Ocean Wilsons warns on Brazilian real weakness as profits plummet August 18, 2015 INVESTMENT company Ocean Wilsons yesterday reported a sharp fall in profits after the value of the Brazilian real tumbled. The Bermuda-based firm saw a reduction in half-year profits of 58.6 per cent at $19.2m (£12.3m), down from $46.2m for the first six months of the previous year. The 17 per cent fall in the value [...]
Empiric goes shopping for first student property in Falmouth August 18, 2015 EMPIRIC Student Property said yesterday it has bought its first student scheme in Falmouth for £8.1m as the company continues its buying spree. The listed student accommodation provider said Maritime Studios comprises of 146 large studio apartments and is located close to Falmouth University’s Woodlane campus on Pendennis Rise. It has bought the freehold to [...]
London drives frenzy of global property deals August 18, 2015 INVESTMENT activity in commercial property rose sharply in the first half of the year, new figures show, with cities, including London, New York and San Francisco, continuing to steal the spotlight. Global investment in commercial real estate reached $318bn (£204bn) at the end of June, 15 per cent higher than the same time last year, [...]
FTSE 100 bosses have old names August 18, 2015 FTSE 100 chiefs may be upset to learn that their once commonplace names have had their day. According to the Office for National Statistics, no female FTSE 100 chief exec shares a name with one of the top 10 most popular baby names in the UK. As for the men, none of the top boss [...]
H&M July sales beat expectations August 18, 2015 SWEDISH fashion giant H&M posted a better-than-expected rise in sales last month, thanks to improvements to its website and after broadening its home and beauty ranges. The world’s second-biggest clothing retailer said sales in local currencies rose by 16 per cent in July, compared with the same time last year, beating expectations. Analysts on average [...]
Fitch ups Sony investment grade status to positive August 18, 2015 Sony inched closer to returning to its investment grade status yesterday after ratings agency Fitch amended its credit outlook from “stable” to “positive”, indicating that a ratings upgrade may be on the horizon. The agency also affirmed its “BB” rating, three grades below investment grade. Efforts to restructure were key to Sony’s improving profitability, in [...]
German car part firm accelerates $500m merger August 18, 2015 GERMAN industrial filter maker Mann + Hummel has agreed to buy US peer Affinia to boost its annual sales by more than a third to $1bn (£640m) and gain access to the US market for heavy-duty and hydraulic filters. Privately-held Mann + Hummel said it would not disclose the terms, but a regulatory filing by [...]
Cargill feeds its salmon tank in €1.35bn EWOS takeover from Altor and Bain Capital August 18, 2015 Privately owned agribusiness giant Cargill yesterday announced it is buying Ewos, an aquaculture firm, for €1.35bn (£960m). The purchase of the Scandinavian firm marks Cargill’s entry in the salmon feed market. Ewos currently manufactures over 1.2m tonnes of salmon feed, about one-third of the total market, for a global client base. Sarena Lin, president of [...]
BT unveils Mike Inglis as newest board member August 18, 2015 UK TELECOMS giant BT has appointed tech industry veteran Mike Inglis as a director and member of its technology committee. Inglis, who competed in the Clipper Round the World yacht race in 2013, jumps ship from Ilika, a materials technology company listed on London’s junior Alternative Investment Market. He also holds director positions at set-top [...]
Accounting giant EY swoops on Silicon Roundabout firm Seren August 18, 2015 Business advisory firm EY yesterday announced it is buying Seren, a digital design consultancy based in Silicon Roundabout. Seren chief executive Ben Langdon will continue as boss of what will now be EY-Seren. Seren co-founders Catriona Campbell and Terry Heath will become senior advisers to EY in the UK and EY-Seren. Langdon said: “Seren and [...]
