Raiffesen ups bad loan book September 15, 2013 RAIFFESEN Bank International raised its forecast for 2013 bad loan provisions yesterday, citing developments at its corporate customer business. Emerging Europe’s second biggest lender had previously guided for a net provisioning need at a similar level to the just over €1bn (£628m) it booked in 2012. Now it expects an increase to between €1.1bn and [...]
The raising of the Costa Concordia September 15, 2013 ENGINEERS will today attempt to salvage the Costa Concordia cruise liner, which ran aground in Italy in January 2012. Twenty-four enormous chains will be used to haul the stricken boat back onto an even keel over the course of two days, in a rescue that has already cost £500m.
Bathroom fitter Grohe considers future sale plan September 15, 2013 EUROPE’S largest bathroom outfitter Grohe has attracted a handful of bids from companies wanting to takeover the business despite tentative plans to float the firm on the stock market. The German giant, led by former Vodafone executive and City grandee David Haines, attracted three bids from rival bathroom outfitters and two more bids from private [...]
IGas in talks with local firms and landowners in Barton over shale September 15, 2013 SHALE gas explorer IGas, which last week confirmed its plans to start drilling at Barton, Greater Manchester, is in talks with landowners and industrial companies in the area about drilling access and gas supply deals. Chief executive Andrew Austin told The Sunday Telegraph that the Aim-listed energy company hopes to agree new partnerships over the [...]
TPG Capital makes real estate foray with P3 warehouse deal September 15, 2013 TPG CAPITAL, the US private equity firm founded by billionaire investor David Bonderman, has hoovered up a portfolio of warehouses once destined for a float on London’s stock market. The buyout firm, which has offices in St James’s employing about 60 people, agreed to buy a group of warehouses overseen by PointPark Properties (P3), according [...]
Manolo Blahnik has well-heeled £1.1m year’s pay September 15, 2013 SHOEMAKER to the stars Manolo Blahnik was paid £1.1m last year by his luxury shoes and handbags firm, according to Companies House figures. The Spanish-born cobbler, who displayed his shoes at London Fashion Week for the first time yesterday, also has an interest-free loan to his firm of £814,042, accounts show. Figures for the 15 [...]
Fred Perry profits are punctured despite riding to higher turnover September 15, 2013 FRED PERRY, the British fashion designer, made slightly smaller pre-tax profits last year after sales trailed off in the UK and the company spent big on new shops and websites. Sales fell two per cent in its main British and European market to £98m for the year ending March, despite a strong summer of Olympic [...]
Weak footfall as summer ends for UK retailers September 15, 2013 AUGUST saw the lowest level of activity in stores since March, with footfall 0.9 per cent below the same month in 2012, which benefited from the boost of the Olympics. According to figures released today by the British Retail Consortium (BRC) and Springboard, the number of shoppers was down by 0.9 per cent on the [...]
Investec readies new plane debt fund for take-off within weeks September 15, 2013 INVESTEC’S aircraft financing unit is planning to launch a $500m (£315m) fund that will invest in debts linked to aircraft within the next few weeks. The South African bank has signed up institutional investors to the new fund, which it believes is the first of its kind in the world. One of the bankers working [...]
City Moves for 16 September 2013 | Who’s switching jobs September 15, 2013 Frostrow Capital The investment trust group has hired David Harris as marketing manager. He joins from Morgan Stanley, where he held associate positions in its FX corporate sales team and senior relationship management division. He began his career as a British Army infantry officer. Julius Baer The private bank has announced the appointment of Mazy [...]
