Oil price turbulence creates “once-in-a-generation buying opportunity” for private equity April 12, 2016 Oil price turbulence has created a “once-in-a-generation buying opportunity” in private equity, according to a new report. PE Views, a report Latham and Watkins, notes that while many companies are "focused on pure survival", there are buyers willing to "bet on an eventual recovery". Read more: Oil price volatility is holding back M&A in the industry… [...]
Death knell for physical music as digital sales overtake for the first time April 12, 2016 The global music market hailed its first significant year-on-year growth in nearly two decades, as booming digital music sales overtook physical formats for the time. The International Federation of the Phonographic Industry’s (IFPI) annual report reveals that digital revenues now account for 45 per cent of the market after a 10.2 per cent jump to $6.7bn (£4.7bn) last [...]
Furniture chain ScS narrows losses as sales heat up April 12, 2016 Furniture chain ScS said losses narrowed in the first half of the year as demand for its sofas and flooring reached a record high. The figures The retailer, which floated last year, said its like-for-like order intake – which reflects sales it has not yet booked – rose by 9.1 per cent in the six months [...]
De Beers insists demand for rough diamonds is as sparkly as ever April 12, 2016 It seems the demise of diamond sales has been greatly exaggerated, after De Beers published figures showing it made $660m (£463m) in its last sales "cycle". The figures are part of a new drive for transparency at the world's largest diamond producer, which began publishing figures on its 10 annual sales cycles in February in response to [...]
Eastern European energy company EPIF plans IPO and London Stock Exchange listing April 12, 2016 Czech investor EPH has announced plans to launch an initial public offering (IPO) and list its energy infrastructure utility EPIF on the London Stock Exchange. Its primary stock market listing will be on the Prague Stock Exchange, while its global depository receipts (GDRs) will be admitted onto the UK market, under the plans. It was [...]
Safestay boss Larry Lipman explains why a new breed of hostels is catching the attention of investors April 11, 2016 The boss Safestay said it was only a matter of time until hoteliers exploring opportunities outside of their saturated markets jump on the hostel bandwagon, as the upmarket hostel owner revealed a rise in full-year revenues. The Aim-listed company, which was founded by property veteran Larry Lipman five years ago with the aim of sprucing up the hostel [...]
Tesco explores sale of Dobbies Garden Centres April 11, 2016 Tesco is preparing to sweep its shelves clean of more non-core businesses – this time in the gardening section – as the supermarket chain focuses on reviving sales at its core supermarkets. The retailer, which will publish its full-year results on Wednesday, already sold off a number of assets including its South Korean business Homeplus for £4.2bn last [...]
Markets in Peru climb higher as free-market candidates move on to election second round April 11, 2016 Peru's markets have recorded their sharpest jump since 2008 after voting results showed two free-market candidates have moved on to the second round of presidential elections. In early afternoon trading the Peru General Index was up more than eight per cent, falling back from highs of over 10 per cent in earlier trading. The Peruvian sol currency added 2.68 per cent [...]
Brent crude and WTI: Oil prices jump back ahead of crucial meeting of producers April 11, 2016 Oil prices shook off early losses today to gain around two per cent, ahead of Sunday's crunch meeting between the world's major producers. Prices had earlier dipped on doubts that a production freeze from some of the countries taking part in the talks in Doha will be enough to balance markets. Brent crude, the global benchmark, fell [...]
Goldman Sachs agrees to pay $5bn to settle mortgage claims April 11, 2016 Goldman Sachs has agreed to pay $5.06bn (£3.6bn) to settle claims that it mis-sold mortgage backed securities in the run-up to the financial crisis. The settlement with the US Justice Department relates to residential mortgage backed securities (RMBS) sponsored or underwritten by the US investment bank between 2005 and 2007. Goldman Sachs has agreed to [...]