Fintech Week London 2015: It’s startups v banks in Fintech expo drinking session September 2, 2015 Caloo callay, it's nearly London Fintech Week, where startups from Shoreditch to Shadwell will be touting their wares to execs from some of the City’s most high profile firms in a bid to become the next big thing in business. Billed as the “world’s largest fintech-focused expo”, economists, bankers and brokers from companies old [...]
Park Resorts and Parkdean to merge to create holiday giant September 2, 2015 CARAVAN holiday park operator Park Resorts is merging with rival Parkdean Holidays to create a £960m camping and caravaning giant with 73 sites across the UK. Park Resorts’ owner, the private equity group Electra Partners, said the company’s sites on the east coast and in the north west would compliment Parkdean’s sites in the south [...]
Carlyle makes £500m offer for software group September 2, 2015 INSURANCE technology firm Innovation Group has agreed to a £500m offer from Carlyle Group, and recommended that its shareholders vote in favour of the takeover. Shares in Innovation Group, which specialises in claims services, went up by 2.58 per cent following yesterday’s announcement. Carlyle-owned Axios Bidco has offered 40p per share for the firm, representing [...]
The Hut Group eyes acquisitions after securing £210m loan September 2, 2015 FOOTWEAR-to-protein shake online conglomerate the Hut Group has secured a £210m loan with its banks as it eyes further expansion. The firm, which counts retail veterans Sir Stuart Rose and Sir Terry Leahy among its backers, said it has replaced a £80m loan with a £210m credit facility provided by six banks, including Barclays and [...]
Pleased as Punch: Debts down and profits up after sale of pubs September 2, 2015 Punch Taverns said yesterday it was back on track, announcing a four per cent increase in average profits. Last week, it said it was calling time on 153 “non-core” pubs in a £53.5m deal with investment trust New River Retail, with the proceeds to be used to reduce debt. This will allow the company to [...]
Rentokil expanding into the US market with $425m acquisition September 2, 2015 RENTOKIL has agreed to buy US-based pest control business Steritech Group for $425m (£277m). The FTSE 250-listed firm said the deal will strengthen its position as the number three pest control business in the US, and will make it the third largest pest control company in Canada. Andy Ransom, Rentokil chief executive, said the firm [...]
Smurfit Kappa confirms new chief executive September 2, 2015 IRISH packaging firm Smurfit Kappa Group (SKG) confirmed yesterday that Tony Smurfit had taken over as chief executive. Smurfit is the grandson of Jefferson Smurfit, who launched the company in Dublin in 1938. He replaces previous boss Gary McCann. McCann, who announced his retirement in May, was appointed chairman of Paddy Power in July. He [...]
It’s so moneysupermarket, and it knows it – Brand Index September 2, 2015 Moneysupermarket.com has reported a 44 per cent rise in profit in the six months to the end of June. So what is the secret to this success? YouGov BrandIndex’s set of data shows that the price comparison market is characterised by memorable ad campaigns that in some cases have become part of popular culture. [...]
UK is investing more in India than any other G20 country September 2, 2015 BRITAIN is investing more in India than any other country in the G20, according to a new report out today from the Confederation of British Industry (CBI). The CBI, with PwC and the UK India Business Council, found that in the past five years, the UK had invested $22.2bn (£14.5bn) in India, making up nine per cent [...]
Aga shares heat up over rival bid from Whirlpool September 2, 2015 SHARES in Aga Rangemaster, the upmarket oven-maker, shot up by almost 10 per cent yesterday after appliances giant Whirlpool gatecrashed its agreed £130m takeover by fellow US company Middleby. The firm, whose iconic iron stoves are synonymous with the British middle class, confirmed yesterday it has received an approach regarding a possible cash offer from [...]
