Billionaire Mark Cuban heads to insider trading trial in the US September 29, 2013 MARK Cuban, the billionaire who regularly sits courtside to cheer on his Dallas Mavericks basketball team, is heading to a court of a different kind today. The showdown in US district judge Sidney Fitzwater’s courtroom in Dallas is expected to last eight to 10 days. Once there, Cuban hopes to convince a federal jury that [...]
Sable awarded Guinea licence September 29, 2013 SABLE Mining, the Aim-listed iron ore explorer run by ex-England cricketer and businessman Phil Edmonds and Andrew Groves, today said it has been granted a mining licence in Guinea. The licence is to develop the Nimba iron ore project in south-west Guinea, with an exploration target of 200m tonnes by the end of the year. [...]
New name for Babcock unit September 29, 2013 FTSE 100 engineering group Babcock International is renaming its civil nuclear division as Cavendish Nuclear, it emerged yesterday. Babcock was forced to change the unit’s name after a court ruled that it had infringed its trademark, following the divestment of an energy business with the Babcock name in the 1990s, which is now owned by [...]
Terra Firma set to keep its stake in Odeon & UCI September 29, 2013 TERRA Firma, the private equity firm controlled by seasoned investor Guy Hands, has decided to keep its stake in Odeon & UCI Cinema Group rather than sell out of the company. The firm, which also owns property group Annington Homes, had appointed investment banks Goldman Sachs and JP Morgan in May to run the rules [...]
Lakeland owners take home £1m as kitchen retailer cooks up sales September 29, 2013 LAKELAND’S owners netted a £1m dividend last year after the family-run kitchen and homeware retailer posted a four per cent rise in sales. The Windermere-based group – owned by brothers Sam, Martin and Julian Rayner, reported sales of £157.5m in the year to 31 December 2012, up from £151.3m the previous year, accounts filed last [...]
Thomas Pink profit rosy after an online push and new products September 29, 2013 LUXURY shirtmaker Thomas Pink saw profits jump by almost a fifth last year as it continued to ramp up its online expansion and come up with new products. The chain, which is owned by French luxury goods giant LVMH, posted a 19 per cent rise in pre-tax profits to £1.9m in the year to 31 [...]
Knight Frank sees London as prime location September 29, 2013 ESTATE agent Knight Frank has named London as its prime location as it reported increases in both turnover and profit in the last year. The upmarket property advice company saw its profits lift seven per cent to £102.7m in the year ending 31 March, while turnover rose five per cent to £350m and net cash [...]
Leon Restaurants poised to land at Heathrow’s new Terminal 2 September 29, 2013 LEON Restaurants, the healthy fast-food chain, is to open its largest site yet at Heathrow airport’s new Terminal 2. The 2,600 square feet restaurant is expected to open its doors when the Queen’s Terminal launches in June next year, the site’s franchise operator HMS Host said yesterday. The opening will take Leon’s total estate to [...]
Stricken gold broker looks for life-saving cash September 29, 2013 TROUBLED pawnbroker Albemarle & Bond is in the market for an emergency bailout after its business was hit by a slide in the price of gold. The company, which has more than 200 stores and is listed on the junior stock market in London, is understood to be close to securing the funds to keep [...]
City Moves for 30 September 2013 | Who’s switching jobs September 29, 2013 Hausfeld & Co The litigation law firm has appointed Boris Bronfentrinker as partner. He joins from Freshfields Bruckhaus Deringer, where he was a senior lawyer in its cartel defence and commercial disputes practice. Macquarie Securities The institutional equities arm of Macquarie Group has appointed Brandon Krieg as managing director and head of electronic execution in [...]