Nick Clegg opens state-backed startup fund October 14, 2013 Deputy Prime Minister Nick Clegg yesterday opened a new startup accelerator in Euston, which is backed by Telefonica and the government. Wayra UnLtd is a joint venture from two of the largest supporters of UK tech startups and backed by £1m of state funding.
Russian credit card float to aid Goldman coffers October 14, 2013 GOLDMAN Sachs is set to net a multi-million dollar windfall after its stake in Russian credit card firm TCS Group was priced at the upper end of the range for a forthcoming float in London. TCS, which offers credit cards to people living in rural Russia, is offering global depository receipts (GDRs) at $14 to [...]
Software group Unit4 becomes target of £840m takeover bid October 14, 2013 A DUTCH software company that serves blue-chip UK firms such as EDF Energy and Lloyds Bank is being stalked by a pack of private equity suitors hoping to buy the company, the firm said yesterday. Unit4, which is listed on the Amsterdam Stock Exchange, said it had been approached by private equity firms about a [...]
Royal carpet maker Brintons to tap emerging healthcare boom October 14, 2013 CARPET maker Brintons yesterday laid ambitious plans to crack the burgeoning hospital carpeting market amid a looming increase in the number of people demanding upscale hospital care. The Kidderminster-based company, founded when King George III was on the throne in the 1780s, has unveiled a healthcare range for use in clinics, hospitals, and care homes. [...]
Ikea sales lifted by Russia and China demand October 14, 2013 IKEA, the world’s largest furniture retailer, said yesterday it had gained market share in nearly all markets last year as it posted a 3.1 per cent rise in full-year sales. The Swedish chain, which is viewed as a bellwether for global consumer demand because of its size, posted sales of €27.9bn (£23.7bn) in the 12 [...]
Helical Bar buys Network Rail offices in Paddington for £31m October 14, 2013 PROPERTY developer Helical Bar has bought Enterprise House in Paddington for £31m through a sale and leaseback with Network Rail Infrastructure. The rail network operator has agreed a 20-year leaseback of the Art Deco building at a rent of £40 per square foot, generating an annual rental income of £1.8m, Helical said yesterday. The group [...]
Thorntons’ shares rise as activist investor Crystal Amber lifts stake October 14, 2013 SHARES in chocolatier Thorntons surged more than four per cent yesterday after activist investor Crystal Amber once again increased its stake in the company. Crystal Amber, which also owns shares in retailer N Brown, has boosted its holding to 7.06 per cent as it bets on a recovery at the firm. This comes just a [...]
Hermes Real Estate to lend to property market for first time October 14, 2013 Hermes Real Estate Investment Management Limited is to make its first foray into commercial property lending as the fund manager looks to exploit the gap in the market created by the retreat of bank finance. The company announced yesterday that it has launched the Hermes Real Estate Senior Debt Fund to invest in loans against [...]
McBride shares hung out to dry as sales knocked by competition October 14, 2013 MCBRIDE, the maker of own-brand household and personal care products, posted a three per cent fall in first quarter sales yesterday after deciding to wind down its contract manufacturing business last year. The soap and laundry detergent company had already warned the City that the exit of its contract cleaning business – which made products [...]
Analyst Views: Has McBride’s update changed your outlook for the company? October 14, 2013 DARREN SHIRLEY SHORE CAPITAL With McBride continuing to exit low-margin areas of contract manufacturing, we are not surprised that total revenues declined…We expect constant currency sales to remain slightly negative through the second quarter with second half sales to benefit from a stable base as the contract withdrawals are annualised. DAMIAN MCNEELA PANMURE GORDON The [...]
