Not selling itself short: SVG Capital puts the first tranche of its shares up for sale November 17, 2016 The starting gun was today fired on the winding-up of SVG Capital (SVG) following a tumultuous couple of months late this summer. Investors will be able to sell up to £350m of the company's shares from today, priced at 715p each. The offer will be open until 15 December and is part of a series of tender offers that [...]
Focus On Lewisham: Historically undervalued, Lewisham is undergoing a major upgrade November 17, 2016 It may surprise you to learn that Lewisham, that underloved pocket of South East London, is one of the fastest growing boroughs in the capital. Since the arrival of its DLR station and the rise of Canary Wharf – a wealthy neighbour where employment has quadrupled in the last 10 years – it’s become an increasingly [...]
More scrutiny on Chinese M&A targeting US as congress advised to block state-owned takeovers November 17, 2016 Chinese takeovers are coming under increasing scrutiny in the United States, with congress now advised to ban state-owned firms from acquiring American companies. China-to-US mergers and acquisitions (M&A) activity has smashed previous records so far this year, with Dealogic tracking 146 deals worth $60.7bn so far this year – up from 117 deals worth $12bn [...]
London’s Brexit wish-list must include rules allowing entry for migrants without jobs, according to Assembly Members November 17, 2016 New immigration rules must not prevent people without job offers entering the country, according to London Assembly Members, who have drawn up a post-Brexit wish list for the capital and the Square Mile. While Theresa May has suggested new restrictions will be a key part of any divorce terms negotiated with the EU, chancellor Philip [...]
Valeant share price slumps as charges against former exec revealed November 17, 2016 Shares in Valeant slumped in early trading, after charges were brought against one of the company's former executives over the troubled firm's relationship with specialty mail-order pharmacy Philidor. Gary Tanner, a former executive at Valeant Pharmaceuticals, along with Andrew Davenport, ex-chief executive of the now defunct Philidor Rx Services, were today arrested. It is alleged the duo engaged in [...]
Co-operative Bank says low interest rates behind decision to cut 200 jobs November 17, 2016 The Co-operative Bank is cutting 200 roles across the business in a bid to cut costs. The roles will be made redundant by the end of March 2017. The bank said low interest rates were partly to blame for the job losses, as it is struggling to make money in the current economic environment. The roles affected [...]
The fourth emergency service’s shares head northwards after debt refinancing announcement November 17, 2016 Motoring group the AA today announced plans for a balance sheet shake-up in the hope of cutting some of its hefty interest costs. Shares in the company jumped over two per cent after it revealed plans to refinance hundreds of millions of pounds of its corporate debt pile, a move the AA said would save the company £8m [...]
Petrol pumps US inflation slightly higher in October November 17, 2016 US inflation increased slightly in October to reach 1.6 per cent year on year, continuing a steady upward trend in the second half of the year. Inflation increased by 0.1 per cent, with petrol prices and housing making the largest contributions. The overall energy sector increased 3.5 per cent, its largest increase since February 2013, [...]
Londoners are the most likely to take work off to bag a bargain on Black Friday November 17, 2016 Why work when you could shop? It seems a healthy chunk of us have been asking ourselves that very question, and have decided to skip work for the year's biggest day of discounting – Black Friday. According to a survey by discount retailer The Original Factory Shop (Tofs), seven per cent of us intend to [...]
E-cigarette innovation is stalling, a leading doctor has warned November 17, 2016 Innovation in electronic cigarettes will stall unless a bridging approach to new product regulations is made. New variants of e-cigarettes and next generation products risk being tied up in development, said James Murphy, head of reduced risk substantiation at British American Tobacco. Murphy gave a keynote speech today at the Next Generation Nicotine Delivery conference in [...]