Barclays close to appointing Jes Staley as new chief executive, reports October 12, 2015 Barclays is to announce its new chief executive as Jes Staley, according to reports. As John McFarlane, Barclays' chairman, looks to address shareholders' concerns about the institution's investment banking arm, those familiar with the matter have suggested that Antony Jenkins' successor could be announced within the next two weeks. Read more: Barclays share price climbs after board [...]
US justice department to probe AB InBev after allegations it is seeking to curb craft beer distribution October 12, 2015 Brewing giant AB InBev is being probed by the US justice department amid allegations that it is trying to curb competition in the industry by buying distributors, according to people familiar with the matter. AB InBev, Reuters reported, is buying distributors in order to make it harder for fast-growing craft beer brewers to get their products [...]
Babcock wins £100m MoD contract for engineering services to the Royal Navy October 12, 2015 Defence engineering support firm Babcock yesterday announced it had been awarded a new ministry of defence (MoD) contract and the extension of another one in a deal worth about £100m in revenue. The new five-year contract is for engineering services to the Royal Navy at air stations in the south west of England. The contract is to [...]
City Moves for 13 October 2015 | Who’s switching jobs October 12, 2015 CITY NOBLE The pensions and investment advisory firm has appointed Mike Webb as associate in its advisory business. He was previously head of distribution and marketing for the Axa corporate investment platform, and senior business development manager in Standard Life’s corporate pensions division. CBRE The commercial real estate services and investment firm has appointed Milan [...]
Healthcare property group Assura raises £300m through equity placings to fund expansion October 12, 2015 Healthcare property group Assura said yesterday it has raised more than £300m using equity placings as it seeks to expand its portfolio of GP surgeries and health centres. The listed-company, which develops, owns and manages healthcare facilities that are then leased back to local NHS organisations or GPs, has raised gross proceeds of £309m through [...]
Volkswagen emissions scandal: UK managing director Paul Willis said “VW has significantly let down its customers” October 12, 2015 Volkswagen UK's managing director Paul Willis had admitted the company "has significantly let down its customers", as he faced a grilling from MPs on how the company's external investigation is going and how it intends to rectify the damage the emissions scandal has caused. Willis added: "[Volkswagen] will take all the necessary steps to regain trust" [...]
RBS and Patron Capital sell 32 UK hotels to owner of Thailand’s Singha Beer October 12, 2015 The Royal Bank of Scotland and private equity group Patron Capital have sold a portfolio of 32 UK hotels for £160m to Thai joint venture including Thailand's biggest beer-maker. The business, known as Jupiter Hotels, owns and manages 26 hotels spread out across the UK and operating under French hotelier Accor’s Mercure franchise. The pair [...]
London’s pharma sector gets a boost as Shield and Faron announce plans to float in the capital October 12, 2015 The Chinese market turmoil has not destroyed confidence in the UK's pharmaceutical sector, as two companies today announced plans to float in the capital. Newcastle-based Shield Therapeutics and Finnish Faron Pharmaceuticals are both planning to launch their IPOs on the London Stock Exchange in the near future, although neither confirmed definite dates. Read [...]
UK buyers snap up first 100 homes inside BBC Television Centre October 12, 2015 More than 100 homes inside the former BBC Television Centre in London’s White City have been snapped up after going on sale at a preview launch to UK buyers last month. The 14-acre BBC campus is being redeveloped into a new £1.5bn neighbourhood district to rival the West End with 350,000 sq ft of offices, a [...]
Less than 52 hours before the Megabrew deadline AB InBev raises SABMiller offer to £43.50 a share October 12, 2015 Anheuser-Busch InBev has increased its offer for London-based SABMiller to £43.50 a share, a 48 per cent premium. In a statement today, the company confirmed it has offered £43.50 a share in cash, with a partial share alternative (offering AB InBev shares instead along with £3.56 cash per share) for approximately 41 per cent of SABMiller, which [...]