I Squared buys Irish energy firm Viridian for €1bn March 29, 2016 US private equity firm I Squared Capital (ISQ) has acquired Belfast-based energy firm Viridian in an all-cash deal. City A.M. understands the deal to be worth €1bn (£780m). “We intend to grow Viridian with the leadership team to achieve its full potential,” said Gautam Bhandari, a partner at I Squared Capital, adding: “The acquisition of [...]
Influential shareholder group PIRC calls into question Schlumberger’s ability to cover proposed dividend payout ahead of oil firm’s annual meeting March 29, 2016 The influential shareholder group PIRC has called into question Schlumberger's ability to cover a proposed dividend payout ahead of the oil firm's annual meeting. In an alert today PIRC said that Schlumberger's proposed cash dividend of $2 per ordinary share "is not covered by earnings", and recommended that shareholders cast an "oppose" vote on the group's financial statements and [...]
Heinz wants Londoners to grow their own produce, so it’s filling the city with mini-gardens March 29, 2016 Most people in London have learnt to watch where they're walking for fear of standing in something unpleasant. But anyone strolling through London on Tuesday would have noticed a striking new addition to the scenery that won't ruin your shoes. Miniature gardens have popped up on both sides of the river Thames as part of sauce maker [...]
Japanese drinkers snap up Digby Fine Wines’ first shipment of fizz to the region in less than a month March 29, 2016 It seems that it's not just British whisky that's whetting Japanese consumers' appetites. Trevor Clough, chief executive of UK fizz maker Digby Fine Wines, is loudly trumpeting the news that his firm's first shipment of English sparkling wine to Japan has sold out before the end of the month. Digby, which counts luxury investment company The House [...]
Property of the Week: The Woolwich mansion where Mike Leigh filmed Mr Turner is up for sale for £3m March 29, 2016 The life of a property developer is rarely glamorous. But for 15 weeks in 2014, Gary Halkyard rubbed shoulders with the great and the good of the British film industry and it was all down to a run-down mansion he'd acquired two years previously. Midway through restoring Rush Grove House in Woolwich, Oscar-nominated director Mike [...]
Volkswagen emissions scandal: US consumer watchdog Federal Trade Commission sues VW over “deceptive” clean diesel claims March 29, 2016 The US Federal Trade Commission (FTC) has become the latest body to sue Volkswagen (VW) over its "deceptive" diesel emissions claims. The consumer watchdog announced today that it was starting proceedings against the US arm of the German car manufacturer and wants it to be ordered to compensate the 550,000 customers who bought or leased a [...]
Bank of England clamps down on buy-to-let market with strict new rules for mortgage underwriters March 29, 2016 The Bank of England has today revealed plans to clamp down on the buy-to-let market, setting out strict new rules for banks underwriting buy-to-let mortgage contracts. In a new paper out today, the Prudential Regulation Authority (PRA) said lenders will need to meet a minimum set of requirements before underwriting buy-to-let mortgage contracts, including assessing the [...]
Coinkite drops bitcoin wallet to refocus on cryptocurrency hardware March 29, 2016 Bitcoin startup Coinkite has announced it will phase out its popular online wallet system over the course of 30 days and its team will refocus on enterprise hardware products. "We are winding down the web wallet part of Coinkite so that our team can focus on a number of new products that are more decentralized and embodied [...]
Buy to let rule changes proposed by the Bank of England see economists and landlords butt heads March 29, 2016 Economists and landlords were at loggerheads today in an unlikely battle between homeowners and number-crunchers over the latest clampdown on the buy to let (BTL) market. Following a four-month investigation, the Bank of England today announced plans to tighten the terms and conditions under which banks and building societies can offer mortgages to anybody purchasing residential rental [...]
Aspers gambles on Southampton for fifth casino venue at Royal Pier Waterfront development March 29, 2016 Casino group Aspers has been awarded a licence to open its fifth casino in Southampton's proposed Royal Pier Waterfront development. The new venue will be a major part of the pier development and will create up to 200 jobs in the city. The large licence, won in a competitive bidding process, will allow up to 150 slot machines [...]