Guy Hands’ Terra Firma puts Odeon and UCI cinema chains up for sale with £1bn price tag February 26, 2015 Guy Hands’ private equity group, Terra Firma, has announced plans to put its European cinema chain Odeon & UCI Group up for sale toward the end of this year, in a potential £1bn deal. The private equity group said it may plump for an IPO instead. Terra Firma, best known for its botched takeover of [...]
How politicians can support Britain’s fast-growth businesses February 26, 2015 Politicians of all stripes talk a good sound bite when claiming to support British businesses – but talk, unlike running a company, is cheap. As the election approaches and manifestos are released, we will soon be able to assess which party truly backs Britain’s growing band of entrepreneurs. The UK is undoubtedly a great place [...]
MPs attack policing of licence fee and push to scrap BBC Trust February 25, 2015 The BBC will come under fire from an influential group of MPs today, with a new report slamming the “anachronistic” way in which licence fee evasion is treated as a criminal offence. The Culture, Media and Sport Select Committee also criticises the BBC for squeezing out smaller rivals, and proposes scrapping the BBC Trust. The [...]
Fast-growth businesses wary of a Labour government February 25, 2015 The Labour party’s uncomfortable relationship with the world of business is laid bare this morning, with a new survey revealing that fewer than seven per cent of fast-growing firms think its policies would support their growth. When asked “which political party do you think has the best policies to support your business’s expansion?”, 71 per cent [...]
What if your son wanted to work in the city? February 25, 2015 Nick Leeson: 20 years on from the fall of Barings Bank FORMER Barings Bank trader Nick Leeson, who caused the historic institution’s collapse in 1995, says he would have no qualms about his children pursuing a career in the financial sector. “I don’t have an axe to grind against the City – my problems are [...]
Sky share price reaches 15-year high of 1,005p on pan-European status February 25, 2015 Despite more cost pressure than ever on European pay TV broadcaster Sky, its shares touched a new high yesterday as investors remained optimistic about the group’s future. Shares rose 3.18 per cent to 1,005p on the London Stock Exchange, even as Sky prepares to swallow a huge £4.2bn bill to hold on to its Premier [...]
HSBC bosses sorry about tax scandal at Swiss arm February 25, 2015 HSBC’S chief executive and chairman yesterday gave repeated apologies to MPs over tax evasion in its Swiss private banking arm. But scrutiny of the bank is not over yet – former global private banking boss Clive Bannister could be called up next by MPs. Chief executive Stuart Gulliver and chairman Douglas Flint told MPs they [...]
Morgan Stanley settles for $2.6bn February 25, 2015 MORGAN Stanley yesterday reached an agreement in principle to settle mortgage-backed security-related claims with the US Department of Justice for $2.6bn (£1.67bn). The settlement, disclosed in a Securities and Exchange Commission filing yesterday, follows years of litigation by investors over allegedly false and misleading statements made by Morgan Stanley over the securities in the run [...]
Shares surge as Gulf Keystone admits sale talks February 25, 2015 SHARES in oil firm Gulf Keystone (GKP) rocketed by almost 55 per cent yesterday, after the firm announced that it is in talks about a possible sale. The firm stated that it has “recently engaged in discussions with a number of parties in relation to possible asset transactions or a sale of the company”. It [...]
Greece doubts it will be able to cover its multiple loans by July February 25, 2015 GREECE will struggle to make debt repayments to the IMF and the European Central Bank this year, its finance minister said yesterday. “We will not have liquidity problems for the public sector. But we will definitely have problems in making debt payments to the IMF now and to the ECB in July,” said finance minister [...]
