3i infrastructure chief Hogg quits to join Canada Pension Plan fund February 12, 2014 THE BOSS of 3i’s infrastructure business is leaving the firm to take up a senior post at the Canada Pension Plan Investment Board (CPPIB), it emerged yesterday. Cressida Hogg, the founder and current managing partner of 3i Infrastructure, will step down at the end of next month to take up the role at CPPIB, a [...]
Spain’s Ono snubs Vodafone as pursues float February 12, 2014 SPAIN’S second largest cable operator Ono is pushing ahead with its plan for a stock market sale, its board confirmed yesterday. “The Board endorsed the pursuit by management of the steps required for a possible stock market listing of the company,” Ono said in a statement yesterday, adding that the board: “reiterated its support for [...]
Punch Taverns shelves £2.3bn debt rescue plan February 12, 2014 PUNCH Taverns will shelve its controversial plans to restructure its £2.3bn debt mountain in the face of opposition from bondholders with blocking stakes in the pub chain. Last week Punch warned that rejection of its plan to reduce its debt to £1.8bn would: “have a material negative impact on the business”. Yesterday the firm said [...]
Heineken forecasts a return to growth this year after weak 2013 February 12, 2014 HEINEKEN expects a return to revenue growth this year, led by higher beer sales in Africa, Asia and Latin America, after reporting a slowdown in several emerging markets during 2013 yesterday. The Dutch maker of Heineken lager as well as Sol, tequila-flavoured Desperados and Strongbow cider said yesterday that 2013 had been challenging with difficulties [...]
Surveyors say house shortage is lifting prices February 12, 2014 A SHORTAGE of homes is forcing up house prices across the whole of the UK, according to a leading survey published this morning. The alarming figures follow a separate data release yesterday which showed mortgage-lenders ramping up loans to first-time buyers who are anxious to get on the housing ladder. Demand in the market appears [...]
Booming China trade numbers raise eyebrows February 12, 2014 CHINA appeared to defy fears of an economic slowdown yesterday with a storming update of trading activity in and out of the country, yet analysts warned over the reliability of the data. Economic figures in recent weeks have pointed to less positive than expected growth in China for 2014. Nonetheless, yesterday’s numbers showed imports jumping [...]
Eurozone hope hit by industrial production fall February 12, 2014 THE EUROZONE economy suffered a setback at the end of last year, with figures from Brussels showing industrial production down 0.7 per cent in December. Production was still 0.5 per cent higher than the same month a year earlier, but the monthly drop has knocked hopes that the euro area is bouncing back from recession. The [...]
Reckitt brings in drugs chairman February 12, 2014 CONSUMER goods giant Reckitt Benckiser has hired a chairman for its troubled pharmaceuticals arm and to help with its strategic review as the company posted a rise in fourth quarter sales. The company said yesterday it has brought in Howard Pien, a US-based pharmaceutical adviser, to chair its RBP unit, in what analysts said was [...]
PZ Cussons hires top banker to help with hunt for acquisitions February 12, 2014 PZ CUSSONS has hired one of the City’s top bankers Caroline Silver as a non-executive director as the Imperial Leather-maker sets out to make further acquisitions in its key markets. Silver, who will join the board in April, is managing director at the investment bank Moelis & Co and has been involved in some of [...]
Supercell soars on game sales February 12, 2014 FINNISH mobile game developer Supercell said it plans to release a third game next month after reporting revenue of $892m (£538m) from its first two games during 2013. Clash of Clans and Hay Day helped Supercell to take around $2.4m a day last year, with earnings for the year growing to $464m, up from $51m [...]
