UK investor Melrose Industries nears deal to sell Crosby Group October 6, 2013 MELROSE Industries, the UK manufacturing investor, is nearing a deal to sell heavy lifting company Crosby Group. Melrose, listed on the FTSE, put the US-based company on the block earlier this year and is thought to have received a slew of offers for the business. Buyout shop KKR, which pioneered the practice of buying firms [...]
Consumer firms to spark next flotation frenzy October 6, 2013 BRITISH department store House of Fraser is on the cusp of appointing advisers to explore plans for a float of the chain, amid a resurgence in consumer–focused brands looking to list in London. The chain is thought to have held a beauty parade of investment banks, laying plans for a £300m float after the Christmas [...]
Oriel Securities is back on track after dismal 2012 loss revealed October 6, 2013 ORIEL Securities, the resurgent City broker, made the first loss in its decade-long history last year after corporate finance fees fell to a four-year low, annual accounts show. Oriel, which has since returned to an even keel after securing a tie-up with Canadian outfit CIBC last month, saw turnover fall 22 per cent in the [...]
Pension Insurance Corporation considers public funding source October 6, 2013 PENSION Insurance Corporation, the pension scheme buyout firm, is considering tapping the public equity markets for capital to help foster its rapid rate of growth. The company, which was set up by private equity investor Edi Truell six year ago, is thought to be considering a range of options including private investments or a float [...]
Bank of America chief happy to be butt of jokes October 6, 2013 They’re back. The banker jokes were flowing as freely as the champagne at the Banker awards where some of the City’s brightest investment bankers gathered to pat themselves on the back and collect awards. BBC broadcaster Michael Buerk, who in another age was famous for his reports from a starving Ethiopia, hosted the evening and [...]
London taxi maker hoping for a bonza bonanza Down Under October 6, 2013 THE ICONIC London black cab is being exported to Australia – but it will be turned white for its trip Down Under. Almost 100 taxis, freshly painted to adapt for the hot climate, have been shipped to Oz for a trial in Perth, where the state will subsidise drivers to switch to the new cars. [...]
Compensation for carbon tax delayed by EU October 6, 2013 BRITISH companies owed millions of pounds in compensation from a controversial carbon tax have been left waiting for their promised payout, after the government admitted this weekend that EU approval has been delayed until at least the end of 2013. The government had pledged to offer energy-intensive businesses a £100m compensation package to offset costs [...]
Half a million new firms set to open doors in Britain this year October 6, 2013 ALMOST 400,000 new businesses have been registered in Britain so far this year, putting the country on course for half a million new firms in 2013, according to StartUp Britain. Based on this total, the group estimates that a whopping 523,410 new companies will be formed this year. The campaign group, which combed through Companies [...]
Sable receives Guinea export decree October 6, 2013 Aim-listed Sable Mining, the iron ore producer run by ex-England cricketer Phil Edmonds and Andrew Groves, today said that the Guinea government has issued an export decree for its Nimba iron ore project, so that Sable can export iron ore through Liberia to the Port of Buchanan. “The issuance of our export decree…is a major [...]
Argentinian leader takes a month off October 6, 2013 Argentine President Cristina Fernandez has been told by doctors to take a month off because of a subdural hematoma on her brain, forcing her to abandon campaigning for important congressional elections taking place later this month. The 60-year-old president, who demanded that the UK hands over sovereignty of the Falkland Islands, was in full campaign [...]