Ukraine debt holders go public after stall in talks May 18, 2015 UKRAINIAN sovereign debt holders have given up their anonymity in what appears to be a response to accusations that they lacked transparency in restructuring talks over the country’s debt. The bondholder committee, led by Franklin Templeton, which had already disclosed its membership, includes funds managed or advised by BTG Pactual Europe, Franklin Advisers, TCW Investment [...]
Sajid Javid to tackle late payments owed to small businesses in new enterprise bill May 18, 2015 The new business secretary will today promise to cut red tape and put at least £10bn back in the pockets of business owners over the next five years. Speaking at a business centre in Bristol, Sajid Javid will announce a new enterprise bill to be included in the Queen’s speech next week. He will say: “As [...]
Phoenix Spree Deutschland IPO: German rental property fund eyes a float on the London Stock Exchange May 18, 2015 German real estate investment vehicle Phoenix Spree Deutschland will today announce it intends to float on the main market of the London Stock Exchange next month. The company, which focuses on German residential property, will list in the second week of June, with 69.9m shares on the block. The firm, which was founded by a [...]
Blinkx share price dives as results show impact of market concerns on ads May 18, 2015 Shares in online advertising company Blinkx fell by 10.26 per cent yesterday, after swinging to a pre-tax loss of $25m (£16m) in the year ended 31 March. The Aim-listed company reported a profit of $18m last year. Revenue also fell, from $247m to $215m. The poor performance comes as the firm deals with [...]
Bwin.party share price rises as GVC joins with poker giant Amaya for new bid May 18, 2015 The battle for online gambling firm Bwin.party accelerated yesterday, with a new entrant to the bidding war. GVC said that instead of pushing for a reverse takeover alone, it was combining its hand with Canadian online poker giant Amaya for a takeover bid worth around €1.5bn (£1bn). A source close to the matter [...]
Sir Hector Sants to lead new review into competitiveness of British banks May 18, 2015 A former top City regulator has been tapped to lead a new review of the competitiveness of Britain’s banking sector. The British Bankers’ Association (BBA) has asked Sir Hector Sants to look at whether tax and regulatory reforms in the wake of the financial crisis hurt Britain’s international reputation as a banking centre, Sky [...]
Rolls-Royce job cuts blamed on low oil prices May 18, 2015 ENGINE manufacturer Rolls-Royce has blamed low oil prices for its decision to cut a further 600 jobs by the end of this year, as part of cost-reduction plans in its marine business. The job losses announced yesterday are in addition to the 2,600 role reductions announced previously. The company said that around half of the [...]
Miner BHP Billiton hit by weak debut of newly listed South32 May 18, 2015 AUSTRALIAN mining group BHP Billiton was down by 4.57 per cent yesterday, after spin-off South32, made a disappointing debut. Despite analysts citing strong investor interest over the weekend, South32 launched on the Australian stock exchange at $9bn (£5.8bn), which was below the market consensus range of $10.1bn-12.1bn. The newly demerged company, which is made up [...]
UK national rail strike: Disruption could ruin bank holiday Monday, cause train travel chaos and cost Britain £600m May 18, 2015 Yesterday’s peace talks continue into today in a bid to avert a strike that could cost Britain £600m. In terms of timing, next week’s proposed national rail strike, the first in 21 years, could hardly be worse. Starting on Bank Holiday Monday, the planned day-long industrial action by 25,000 workers would cut short [...]
Transformation begins to pay off for Future May 18, 2015 FUTURE Media yesterday announced results for the first half of 2015 to 31 March, which showed the company beginning to turn around its fortunes. The media group and digital publisher reported earnings before interest, tax, depreciation and amortisation (Ebitda) of £1.8m, reversing a loss of £3.7m in 2014. Revenue was £30.8m, down from £35.8m in [...]
