Ineos bulks up shale portfolio with IGas deal March 10, 2015 SHALE gas player IGas was boosted yesterday after announcing it is to sell stakes in seven of its licences in the north west of England to chemicals giant Ineos. Shares in the company closed up 15.62 per cent yesterday, after the deal was announced. Ineos is acquiring at least a 50 per cent interest in [...]
John Menzies profits are hit by turbulence at London Heathrow March 10, 2015 AIRPORT services and logistics firm John Menzies said yesterday that operational difficulties at London Heathrow airport will impact its first-half figures this year. Newspaper and magazine like-for-like sales in the distribution division in 2014 were down three per cent. However, the Orbital marketing services acquired in 2012 reported strong growth. The aviation division enjoyed stronger [...]
Uber teams up with UN in a bid to recruit one million women drivers March 10, 2015 Uber has announced plans to create one million jobs for women as drivers by 2020, as it looks to bounce back from negative publicity received in recent months. The taxi app company has partnered with the United Nations to accelerate economic opportunities for women and help them to become more independent. UN Women executive director [...]
Verisk Analytics to enter energy market with Wood Mackenzie takeover March 10, 2015 Data firms Verisk Analytics and Wood Mackenzie are to come together in a £1.85bn deal announced yesterday. Verisk, which specialises in analysis of the insurance market, will purchase Wood Mackenzie from private equity house Hellman & Friedman and other shareholders, using a combination of around $2bn (£1.33bn) in debt and up to $800m in equity. [...]
AstraZeneca chief executive Pascal Soriot gets £3.5m after fending off Pfizer March 10, 2015 The head of drugs giant AstraZeneca was given a £3.5m payday last year after he fought off a hostile takeover bid from Pfizer. Pascal Soriot’s pay packet was up from £3.3m the previous year and consisted of an annual bonus of £1.9m, equivalent to 170 per cent of his base salary, according to the firm’s [...]
Colliers sees no end in sight for market bull run March 10, 2015 REAL Estate advisory company Colliers International said yesterday there was no end in sight to the property market’s bull run. But the timing of interest rate hikes and geopolitical risks could threaten the current cycle. Companies such as Land Securities have questioned how long the current upturn in the commercial market can last, following a [...]
Canada’s Ivanhoe Cambridge snaps up City property for £170m March 10, 2015 CANADIAN pension fund Ivanhoe Cambridge yesterday bolstered its presence in the UK after snapping up 3 Minster Court, off Fenchurch Street, in the City for £170m. The real estate arm of Caisse de Depot et Placement du Quebec – one of Canada’s leading fund managers – has been on the hunt for prime assets to [...]
Five-a-side football firm Goals Soccer Centres chases US expansion after World Cup boosts interest in game March 10, 2015 Goals Soccer Centres has scored a 10 per cent rise in full year pre-tax profits to £10.6m as its US business proved a hit. The five-a-side football pitch operator said like-for-like sales were up 13 per cent at its Los Angeles site, helping total sales rise by three per cent to £34.7m. The firm plans [...]
Esure shares slide as payouts and competition hurt profits March 10, 2015 SHARES in motor insurer Esure crashed by nine per cent yesterday after the company reported a slump in profits. Full-year profits for 2014 fell 12.8 per cent to £103.8m, as increased competition and higher claims ate into its sales. The company was also forced to reduce its final dividend to 11.7p from 13.3p. Gross written [...]
Analyst predicts Barclays will cut investment arm March 10, 2015 Barclays will struggle to reform its investment banking operations, and could have to announce a series of major cuts to the unit, Macquarie analyst Ed Firth predicted yesterday. Chief executive Antony Jenkins and finance boss Tushar Morzaria last week committed to the arm’s future in the bank, but did note that more changes would be [...]