New Lord Mayor a Woolf in women’s clothing November 12, 2013 NEW LORD Mayor of London Fiona Woolf last night made her case for more diversity and inclusion in business as she became only the second woman to take up the post. “There has always been a moral case for diversity and inclusion. But there is also a business case – and now it is a [...]
Lloyd’s of London comes to a halt to honour Armistice Day November 12, 2013 THE UNDERWRITING room at Lloyd’s of London fell silent yesterday morning as employees gathered to observe the traditional two minute silence to mark the 95th anniversary of the World War One armistice. Chelsea pensioners joined staff at the ceremony, which saw a ceremonial piper play to the assembled crowds before a wreath-laying ceremony underneath the floor’s [...]
Retail demand on the rise says Hammerson November 12, 2013 BRITISH and overseas retailers in search of bigger stores are driving demand across Hammerson’s shopping centres and retail parks, the property group’s chief executive said yesterday. The owner of Brent Cross shopping centre said tenant sales were flat in the third quarter to 30 September while occupancy – though marginally down – remained around its [...]
Redrow and McCarthy & Stone lifted by housing market jump November 12, 2013 REDROW boss Steve Morgan yesterday hit out at the country’s planning system and said the effort in obtaining detailed consent was holding it back from building more homes. The housebuilder posted a 52 per cent jump in private reservations to 1,400 homes in the first 19 weeks of its financial year since the beginning of [...]
Fund manager Tritax launches £200m float to buy big boxes November 12, 2013 COMMERCIAL property fund manager Tritax yesterday announced a £200m flotation to launch the first listed pure “big box” UK real estate investment trust (REIT). “Big boxes” are massive warehouses – typically bigger than 500,000 square feet – and Tritax said it would let them to “institutional-grade tenants” on long-term leases of up to 25 years. [...]
Finncap shares the spoils of market pick up November 12, 2013 BROKER Finncap paid its staff a quarterly bonus for the first time in six years this spring after enjoying its best start to the year since the financial downturn. The broker, which looks after more junior stock market listed companies than any other firm, enjoyed a 22 per cent rise in revenue for the six [...]
Prime broker veteran to take reins at hedge fund trade body November 12, 2013 EUROPE’S leading hedge fund trade body yesterday named one of investment banking’s top prime brokerage veterans as head of the organisation. The Alternative Investment Management Association, which represents 1,300 hedge funds and investment firms, said former Barclays and Morgan Stanley man Jack Inglis would be made chief executive in the new year. Inglis takes the [...]
French flooring firm Tarkett lays foundations for Parisian float November 12, 2013 PRIVATE equity-backed French flooring maker Tarkett will price a planned stock market listing in Paris in a range of €27.75 to €33.90 a share, the company said yesterday. Last month, Tarkett submitted a registration filing for an initial public offering (IPO) in which it said US private equity firm KKR, which owns half of the [...]
KKR snaps up US landscaper Brickman Group in £1bn deal November 12, 2013 US PRIVATE equity titan KKR yesterday won the race to buy US landscaper The Brickman Group in a deal worth $1.6bn (£1bn). The firm, managed by Wall Street raider Henry Kravis and his cousin George Roberts, beat off a host of rivals – thought to include Blackstone, TPG Capital and UK private equity stalwarts CVC [...]
Lending fund launched for Spain November 12, 2013 Listed private equity firm JZ Capital Partners yesterday launched a lending fund to back small and medium sized businesses in Spain. The company has joined forces with Wall Street firm Avenue Capital Group to launch the business, called Toro Finance, which aims to lend €400m (£335m). JZ has stumped up €26m to take a 50 [...]
