Greece jobless rate swells to a new record high of 28 per cent February 13, 2014 UNEMPLOYMENT in Greece climbed to another record high as 2013 came to an end, swelling to 28 per cent of the labour force in November last year. According to the Hellenic Statistical Authority, the proportion of people out of work and looking rose by 0.3 percentage points, and has increased from 26.3 per cent in [...]
DX Group is looking to deliver a £170m return to the stock market February 13, 2014 THE RISING confidence in equity markets has delivered another float, as parcel service DX Group seeks to raise £170m in what is set to be one of the largest initial public offerings on London’s Alternative Investment Market this year. DX, which delivers mail as well as parcels and freight, first floated in 2004 but was [...]
SVG plumps for Clayton February 13, 2014 SVG CAPITAL, the former cornerstone investor in private equity fund Permira, yesterday said it had invested $140m (£84m) in a fund run by US firm Clayton, Dubilier and Rice. SVG, formerly Schroder Venture Group, has invested in the company’s ninth fund, which is hoping to raise $6bn. It is the second non-Permira fund SVG has [...]
IP Group raises £100m in funds February 13, 2014 INTELLECTUAL Property financiers IP Group yesterday raised a further £100m from investors – a third more than it anticipated after strong institutional demand. The company, which commercialises research from universities, originally intended to raise £75m as part of a proposal to acquire rival Fusion IP. Half of the £100m was underwritten with a further £25m [...]
Oaktree sees income jump February 13, 2014 OAKTREE Capital, which last year floated estate agent Countrywide in London, yesterday said profits rose 36 per cent last quarter compared to a year earlier. Economic net income, a measure of profits, rose to $303.2m (£182.2m) from $221.7m for the three months ending December. Incentive income rose 15 per cent to $242.5m while investment income [...]
Forecasters slash estimates for inflation levels in the Eurozone February 13, 2014 PRIVATE forecasters have slashed their estimates for inflation in the Eurozone this year and next, according to the European Central Bank (ECB). The central bank’s survey of outside projections has become significantly more conservative this quarter, with a 1.1 per cent increase in prices expected this year, and 1.4 per cent next year. At the end [...]
Government warned that its student loan sums are wrong February 13, 2014 MINISTERS consistently over estimate the amount students will repay of their loans, according to a new report from the Public Accounts Committee (PAC) out today. As a result, the amount of debt left on government books is being under-estimated and could pose a risk if calculations are not improved. There is currently around £46bn worth of [...]
Why not sow your wild oats on Valentine’s Day? February 13, 2014 STRIKE US down with Cupid’s bow, it’s Valentine’s Day. Have you bought your roses? Booked a table? Handcrafted a wood burning stove and baked your loved one some pink cookies? Well, with all that covered we thought we’d bring you a kind of anti-Valentine’s guide. It’s the best of the worst gimmicks being circulated this year. [...]
From the City to the catwalk: Not such a road less travelled February 13, 2014 LOVE isn’t the only thing in the air today, there’s also a heavy whiff of chic – London is about to be taken over by spindly legged, spectacularly-heeled, coconut water-drinking fashionistas as London Fashion Week kicks off. Over the next few days Somerset House will play host to the likes of Mulberry, Burberry and Vivienne [...]
Tate & Lyle cuts profit forecast after price war February 13, 2014 SHARES in Tate & Lyle plummeted by 16 per cent yesterday after the food ingredients group cut its full-year profit forecasts and warned that its Splenda sweetener faced intense competition from generic rivals. The company said it expected prices for sucralose – the main ingredient of its Splenda sweetener – to be around 15 per [...]
