Allegion to pay €210m in offer for SimonsVoss June 29, 2015 Private equity house HgCapital Trust has agreed to sell its European locking systems business, SimonsVoss, to security products specialist Allegion, in a deal valued at €210m (£150m). SimonsVoss was founded in 1995, and generated sales of €52m in 2014. It employs around 275 people. Allegion employs almost 8,500 people and its products are sold in [...]
Forbes celebrity rich list 2015: Floyd Mayweather Jr tops rankings of world’s highest-paid superstars June 29, 2015 Beyonce Knowles and Jay Z, formerly the world’s most powerful celebrity couple, have been stripped of their title after Forbes’ annual celebrity rich list puts notorious boxing baddie Floyd Mayweather Jr in first place. Thanks to a legendary fight with fellow boxer and number two on the list Manny Pacquiao, Mayweather is leagues ahead [...]
A turn around the garden at Duck and Waffle June 29, 2015 Fancy a spot of gardening in central London? The Heron Tower’s Duck and Waffle restaurant has teamed up with Petersham Nurseries, a restaurant and nursery in Richmond, to create a garden in the sky; housing a plethora of edible plants that guests can pick and nibble at dinner next month. The event is on Monday [...]
GE slims down with a $7bn sale to rival Element June 29, 2015 GENERAL Electric, the US conglomerate, said yesterday it will sell off GE Capital’s fleet management operations in the US, Mexico, Australia and New Zealand for $6.98bn (£4.44bn) in cash. GE will sell several of its fleet businesses to a Canadian rival, so that the iconic American brand can focus on its more profitable units. The [...]
City Moves for 30 June 2015 | Who’s switching jobs June 29, 2015 Baker & McKenzie The law firm has appointed Kate Alexander as principal tax adviser in its London tax practice. She joins from EY, where she has been a partner and head of markets for its international tax services group. Alexander has also worked as head of UK patent box at EY. Savills Investment Management Peter [...]
Best of the Brokers for 30 June 2015 June 29, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com IG GROUP The stock keeps its “hold” rating and target price of 758p from Numis, which believes good strategic progress is being made with the stockbroking offering in the Netherlands and work towards a regulatory licence in Dubai. WENTWORTH RESOURCES Panmure Gordon dropped [...]
Travel stocks hit by misery in the Mediterranean – London Report June 29, 2015 INVESTOR sentiment was punctured by Greece’s deepening debt crisis following the breakdown of talks with creditors and Athens’ imposition of capital controls. Travel and leisure stocks were hit hard by events in Greece, a popular holiday destination for Europeans, and news that tour companies were evacuating thousands of holidaymakers from Tunisia after a gunman killed [...]
All three major indexes fall on Greek worries – New York Report June 29, 2015 LOSSES were extended in heavy trading yesterday after the collapse of Greek bailout talks,with all three major US indexes falling more than one per cent for the first time since 26 May. The Dow Jones industrial average fell 262.14 points, or 1.46 per cent, to 17,684.54, the S&P 500 lost 32.56 points, or 1.55 per [...]
Tsipras’s costly referendum gamble may harm more than just the Greeks June 29, 2015 Given the stunning events of the weekend, it’s easy to forget that, just ten days ago, the creditors and Greece were both making positive statements about progress towards a solution to the Greek bailout crisis. Who could have forecast that we would suddenly find ourselves with a breakdown in the talks and a referendum called [...]
Think 45p taxpayers have it hard? The tax system crushes incentives at all levels June 29, 2015 Ahead of next week’s Budget, two former chancellors and 160 Tory MPs are calling for the 45 per cent income tax rate to be reduced to 40 per cent. But for all the political capital devoted to explaining the disincentive effects of a 45 per cent rate, the reality is that many people across the [...]
