Woodford adds to sales line up at new venture January 21, 2014 NEIL Woodford, the UK’s most powerful fund manager, has poached his former salesman to come and work with him in a new role at Oakley Capital Management. The fund star, who leaves his current role at fund house Invesco Perpetual at the end of April, has recruited former Invesco head of equity products Nick Hamilton [...]
Guardian sells off the rest of Auto Trader to Apax Partners January 21, 2014 GUARDIAN Media Group yesterday agreed to sell its remaining stake in Auto Trader publisher Trader Media Group to private equity firm Apax Partners. The proposed sale of GMG’s 50.1 per cent stake follows the group’s 2007 disposal of a 49.9 per cent stake in Trader Media to Apax. The value of the deal is said [...]
Is it music to Kim Dotcom’s ears? January 21, 2014 MEGAUPLOAD founder Kim Dotcom has celebrated the two year anniversary of the week the FBI raided his New Zealand home and closed the file sharing site, by launching an album and a new music-sharing service called Baboom. The electronic music album, called “Good Times,” is currently the only music available on Baboom (which is in [...]
City ladies flock to see Girl Rising at Leicester Sq January 21, 2014 HIGH ranking women from some of the City’s largest institutions descended on Leicester Square last night for a screening of Girl Rising – a film which presents the stories of nine girls around the world and their struggle for education. The film has had a peculiar campaign, opting to be screened through a crowdsourcing platform [...]
City Peronis: Splash the cash or scrimp January 21, 2014 FANCY a pint of Peroni? Brewing giant SABMiller revealed yesterday that despite disappointing third quarter results, sales of lager in the UK have risen nine per cent with Italian stallion Peroni leading the herd. And it’s easy to see why – it’s one of the most expensive pints available in London going for a fiver [...]
Unilever surprises with a stronger end to year January 21, 2014 CONSUMER goods giant Unilever reported a better-than-expected finish to its financial year thanks to a rebound in sales in some emerging markets, sending shares higher yesterday. The company behind Lipton Tea and Dove soap surprised the market in October after issuing its first profit warning in almost a decade. It blamed an accelerated slowdown in [...]
Bottom Line: Spread this: I can’t believe it’s not better January 21, 2014 IT DOESN’T look bullish for UK waistlines that Unilever, the world’s biggest ice cream maker, just recorded its twenty-fifth successive quarter of UK growth. Americans have more willpower. Ben and Jerry’s Chunky Monkey wasn’t enough to keep the US market from slowing consumption of the firm’s frozen treats, helping to send its refreshment division down [...]
Popular Peroni helps SABMiller in the UK as sales fall elsewhere January 21, 2014 SABMiller, the world’s second-largest brewer, yesterday fell short of forecasts with a two per cent rise in sales volumes, though UK sales were led nine per cent higher by the popularity of Peroni lager. Soft drink volumes were up seven per cent worldwide in the final three months of 2013, but were offset by a [...]
SSP lines up advisers to work on possible public offering in London January 21, 2014 SSP has reportedly hired Lazard as it looks to go public on the London market. The firm, which runs cafes and restaurants at airports and train stations, could be valued at £2bn in a stock market float, according to the Telegraph. SSP hired former WH Smith boss Kate Swann to lead the firm last summer, [...]
St Tropez gives glow to profits at PZ Cussons January 21, 2014 PZ CUSSONS, the maker of Imperial Leather soaps, said yesterday pre-tax profits rose by eight per cent in the first half, thanks to new products and a strong performance from St Tropez. The group posted a four per cent rise in sales to £431.8m in the six months to 30 November and pre-tax profits of [...]