Slow month for firms’ orders as GDP announced October 24, 2013 BRITISH manufacturers recorded lower orders this month, after a strong September, according to a survey by the Confederation of British Industry (CBI) released yesterday. The balance of firms reporting a rise in orders fell back to minus four per cent, from nine per cent last month, which was the highest since the crash. However, 14 [...]
Companies with foreign owners add significant amount of value October 24, 2013 THE FEW UK businesses which are owned internationally punch above their weight in terms of value added to the economy, according to information released yesterday. Although less than one per cent of the UK’s millions of firms are foreign-owned, they make up more than a quarter of gross value added, according to new statistics. The figures, which [...]
KKR comes out top in private equity stakes October 24, 2013 WALL Street colossus KKR yesterday beat its industry rivals in the private equity stakes after posting better than expected third quarter results. The company, which pioneered the leveraged buyout as Kohlberg, Kravis & Roberts in the 1980s, said the value of its private equity portfolio rose 5.9 per cent for the three months ending September. [...]
Permira vows to protect heritage in £300m Dr Martens brand deal October 24, 2013 PRIVATE equity firm Permira yesterday pledged to “respect the heritage” of iconic British footwear brand Dr Martens after it paid £300m to snap up the family-run firm which makes the boots. The deal will see Northampton-based R Griggs Group join Permira’s other fashion brands, which include Hugo Boss and New Look. David Suddens, chief executive [...]
St James’s Place sees assets rise despite shift in pension tax policy October 24, 2013 NEW PENSIONS business at wealth manager St James’s Place (SJP) fell last quarter amid looming government changes to pension tax policy. Sales fell four per cent versus a year ago on the back of changes proposed by chancellor George Osborne to reduce the limit on how much well-heeled savers can put into a pension pot [...]
All Irish eyes are smiling at debut London awards October 24, 2013 CITY slickers rubbed shoulders with celebrities yesterday lunchtime at the inaugural London Irish Business Awards ceremony, held at the London Stock Exchange. Organised by Ireland Inc, a private sector body set up to advance Irish business interests, the gathering handed out gongs to corporates and individuals it considered to have made an outstanding contribution to [...]
Mayfair office pimps its desk October 24, 2013 MOST employees have to make do with a swivelly chair and a corporate mousemat to make them feel at home at work, but one Mayfair office has taken office furniture to the extreme by installing a £40,000 desk. Patalab Architecture, the firm behind the £500,000 refurb of the Capital and City-owned building, called the piece [...]
Bricking it: Lego men are taking over the world October 24, 2013 THE little figures created by Danish toy company Lego are a rapidly exploding population – and according to webcomic XKCD are now on track to outnumber humans by 2019. Lego began producing their iconic interlocking bricks in 1949, but the minifigures didn’t appear on the scene until 1978, and have helped make Lego the world’s [...]
Debenhams boss backs call for rates reform October 24, 2013 DEBENHAMS chief executive Michael Sharp became the latest retail boss yesterday to call on the government to overhaul the way in which it determines business rates, describing the current system as “outdated”. “It is clear that the current calculation is archaic and does not fit for the modern consumer world of today,” Sharp said. However, [...]
Bottom Line: Revamp can’t happen fast enough October 24, 2013 CHANGE can be good – great even – but it always come with risks. For months now Debenhams’ flagship Oxford Street store has been covered in scaffolding, with shoppers pointed towards a temporary entrance before being directed into a store that looks more like a building site than a shopping haven. All signs point to the [...]
