Survey shows UK stays top for competitive tax December 2, 2013 THE UK has held onto its position as having the most attractive tax regime among peer countries, according to a leading survey released yesterday. Reforms made in recent years have markedly improved Britain’s standing and made it a more appealing to large companies, the report by KPMG said. The survey of executives at large businesses operating [...]
Servelec valuation approaches £150m as shares jump on debut December 2, 2013 SOFTWARE and services company Servelec yesterday floated its shares on the main market of the London Stock Exchange, reaching a valuation of £146.9m. Servelec’s software is used in the automation of utilities, broadcasters, lighthouses and North Sea oil rigs, a business that brought in revenues of £39.4m last year with profits of £10.9m. Servelec is [...]
Former BBC director general Lord Birt made chair of Host December 2, 2013 LORD Birt, the former BBC director general, was yesterday made chairman of Britain’s biggest internet hosting company Host Europe Group, amid an ongoing management shake-up at the UK-based firm. Birt, who was director general from 1992 to 2000, will take up the non-executive role at the company next month. Birt’s appointment comes just weeks after [...]
Rathbones boss Pomfret to step down next year December 2, 2013 RATHBONE Brothers veteran chief executive Andy Pomfret yesterday said he was retiring from the company next year after a decade at the helm of the investment firm. Pomfret, who became chief executive in 2004 after joining the upmarket fund manager as finance chief in 1999, will stand down at the end February. The company, which [...]
Analyst Views: What do you think about Rathbone’s change at the top? December 2, 2013 STUART DUNCAN | PEEL HUNTIt’s clearly been a fairly well managed process and seems pretty much business as usual for the company at this point. It’s been a transition that has been well thought through and it’s a good example of foresight to put these plans into place earlier this year. DAVID MCCANN | NUMISThis [...]
Insurers warn of insolvencies as low interest rates hit bottom line December 2, 2013 INSURERS are warning that low interest rates could cause insolvencies in their industry, a report from Linklaters has found. Two thirds of insurers are looking to explore new markets, according to the global law firm, as low rates mean they are unable to turn a profit. The report found that 65 per cent are looking [...]
Andor looks for White Knight after fresh bid December 2, 2013 SCIENTIFIC camera maker Andor Technology has once again shot down Oxford Instruments’ attempts to negotiate a takeover, labelling the firm’s £159m offer as disappointing. Andor said it is still pursuing its long-term stand-alone growth strategy and also actively soliciting a recommendable offer from Oxford Instruments or any other parties. Oxford Instruments, which designs and manufactures [...]
Debenhams relaunches flagship store December 2, 2013 DEBENHAMS lined up its roster of British fashion collaborators yesterday to help celebrate the relaunch of its Oxford Street flagship store. Henry Holland, Jenny Packham and Julien Macdonald – who all design collections for the high-street retailer – were among 20 special guests marking the completion of the £40m makeover.
Hilton hotel and Aramark price New York floats December 2, 2013 THE US new issues market showed no signs of slowing down yesterday after two American hospitality giants with substantial UK operations priced their forthcoming market floats. Hotel operator Hilton Worldwide and catering company Aramark, both backed by private equity firms, announced plans to raise up to $2.37bn (£1.44bn) and $833.8m respectively in initial public offerings [...]
Elephant & Castle mall sold off with plan to build new homes December 2, 2013 ELEPHANT & CASTLE Shopping Centre has been sold for £80m, with the new owners pledging to carry on with plans to demolish the site and replace it with rental homes. Pension fund APG and real estate group Delancey have bought the site from regeneration specialist St Modwen and Kuwait’s Salhia Real Estate, who owned the [...]
