US hotel chain Starwood’s share price jumps in pre-market trading after unsolicited takeover approach March 14, 2016 Starwood Hotels and Resorts has received a $12.8bn (£8.9bn) takeover offer from a group led by China’s Anbang Insurance Group, potentially throwing a spanner in the works for the tie up between Starwood and Marriott agreed last November. The terms of the deal with Marriott includes a period during which Starwood can consider other offers and expires [...]
Fever-Tree’s share price sparkles as it toasts strong sales for its first full year as a listed company March 14, 2016 Premium mixers brand Fever-Tree, has reported revenue up 71 per cent to £59.3m for the year to 31 December, while pre-tax profits soared to a whopping £16.7m, from just £2.5m the year before. After listing in October 2014, shares have climbed by around 250 per cent, giving Fever-Tree a market capitalisation of around £680m. The company is also offering a substantial hike [...]
From Nigeria to Singapore: How low crude oil prices are changing pirates’ tactics March 14, 2016 Piracy off the coast of Nigeria is estimated to cost over $7bn annually, with the bulk of costs affecting the oil industry. And over in Singapore, pirate groups can earn up to $1m for a successful tanker hijack. But the data suggests that plummeting oil prices are driving a tactical shift by pirates, replacing oil theft [...]
Brent and WTI crude: Oil prices fall back below $40 March 14, 2016 Oil prices fell back below $40 per barrel today as oversupply concerns trumped increasing optimism that the market had bottomed out. Brent crude, the global benchmark, reversed earlier gains to fall 1.63 per cent to $39.73 per barrel this morning. West Texas Intermediate crude, the US benchmark, slumped two per cent to $37.72. Iran indicated over the weekend [...]
Yu Group valued at £26m after being significantly oversubscribed ahead of IPO for Aim listing March 14, 2016 Gas and electricity supplier Yü Energy has priced its shares 185p, valuing the firm at £26m, ahead of its launch on Aim this Thursday. Yü, which supplies energy to small and medium-sized businesses, said it had been "significantly oversubscribed" in its placing with institutional investors. Shore Capital is Nomad and sole broker. The total placing, including the share sale, [...]
Yu Energy, a gas and electricity company aimed at providing services to SMEs , IPO oversubscribed after it announced its intention to float on the London Stock Exchange last month March 14, 2016 Yu Energy appears to be in hot demand as the energy supplier has found itself oversubscribed for the IPO it announced less than a month ago. The company, which focuses on providing SMEs with gas and electricity, has today revealed its placing price of 185p per ordinary share after raising £10m. "We have been delighted [...]
Know your audience: Quantcast CEO Konrad Feldman talks starting out in Silicon Valley and IPO March 14, 2016 Over the last decade, the marketing industry has laid down its scatter-gun and embraced big data, creating a virtuous circle which promises to make the ecosystem more efficient. Extant viewability issues aside, marketers can reach those likely to buy their products, publishers can monetise better, and consumers, in theory, are served ads they are likely [...]
Fashion chain Jigsaw takes piece of West End after signing up to the Crown Estate and Oxford Properties’ £400m St James’s Market scheme March 14, 2016 Jigsaw has become the latest retailer to sign up to the Crown Estate and Oxford Properties’ £400m St James’s Market scheme. The fashion chain will open a 3,000 square feet shop last this year joining Swedish cycling brand Assos, Smeg and office tenants such as private equity Carlyle Group. Jigsaw's so-called Emporium will include 1,000 sq ft for its [...]
Footfall dips in February as shoppers abandon shopping centres and high streets March 14, 2016 Consumers flocked to retail parks in February but shunned high streets and shopping centres, according to data out today. Visitors to UK shops dropped by 1.1 per cent in February – an abrupt reversal of the 1.2 per cent rise seen in January, the British Retail Consortium (BRC) and Springboard said. High streets and shopping [...]
Steel sector jobs could be saved by government March 13, 2016 The government is working with private equity fund Greybull on a deal to save 4,000 jobs at Tata’s Scunthorpe steelworks. The department for business, innovation and skills (BIS) is negotiating with both Tata Steel and Greybull to finalise a deal ahead of a 31 March deadline that could see the government taking a stake in [...]