Analyst Views: What do you think about Rathbone’s change at the top? December 2, 2013 STUART DUNCAN | PEEL HUNTIt’s clearly been a fairly well managed process and seems pretty much business as usual for the company at this point. It’s been a transition that has been well thought through and it’s a good example of foresight to put these plans into place earlier this year. DAVID MCCANN | NUMISThis [...]
Insurers warn of insolvencies as low interest rates hit bottom line December 2, 2013 INSURERS are warning that low interest rates could cause insolvencies in their industry, a report from Linklaters has found. Two thirds of insurers are looking to explore new markets, according to the global law firm, as low rates mean they are unable to turn a profit. The report found that 65 per cent are looking [...]
Andor looks for White Knight after fresh bid December 2, 2013 SCIENTIFIC camera maker Andor Technology has once again shot down Oxford Instruments’ attempts to negotiate a takeover, labelling the firm’s £159m offer as disappointing. Andor said it is still pursuing its long-term stand-alone growth strategy and also actively soliciting a recommendable offer from Oxford Instruments or any other parties. Oxford Instruments, which designs and manufactures [...]
Debenhams relaunches flagship store December 2, 2013 DEBENHAMS lined up its roster of British fashion collaborators yesterday to help celebrate the relaunch of its Oxford Street flagship store. Henry Holland, Jenny Packham and Julien Macdonald – who all design collections for the high-street retailer – were among 20 special guests marking the completion of the £40m makeover.
Hilton hotel and Aramark price New York floats December 2, 2013 THE US new issues market showed no signs of slowing down yesterday after two American hospitality giants with substantial UK operations priced their forthcoming market floats. Hotel operator Hilton Worldwide and catering company Aramark, both backed by private equity firms, announced plans to raise up to $2.37bn (£1.44bn) and $833.8m respectively in initial public offerings [...]
Elephant & Castle mall sold off with plan to build new homes December 2, 2013 ELEPHANT & CASTLE Shopping Centre has been sold for £80m, with the new owners pledging to carry on with plans to demolish the site and replace it with rental homes. Pension fund APG and real estate group Delancey have bought the site from regeneration specialist St Modwen and Kuwait’s Salhia Real Estate, who owned the [...]
Saab resumes production December 2, 2013 The new owners of Swedish car maker Saab, National Electric Vehicle Sweden, yesterday restarted production at the Trollhattan factory in Sweden. NEVS, which is 22 per cent owned by the Chinese city of Qingdao through the city’s investment company, bought most of the assets of Saab last year. The electric version of the 9-3 sedan [...]
Trinity’s £300m distribution deal December 2, 2013 Smiths News and Menzies Distribution have both secured five year extensions to their distribution agreements with Trinity Mirror worth £293m in total. On Smiths News’s new £143m deal chief executive Mark Cashmore said in a statement: “Our longstanding relationship with Trinity Mirror has delivered incremental revenue growth over the past five years as they have [...]
Innovation slips despite growth December 2, 2013 Innovation Group, the business software and processes firm, saw its share price drop 2.1 per cent yesterday despite reporting 22 per cent profit growth to £14.4m during the year to 30 September. Investors were troubled by the company’s North American operations that reported a £1.2m loss. However, the company said restructuring efforts would return the [...]
City Moves for 03 December 2013 | Who’s switching jobs December 2, 2013 Holley Holland The consultancy has appointed Alex Cameron as a principal consultant. He has over 25 years’ experience in financial services, qualified as a solicitor at Allen & Overy, and has worked with the Bank of England, Barclays Capital and Barclays Business Banking. Altius Associates The private equity advisory firm has appointed Rhonda Ryan as [...]