Horizon Discovery stock goes to a premium on first day’s trading March 28, 2014 SHARES in life science research tools supplier Horizon Discovery got off to a sparkling debut on the first day of dealings yesterday. Cambridge-based Horizon, which has been ranked as one of the fastest growing biotechnology companies in Europe by Deloitte, raised £40m in new money as part of its initial public offering at 180p, with [...]
EU may reboot securitisations market for SMEs March 28, 2014 INVESTORS and banks will be encouraged to lend to small businesses under a series of reforms unveiled by the European Commission yesterday. Brussels wants to create fund products to make it easier for investors to buy a diversified portfolio of SME equity or debt products. And the Commission is considering reducing the cost to investors [...]
UK video game developers win tax break battle March 28, 2014 THE UK video games industry yesterday finally secured EU approval for tax relief that will make developing games in the UK more attractive to publishers. Just a quarter of games produced in the UK are expected to be eligible for the relief, which will only be offered to those deemed to be of cultural value. [...]
Old Mutual sells German insurer to joint venture March 28, 2014 UK LISTED fund manager Old Mutual has sold its German and Austrian insurance division to private equity firm Cinven and reinsurer Hannover. The all-cash deal, which will reap Old Mutual €220m (£181.9m), is part of the group’s bid to slim down its work in Europe and move its focus to faster growing markets overseas. Cinven [...]
Jamie Oliver’s Italian takes to the high seas in cruise ship deal March 28, 2014 CELEBRITY chef Jamie Oliver has struck a deal with cruise firm Royal Caribbean International to expand his Italian restaurant chain. Italian will make its sea faring debut on cruise ship Anthem of the Seas, a ship based out of Southampton from April 2015, and its sister ship Quantum of the Seas. It is the first [...]
3i harvests Quintiles investment March 28, 2014 The UK’s oldest private equity firm yesterday reaped £29m after selling down part of its stake in biotech company Quintiles. 3i sold 2.9m shares in Quintiles, which floated last May. The sale will benefit the corporate entity of 3i – which will still own three per cent of the business – and a number of [...]
Henry Boot profits up 37 per cent March 28, 2014 Sheffield-based housebuilder and property investor Henry Boot doubled revenues in its property division in 2013, helping drive pre-tax profits up by 37 per cent. Profits rose to £18.4m from £13.4m a year ago, on overall revenues that jumped to £153.8m from £103.1m. “As we move into 2014, we have an unprecedented number of profitable land [...]
Stock Spirits swings to pre-tax loss March 28, 2014 Eastern Europe-focused vodka and spirits maker Stock Spirits swung to a pre-tax loss of £8.9m for 2013, it said yesterday, after one-off costs dragged on the firm. Stock Spirits, which listed on the London Stock Exchange last October, said expenses related to the initial public offering led to a pre-tax loss of €8.7m (£7.2m) in [...]
Census to be moved online to save money March 28, 2014 DOOR-TO-DOOR surveys of all British households to compile a census are being consigned to history, after statisticians recommended switching to an internet only poll to save cash. The UK Statistics Authority said yesterday that from 2021, the population should be counted online, with help for those unable or unwilling to use the internet. In 2011, [...]
Mediterranean Oil and Gas wins Malta legal dispute against Leni March 28, 2014 LENI Gas and Oil (LGO) yesterday lost a court case against Mediterranean Oil and Gas (MOG), over its sale of an asset off Malta. The judge presiding over the case, Mr Justice Males, said that LGO’s case “fails at every stage” and that MOG had no intention to mislead. LGO brought proceedings against fellow Aim-listed [...]
