Testing week ahead for banks in Greece on the brink of crisis February 23, 2015 Greek banks face a week of uncertainty even after promising steps were made in the country’s bailout negotiations. Because the banks hold little cash of their own, they rely on emergency lending (ELA) from Greece’s central bank to match deposit withdrawals. But the ELA is capped by the European Central Bank at €68.3bn (£50.5bn), with [...]
Greeks rush to wrap up 11th hour debt deal February 23, 2015 The Greek government yesterday submitted a list of reforms it is prepared to undertake in order to access urgently needed funding. The finance ministry had rushed to draw up the proposals over the weekend after a deadline for today was agreed at Friday’s meeting of Eurozone finance ministers. The list of reforms are hoped to [...]
Political fallout and euro exit still a risk even if bailout’s extended February 23, 2015 A deal to extend Greece’s bailout programme could mark only a brief pause in the country’s latest saga. “If it was left with no choice but to accept austerity conditions similar to those that were in place before the election, it might feel that it had to put this to a referendum,” commented Jennifer McKeown [...]
Liam Fox describes Eurozone as main threat to global financial future February 23, 2015 Former Conservative leadership candidate Liam Fox will tonight look to curry favour with his party’s eurosceptic wing by describing the Eurozone as the greatest threat to global financial stability. Speaking at the right of centre think-tank Parliament Street, Fox will say that “the euro was always a flawed project”, and warn that “if the euro [...]
3i returns to UK market with Aspen Pumps swoop February 22, 2015 3i, the FTSE 100-listed private equity behemoth, is set to seal its first British deal since 2011 with the acquisition of Sussex-based manufacturer Aspen Pumps, it emerged yesterday. The buyout firm is on the verge of agreeing a deal with the manufacturer’s owner Inflexion Private Equity. The deal is expected to result in a considerable [...]
Charterhouse executives pocket £32m despite investment flops February 22, 2015 Top dealmakers at City private equity firm Charterhouse Capital Partners took home £32.3m last year, it emerged yesterday, despite some of the buyout specialist’s key investments falling into lenders’ hands over the period. Top executives at the firm pocketed an average of £1.24m last year, according to accounts filed on Companies House. Charterhouse – one [...]
Morrisons chairman Andrew Higginson adds Warburg Pincus to CV February 22, 2015 Private equity giant Warburg Pincus has signed up new Morrisons chairman Andrew Higginson as a senior advisor for the firm, it came to light yesterday. It is thought the experienced retailer will help Warburg identify possible acquisitions – not limited to the retail sector – in a part-time role. Higginson’s relationship with Warburg dates back [...]
UK’s mid-sized firms fare better than Germany’s February 22, 2015 Mid-sized companies in the UK have weathered the global downturn better than those in the renowned German Mittelstand, according to new figures released today. The snapshot of the European mid-market, released by accountancy firm BDO, shows that the €1.92 trillion (£1.4 trillion) turnover of the UK’s mid-sized firms now exceeds that of the German Mittelstand’s [...]
Britain may miss fourth “global, technology-driven” industrial revolution February 22, 2015 Britain is in danger of missing out on a fourth industrial revolution, according to research from manufacturers’ organisation EEF. The group said its data shows that Britain is on the cusp of a “global, technology-driven” industrial revolution, with 80 per cent of the 206 decision-makers it surveyed stating that it will become a business reality [...]
Oscars 2015: Academy Awards highlight the allure of live TV February 22, 2015 Surrounded by on-demand challengers, live events are the last bastion of traditional television. While the actors and actresses heading home last night with golden statuettes were undoubtedly the winners of the 87th Academy Awards, they might not have taken home the biggest prize. The Oscar hosts, the Academy of Motion Picture Arts and Sciences, charged [...]
