HgCapital sells off German toy manufacturer Schleich to Ardian May 19, 2014 GERMAN toy maker Schleich, known for its lifelike figurines, has been bought by French private equity firm Ardian from its British owner HgCapital, the two private equity companies said yesterday. Neither side disclosed the price of the transaction, which the Frankfurter Allgemeine Zeitung yesterday reported was €220m (£179m), citing unnamed sources in the finance industry. [...]
City Moves for 19 May 2014 | Who’s switching jobs May 19, 2014 Colliers International The property company has announced the appointment of Henry Peto as a director in its tenant representation division. He was most recently at Cushman & Wakefield, where he worked in its London markets team. Squire Sanders The legal practice has appointed Gary Paddison as a partner in its real estate practice group. He [...]
BT starts broadband hiring drive May 19, 2014 BT has pledged today to hire 1,600 new engineers to work on its Openreach phone and data network. The telecoms firm said the jobs are being created by its efforts to connect the whole country to superfast broadband lines. More than two-thirds of UK premises in the UK are now near an Openreach cable, the [...]
Arrests after Turkish mine deaths May 19, 2014 Turkish police detained 19 people, including mining company executives and personnel, as an investigation into last week’s mine disaster got underway and the last of the 301 victims were buried yesterday. The detentions were the first of the inquiry and came five days after a fire sent deadly carbon monoxide coursing through the mine in [...]
Libya set to get new government May 19, 2014 Libya’s new Prime Minister Ahmed Maiteeq has formed a government pending parliamentary approval this week, officials said yesterday, after the country went nearly two months without a functioning government. Libya, a major oil producer, badly needs a government to try to impose some authority on a country effectively ruled by the militias who helped topple [...]
Best of the Brokers for 19 May 2014 May 18, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com INTERTEK Shore Capital keeps its “sell” rating with a fair value estimate of 2,700p following the testing firm’s trading update on Friday. The broker has cut its full-year revenue forecast by four per cent to reflect a slower-than-expected recovery and unfavourable currency movements. [...]
London Report: Royal Mail set to deliver first annual results May 18, 2014 YEARLY results for Royal Mail this week are likely to inflame anger over the company’s issue price, as analysts expect a significant profit leap. JP Morgan said recently it “remains bullish” and set a target price of 756p a share – a huge jump from the 330p offer price. In economic news, the Bank of [...]
Wall St The Week Ahead: US small-caps are likely to pick up again May 18, 2014 THERE are many reasons for the sharp underperformance of small-cap stocks in the past six weeks, but the recent correction may be winding down, which means investors worried about a broader sell-off might be able to breathe more easily. The Russell 2000 briefly dipped into correction territory – down 10 per cent from its March [...]
Why India’s political earthquake is the most significant turning point of 2014 May 18, 2014 GENOA – I find myself in this predictably beautiful Italian city, about to visit the house of Christopher Columbus. Like most American schoolchildren, I remember finding the fact that Columbus discovered the new world by mistake uproariously funny, as the “Admiral of the Ocean Sea” literally bumped into the Americas, sitting annoyingly in the way [...]
How powerhouse London beat New York to become the best city in the world May 18, 2014 LONDON has, for the first time, claimed the top spot as a centre for business, finance and culture in Cities of Opportunity – PwC’s sixth annual index of 30 major cities internationally. The capital has edged ahead of New York since last year, with Singapore coming in third. The index covers an impressively wide range [...]
