The Ivy goes takeaway – sort of March 24, 2015 CELEBRITY hotspot The Ivy is in the middle of a massive makeover – but for those who can’t bear the thought of never again eating a meal in its hallowed environs, there is a solution. The old fixtures and fittings from the restaurant will go on sale tonight, at an auction run by Sotheby’s. Alongside [...]
Peter Schoenfeld tells Vivendi: start to splash the cash March 24, 2015 Peter Schoenfeld touched down in Paris yesterday as he sought to pile further pressure on Vivendi in his bid to force them to spin off Universal Music Group, headed by Lucian Grange. Known on Wall Street as the “quiet professor of merger arbitrage”, Schoenfeld has recently found his voice in his ongoing battle to secure [...]
Low mortgage rates and booming UK economy lifts housebuilder Cala Group March 24, 2015 Upmarket housebuilder Cala Group said it was on track to deliver another year of record profits as low mortgage rates, the strength of the UK economy and the ongoing housing shortage continued to boost demand. The Edinburgh-based group, which develops upmarket properties in Scotland, the Midlands and the Home Counties, said yesterday it had already [...]
Land securities sells Times Square in the city March 24, 2015 BRITAIN’S biggest listed landlord Land Securities said yesterday it has sold Times Square, an office block in the City, to Blackstone for £268.4m. The 380,000 square foot building at 160-162 Queen Victoria St, EC4, is let to firms, including BNY Mellon and law firm Dechert. Blackstone said the deal aligned with its strategy of buying [...]
Kingfisher in a fix over buying out Mr Bricolage March 24, 2015 EUROPE’S biggest DIY group Kingfisher yesterday suffered a setback to its bid for Mr Bricolage after facing opposition from one the French rival’s major shareholders. The B&Q owner, which makes about half of its annual profit in France, said the board of Mr Bricolage and the franchisee group ANPF, a major shareholder, “have reservations” about [...]
Irn Bru maker AG Barr soldiers on despite price war in stores and public’s changing tastes March 24, 2015 Irn Bru maker AG Barr posted a 10 per cent jump in annual profits yesterday thanks to strong demand for its water brand Strathmore, and despite warning of increasing competition taking a toll on the drinks market. Chief executive Roger White said increasing supermarket price wars and the heavy promotional environment meant the soft drinks [...]
Camden market owner to raise £112m in bonds March 24, 2015 MARKET Tech Holdings, the owner of the iconic Camden Market and run by Israeli entrepreneur Teddy Sagi, said yesterday it had launched a £112.5m convertible bond offering to help fund its recent acquisitions of Camden Wharf and the nearby Interchange Building, let to Associated Press. The bonds are due in March 2020 and will carry [...]
BHS brand is losing its homeliness to high street rivals – Brand Index March 24, 2015 BHS is one of Britain’s most recognisable retailers, but has experienced troubles in recent years, prompting Sir Philip Green to sell the company for £1 to Retail Acquisitions. The new owner is already looking into the possible closures of a third of the chain’s 171 stores. YouGov BrandIndex underlines the difficulty BHS has had competing [...]
Wolseley warns growth to slow in coming year March 24, 2015 WOLSELEY saw its shares take a hit yesterday after the company reported a £245m write down and admitted it would see revenue growth slow in the coming year. The plumbing supplies company said challenging market conditions in Scandinavia were behind a £245m impairment charge arising from the acquisition of DT Group in 2006. The six-month [...]
888 pays out as strong results give investors special dividend March 24, 2015 ONLINE gambling firm 888 Holdings has rewarded shareholders with a special dividend of seven cents per share, after seeing revenues and profits rise in the year ending 31 December. It said 2014 was a “record-breaking year” for the firm as it benefited from increased mobile usage and “spectacular” growth in sports betting. The company predicted [...]
