Boardroom battle between Electra and Sherborne Investors boss Edward Bramson continues October 26, 2015 The boardroom cat-fight between Edward Bramson and Electra rumbles on, with yet more letters when Electra released its full year results yesterday. Electra reported net asset value (NAV) per share return of 25 per cent in the year to September 30, with £259m realised from the portfolio. NAV per share return (the best measure of [...]
Apple weighs on Wall Street before results – New York Report October 26, 2015 Energy shares dropped with oil prices yesterday and Apple retreated a day before its quarterly results as the Dow and the S&P 500 edged lower. The Dow Jones industrial average fell 23.65 points, or 0.13 per cent, to 17,623.05, the S&P 500 lost 3.97 points, or 0.19 per cent, to 2,071.18 – but the Nasdaq [...]
Blackstone private equity to buy Boeing manufacturer MB Aerospace from Arlington Capital Partners October 26, 2015 Blackstone private equity fund is to buy Scottish-based engineering company MB Aerospace from US private equity fund Arlington Capital Partners for an undisclosed sum. MB Aerospace manufacturers and repairs aero-engine parts for customers including Rolls-Royce, Boeing, United Technologies Aerospace Systems, General Electric and the US Department of Defense, and has facilities in the UK, US [...]
Insurer Axa brings Ireland business under scope of new UK boss Amanda Blanc October 26, 2015 Insurance company Axa has announced that it will bring its Ireland operations under the remit of Amanda Blanc when she becomes CEO of Axa Insurance, UK & Ireland, on 1 January 2016. Axa Ireland will continue to run as an independent entity, but will report into Blanc. Axa Ireland will be headed by Phil Bradley [...]
Major shareholder in Jack Dorsey’s Square set to depart from company board ahead of US flotation October 26, 2015 Twitter chief executive Jack Dorsey's company Square, which is gearing up for its initial public offering (IPO) in the US, has revealed that Vinod Khosla is stepping down as a director of the firm. Khosla has been on the board of the mobile payments business since June 2011, in addition to being a general partner [...]
Market Tech Holdings snaps up another Camden property as it eyes main market move October 26, 2015 Market Tech Holdings, the owner of the iconic Camden Market which is majority owned by Israeli entrepreneur Teddy Sagi, said it has added another property to its burgeoning north London empire and that trading was on track. The company, which owns around 14 acres of land in and around Camden, said it has bought the freehold of [...]
My Local: Mike Greene’s new convenience chain has a tough task ahead of it after Morrisons’ management October 26, 2015 Today’s grocery market is an unforgiving place for established supermarkets, let alone new retailers on the block. Many supermarkets are struggling against the seemingly inexorable changes sweeping the grocery industry. They face falling prices and shifting shopping habits, with shoppers moving simultaneously online and to the discount retailers. It is against this backdrop that Mike [...]
Former Sun editor Kelvin MacKenzie teams up with son Ashley and Invesco to shake-up Rightster board October 26, 2015 Ashley MacKenzie has joined forces with his father, former Sun editor Kelvin MacKenzie, Neil Woodford's investment management group and Invesco to oust the board of online video distributor Rightster. Chief executive Patrick Walker will step down and take-on a non-executive role, and non-exec chairman Mark Lieberman and directors Michael Broughton and David Mathewson will also [...]
Black Friday 2015 UK date: Why the crazy discount and deal day chaos is coming early this year (and will last longer) October 26, 2015 Be prepared for Black Friday to come early this year. There's a month to go until the day which brought us frenzied scenes of bargain shoppers, but one company believes retailers will begin their discounting even earlier than 27 November when it falls. "Retailers are likely to discount earlier than Black Friday but spread the offers over [...]
Remortgage lending figures surge in September over prospect of rate hike October 26, 2015 The number of people remortgaging their properties jumped in September as homeowners rushed to secure record-low rates ahead of a potential interest rate hike next year. The latest figures from property services group LMS reveal that remortgage loans reached 28,686 last month, up 12 per cent from 25,600 in August. This is also a four per cent [...]