Standard Life says it will not sell its Canadian unit October 25, 2009 INSURER Standard Life is not looking at selling off its underperforming Canadian business, according to a source, despite a report saying that it had asked its advisors to review the unit. “It is not the case that Standard Life is looking at selling its Canadian business,” said a source close to the situation. It follows [...]
WILL WE SEE THIRD QUARTER GDP FIGURES REVISED UPWARDS? October 25, 2009 RICHARD MCGUIRE RBC CAPITAL MARKETSWhile preliminary estimates of output are notoriously prone to revision, the clear indication here that the UK remains mired in an unprecedented recession provides a compelling argument in favour of the Bank opting for a precautionary increase in the QE limit come 5 November. PHILIP SHAW INVESTECThe continued contraction of the [...]
Miners set to tap investors October 25, 2009 SHAREHOLDERS in the recession-hit global mining industry will have to dig deep to help debt-laden companies recover and expand, a study to be published today will show. Miners struggling with huge deficits due to high borrowing in 2007/8 are likely to rely on equity fundraising as their major source of growth finance in the next [...]
Duke Street Capital seeks a Simple sale of skincare firm October 25, 2009 SKINCARE brand Simple has been slapped with a price tag of £250m by its private equity owner Duke Street Capital. Duke Street – which declined to comment – acquired Simple in early 2004 in a secondary buyout for £229m – but it is now looking to sell it following a number of unsolicited approaches for [...]
L&G puts LGC up for sale as DNA profiling to solve crime increases October 25, 2009 FORENSIC science group LGC, the company which helps with murder investigations and paternity testing, is up for sale. Legal & General Ventures, the private equity group, is selling it off for £200m, after acquiring it for £80m in 2003. It is a massive turnaround for the group – which was also involved in investigating the [...]
Powerleague shrugs off new bid talk October 25, 2009 POWERLEAGUE, Britain’s biggest operator of five-a-side football, yesterday shrugged off rumours that sports fashion retailer JD Sports was plotting to gatecrash its £42.5m takeover. Earlier this month Powerleague agreed to a takeover offer from its biggest shareholder, Patron, which owns 29 per cent. Its executive chairman, Claude Littner, a close friend and colleague of Apprentice [...]
Long-term care provision: a chance for redemption October 25, 2009 WHEN it comes to old age, it is not just the elderly who can get confused. For years, politicians, policy makers and economists alike have struggled to provide a sustainable solution to the problem of funding long-term care for elderly people in an ageing UK population. As part of this debate, the City of London [...]
Candy brothers set to launch high-end property fund to snap up luxury homes October 25, 2009 Property tycoons Nick and Christian Candy are set to list a new high-end residential property fund. CPC Group, Christian Candy’s property development company, will act as the investment manager and Candy & Candy – the brother’s luxury design house famed for its sleek bespoke designs – will be providing interior design and property management services. [...]
GlaxoSmithKline set to reveal its swine flu boost as orders for vaccines jump October 25, 2009 Pharmaceutical giant GlaxoSmithKline (GSK) is expected to unveil a leap in revenues in its third quarter results on Wednesday, due to a boost in demand for its swine flu vaccine. The world’s second biggest drugmaker recently said that governments have so far ordered 440m doses of the drug. Mass vaccinations across Europe started last week [...]
Aim stock valuations on rebound in third quarter October 25, 2009 LIGHT is on the horizon for small cap investors after stock valuations on the Alternative Investment Market (Aim) showed a strong rebound in the third quarter of the year. The total Aim market capitalisation has risen 50 per cent to £56.6bn since the end of last year, with 27 per cent of this increase being [...]
