Car industry brings motor show to a halt October 14, 2010 Motor industry bosses are axing the flagship British International Motor Show after more than a century, blaming the impact on the industry of the economic slump. The Society of Motor Manufacturers & Traders (SMMT) said the biennial show, which last took place in 2008 but was cancelled this year, would not be reinstated in 2012. [...]
Moelis gets full FSA licence October 14, 2010 INVESTMENT banking group Moelis has cemented its ambition of conquering the European market after receiving its full licence from the Financial Services Authority. Moelis, which has been actively poaching some of the stars of the UK market in recent months since setting up in the UK around 18 months ago, has until now been “incubated” [...]
HIG invests £62m in Engine October 14, 2010 Private equity group HIG Capital will invest £62.5m in marketing firm Engine Group to help fund its expansion into the US, China and Brazil. The investment will consist of an initial £32.5m, followed by £30m over the next two years. HIG, which recently moved into new City offices, will eventually hold a stake of around [...]
Fabregas: Real Madrid wanted me over summer October 14, 2010 ARSENAL captain Cesc Fabregas has revealed he was wanted by Real Madrid during a summer of uncertainty over his future. Barcelona were known to be interested in the Spain midfielder and had two bids, the second of more than £30m, rejected by the Gunners. But it emerged yesterday that Barca’s fierce rivals Real were also [...]
Commercial property values plateau amid continued economic uncertainty October 14, 2010 COMMERCIAL property values rose marginally last month, doing little to assuage fears that the market’s 13-month rally has lost steam and may return to negative growth, research suggested yesterday. Investment Property Databank (IPD) said in its monthly UK index that commercial property capital values have gained 14.2 per cent in the last 12 months. They [...]
Listed record label hopes signing will boost its stock October 14, 2010 Innovative Plus quoted Imperial Music and Media (IMM), the UK’s only publicly listed record label, has announced it will sign a major new musician in the next week. The label’s stock spiked 35 per cent last month when it announced another signing. A company spokesman said the new act would be a new “folk-to-mainstream” artist. [...]
CHRONOLOGY | LIVERPOOL OWNERSHIP BATTLE October 14, 2010 IF LIVERPOOL’S sale to New England Sports Ventures is finally completed today, it will mark the end of one of the most convoluted takeovers in the history of English football. Since the day their bid was accepted by the club’s board on 5 October, NESV have been opposed by Reds owners Tom Hicks and George [...]
Actelion shares jump as market looks for next takeover target October 14, 2010 SHARES in Actelion jumped again yesterday on new market talk the Swiss biotech group could be the next bid target in the pharmaceuticals sector. Traders said markets were speculating that GlaxoSmithKline, which has a drug partnership with Actelion, could offer 72 Swiss francs (£47.30) per share. Sanofi-Aventis launched a $18.5bn hostile bid for US biotech [...]
Ocado still overvalued, says analyst October 14, 2010 OCADO’S stock fell another 3.5p yesterday to 123.5p, despite its announcement this week that it has begun work on its new warehouse in Warwickshire. It is now trading 46 per cent below the mid-point of its initial IPO price range. But yesterday another analyst released a note warning the stock could still have a long [...]
CITY MOVES | WHO’S SWITCHING JOBS October 14, 2010 BlackRock Ian Winship has moved over from Brevan Howard to join BlackRock’s sterling fundamental fixed income team as a senior portfolio manager. Winship has 21 years of experience in the investment industry, including an 11-year stint at Aberdeen Asset Management as head of global rates and his most recent position at Brevan Howard as head [...]
