Private equity firm 3i appoints bank to sell parent company of Tommee Tippee brand October 6, 2015 Private equity group 3i has appointed investment bank Baird to oversee the sale of Mayborn Group, parent company of baby products manufacturer Tommee Tippee, according to reports. A formal sale process could begin soon, while a return to the stock market is a less likely alternative option. Mayborn is likely to be valued at around [...]
George Osborne’s buy-to-let reforms fail to dissuade investors – Comparethemarket.com October 6, 2015 Buy-to-let investors have not let chancellor George Osborne's recently announced reforms dampen their enthusiasm for the market, with enquiries on Comparethemarket.com rocketing so far this year. The website's data shows that buy-to-let enquiries were up by 20 per cent in the first eight months of the year, compared to the same period of last year, [...]
US government narrowly avoids shutdown as Congress votes to extend federal funding October 6, 2015 The US government narrowly avoided being shut down last night, as it ended weeks of infighting with a vote on funding for federal agencies. Congress voted to extend funding for the government, averting a shutdown just hours before a midnight deadline. The vote was largely won on Democrat votes, at 277 to 151. A majority [...]
Economic expansion slowed in September but CBI says growth is still strong October 6, 2015 The rate of economic expansion dipped slightly in the three months to September following a near record-breaking previous month – but growth is still strong, according to the latest Confederation of British Industry (CBI) growth indicator. Its survey of 775 respondents across the manufacturing, retail and service sectors showed the pace of growth slowed down [...]
Ernst & Young posts fastest revenue growth in seven years as income jumps to £2bn October 6, 2015 Ernst & Young saw its fastest revenue growth since 2008 last year, with global revenues up 11.6 per cent to $28.7bn (£19bn). The professional services group announced today that it also grew fee income by eight per cent in the year to 3 July, up to £2bn from £1.87bn, while profits grew by six per [...]
UK companies scaling back investments over emerging market slowdown fears October 6, 2015 The UK’S biggest companies are scaling back investment plans as a slowdown in emerging markets and swings in financial markets temper their appetite to take on risk, according to survey figures published this morning. The research, conducted by Deloitte, showed that 73 per cent of chief financial officers (CFOs) said the current level of [...]
Tech giants warned of second digital revolution over next decade October 6, 2015 The world's biggest companies face a rising threat over the next decade, as new technologies and innovations open the way for agile start-ups and entrepreneurs to steal market share. The digital economy is set to become a £3.2 trillion market by 2025, according to research from consultancy Ovum, a 29 per cent climb on today’s [...]
National living wage will hit hiring at small firms – Federation of Small Businesses October 6, 2015 Small firms expect to slow their hiring and raise prices as the newly announced national living wage is introduced. A negative impact on business is expected by 38 per cent of small employers, according to survey data released today by the Federation of Small Businesses (FSB). Half of firms said they would lift [...]
Conservative party conference 2015: Boris Johnson to slam Jeremy Corbyn in speech today October 6, 2015 London mayor Boris Johnson will use his speech at the Conservative party conference today to lash out at Labour leader Jeremy Corbyn and make the case for Conservative leadership both in City Hall and in Westminster. Johnson, who is also the MP for Uxbridge and regularly touted as a possible successor to David Cameron, is [...]
Industry groups welcome George Osborne’s promise on local authorities’ funds October 6, 2015 Industry groups have largely welcomed chancellor George Osborne’s promise to give "power to the people" by handing local authorities control over £26bn in revenues from business rates, fuelling speculation that Osborne is the front-runner to be the next Conservative leader. In a surprise announcement in his speech at the Conservative party conference in Manchester yesterday, [...]
