Quindell share price edges up as it appoints Indro Mukerjee as chief executive August 17, 2015 Shares in embattled insurance outsourcer Quindell rose 2.15 per cent after it announced it had appointed a new chief executive, two months after the departure of Robert Fielding. Read more: Four things we know about Quindell's new chief exec Indro Mukerjee will start his job on 7 September. His appointment came as the company's business and [...]
Government hires Lazard and Savills as multi-million pound sale of 36.5 per cent stake in King’s Cross Central kicks off August 17, 2015 The government has kicked off the sale of its 67-acre site around London's King's Cross station. Investment group Lazard and high end estate agent Savills are handling the deal. Interested parties have been urged to contact Lazard by 7 September. The decision to sell the government’s 36.5 per cent stake in King’s Cross [...]
Network Rail is poised for £1bn sale of properties including Vinopolis site and Brixton arches August 16, 2015 Network Rail has taken the first step towards selling off its £1bn commercial property portfolio after hiring bankers to conduct a review of its estate. The government-backed organisation, which runs all of Britain’s rail infrastructure, confirmed that it is working with boutique investment bank Rothschild to explore ways in which it can “make more [...]
Morrisons nears deal to offload M Local stores August 16, 2015 Morrisons is in talks to sell its convenience stores to the investment firm behind the rescue of Monarch Airlines as the struggling supermarket chain focuses on reviving its core business. The Bradford-based retailer is said to be nearing a deal with a team of industry executives led by Greybull Capital to offload its M Local [...]
Bob Diamond snaps up stake in New York trading outfit South Street August 16, 2015 Former bank chief turned investor Bob Diamond has snapped up a stake in New York-based repo-trading outfit South Street Securities, diversifying his portfolio since his exit from Barclays three years ago. Diamond, who was pressured to bow out of Barclays in the wake of the Libor scandal, has been actively engaged in his emerging markets [...]
Wood Group to slash thousands of jobs amid oil price plunge August 16, 2015 Top oil contractor Wood Group has been forced to slash thousands of jobs as tumbling commodity prices continue to ravage key North Sea producers. The FTSE 250-listed firm cut more than 4,000 jobs in six months, with at least 1,000 in Britain, its half-year results are expected to show tomorrow. Earlier this year, Wood Group [...]
Shire looks to lift $30bn bid for rival Baxalta August 16, 2015 Irish drug giant Shire Pharmaceuticals is prepared to top up its offer to woo rival Baxalta to the negotiating table on condition it is given direct access to its books, sources say. Shire made its all-stock $30bn (£19.2bn), or $45 per share, offer last month for US drug maker Baxalta, which has so far [...]
Uber is increasing the size of its security team four-fold August 16, 2015 Taxi app company Uber hopes to have increased the size of its security team from 25 people to 100 people by the end of the year, according to the FT. Read more: Uber vs black cab: Who wins among London passengers? – Brand Index The change comes as the firm, which is worth an [...]
Baxalta hints it will accept a bid from Shire, but only if it offers an extra $5bn August 16, 2015 Shire's attempt to buy Baxalta could prove successful, so long as the pharmaceutical company agrees to add an extra $5bn (£3.2bn) to its original offer. Read more: Shire share price drops following £19bn hostile takeover bid to Baxalta At the beginning of August, Shire made a hostile bid worth an estimated $30bn (£19bn) to [...]
Psst … Warren Buffett’s Berkshire Hathaway could be making a secret purchase August 15, 2015 Psst … Billionaire investor Warren Buffett's Berkshire Hathaway could be quietly making a secret purchase. The most tantalising element of a disclosure, filed with the U.S. Securities and Exchange Commission, was what had been left out. "Confidential information has been omitted from the public Form 13F report and filed separately with the U.S. Securities and Exchange Commission," it said. [...]