Cathay family paid £60m dividend despite profit slump September 18, 2016 The family company which owns Cathay Pacific has paid itself a dividend of £60m, even though pre-tax profits fell by 20 per cent. John Swire & Sons, a 200-year old conglomerate which is still largely owned by the Swire family, has a large portfolio of companies in various sectors including bakeries, offshore oil exploration and [...]
Broadband services yet to reach the last mile, or 10 per cent of UK homes September 18, 2016 Around ten per cent of the UK's housing stock still experiences a woefully inadequate broadband connection according to the CEO of a company that provides satellite broadband, despite government targets to boost connectivity and generous subsidies. Aim-listed Satellite Solutions Worldwide provides superfast broadband to places, often rural, where typically no broadband exists. CEO Andrew Walwyn [...]
SVG Capital chief exec could make nearly £3.8m from US takeover thanks to shareholding September 18, 2016 The chief executive of private equity firm SVG Capital could be in line for a payout of nearly £3.8m if US company HarbourVest succeeds in its £1bn-plus hostile pursuit. Lynn Fordham currently owns just over 575,000 shares in the listed UK company, which was the subject of a 650p-per-share offer earlier this month. Read more: [...]
Hinkley Point C is not a magic bullet – the UK also needs a dash for gas to plug the looming energy gap September 18, 2016 The go-ahead for Hinkley Point C last week may signal a new era for nuclear power in the UK, but the UK is still facing an energy gap. “Approval of Hinkley C is necessary but not sufficient to avoid a future supply crunch,” said Jeremy Nicholson, director at the Energy Intensive Users Group (EIUG). “We [...]
Mmmm: Doughnut company Krispy Kreme prepares for London float September 18, 2016 Doughnut company Krispy Kreme is progressing with its plans for an initial public offering (IPO) in London. The UK arm of the American company, which is controlled by private equity firm Alcuin Capital, is planning to float on the London Stock Exchange next month. Read more: Premier listing: Fund manager plots London Stock Exchange flotation The float, [...]
Manhattan explosion injuring 29 not “international terrorism” says NY governor September 18, 2016 An explosion in Manhattan which injured at least 29 people, one of them seriously, in the late hours of Saturday evening is not being treated as an international terrorism incident at this stage. Authorities believe the bomb was placed intentionally but is not terror related, and New York governor Andrew Cuomo said there was no evidence of an "international [...]
Britain reportedly faces multi-million pound fines if trade talks are opened before quitting the EU September 18, 2016 Britain reportedly faces multi-million pound fines if the government engages in trade talks before quitting the EU. According to the Sunday Times, Whitehall officials have been told there is a “high risk” the European Commission would take the UK to court if ministers open talks with any countries with which the EU is already negotiating. [...]
Premier listing: Fund manager plots London Stock Exchange flotation September 18, 2016 Fund management company Premier Asset Management is considering a float on the London Stock Exchange this year. Keefe, Bruyette & Woods and Numis are advising the firm on the possible initial public offering (IPO). The flotation discussions come nine years after Guildford-based Premier was taken private by Electra Partners. Read more: Another London Stock Exchange strike: Hollywood [...]
Heathrow runway extension campaigners slash £2bn from projected costs September 18, 2016 Supporters of a plan to extend one of Heathrow's runways have cut their estimated costs for the project by almost a quarter in a bid to win government backing. The Heathrow Hub plan involves stretching their airports northern runway to 6.8km, and splitting it in half so that planes can take off and land at the [...]
HSBC is the new sponsor of British Cycling replacing Sky September 18, 2016 HSBC will become the lead sponsor of British Cycling replacing Sky in a new deal . The group is credited with creating superstar athletes such as record breaking gold medal winners Laura Trott and Jason Kenny and Tour de France and Olympic champion Bradley Wiggins in recent years. "We are extremely proud to be working in partnership with British Cycling," [...]