Germany backs quota for female non-executives November 18, 2013 CHANCELLOR Angela Merkel’s conservatives and the Social Democrats (SPD) agreed yesterday to introduce legislation requiring German companies to allot 30 per cent of their non-executive board seats to women from 2016. Negotiators from the two sides are in talks to form a coalition government. They said the agreement would involve listed companies and those with [...]
Bottom Line: Gilbert is not the only one who got a deal November 18, 2013 AFTER Macquarie swooped in with an eleventh hour bid last week, the long-rumoured acquisition of Swip by Aberdeen was all looking a bit uncertain. But yesterday chief executive Martin Gilbert prevailed – handing over £550m in shares in return for around £136bn of assets under management, plus a deal to manage assets on behalf of [...]
Aberdeen soars after winning battle for Swip November 18, 2013 INVESTORS sent Aberdeen Asset Management to the top of the FTSE 250 yesterday after it confirmed a deal worth up to £650m to buy Scottish Widows Investment Partnership (Swip), making it the biggest investment house in Europe. The long-rumoured deal will see Aberdeen pay Swip’s current owner Lloyds £550m in shares, plus an extra £100m in [...]
Clegg mulls tax for property owners living outside the UK November 18, 2013 PEOPLE living outside the UK and investing in British property do not pay enough tax, deputy prime minister Nick Clegg said yesterday, hinting at a crack down on overseas cash in next month’s Autumn Statement. House prices in London are rising at around 10 per cent a year. While most buyers across the market are UK-based, [...]
New Mini goes large with £750m investment November 18, 2013 BMW revealed its biggest ever Mini yesterday at Oxford – one of three plants being upgraded in a £750m investment plan. Prime Minister David Cameron heaped praise on the iconic car – and the 5,500 workers’ jobs kept safe by work at Oxford, Ham Halls and Swindon.
Gulf firms seal further plane deals in Dubai November 18, 2013 AIRBUS and Boeing added a further $5bn (£3.1bn) in plane parts deals yesterday, following a $150bn deal spree on the first day of the Dubai Air Show. Abu Dhabi’s state investment vehicle, Mubadala, signed separate deals with the two firms agreeing to supply a total of $5bn-worth of raw materials and build plane parts. Boeing [...]
Miliband adds childcare to list of policies funded by bank levy November 18, 2013 LABOUR leader Ed Miliband yesterday revealed details of his plan to pay for more free childcare for working parents with the proceeds of the banking levy – a funding tactic that the Conservatives said was impractical. Miliband said he would offer 25 hours of free care for children aged between three and four, up from [...]
Paul Sykes will give backing to Ukip campaign November 18, 2013 WEALTHY businessman Paul Sykes said yesterday he would “do whatever it takes” to help the UK Independence Party (Ukip) fight next year’s European Parliament elections. Ukip is threatening to steal further support from Prime Minister David Cameron’s Conservatives and poses one obstacle to his return to Number 10 at the next General Election in 2015. [...]
Pindar to leave Capita after 26 years at the top November 18, 2013 OUTSOURCING firm Capita yesterday said its longstanding chief executive Paul Pindar will step down next year, after 26 years with the company. He will be succeeded by the current deputy chief executive and deputy operations chief Andy Parker, effective from 1 March 2014. Pindar, who has been at the helm of the FTSE 100-listed firm [...]
State-owned RBS reveals talks to offload equity derivatives business to third party November 18, 2013 ROYAL Bank of Scotland (RBS) has said it is in talks to sell its retail investor products and equity derivatives business, as it slims down its investment bank. Several industry sources have identified BNP Paribas, France’s biggest bank, as front-runner to buy the business. RBS, which is 81 per cent owned by the government, declined [...]
