Currie to head antitrust body … July 17, 2012 FORMER Ofcom boss Lord Currie has been chosen as the first chair of the Competition and Markets Authority – the UK’s new antitrust regulator. Currie will earn £185,000 a year for the three-day a week commitment, serving as chair of the body for a four-year term beginning this summer. The CMA is part of the government’s [...]
…as ex-takeover boss joins ABI July 17, 2012 ROBERT Hingley, a former director general of the City’s Takeover Panel, was yesterday appointed to the Association of British Insurers to be its new director of investment affairs. Hingley, whose stay at the Takeover Panel was prolonged when his successor got caught up in a conflict of interest over the Cadbury/Kraft takeover, has had 30 [...]
Retail bonds boom as ICAP shuts its £50m issue ahead of schedule July 17, 2012 BROKER ICAP yesterday closed its £50m retail bond issue earlier than expected following a strong response from investors. “ICAP has met sufficient demand for the bond,” a spokesman said. They declined to comment on the likelihood of future issues. The bond offered a 5.5 per cent return over a six year period and subscribers could [...]
Cowes reps out in force in City to rev up interest July 17, 2012 THE annual festivities of Cowes week start just two days before the end of the Olympics in August, and with so much on offer in the sporting world this summer those behind the event have already begun in earnest with their efforts to entice City workers down to the Isle of Wight. Yesterday the organisers [...]
OLYMPIC MASCOT ARRIVES ON CHEAPSIDE July 17, 2012 Wenlock, one of the Olympic Games mascots, popped up in the Square Mile yesterday. He and his Paralympic colleague Mandeville have been travelling around the UK in the build-up to the Games.
Wolseley falls as it mulls sale of French unit July 17, 2012 PLUMBING and building supplies group Wolseley said yesterday it may shut its French business because of the difficult market conditions hitting trade in continental Europe, sending its shares lower. Wolseley said it would “explore strategic options” for its operations in France, where it intends to start a consultation process with its employees. “It now looks [...]
Anton Bilton’s Raven Russia set to snap up more property sites July 17, 2012 PROPERTY group Raven Russia is expected to unveil more than $70m-worth of real estate acquisitions near Moscow today. The FTSE 250-listed firm is believed to have snapped up a large warehouse to the north of the Russian capital, which is let to two tenants, as well as 38 hectares of development land to the west. [...]
BURBERRY LOOKS TO END PERFUME DEAL July 17, 2012 LUXURY brand Burberry has ratcheted up the pressure on fragrance partner Interparfums to offer a new agreement on more favourable terms, by serving notice on the French firm to terminate their current deal. Upon termination, Burberry would pay Interparfums approximately €181m (£141.6m), it said.
Shell faces $5bn spill fine July 17, 2012 Nigerian regulators have told parliament that Royal Dutch Shell should be fined $5bn for environmental damaged caused by an oil spill at its offshore Bonga field, one of the biggest in the history of Africa’s largest energy industry. Shell said yesterday there was no legal basis for the proposed fine.
Henderson ventures into France July 17, 2012 Fund manager Henderson yesterday announced the purchase of French property management firm Horizon Investment Management France SAS for an undisclosed sum. Founded in 1998, Horizon advises advising on asset management in the French real estate market and comprises a €250m Luxembourg close-end property fund and a number of asset management contracts to manage 25 properties.
