Private equity companies expected to line up for GHD as Lion Capital plans auction June 6, 2016 Leeds-based hair care company GHD could be sold by current private equity owner Lion Capital for more than £400m. GHD, which supplies hair care products to all manner of celebrities, from Madonna and Gwyneth Paltrow to Katy Perry and Jennifer Aniston, made £33.7m in pre-tax profit in its 2015-16 financial year, making a £400m price tag around 13 times earnings. Sales jumped 9.5 per [...]
US tops chart of most expensive countries for cancer drugs June 6, 2016 The US forks out the most in the world for cancer drugs, new research has revealed. The highest retail prices for a median of 23 cancer drugs were found to be in the US, with the lowest prices in India and South Africa. The UK ranked third, behind China. Despite poorer countries having access to cheaper drugs, the treatments [...]
Before the bell: What you need to know before the US market open June 6, 2016 Markets are hoping for clarity from Fed chair Janet Yellen later and a British exit from the European Union is looking more likely as a poll gap narrows. Here's what you need to know before the US market opens at 14:30 London time. US stocks are pointing up in the pre-market. The S&P is up by 0.13 per cent, the [...]
Low fuel prices means it’s cheaper to run a car now than it was in 2013 June 6, 2016 One of a household's biggest bills is being held down by low oil prices. The average annual cost of running a car is around 22 per cent – or £622 – less than 2013, coming in at £2,197.42. The decline is due to the price of petrol at the pump, which makes up almost half of the costs of [...]
Oil and gas firms are struggling as the industry braces for fresh job cuts June 6, 2016 The UK oil and gas sector is planning further cost cutting to absorb the impact of lower oil prices, putting more jobs on the line. Almost half (43 per cent) of UK oil and gas firms intend to cut costs, new research from the Bank of Scotland has today revealed. Nearly a third (32 per cent) of businesses [...]
Entrepreneurs signal the economy is looking up despite warnings over the impact of Brexit June 6, 2016 Economic confidence among entrepreneurs has taken a big step forward over the last year. The number of business owners who feel confident about the direction of the global economy climbed by 18 percentage points to 69 per cent over the last 12 months according to a survey from accountancy giant EY. The UK economic outlook [...]
Investors look to production data as FTSE flattens June 6, 2016 Industrial data will be in focus this week as investors look for signs of life in the sector. With rising fears of a second quarter slowdown for the UK economy, poor industrial and manufacturing production figures on Wednesday could stoke broader fears. In March industrial production was wallowing 10 per cent below pre-crisis levels, with the [...]
Asahi could be about to snap up more of SABMiller’s beers ahead of AB InBev sale June 5, 2016 Downing Peroni and Grolsch has not quenched Asahi's thirst it seems. The Japanese brewing giant is weighing a £5bn bid for some of SABMiller’s eastern European beer brands, including Pilsner Urquell. Earlier this year Asahi picked up Peroni, Grolsch, and London's Meantime for almost £2bn after AB InBev put them up for sale following its successful takeover attempt of SABMiller – in a deal dubbed Megabrew. [...]
Tata to make decision over Port Talbot and UK assets in coming days June 2, 2016 Indian steel conglomerate Tata is expected to decide in coming days whether to hold on to its UK business, people familiar with negotiations told City A.M. Tata put its Port Talbot steelworks and the rest of its UK assets up for sale earlier this year and has been working with the government to find a buyer. [...]
US drug companies are hiring their own auditors to review compliance following civil violations, raising conflict of interest fears June 2, 2016 Some of the US' biggest drug companies have been found to be hiring their existing auditors to carry out compliance reviews, creating a potential conflict of interest. The compliance reviews are a part of government settlements over alleged civil violations, such as off-label drug promotion or paying kickbacks. Federal records revealing the practise were uncovered by [...]
