NetJets chief executive flies away from luxury plane firm June 1, 2015 CHANGE is afoot at NetJets, the luxury jet business backed by Warren Buffett’s Berkshire Hathaway. The chief executive and chairman Jordan Hansell, who has been in the cockpit for four years, has stepped down from both roles with immediate effect. Adam Johnson, who has been at the business for 18 years and is currently president [...]
Fancy a buffet with Omaha’s Warren Buffett? June 1, 2015 THERE are some things you can’t put a price on, but having lunch with the Oracle of Omaha is not one of them. The annual auction to have lunch with billionaire investor Warren Buffett is underway and already bids are above $525,000. There are four days and several hours left to get involved, although the [...]
Stan chart race launches in city June 1, 2015 STANDARD Chartered Bank’s European boss Richard Holmes joined forces with Olympic gold medallist Jonathan Edwards (right), five-time paralympic gold medallist Noel Thatcher (left) and two-time paralympic silver medallist Libby Clegg yesterday to launch this year’s Great City Race, which takes place on 9 July. The team were on hand to highlight the work done by [...]
SVG Capital puts Hugo Boss back on the sales rack but keeps focus June 1, 2015 SVG Capital netted £287m over the last three months as the private equity firm completed its divestiture of Hugo Boss shares it emerged yesterday. In addition, the firm said it had partially sold down its stake in Arysta LifeScience and expected to make at least one new investment commitment and further co-investments this year. The [...]
British American Tobacco in €550m Croatian deal to buy TDR from Adris Grupa June 1, 2015 British American Tobacco (BAT) is set to extend its reach into the Balkans after the cigarette giant agreed to purchase TDR from Croatia’s Adris Grupa yesterday for €550m (£394m). BAT, which last year had a global market share of 12 per cent in tobacco products, said it will benefit from TDR’s strong brand presence in [...]
Microsoft will give new version of Windows free to customers June 1, 2015 MICROSOFT has announced that the latest version of its Windows operating system will be available as a free upgrade for existing users upon its 29 July release. Customers who run Windows on their tablet devices, laptops and PCs are now able to reserve to upgrade their device to the new Windows 10 on the release [...]
Platform Black founder swaps shares with GLI June 1, 2015 GLI FINANCE announced it had expanded its stake in Platform Black to 31.9 per cent yesterday in a move valuing the issued shares of the UK-based invoice trading business at £2.5m. GLI Finance announced it had expanded its stake in Platform Black to 31.9 per cent yesterday in a move valuing the issued shares of [...]
Boss of Mayalsia Airlines confirms the carrier is technically bankrupt June 1, 2015 MALAYSIA Airlines is bankrupt, its recently appointed boss revealed yesterday. “We are technically bankrupt,” said Christoph Mueller, the carrier’s chief executive at a news conference. Mueller added that the bankruptcy was not solely down to tragedy befalling the airline. “The decline of performance started long before the tragic events of 2014,” he said, referring to [...]
CVC makes bid for Douglas as float put on ice June 1, 2015 CVC CAPITAL Partners has struck a deal with Advent International to acquire German perfume retailer Douglas. The move comes just days after the German retailer announced plans for an initial public offering (IPO) which, had it gone ahead, could have seen the firm valued at €2.8bn (£2bn). As well as negotiating the deal with Advent [...]
Tritax Big Box sets its sights on Tesco real estate with £47m bid June 1, 2015 Real estate management firm Tritax Big Box confirmed it will acquire Tesco’s regional distribution centre at Capitol Park in Goole for £47m yesterday. The deal, which has been funded through equity proceeds, will see Tritax take over the site which has a 17.5 year unexpired lease and is expected to yield a 5.67 per cent [...]
