US-Russia talks on Syria begin September 12, 2013 The US and Russia began high-stakes talks yesterday on Moscow’s plan for Syria to surrender its chemical weapons as Damascus applied to join a global ban. Talks in Geneva are part of a diplomatic push that prompted President Barack Obama to put on hold his plans for US air strikes in response to a chemical [...]
Hilton checks in with $1.25bn flotation plans September 12, 2013 STOCK market investors got the chance to book into Hilton Worldwide again yesterday after its owners announced plans to release it from private hands with a market float The hotel chain’s owners, Blackstone, will sell the business in a public offering of shares hoping to net $1.25bn (£790m), it announced yesterday. Deutsche Bank, Goldman Sachs, [...]
Vodafone seals 11th hour vote to pass Kabel Deutschland deal September 12, 2013 TELECOMS giant Vodafone has secured the support of three quarters of Kabel Deutschland’s shareholders, reaching the level required for a sale to go ahead. Vodafone offered €87 (£73.23) per share, along with a €2.50 dividend to Kabel Deutschland’s investors. Shareholders that have not yet taken Vodafone’s offer will be able to between the 17 [...]
New report points to delays and abuse of UK entrepreneur visa September 12, 2013 A HUGE backlog of entrepreneur visas has overwhelmed the UK’s immigration system, according to a report published yesterday by the independent chief inspector of borders and immigration. John Vine’s report found that the number of applications for entrepreneur visas rose by 1,520 per cent between February and December last year. The backlog was highest at [...]
JK Rowling makes screen writing debut September 12, 2013 BEST-SELLING Harry Potter author JK Rowling will return to the wizarding world for her screenplay debut, Warner Brothers said yesterday. Rowling has agreed to write the screenplay for “Fantastic Beasts and Where to Find Them”, a film based on the adventures of Newt Scamander – the fictional author of a Hogwarts textbook of the same [...]
Public to need at least £750 to buy shares in Royal Mail share sale September 12, 2013 UNLIKE the great privatisations of the Thatcher era, the forthcoming Royal Mail float will not be accompanied by a major publicity campaign – but individual investors will still be encouraged to buy shares as part of the IPO. The minimum individual share purchase will be £750 but at this stage it is not clear whether [...]
Bottom Line: Prospectus is not enough to seal the deal September 12, 2013 FOR potential investors in Royal Mail, the next few weeks will provide plenty of time to get stuck into the lengthy prospectus for the float, and to try to decide whether the government has made an investment case worth taking a chance on. Initially, their heads may be turned by the dividend. The government has [...]
Next chief sees housing bubble danger ahead September 12, 2013 THE CHIEF executive of Next warned yesterday that improving mortage availability and government measures to boost activity in the housing market could result in an “unhelpful house price bubble” as the retailer reported strong half-year sales growth. Lord Simon Wolfson, a prominent supporter of the Conservative Party, said house price inflation “was as dangerous as [...]
John Lewis first half profits take £50m hit after holiday pay error September 12, 2013 JOHN LEWIS said yesterday it was looking forward to positive trading in the second half after a review of its holiday pay policy dragged first half profits down 38.5 per cent. The department store group booked an exceptional £47.3m charge after discovering an error in the way it had calculated pay for Sundays and bank [...]
Summer sun boosts sales at Home Retail September 12, 2013 HOME Retail Group said yesterday that summer sunshine had delivered a big boost to sales at its DIY chain Homebase in the second quarter, and helped shift seasonal products at its biggest business, Argos. The company said like-for-like sales at Homebase rose by 11 per cent in the 13 weeks to 31 August, comfortably beating [...]
