Private equity house KKR to buy scientific testing specialists LGC from London investment firm Bridgepoint December 8, 2015 American private equity firm KKR has agreed to buy life sciences firm LGC from London-based investment group Bridgepoint for an undisclosed sum. LGC said under KKR’s ownership it plans to “continue the rapid development of the business” with a particular focus on the US and Asia. The company specialises in scientific testing, including DNA testing [...]
Bank warns looming credit boom risks housing bubble December 8, 2015 The noughties were not humanity’s greatest decade. It brought us boot cut jeans, velour tracksuits and 50 Cent – and now a report has warned that we could be heading back there, thanks in part to the Bank of England’s monetary policy committee (MPC). According to BNP Paribas Real Estate, if the MPC shies away [...]
Grounded: Business groups slam UK government over delays to decision on London airport expansion December 8, 2015 Business groups have slammed the government over signals a final decision on airport expansion will not be made until at least next year. “Businesses across the UK will be astonished if the government once again delays taking a decision on a new runway,” said British Chambers of Commerce (BCC) director general John Longworth. “Ministers’ plans [...]
Labour’s shadow City minister Richard Burgon remains a man of mystery in the Square Mile December 8, 2015 Poor Richard Burgon. For those who don’t know much about Corbyn’s shadow City minister, don’t worry. It turns out most of London’s financial sector don’t either. Back in October, Burgon appeared on Channel 4 News. As Labour’s new shadow City minister, you’d think he would’ve tried to prove his credentials for the role. Alas, his [...]
Douwe Egberts owner JAB Holding Company rivals Nestle market share with $13.9bn Keurig Green Mountain deal December 7, 2015 Drinks company Keurig Green Mountain has been taken private by coffee specialist Douwe Egberts owner JAB Holding Company in a deal worth $13.9bn (£9.2bn). JAB, an investment vehicle owned by Germany’s Reimann family, paid $92 per share in cash for Keurig, representing a premium of around 78 per cent over its closing price on 4 [...]
Gordon Brown appointed to Pimco advisory board alongside Ben Bernanke and Jean-Claude Trichet December 7, 2015 Former Prime Minister Gordon Brown has been appointed to the Global Advisory Board at investment management firm Pimco. He joins the group’s team of advisers alongside former Fed chairman Ben Bernanke and former chief exec of the Government of Singapore Investment Corporation, as well as Anne-Marie Slaughter, president and chief exec of New America, and [...]
A Finnish plan to clean up the welfare mess December 7, 2015 Just days after George Osborne announced his latest mass of adjustments to Britain’s tax and spend system, reports from Finland revealed that its government is looking into a somewhat simpler policy – giving each Finn €800 (£576) a month. This may seem like madness. Why, I’m sure many of you will ask, should folk be [...]
What got us tweeting in 2015: JeSuisParis, Refugees Welcome and The Dress top the bill December 7, 2015 When it came to the last 12 months, there were plenty of big hitting topics that got us talking – or rather, tweeting – in 2015. The hashtag #JeSuisParis was Twitter's top “influential moment” of 2015, trending last month after Islamic State carried out a number of terrorist attacks in Paris, killing 129 people. It came on the [...]
Oil prices could stay under $50 as defiant Opec fails to reach agreement on production levels December 7, 2015 Oil prices could remain stuck under $50 amid one of the worst supply gluts in history, as a defiant Opec failed to agree new production levels at an acrimonious meeting at the end of last week. Global benchmark Brent crude fell two per cent to $42.93 a barrel after the Vienna meeting and has stayed around that [...]
Morgan Stanley preparing to axe up to a quarter of staff in its fixed income division December 7, 2015 Morgan Stanley staff are bracing themselves for another week of redundancies as the banking giant wields the axe at its fixed income division. City A.M. understands that the US investment bank could axe more than a quarter of its fixed income staff across worldwide operations. Disgruntled employees in London have taken to social media to voice [...]
