Flotation to value Legoland and Tussauds owner at up to £3.3bn October 30, 2013 ALTON Towers owner Merlin Entertainments announced the price range yesterday for its long-awaited stock market debut, valuing the firm at up to £3.3bn. Merlin, which is co-owned by private equity groups Blackstone and CVC Capital Partners, said it will be offering its shares between 280p to 330p in an initial public offering that will see [...]
Lidl launches first television Christmas ad October 30, 2013 LIDL has launched its very first UK national TV campaign promoting its luxury range as the first-growing discount chain looks to win more middle-class shoppers from its larger rivals in the Christmas rush. The adverts, which go live today, will feature products from Lidl’s deluxe range, including mulled wine, whole cooked lobster and Serrano ham. [...]
City economist on shortlist for €100,000 prize for Brexit plan October 30, 2013 UNIVERSITY professors, a City economist and even a Conservative MEP are among the finalists for a bumper €100,000 (£85,600) prize that will be awarded to the author of the best blueprint of how the UK might leave the European Union. With the prospect of a so-called Brexit raised by the possibility of a referendum following [...]
Asset managers forced to break up fee bundles October 30, 2013 INVESTORS could get more control and more transparency over the fees they pay asset managers, under proposals unveiled by the City watchdog yesterday. Financial Conduct Authority boss Martin Wheatley said he is worried that trust in the sector is being undermined by a lack of openness on fees and charges. He said a consultation will [...]
Standard Life misses targets as staff leave October 30, 2013 INSURANCE giant Standard Life yesterday announced lower-than-expected new business sales, which analysts pinned on the departure of key staff members over the summer. Star fund manager Euan Munro jumped ship to be chief executive at Aviva Investors this summer, causing some leading investors to withdraw their money from the GARS fund that he controlled. As a [...]
Competition watchdog set to double cartel investigations October 30, 2013 THE NEW competition authorities should be able to double the number of anti-trust investigations carried out thanks to better resources, a leading law firm has forecast. The Competition and Markets Authority will begin work next year, replacing the Office of Fair Trading and the Competition Commission. And according to analysis from Pinsent Masons, a 31 per cent hike [...]
UK house prices could rise 10 per cent next year on easy money October 30, 2013 HOUSE prices across Britain could rise by more than 10 per cent next year as the economy recovers and banks ramp up mortgage lending, analysts at UBS Wealth Management predicted yesterday. Banks have cleaned up their balance sheets since the crisis, the analysts said, meaning they are free to increase lending again. And with super-low interest [...]
Tories call for sponsored loos to cut TfL fares October 30, 2013 LONDONERS face another fare rise announcement this month – but Conservative assembly members at City Hall reckon they can cut fares and improve your commute. Their solution? Get sponsors for everything. And we mean everything: from TV screens to station lifts and even toilets. “It is ludicrous that TfL is currently splashing out millions of pounds [...]
MP fights European directive to maintain Britain’s quality jam October 30, 2013 LIBERAL Democrat MP Tessa Munt is trying to squash rules that would allow jam producers to drop sugar content of fruit spreads to a measly 50 per cent. Jam, the quintessentially British breakfast, lunch and (sometimes) dinner delicacy, requires high levels of sugar to maintain its gel-like quality. Munt raised the issue in a House [...]
Any other business – 31/10 October 30, 2013 ■ Maybe it was his inability to stop the world’s biggest economy from swerving dangerously close to default; perhaps it was prompted by a poll from NBC News showing all-time low approval ratings. Whatever the cause, Barack Obama’s place at the top of the celebrated Forbes list of the world’s most powerful people has been [...]
