G4S wins new contract in Austria September 12, 2013 FTSE 100-listed security firm G4S yesterday said it has won a €68m (£57.2m) contract to run an immigration removal centre for the Austrian government. G4S will employ around 100 staff at the centre providing security and care services for up to 200 detainees awaiting deportation under the contract, that will extend for a minimum of [...]
Hobbycraft investment paying off September 12, 2013 Arts and craft retailer Hobbycraft yesterday reported a 12 per cent increase in sales after a big investment programme in its distribution system. Turnover for the 53 weeks to the end of February increased to £119.1m but operating earnings fell due to its investment programme. The company, owned by private equity group Bridgepoint, has spent [...]
Tradeweb agrees to buy BondDesk September 12, 2013 Fixed income trading platform Tradeweb Markets has signed an agreement to acquire BondDesk Group, a provider of retail fixed income wealth management and trading technology. Terms of the deal were not disclosed. Upon closing, John Cahalane, managing director and head of Tradeweb’s retail division, will lead the combined business, according to a statement issued by [...]
Private equity firm 3i offers to buy out ferry line co-owner September 12, 2013 PRIVATE equity investor 3i has offered to buy the shares in Scandlines it does not already own, after an attempt to find a buyer for the ferry group failed earlier this summer, it said in a statement yesterday. 3i’s bid for the 50 per cent stake held by co-owner Allianz Capital Partners (ACP) values Scandlines [...]
Coin and stamp giants set to mint new firm September 12, 2013 A GIANT of the stamp collecting world yesterday teed up a takeover of one of world’s oldest rare coin collectors after making a bid to buy the firm. The Stanley Gibbons Group, the 150-year old group offering rare stamps, has approached coin and stamp collection business Noble Investments with an offer to buy it [...]
Apcims set to rebrand itself as Wealth Management Association September 12, 2013 THE ASSOCIATION of Private Client Investment Managers and Stockbrokers (Apcims) said yesterday it will rebrand itself as the Wealth Management Association (WMA). The trade body will vote on the name change at its annual meeting at the beginning of next month. “We are changing our name, but not what we do,” said chief executive Tim [...]
Kier increases dividend but profits decline September 12, 2013 FTSE 250-listed construction group Kier yesterday said it was optimistic about a UK economic recovery and increased its full-year dividend by three per cent, despite a fall in revenue and profit. The firm, which acquired support services provider May Gurney in July, posted a nine per cent decline in pre-tax profits to £63.4m, in line [...]
Shell hires John Abbott as new director of onshore operations September 12, 2013 FTSE 100-listed oil giant Royal Dutch Shell yesterday named John Abbott as its new downstream director and said that he would join the executive committee. Abbott joined Shell straight from university in 1981 and is currently executive vice president of manufacturing. He takes on his new role on 1 October, replacing Ben van Beurden, who [...]
Bakrie-backed energy group Persada calls off rights issue September 12, 2013 AN INDONESIAN energy firm with ties to the Bakries has called off its controversial rights issue that it had planned to fund an oil field takeover, citing market volatility. Energi Mega Persada (EMP) has delayed its shareholder vote on the plan indefinitely, the Jakarta-listed firm said in a statement yesterday. The company, in which the [...]
Richemont warns of slowing China demand September 12, 2013 LUXURY goods group Richemont, which owns brands including Montblanc and Net-a-Porter, saw sales growth in Asia slow to four per cent in the five months to 31 August compared with 12 per cent a year ago, dragged down by weak demand for watches in mainland China. Overall sales were up nine per cent, helped by [...]
