Cement maker Holcim confirms Lafarge merger is still on track March 11, 2015 Swiss cement firm Holcim yesterday said its proposed merger with French competitor Lafarge was continuing “unchanged” despite reports that the deal had been derailed by concerns over price. Thomas Schmidheiny, Holcim’s largest shareholder with an almost 20 per cent stake in the company, was reported to be demanding a better deal in the Swiss press [...]
Founder Graeme Minto backs Brother Industries in take over of Domino Printing Sciences March 11, 2015 The founder of Domino Printing Sciences yesterday gave his blessing to the takeover bid by Japan’s Brother Industries, saying he believed the “very good ethos” at Domino would be shared by the Japanese firm. Graeme Minto, who founded the firm in 1978, spoke of his pleasure at being able to look back over the past [...]
North Sea deal still in limbo March 11, 2015 THE RUSSIAN billionaire at odds with the UK government over energy assets in the North Sea is still hoping to reach a deal that will allow his proposed takeover of German firm RWE Dea to go ahead. Mikhail Fridman’s investment firm Letter One last week made a €1.5bn (£1.1bn) bid for the company, which owns [...]
Banking apps boost savings March 11, 2015 BANK customers who use mobile apps and receive texts warning them when they are close to their overdraft move hundreds of pounds more into their savings accounts, the City watchdog said yesterday. As well as saving money on overdraft charges – the costs they incur fall 24 per cent compared with people who do not [...]
Backing the USA: Dollar climbs as investors buy into recovery March 11, 2015 Amid much talk of a US rate hike, Chris Papadopoullos asks if it will happen as quickly as some think The Federal Reserve has a way with words. Last year, it prompted mass market confusion by saying it would wait for a “considerable time” before hiking interest rates. In December, it ditched the term and [...]
Manufacturing body plays down the impact of output decline March 11, 2015 FACTORY output contracted at the start of the year, but economists are forecasting a strong 2015 ahead for the sector. Manufacturing dropped by 0.5 per cent in January compared with December, according to figures released yesterday by the Office for National Statistics. Production, which includes quarrying and mining as well as manufacturing, dipped by 0.1 [...]
New chair Wolfhart Hauser aims to get FirstGroup back on track March 11, 2015 FirstGroup has announced new chairman Wolfhart Hauser will take over from John McFarlane in July, becoming the firm’s third chairman in less than 18 months. Hauser has been the chief executive of Intertek, the London-listed safety and quality service provider, since 2005. He is also is a non-executive director of Associated British Foods and of [...]
Hyatt Hotels eyeing up purchase of luxury Grosvenor House Hotel March 11, 2015 Hyatt Hotels is considering purchasing the Grosvenor House Hotel in London, after the landmark building was put up for sale earlier this month. The luxury five-star hotel on Park Lane in Mayfair was previously owned by troubled Indian conglomerate Sahara Grosvenor House Hospitality. However, its lenders called in administrators after it defaulted on a loan, [...]
N Brown sounds alarm as move away from catalogues hits profit March 11, 2015 ONLINE, catalogue and store retailer N Brown has issued its second profit warning in six months following a challenging autumn trading period. The retailer said it was disappointed by the slower profit growth, but remained optimistic that its recent restructuring would ensure future growth. “The company is transitioning from a traditional model: we are changing [...]
Foxtons defies market cooling to report profits March 11, 2015 FOXTONS recorded strong growth in pre-tax profits for 2014, it was revealed yesterday, despite a sharp downturn in the second half. The London estate agent said the first six months of last year were characterised by strong property sales, with transactions at their highest levels since 2008. The second half saw a marked cooling in [...]
