Online growth at record high December 16, 2014 SHOPPERS splurged £12.1bn online last month thanks to the sales frenzy surrounding Black Friday weekend, marking a record spike in November sales. E-tail industry body IMRG and advisory firm Capgemini said online sales increased by 37 per cent on the previous month – the biggest October-November rise in the 14-year history of its index. Electricals, [...]
Global growth slows despite oil price boost, PMI data shows December 16, 2014 Global growth is experiencing an end-of-year cooling despite plummeting global oil prices, a raft of data has shown. The flash Eurozone services purchasing managers’ index (PMI) – a survey of private sector firms in the service sector – edged upward to 51.9 for December from November’s 51.1, according to figures released by Markit yesterday. A [...]
Hector Sants lands new jobs at Oliver Wyman and Abu Dhabi December 16, 2014 THE CITY’S former top regulator Sir Hector Sants is advising Abu Dhabi Global Market (ADGM) on the establishment of a new finance hub in the emirate. It was one of two new jobs announced by the ex-chief of the Financial Services Authority yesterday. Sants will advise ADGM over the next six months on the formation of its [...]
Royal Mail has taken a battering but is still valued brand – Brand Index December 16, 2014 THE CHRISTMAS period is always one of great stress and pressure for the delivery sector. With Royal Mail’s hold over the industry beginning to be threatened, I can use YouGov BrandIndex data to assess how it has been performing in the run up to this crucial time. Of course, Royal Mail has been repeatedly in [...]
Autumn cooling for the capital’s housing market December 16, 2014 UK HOUSE price growth slowed in October, official figures revealed yesterday, with the cost of housing in London falling compared to earlier in the year. Prices in the capital were 1.9 per cent lower than in August, the Office for National Statistics (ONS) said. The average residential property in London still costs in excess of [...]
Repsol aims for the top with $8.3bn bid for Canadian oil firm December 16, 2014 SPANISH firm Repsol has agreed to buy Canadian oil company Talisman Energy for $8.3bn (£5.3bn), the equivalent of $8 per share. This price represents a 60 per cent premium to last month’s share price. According to Repsol, its output will increase by 76 per cent to 680,000 barrels of oil equivalent per day, and its [...]
InterContinental Hotels buys US boutique hotel chain for $430m December 16, 2014 INTERCONTINENTAL Hotels Group (IHG) said yesterday it has agreed to buy an American chain of boutique hotels for $430m (£273m). The hotelier, which owns the Holiday Inn and Crowne Plaza brands, has been expanding its stable of brands to appeal to new groups of customers. In 2012, it launched Even hotels, a boutique chain for [...]
Jelf funds deal with £25m loan December 16, 2014 INSURANCE broker Jelf has bought Yorkshire-based Beaumonts Insurance Group for £10.1m, with a further £8.28m to follow if certain performance targets are hit. Jelf used a new £25m loan from Barclays to fund the deal. The company said this new three-year facility will also be used to repay existing debt of £13.7m. Alex Alway, Jelf [...]
Scottish power in £1.1bn boost December 16, 2014 ENERGY regulator Ofgem has approved £1.1bn in funding for a new subsea power transmission cable in northern Scotland. The sum awarded is £105m less than the amount requested by SSE subsidiary Scottish Hydro Electricity Transmission. Ofgem said this decision was made “to ensure consumers pay no more than necessary”. The new cable, which will connect the [...]
Norwegian buyout firm creates oil service conglomerate December 16, 2014 HITECVISION, a Norwegian private equity firm focused on the offshore oil and gas industry, yesterday launched new oil service conglomerate Global Maritime Group by merging five companies in its portfolio. The Stavanger-based buyout firm believes that as a group the companies are better positioned to capture a greater share of the market. The largest member [...]
