CES 2015 in Las Vegas: The greatest show on earth January 4, 2015 This week 3,500 of the world’s biggest tech giants are coming to Sin City. Las Vegas will be transformed from a gambling hub in the middle of the desert into the nerve centre of global technology as Samsung, Sony, LG as well as hundreds of smaller tech firms come to the annual Consumer Electronics Show [...]
Tui Travel spent £29m on senior staff in last year January 4, 2015 Holiday company Tui Travel paid out a total of £29m to its directors in the 12 months to the 30 September, with chief executive Peter Long pocketing total remuneration of £13m, compared with £11m in 2013. The payouts were revealed in Tui’s results for the 2014 financial year, which showed that revenue had fallen by [...]
Bain Capital in third attempt to win over TI January 4, 2015 AMERICAN private equity house Bain Capital is preparing a £1.2bn bid for British manufacturer TI Automotive, its third attempt to form a deal with the car parts supplier. Boston-based Bain was previously said to be on the verge of buying TI for almost $2bn (£1.3bn) in November 2013. However, this transaction fell apart after the [...]
Overseas interest in UK Ports Authority January 4, 2015 ASSOCIATED British Ports is believed to have received bids from foreign investors for a 33 per cent stake previously held by Goldman Sachs and Prudential. Interested parties are said to include Canada Pension Plan and the Abu Dhabi Investment Authority. ABP did not comment.
Who’s lining up in the CEO sack race? Ladbrokes’ odds on Standard Chartered’s Peter Sands January 4, 2015 There were a lot of interesting moves at the top in 2014, with chiefs taking P45s left right and centre – Harriet Green at Thomas Cook, Simon Calder at Mothercare and Tesco’s Philip Clarke to name but a few. But who will be saying sayonara in 2015? Well, sadly we don’t have a crystal ball [...]
Bernie Ecclestone’s son-in-law James Stunt spotted on Clapham Northside January 4, 2015 Spotted: Bernie Ecclestone’s son-in-law James Stunt and his ostentatious vehicle entourage was spied cruising along the less-than-conspicuous Clapham Northside yesterday. The billionaire art dealer, married to Bernie’s daughter Petra, is known for travelling around London in a five-strong cavalcade of plush cars: two Range Rovers, two Rolls-Royces and a Lamborghini. All black. How very Batman, [...]
City Moves for 05 January 2015 | Who’s switching jobs January 4, 2015 Weightmans The law firm has announced three appointments. Douglas Keir joins as a partner, and Sarah Phillips and Julia McDonald (pictured) join as associates, in its insurance team. They collectively have 40 years’ experience in law, and arrive from Anderson Strathern Solicitors. London Capital Group The Aim-listed online trading firm has announced two appointments. Nicholas [...]
Terra Firma strikes lender deal for Four Seasons’ debt burden January 4, 2015 British private equity giant Terra Firma has negotiated a reprieve for its Four Seasons Health Care business with the company’s lenders, it emerged yesterday. The Guy Hands-owned buyout firm has reached a deal to remove a clause in the care home company’s loan agreements requiring profits to be above a stated threshold. Four Seasons’ earnings [...]
Best of the Brokers for 05 January 2015 January 4, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com RECKITT BENCKISER S&P Capital IQ maintained its “strong sell” rating, and revealed that the firm’s shares are now trading 21 per cent above its target price. The broker also stated that target price had been raised by two per cent for 2014, while [...]
Retailers’ woes in focus after a festive slump – London week ahead January 4, 2015 RETAILERS’ woes will be centre stage this week as J Sainsbury, Tesco, WM Morrison and Marks & Spencer update the market after what is expected to have been a relative slump in trading over the festive season. Tesco’s trading announcement on Thursday will be of particular interest, as new chief executive Dave Lewis will outline [...]
