Axa private equity renamed September 30, 2013 Axa Private Equity yesterday completed its carve out from parent company Axa Group, renaming the business Ardian. The name is derived from the word hardjan, used in age old European languages, which it says “embodies a sense of courage and signifies a code of behaviour which all fit well with the culture of the company”.
Eurostar and Keolis to bid for East Coast line September 30, 2013 TWO COMPANIES backed by France’s national railway have launched a joint bid to run the East Coast main line, which is due be re-privatised by the government before the next general election. Eurostar and Keolis, which are both majority-owned by SNCF, announced yesterday that they intend to compete for the rail franchise – the first [...]
Apple dethrones Coca-Cola as the world’s most valuable brand September 30, 2013 APPLE and Google have unseated Coca-Cola as the number one global brand, according to a report yesterday from consultancy Interbrand into the top 100 global brands. Computer giant Apple had a brand valuation of $98.3bn in 2013, moving the company from the second spot in 2012 to the top of the list this year. “Every [...]
Advertising to hit £12.5bn in 2013 September 30, 2013 UK advertising spending is expected to grow to more than £12.5bn in 2013 on the back of the 4G promotional push by mobile operators, and BSkyB and BT’s campaigns around rival TV sports packages. Media buying agency ZenithOptimedia said the 2.9 per cent jump in 2013 is spurred by growth in mobile ads and higher [...]
SSE shares edge up as it commits to dividend rise September 30, 2013 SSE’s shares rose slightly yesterday, after the energy supplier reassured investors that it would be increasing its dividend this year. The FTSE 100 firm’s shares plummeted last week, wiping £1.15bn off its value, after Labour leader Ed Miliband proposed to freeze energy bills until 2017 if elected. In yesterday’s trading update, the big six energy [...]
Brookfield Property makes $5bn bid for 99 Bishopsgate owner September 30, 2013 BROOKFIELD Property Partners yesterday offered to buy the 49 per cent of Brookfield Office Properties (BPO) it does not already own for $5bn (£3.1bn) in a deal that would create one of the world’s largest commercial property firms. Both companies are subsidiaries of Toronto-based Brookfield Asset Management which manages about $175bn in power, property, infrastructure [...]
Russia’s Rosneft offers $1.5bn for minority stakes in TNK-BP September 30, 2013 RUSSIAN oil giant Rosneft yesterday said it plans to buy the remaining shares in TNK-BP Holding for a fraction of the price it paid BP and a group of oligarchs for their stakes, in a worrying development for minority shareholders in Russian companies. Rosneft bought the holding company and its parent TNK-BP last year in [...]
Gem discovers blue diamond September 30, 2013 GEM DIAMONDS yesterday said it has recovered a rare 12.46 carat blue diamond and an 83.8 carat white diamond from its Letmine in Lesotho, Africa. The London-listed firm said both diamonds are expected to fetch good prices at tenders held in Antwerp, Belgium. RBC Capital Markets has predicted that the miner could earn $6m (£3.7m) [...]
A Woolf in Lord Mayor’s clothing September 30, 2013 CITY lawyer Fiona Woolf was yesterday appointed as the next Lord Mayor of London, marking only the second time a woman has been elected to the post in its 800-year history. Woolf, an energy partner at CMS Cameron McKenna and sheriff of the City from 2010-11, will take up her role at a traditional silent ceremony [...]
Schwarzman gets BlackRocked September 30, 2013 BLACKSTONE boss Steve Schwarzman, one of Wall Street’s most rambunctious characters, is not known for regrets. This is, of course, the tycoon who got rocker Rod Stewart to perform at his 60th birthday party. But maybe he’s getting reflective in his old age. Yesterday he said his decision to carve out money manager BlackRock from [...]