GLI Finance mulls new listing September 30, 2013 Business lender GLI Finance yesterday said it would consider hiving off its collateralised loan obligations (CLO) portfolio and listing it on the stock market. The firm, which lends to small and medium sized enterprises, said a move to separate the CLO portion of the business would reduce risk and give greater certainty for investors.
Blackstar hit by Rand plunge September 30, 2013 Blackstar Group, the London listed South African finance firm, yesterday said a weakened Rand was to blame for a £7m hit to shareholders. Net asset value fell from 101p per share to 91p for the six months ending June due to a nine per cent Rand slide. Blackstar owns a variety of firms including Times [...]
Axa private equity renamed September 30, 2013 Axa Private Equity yesterday completed its carve out from parent company Axa Group, renaming the business Ardian. The name is derived from the word hardjan, used in age old European languages, which it says “embodies a sense of courage and signifies a code of behaviour which all fit well with the culture of the company”.
Eurostar and Keolis to bid for East Coast line September 30, 2013 TWO COMPANIES backed by France’s national railway have launched a joint bid to run the East Coast main line, which is due be re-privatised by the government before the next general election. Eurostar and Keolis, which are both majority-owned by SNCF, announced yesterday that they intend to compete for the rail franchise – the first [...]
Apple dethrones Coca-Cola as the world’s most valuable brand September 30, 2013 APPLE and Google have unseated Coca-Cola as the number one global brand, according to a report yesterday from consultancy Interbrand into the top 100 global brands. Computer giant Apple had a brand valuation of $98.3bn in 2013, moving the company from the second spot in 2012 to the top of the list this year. “Every [...]
Advertising to hit £12.5bn in 2013 September 30, 2013 UK advertising spending is expected to grow to more than £12.5bn in 2013 on the back of the 4G promotional push by mobile operators, and BSkyB and BT’s campaigns around rival TV sports packages. Media buying agency ZenithOptimedia said the 2.9 per cent jump in 2013 is spurred by growth in mobile ads and higher [...]
UK holds fund management position September 30, 2013 The UK has managed to fend off a challenge by Japan to stay the second largest fund management centre in the world behind the US, a report out yesterday revealed. Japan remains third with a 7.5 per cent market share. The UK is second with 8.3 per cent, while the US dominates with 45 per [...]
SSE shares edge up as it commits to dividend rise September 30, 2013 SSE’s shares rose slightly yesterday, after the energy supplier reassured investors that it would be increasing its dividend this year. The FTSE 100 firm’s shares plummeted last week, wiping £1.15bn off its value, after Labour leader Ed Miliband proposed to freeze energy bills until 2017 if elected. In yesterday’s trading update, the big six energy [...]
Brookfield Property makes $5bn bid for 99 Bishopsgate owner September 30, 2013 BROOKFIELD Property Partners yesterday offered to buy the 49 per cent of Brookfield Office Properties (BPO) it does not already own for $5bn (£3.1bn) in a deal that would create one of the world’s largest commercial property firms. Both companies are subsidiaries of Toronto-based Brookfield Asset Management which manages about $175bn in power, property, infrastructure [...]
Russia’s Rosneft offers $1.5bn for minority stakes in TNK-BP September 30, 2013 RUSSIAN oil giant Rosneft yesterday said it plans to buy the remaining shares in TNK-BP Holding for a fraction of the price it paid BP and a group of oligarchs for their stakes, in a worrying development for minority shareholders in Russian companies. Rosneft bought the holding company and its parent TNK-BP last year in [...]
