London Sports Festival moves from 3×3 basketball success to pickleball at the City of London Corporation’s Guildhall Yard
Babcock slides as Avincis deal remains unclear November 25, 2013 FTSE 100 engineering firm Babcock’s share price slid 3.1 per cent yesterday, after confirmation of a possible deal with Avincis failed to warm investors. Babcock and the helicopter services operator both confirmed on Sunday that they are in exclusive talks to establish a joint venture, although no deal value was given. City A.M. understands that [...]
Walmart names overseas boss McMillon as new chief executive November 25, 2013 WALMART yesterday named Doug McMillon as its new chief executive, replacing Mike Duke who will retire next year after five years at the helm of the world’s largest retailer. McMillon, who is currently in charge of Walmart’s fast-growing overseas empires including Asda in the UK, will take over from Duke on 29 January. Coming after [...]
Carlyle’s new US private equity fund tops $13bn November 25, 2013 CARLYLE Group said yesterday it has finished raising money for its latest US private equity fund, surpassing its initial $10bn fundraising target by $3bn. The Washington DC-based company, founded in 1987 by David Rubenstein, William Conway and Daniel D’Aniello, said the $13bn Carlyle Partners VI fund attracted 269 investors from 43 countries. Carlyle and its [...]
Banks point to small drop in mortgage lending in October November 25, 2013 THE NUMBER of mortgages approved by the UK’s banks dipped in October for the first month since February, despite a huge increase in the last 12 months. Data released by the British Bankers’ Association yesterday shows that approvals have exploded since October 2012, with lending up by a third in the past year alone. The [...]
Bottom Line: Proof that megafunds are back November 25, 2013 IF INVESTORS were waiting for proof that private equity (PE) was back, then it was provided yesterday by US giant Carlyle. The firm said it had raised a massive $13bn for its sixth US buyout fund – a third more than expected, despite this being its first foray back into domestic markets since the financial [...]
Qualcomm hit by China probe November 25, 2013 CHINESE regulators have launched an anti-trust investigation into Qualcomm, the US mobile chipmaker said yesterday, with some experts suggesting that China’s government may be seeking leverage in royalty negotiations. China’s largest mobile phone carrier is preparing a major move to 4G wireless technology next year, and Qualcomm has been hoping that will provide it with [...]
Vote called on Italy’s budget November 25, 2013 ITALIAN Prime Minister Enrico Letta’s coalition government said yesterday it will call a confidence vote on its 2014 budget, a move that will give the first clear proof of its strength since Silvio Berlusconi’s party split earlier on this month. Confidence votes, which limit the scope for time-consuming amendments, are regularly called to speed legislation [...]
Monte Paschi set to press ahead with capital increase November 25, 2013 ITALIAN lender Monte dei Paschi di Siena has called a board meeting for this morning to discuss its capital, indicating it wants to press ahead with a €2.5bn (£2.1bn) rights issue it must carry out by the end of 2014. In a statement yesterday, the Tuscan bank did not give more details. The bank’s board [...]
Apple snaps up Israeli 3D chip firm PrimeSense November 25, 2013 APPLE has bought Israel-based PrimeSense, a developer of 3D motion detection technology, the company said yesterday. An Apple spokesman confirmed the purchase but declined to say how much it spent. Israeli media reported that the figure was about $350m (£216.7m). “Apple buys smaller technology companies from time to time, and we generally do not discuss [...]
BlackBerry executives depart as CEO widens top level shake-up November 25, 2013 NEW INTERIM chief executive John Chen will work directly with BlackBerry’s marketing and engineering teams after the struggling smartphone maker announced its operations chief and marketing chief will leave as part of the ongoing reorganisation of the company. “I look forward to working more directly with the talented teams of engineers, and the sales and [...]
