Investment banks to earn a pretty penny off back of Monte dei Paschi rescue deal August 7, 2016 Investment banks are expected to pocket big fees from a proposed emergency plan for Italian lender Monte dei Paschi di Siena. The troubled bank recently revealed it was ironing out a €5bn (£4.2bn) rescue deal to bolster its capital with the help of Mediobanca and JP Morgan, although the deal is still tentative and may yet fall through. However, sources have [...]
Qatari bank reluctant to part with stake in Panmure Gordon August 7, 2016 Panmure Gordon’s biggest shareholder is reluctant to part with its stake in the London-listed stockbroker, City A.M. understands. QInvest, a Qatari investment bank, owns a 43.4 per cent stake in Panmure and is understood to have rejected approaches for its shares from WMG, a fund controlled by Cardiff City Football Club chairman Mehmet Dalman. Read more: Panmure [...]
Canadian Mounties among bidders eyeing up SABMiller’s European beers August 7, 2016 Canada's mounted police force is among the bidders poised to make a £4bn offer for SABMiller’s Central and Eastern European drinks brands. A pension fund manager that invests on behalf of the Mounties, PSP Investments, is one of the groups preparing a deal, the Sunday Times reported. Buyout group KKR and Advent International are also [...]
The number of people visiting France has fallen August 7, 2016 The number of people visiting France from abroad has fallen in the wake of terrorist attacks in the country. Tourism minister Matthias Fekl said the number of foreign visitors has declined by 10 per cent in the first six months of the year, compared to the same time last year, and that trend continued into July. The capital [...]
Insurance giant Anbang denies eyeing up £7bn takeover of InterContinental Hotels Group August 7, 2016 Chinese insurance giant Anbang has denied it is eyeing up the FTSE 100-listed hotels chain InterContinental Hotels Group (IHG) in a £7bn deal. Anbang Insurance Group had held talks with City bankers about launching a takeover bid for IHG, which owns the Holiday Inn, Crowne Plaza and Candlewood Suites brands, the Sunday Times reported. However, a spokesman for [...]
EDF chairman Jean-Bernard Levy to sue union over claims about Hinkley Point review August 7, 2016 EDF chairman and chief executive Jean-Bernard Levy did not know that the UK government would review the Hinkley Point project and is planning to sue a union for stating otherwise. The company said Levy had no prior knowledge of the new government's decision to review the nuclear power project. In a statement, EDF said Levy would [...]
Tesla’s autopilot drove a man having heart pains to hospital August 7, 2016 Could self-driving cars saves lives? One man thinks they may have done already – and that's because it happened to him. A man who suffered severe heart pains at the wheel of his car was lucky enough to be driving a Tesla that could drive him to hospital thanks to a feature known as autopilot. In fact, it [...]
Brockmans is leading the pack in the UK’s “gin-aissance” August 7, 2016 The UK's "gin-aissance" has gone from strength-to-strength, if the results of the UK's fastest-growing, super-premium gin brand Brockmans are anything to go by. The figures Total revenue at the super-premium gin distiller was up 51 per cent to £2.9m in the year to 31 December, from £1.9m in 2014. UK revenue increased 185 per cent last [...]