Ex-Citi bankers forced to close Asian focused Primus Financial December 6, 2012 THREE ex-Citigroup bankers who raised $1bn (£620m) to invest in pan-Asia financial services have closed the fund after a string of setbacks and the region’s failure to deliver hoped-for bargains in the aftermath of the global financial crisis. Robert Morse, Wing-Fai Ng and Guocang Huan – all with long experience in Asian financial M&A – [...]
Sir Philip sells £500m stake in Topshop brand December 6, 2012 SIR PHILIP Green has sold a 25 per cent stake in his family’s Topshop empire to a US private equity firm in a deal that values the successful high street chain at £2bn. Arcadia, the retail tycoon’s holding company, confirmed yesterday it has sold off a £500m stake in its prized Topshop and Top Man [...]
Kcell on track for IPO pricing by next week December 6, 2012 KCELL, the leading Kazakhstan-based mobile telecommunications group, is expecting to close the books on its London and Almaty-based flotation by Tuesday evening, with bankers reporting healthy demand. The group’s management team, led by chief executive Veysal Aral, finished seeing institutions in Moscow earlier this week before travelling to London. The group, which is offering a [...]
Banco Popular deal puts a spring in bankers’ steps December 6, 2012 THE problems of the Eurozone are far from over but some investment bankers involved in capital raising issues are hoping a type of normality is returning to their battered markets. The contrasting fortunes of two financial deals, at either end of the year, provide the backdrop to their growing confidence. At the start of 2012 [...]
UK becomes second-largest EU car market December 6, 2012 BRITAIN is now the second-biggest car market in the EU, according to industry figures released yesterday. UK new car registrations rose 11.3 per cent year-on-year to 149,191 units in November, thanks to increased demand from private purchasers. Total car sales are now on track to top 2m in 2012, according to the Society of Motor [...]
Demand helps support our production December 6, 2012 BRITAIN’S car industry continues to defy those who say this country doesn’t make things any more. And demand at home is helping to drive that resurgence. Industry lobby group the SMMT released data yesterday showing the UK is now the second-largest EU car market by new registrations. Demand has risen year on year in the [...]
CIBC gets in the Xmas mood on its Miracle Day December 6, 2012 ‘TIS the season and alongside mince pies, carols and tinsel, charity trading days are fast becoming the traditional way to celebrate Christmas in the Square Mile. Just a day after Icap’s annual charity extravaganza, Canadian Bank CIBC yesterday hosted its Miracle Day with all fees and commissions from its London wholesale banking employees going to [...]
Horse racing and music tie-up scores Doogan-Hobbs top prize December 6, 2012 HORSE racing and music concerts may be par for the course these days, but there was not too long ago when they were deemed unlikely bedfellows. We’ve got entrepreneur Liz Doogan-Hobbs to thank for the now often seamless shift from the races to the dance floor. Yesterday, Doogan-Hobbs, who set up Liz Hobbs Group which [...]
How to give December 6, 2012 online at: www.cityam.com/appeal by text CITY13 and amount (£5 or £10 only) to 70070 Text donations may not work from company mobile phones as these often block premium messages. credit or debit card by phone to Opportunity International (01865 725 304) If donations exceed our programme needs in Africa, they will be deployed elsewhere. TWEET [...]
The Prudential backs our appeal December 6, 2012 Why is Prudential supporting Opportunity International? Prudential is a leading player in a number of emerging markets and therefore we have first-hand experience of the importance of financial literacy. We like the way Opportunity International uses micro–credit, hand in hand with financial business training, to create opportunities that allow individuals to help themselves and maximise [...]