How the Grangemouth tough guys Jim Ratcliffe and Calum MacLean fell out March 31, 2015 When Ineos was founded in 1998, it was formed by Jim Ratcliffe in an £84m buyout of a chemicals firm. Sixteen years later, Ratcliffe and his team, including Calum MacLean, had built that into an industrial titan with operations in 16 countries and turnover of $54bn (£36bn) a year. An aggressive approach to acquisitions and [...]
Simon Murray stands down as boss of Gulf Keystone Petroleum March 31, 2015 Oil firm Gulf Keystone Petroleum revealed yesterday that its colourful chairman Simon Murray is to retire. Ex-Glencore chairman Murray has had a varied past, which includes a stint in the French Foreign Legion. He previously led Li Ka-Shing’s Hutchison Whampoa for 10 years, and is famously known for having once been chased by a leopard. [...]
Quindell founder Rob Terry buys into Daniel Stewart sending shares up 750 per cent March 31, 2015 Quindell founder Rob Terry upped his stake in broker Daniel Stewart sending the firms' shares soaring today. Shares in Daniel Stewart, which offers corporate advisory and institutional stockbroking services, jumped 750 per cent to close at 1.7p. They had only recently started trading again following a suspension in October for failing to publish its annual report. [...]
Selling off surplus public sector land could lead to more than 100,000 new homes in London March 31, 2015 Over 100,000 homes could be built in London surplus public land was sold back into the marketplace. The findings are one of a number of points made in an analysis of the London Land Commission that was set up George Osborne in February. Business group London First and law firm Berwin Leighton Paisner, believe that [...]
UK exports: Venezuela is the riskiest place in the world to do business – while Norway is the most resilient March 31, 2015 Expanding abroad is a big step for any business – and that's without added risks from geopolitical instability and dodgy dealers, not to mention natural hazards. Now a new "resilience index" by property insurer FM Global has identified the riskiest places in the world to do business – taking into account factors ranging from corruption, [...]
Marston’s just took another gulp of Thwaites March 31, 2015 British pub brewer and operator Marston's has said it will take another gulp of north-west based brewer Thwaites. In an update to the London Stock Exchange today, Marston's, which has been brewing Thwaites' beers since early last year, announced it had bought its beer division outright for £25.1m. As part of the acquisition, Marston's has [...]
Eurozone deflation: Consumer prices fell 0.1 per cent in March March 31, 2015 While inflation in the Eurozone fell for a fourth consecutive month in March the rate of decline slowed again, meaning it's even closer to returning to inflation. Consumer prices fell 0.1 per cent in March in line with analysts expectations, and up from -0.3 per cent last month, according to a flash estimate from Eurostat, [...]
UK economic growth rises to 0.6 per cent in final quarter of 2014 March 31, 2015 In what could be a general election boost for the Tories, Britain's economy grew more than previously thought in the final three months of last year, official data has shown. Gross domestic product (GDP) increased by 0.6 per cent in the final quarter of 2014, up 0.1 percentage points from the previous estimate, according to data [...]
Kingfisher share price rises on plans to close 60 B&Q stores in UK and Ireland March 31, 2015 Kingfisher's profits fell last year despite an increase in sales, but plans to close 60 B&Q stores have sent shares up. The figures The DIY retailer, which owns B&Q among others, experienced a 2.9 per cent increase in sales last year, but its pre-tax profits fell 7.5 per cent to £675m. The figures, for the [...]
Thomas Cook gets north European boost but takes a knock from currency woes March 31, 2015 The numbers Thomas Cook has reported trading in line with expectations, with the summer of 2015 more than 50 per cent sold. The UK business continues to build on last year with Thomas Cook's Concept Hotels growing 20 per cent from the previous year. Bookings at thomascook.com have climbed 10 per cent. However, the company took [...]