Chinese firm in bid for Pirelli as it seeks the fast lane to tyre tech March 23, 2015 SHARES in Italian tyre manufacturer Pirelli ticked up yesterday after the China National Chemical Corporation (CNCC) made further progress towards acquiring the firm. CNCC struck an agreement with the company’s controlling shareholders on Sunday which took it closer to a €7bn (£5bn) takeover. Any takeover would likely result in Pirelli delisting from the Milan stock [...]
Miner Centamin shares rocket as firm reveals dividend for 2014 March 23, 2015 Shares in gold miner Centamin were up by 16.09 per cent yesterday, after the company announced a dividend of 2.86 cents per share for 2014. The firm said this represents a payout of 30 per cent of its free cash flow, and chief executive Andrew Pardey said investors had reacted so positively to news of [...]
There’s no business like e-business: Amazon Local takes on Ticketmaster with West End ticket offers March 23, 2015 Amazon has moved into ticketing after launching offers to West End shows on its daily deals website today, putting it head-to-head with established players such as Ticketmaster and See Tickets. As part of its latest Amazon Local expansion, the internet retailer will now also offer tickets to all 48 shows in the West End including [...]
Analysts: Bank levy could drive Standard Chartered abroad March 23, 2015 George Osborne’s major new hike in the bank levy could prompt Standard Chartered to leave the UK, analysts at JP Morgan said yesterday, as the tax puts it at a disadvantage against global rivals. Such a move – to a location such as Singapore or Hong Kong – could take two or more years and cost [...]
AnaCap to move into Derwent London’s Stephen St building March 23, 2015 DERWENT London has let the top two floors of 1 Stephen Street near Tottenham Court Court to AnaCap Financial Partners, a private equity firm specialising in the European financial services sector. The property developer said yesterday that AnaCap has taken 16,150 square feet on the ninth and tenth floors of the building. The firm will [...]
Biomass firm in deal to fuel power plant March 23, 2015 BRITISH biomass supplier Stobart Group will today announce its fourth major UK contract in as many months. Stobart Energy, a subsidiary, will provide 270,000 tonnes of waste wood a year for 15 years to a yet-to-be built energy plant in Tilbury Port, Essex. The £175m contract between the Group and Tilbury Green Power will begin [...]
Ivanhoe mining sees shares up on Chinese deal March 23, 2015 CHINESE mining firm Zijin Mining Group is on track to acquire a minority stake in Canada’s Ivanhoe Mines it emerged yesterday as the firm seeks to expand beyond its traditional Chinese heartland. Shares in the Ivanhoe surged 12.37 per cent in Toronto on the news Zijin will purchase a 9.9 per cent stake for CAD$1.36 [...]
Profits crumble 63 per cent at investment firm SVG Capital March 23, 2015 INVESTMENT manager SVG Capital’s distributions soared in 2014 despite slow growth, the firm said yesterday. SVG offered shareholders a company record of £330m in distributions for the year, up over £25m since 2013. SVG’s partial selldown of Hugo Boss shares and selling of ProSiebenSat.1 Media contributed to the gains. However, SVG’s 2014 pre-tax profit of [...]
Sportingbet’s owner is on a winning streak March 23, 2015 GAMING and betting giant GVC Holdings enjoyed a huge boom in 2014, the company announced yesterday. GVC, owner of gambling brands like Sportingbet and Casino Club, reported a net gaming revenue of €224.8m (£164.4m), rising 32 per cent since 2013. Profit before tax, too, climbed to €41.3m, a 217 per cent increase since 2013, according [...]
City Moves for 24 March 2015 | Who’s switching jobs March 23, 2015 Baker Tilly The accountancy and business advisory firm has appointed Steve Hopkins as a consultant in its restructuring and recovery practice. He was previously head of corporate insolvency at Barclays Bank, and has over 20 years’ experience in restructuring and insolvency. LCH.Clearnet Frank Soussan has been appointed global head of CDSClear at the clearing house. [...]
