tandem’s new investors January 11, 2018 Former Barclays boss Bob Diamond will not be making a return to British retail banking, having ruled out taking a stake in digital challenger Tandem. Diamond’s Atlas Merchant Capital had been one of several potential investors in talks with the fintech company in recent months, but is not part of a new funding round that [...]