Private healthcare companies told to sell off nine hospitals January 16, 2014 TWO PRIVATE healthcare firms have been ordered to sell off nine hospitals in a bid to improve competition and cut prices, which one lawyer described as “draconian”. The Competition Commission said HCA should dispose of London Bridge and Princess Grace hospitals, while BMI has been told to sell seven sites across the country. “Requiring operators [...]
UK’s largest debt placement firm TDX sold to Equifax for £200m January 16, 2014 TDX GROUP, the UK’s largest debt placement services and debt management platform company, has been sold to US-listed Equifax for £200m. Investcorp, TDX’s largest institutional shareholder, announced the sale of its stake and those of TDX’s three founders yesterday. Founded in 2004 and headquartered in Nottingham, TDX employs approximately 345 people globally. TDX provides businesses [...]
Ecclestone to face German bribery charges January 16, 2014 FORMULA One’s Bernie Ecclestone will stand trial on bribery charges in Munich in late April over the sale of a stake in his multi-billion dollar sport, a German court said yesterday. Ecclestone has denied wrongdoing and said he will fight to clear his name. He stepped down from his chief executive role but will remain [...]
New City ratings agency aims to shake up sector January 16, 2014 A NEW credit rating agency vying to compete with the big three existing firms launches in London this week, the latest presence in a sector with major credibility issues. Portuguese ratings agency CPR has become ARC Ratings, with partner firms in India, South Africa, Malaysia and Brazil, the culmination of a project almost three years [...]
Law partnerships grow as firms reverse firing and retiring trend January 16, 2014 THE NUMBER of partners at UK law firms rose significantly last year, reversing the decline seen in 2011-12 as the sector moved away from redundancies and early retirement. During the 2012-13 financial year there was an overall net increase of 2,795 partners, compared to a net loss of 153 partners the previous year. According to accountancy [...]
Government boosts aerospace industry with 3D printing centre January 16, 2014 THE GOVERNMENT yesterday said it is providing £30m to fund the development of new aerospace technology in the UK, including a 3D printing centre. The £30m will be matched by industry, bringing the total to £60m. This will be spent on a new aerospace facility, for companies to develop materials for use in planes, jet [...]
Sants joins Church for finance taskforce January 16, 2014 THE CITY’S former top financial regulator Hector Sants, who resigned from Barclays in November citing stress and exhaustion, will lead a new taskforce set up by the head of the Anglican Church. Sants will work with credit unions and the financial sector to support community financial services.
Walsh steers Rio to record iron ore output January 16, 2014 RIO TINTO unveiled record iron ore production and shipments, while slashing costs, one year after new chief executive Sam Walsh took the helm. The FTSE 100 miner said production of iron ore, which makes up around 90 per cent of its earnings, reached 266m tonnes last year, slightly ahead of guidance and up five per [...]
Premier Oil’s shares plunge on disappointing output forecast January 16, 2014 FTSE 250-listed Premier Oil’s 2014 production guidance missed expectations yesterday, sending shares down over six per cent. The oil explorer, which has assets in the UK North Sea, the Falklands and Asia, said production in 2013 was around 58,200 barrels of oil per day (bopd). It expects to produce 58,000 to 63,000 bopd in 2014, [...]
Ladbrokes reassures on profit targets January 16, 2014 BOOKMAKER Ladbrokes said yesterday it expected operating profit for 2013 to meet current market forecasts and that it would maintain its dividend, reassuring investors at the end of another troubled year. Operating profit should be around the middle of £129.8m to £151m.