TalkTalk chief Dido Harding pushes to split BT and Openreach as profit rises May 14, 2015 TalkTalk boss Dido Harding renewed her calls for the regulator to force BT to sell its telecoms network division Openreach yesterday, and said more competition in the market would lead to further investment. Harding made the comments while discussing TalkTalk’s results for the year to 31 March, which showed a 3.2 per cent rise [...]
Center Parcs hires SSP chairman Vagn Sorensen just as new bidders Starwood and CVC Capital weigh in May 14, 2015 Center Parcs revealed yesterday it has hired a new chairman at the same time it emerged that Starwood Capital has teamed up with CVC Capital to consider a joint £2.5bn bid for the group. Private equity owner Blackstone launched a dual track process earlier this year to either sell or launch an initial public offering [...]
Aldermore ramps up the lending after IPO as challenger bank set to meet investor expectations May 14, 2015 Challenger bank Aldermore reported a sustained surge in lending in the first quarter of the year, continuing to rack up the growth after going public in March. Net lending increased seven per cent in the three-month period to hit £5.1bn, with organic loan origination coming in at £568m, up nine per cent on same period of [...]
Alliance Trust unit pays £14m for Brewin Dolphin platform May 14, 2015 Alliance Trust’s savings division yesterday bought smaller stockbroking platform rival Stocktrade from Brewin Dolphin for £14m. Alliance Trust Savings (ATS), which has £7.2bn in assets, will add Stocktrade’s 48,000 customers, boosting its customer base to 105,000. Assets will also rise to £11.5bn after the deal completes. The group said the acquisition would allow it to [...]
3i starts to enjoy fruits of Simon Borrows’ turnaround plan May 14, 2015 The UK’S oldest private equity group 3i topped the FTSE 100 yesterday after revealing another set of thumping results, bringing the curtain down on a dramatic turnaround which has transformed the once-underperforming company. Investors applauded the end of the three-year initiative to streamline the firm by chief executive Simon Borrows by sending shares 15.5p [...]
Sirius Minerals confident on York Potash project after planning update May 14, 2015 Analysts said yesterday they were confident in a positive outcome for Sirius Minerals as it progresses with its York Potash project. Shares in the Aim-listed firm went up by 10.71 per cent after the company updated investors on the approvals process for the project. Planning officers at the North York Moors National Park Authority have [...]
Matalan chief Jason Hargreaves makes retailer a family affair May 14, 2015 Jason Hargreaves made a trip to Oxford Street earlier this year with his four-year-old daughter in tow. The managing director of Matalan, the out-of-town value fashion and homeware chain founded by his father, John Hargreaves, 30 years ago, came to view its first ever central London store at the east end of on Oxford [...]
Avon shares just went berserk after PTG Capital claims it made $8.2bn offer May 14, 2015 PTG Capital Partners, a private equity firm, claims it made an $8.2bn (£5.2bn) offer for cosmetics company Avon. Famous for its "Avon lady" representatives, PTG said the offer was worth $18.75 per share – more than three times the value of the company on yesterday's closing price of $6.67 per share. Shares in the US firm [...]
BP has bagged ex-MI6 chief Sir John Sawers as a non-exec director May 14, 2015 Oil giant BP has bagged ex-MI6 chief Sir John Sawers, who will sit on its board as a non-executive director with immediate effect. Sawers completed his five-year tenure as the top boss of the UK secret intelligence service in November 2014, and was the first MI6 chief to be appointed from outside of the service since 1968. [...]
British Land profits lifted by lucrative London property market May 14, 2015 The figures: British Land said that underlying profit before tax rose 5.4 per cent to £313m for this financial year, up from £297m a year earlier. Diluted underlying earnings per share rose 4.1 per cent to 30.6p, an increase from 29.4p in 2014. The developer's total portfolio valuation rose by 12.1 per cent to £13.63bn. This was [...]