It’s a NewDay: Store card maker in private equity sale after dropping float plans October 11, 2016 Private equity firms Cinven and CVC Capital Partners today announced a deal to acquire store card maker NewDay. The private equity houses have agreed a deal to buy NewDay from Varde Partners and although sales value is unknown, it is believed to ascribe an enterprise value of around £1bn to the company. Read more: Why would anyone choose a [...]
Official statisticians reveal what Britons think will make them the most money for later years October 11, 2016 Britons think the best way to save for retirement is to invest in property rather than a pension scheme, according to research by the Office for National Statistics (ONS). Although respondents to the ONS survey admitted that an employer pension scheme was a safer way to save, nearly half felt that investing in bricks and mortar was best way to [...]
The world is going nutty for healthy snacks and increasingly shunning sugary treats October 11, 2016 Growth in healthy snacks has outstripped growth in traditional in-between meal treats as consumers shift towards lower-sugar diets, according to figures from Euromonitor International. Retail value sales in so-called "healthy" snacks, which include yoghurts, nuts and fruit snacks, have grown seven per cent worldwide between 2015 and 2016. Although yoghurt and sour milk products grew [...]
George Osborne has told Theresa May to get on with a verdict on airport expansion October 11, 2016 Former chancellor George Osborne has warned Theresa May to get on with a verdict on airport expansion, admitting successive governments had “dragged heels” over approving a new runway. Osborne blasted across the Prime Minister's bows in his first appearance in front of a select committee as a backbench MP, having been dismissed by May over the summer. [...]
Pressure mounts on FCA to introduce overdraft cap October 11, 2016 The Financial Conduct Authority (FCA) has come under renewed pressure to clamp down on excessive overdraft fees today after new research revealed thousands of people are being hit with triple-digit bills. Debt charity Step Change said between six and 10 thousand people a month contact them looking for help managing their finances after incurring overdraft [...]
Picks of the day: The three stories to read today October 11, 2016 You have probably been working hard all day – looking to take a break to catch up on the latest news? We’ve done the legwork for you, and put together the top stories people are talking about today in bite-sized form, just to make your life that bit easier. Samsung’s Galaxy implodes If you have [...]
Hipster hammering: City Fringe offices landed with huge business rate increases October 11, 2016 London's hipster office hubs will be under intense pressure when the new business rates come in next year, as new figures highlight the extent of the tax increases that are set to burden the City Fringe. The government has published its first business rate re-evaluation for seven years. The new tax for each property is based [...]
Biffa, GoCompare and others will not follow Pure Gym in binning IPO plans October 11, 2016 A series of high-profile London stock market flotations are set to go ahead in the coming weeks, despite Pure Gym abandoning its plans for an initial public offering (IPO) this month. City A.M. understands waste disposal company Biffa remains confident of listing on the London Stock Exchange this month. Read more: Pure Gym avoids overstretch [...]