Bernard Matthews in hunt for £10m rescue May 17, 2015 Struggling poultry supplier Bernard Matthews is seeking £10m in order to stay afloat just 16 months after being rescued by a private equity firm. The company has been trying to stem losses ever since 2007 when its stock of birds was struck by avian flu. Bernard Matthews was thrown a life-line by private equity investors [...]
Playground broker Alex Fenton pulls in £5m for new startup GapCap May 17, 2015 They say you can spot talent early, and so it was with Alex Fenton. The now-26-year-old’s first foray into business was in the playground, where he acted as a broker for collectible stickers. Fast-forward a couple of decades and Fenton, who used to work in private equity, has secured £5m in funding for his startup. [...]
The £20,000 cost of food from the heavens May 17, 2015 The UK has the second largest fleet of business jets in Europe, so The Capitalist is told. These islands’ fleet of 618 private flying machines is beaten only by Eurozone powerhouse Germany, where there are 761. But before you rush over to your boss and demand a jet to whizz you around Europe, consider the [...]
New Italian signing unveiled at Chelsea May 17, 2015 WITH the Chelsea Flower Show kicking off today, gardeners were surprised to find an unlikely guest among the Royal Bank of Canada’s plants – namely a lizard who clung on all the way from Italy. RBC is one of many financial groups making an appearance at the event, alongside an array of top City names. [...]
Retail app Octer quickly raising major second round of crowdfunding May 17, 2015 Mobile shopping app Octer has returned to the equity-based crowdfunding platform Seedrs, to raise a second round of funding. It is aiming to bring in a total of £700,000, in exchange for 7.48 per cent equity, giving a total valuation of £8.6m. The valuation has been agreed by key investors, and Octer’s principal investors have [...]
New energy secretary Amber Rudd says Tory government will back fracking May 17, 2015 The Tory-led government will back fracking, according to the new energy and climate change secretary. Shale gas extraction will be allowed under national parks under the new government, Amber Rudd told The Sunday Times in an interview this weekend. Rudd added that while the government would allow firms to exploit oil and gas resources, such [...]
Accountants poised to hike fees as economy strengthens May 17, 2015 A greater number of accountants are planning to lift their fees over the next year as they take advantage of the strengthening economy. A fee rise is planned by 24 per cent of accountancy firms, according to survey figures released today by tax and accounting information firm Bloomsbury Professional. It compares with 17 per cent [...]
UK tech boom leads to surge in young directors setting up firms May 17, 2015 The UK boasts over 26,000 directors aged 21 or under as the boom in tech startups continues to propel young talent to the top of the corporate ladder. The new research, released today by professional services consultancy Procore, praises the UK “raising a generation of entrepreneurs.” Procore identifies the increasing role of technology in the [...]
Gordon Ramsey restaurants boil down losses May 17, 2015 GORDON Ramsey kept sales across his restaurant empire simmering last year after new openings in south London helped to offset the end of his contract at Claridges hotel. Turnover at the celebrity chef’s 26 restaurants edged down in the year to August 2014 to £44.7m from £44.8m the previous year, according to accounts filed by [...]
Bristol tops the table of wisest car purchasers May 17, 2015 MOTORISTS in Bristol are the savviest used car buyers in the country as figures show they are most likely to check out the history of a vehicle before stumping up the cash for it. A report from the RAC out today found seven out of 10 motorists “buy blind” by failing to check the history [...]
