Just Eat investors take smaller portion in £445m fundraising June 9, 2015 ONLINE takeaway service Just Eat was left feeling hungry yesterday after completing its placing with only 40 per cent of shares taken up by existing investors. The company said its main shareholders, which together hold 42.97 per cent, chose not to take up their entitlement under the open offer. However, it added that it was [...]
KKR halves Pets at Home stake and eyes Tesco June 9, 2015 PRIVATE equity giant KKR has nearly halved its stake in Pets at Home just as it emerged yesterday that the firm has been invited to bid for Tesco’s South Korean business. US-based KKR bought Pets at Home from private equity rival Bridgepoint in 2010 for £995m. The pet care and products retailer floated on the [...]
Premier Foods says supplier fees under pay-to-stay plan a success June 9, 2015 MR KIPLING cake-maker Premier Foods has launched an ardent defence of its controversial so-called Invest for Growth plan. after receiving widespread criticism for asking suppliers for payments in exchange for its business. In its annual report published yesterday, chief executive Gavin Darby admitted it had made mistakes but claimed that overall it had been a [...]
Britain’s trade deficit narrows but impact on growth will be limited June 9, 2015 THE UK’s trade deficit, the amount it exports minus what it imports, narrowed in April. It bodes well for the economy after the trade deficit hindered growth from January to March. But economists are warning not to get over excited due to weaker longer-term trends and the strength of sterling. The UK’s trade deficit is [...]
Flexible jobs market helps UK startups as more British businesses survive first year June 9, 2015 New British businesses are more likely than European firms to survive their first year, consultancy Rousseau Associates said yesterday, as rules on hiring and firing staff are more flexible. Of the 234,000 firms launched in Britain in 2011, 93 per cent lasted at least one year. By contrast only 83 per cent of those in [...]
Unions blame HSBC chiefs for UK job losses June 9, 2015 UNIONS promised to fight for HSBC staff after the giant bank announced 8,000 in the UK will lose their jobs. Around 100 branches in Britain will close, and the retail bank will get a new headquarters in Birmingham as the group implements the ring-fence which splits up retail and investment banking. “Unite are seeking to [...]
Challenge set for Bill Winters on day one at Standard Chartered as UK domicile remains “under review” June 9, 2015 HSBC’s plan of action to review the location of its headquarters puts pressure on Standard Chartered’s new boss Bill Winters as he takes up the role today. StanChart is domiciled in the UK but carries out almost all of its business overseas, specialising in emerging markets. As a result it is set to [...]
Price war prompts a record high of bets against Supermarket giants June 9, 2015 HEDGE funds are making record bets against the health of the supermarket sector, with the average interest in the UK’s four listed grocers breaking the 11 per cent barrier for the first time. Sainsbury’s and Morrisons are now the two most-shorted constituents of the FTSE 100 behind oilfield services provider Petrofac, according to a report published [...]
P&G to rinse off shampoo units June 9, 2015 HENKEL & Co and Coty, both of which have personal care and cosmetics businesses, made binding offers to buy separate parts of Procter & Gamble’s beauty businesses worth up to a total of $12bn, according to sources. The bids bring P&G one step closer to shedding several assets it considers non-core to cut costs. Henkel [...]
Wales E-cig ban sparks outrage June 9, 2015 THE DECISION to ban E-cigarettes from public places in Wales on the grounds it will prevent smoking has met with fury among both liberty and health campaigners alike as opposition to the move mounts. Liberal author John Snowdon was dismayed over the decision saying: “Its just ludicrous. From a liberal point of view it is [...]
