Aldermore IPO: Challenger bank plans to cut flotation price February 16, 2015 Aldermore is planning to offer shares for a knock-down price to make sure the bank’s stock market debut goes smoothly this time around, City A.M. understands. The challenger bank tried to float last September, but sudden market turmoil spooked investors and forced the lender to cancel the sale. This time around Aldermore hopes that strong [...]
Levy on tobacco industry could cost state millions February 16, 2015 A TAX on tobacco manufacturers’ profits could result in significant losses of income for the government, a consultancy has said. “The implementation of a windfall tax is estimated to produce a net loss in tax receipts,” the analysis from Oxford Economics said yesterday. If the tax is implemented at £100m, it is predicted it will lead [...]
Bannister should tell all about HSBC – Editor’s Letter February 16, 2015 Clive Bannister is a very companionable dinner guest, rightly proud of his achievements in business and of his father Roger, who became the first person to run a mile in less than four minutes. He is just as proud, possibly more so, of his father’s achievement in going on from his success on the sports [...]
Lord Green keeps Chambers of Commerce role as HSBC tax evasion row goes on February 16, 2015 Former HSBC boss Lord Green is keeping his role as a trade adviser to the British Chambers of Commerce (BCC), as the business group backed the embattled ex-government minister. Green was the chief executive and chairman of HSBC while its Swiss private banking arm helped wealthy clients evade taxes. He is now the focus [...]
Small parties to be squeezed as election nears February 16, 2015 A NEW poll published last night shows that Britain’s smaller parties are being squeezed as the General Election nears. Parties such as the Greens and Ukip have seen their potential vote shares rocket in recent times – yet voters could be turning back to the bigger parties, a poll by ICM revealed. The survey showed Ukip and [...]
Apollo and CVC look to sell off Brit insurance February 16, 2015 Insurance company Brit is close to being sold off by its private equity owners CVC and Apollo, it emerged last night. Brit, a Lloyd’s of London insurer that specialises in underwriting complex products such as kidnapping insurance, is attracting several parties, including at least one from the US. Update: To read the details of [...]
Obama attacks Europe over tech protectionism against Google February 16, 2015 US President Barack Obama hit out at the EU for its scrutiny of companies like Google and Facebook, which he believes is driven by a desire to protect European tech companies. Search giant Google is currently embroiled in a four-year probe into its dominant position in Europe’s search engine market. “Sometimes the European response here [...]
888 snuffs out William Hill takeover talks February 16, 2015 ONLINE gambling company 888 yesterday said negotiations over its mooted £720m takeover by rival William Hill had ceased after a key stakeholder vetoed the deal. 888, which saw its stock surge 20 per cent last week after the talks were made public, said it had discussed a recommended offer from William Hill worth 200p plus [...]
Boutiques bound for borough market February 16, 2015 VINOPOLIS, the wine restaurant and venue by London Bridge and Borough Market, will be replaced by a collection of boutique shops when it closes in spring 2016. The property fund that bought the two acre site will build a retail development in a £300m plan, due by 2018.
Contactless payments rise to £380m as Brits favour plastic February 16, 2015 Britain's shoppers spent more than £380m via contactless payments in December, showing their rapid adoption of the latest technologies, according to the UK Cards Association. Overall spending on plastic rose to £49.1bn in the month, with debit cards leading the way. Debit card spending rose 7.2 per cent on the year to £34.5bn, over a [...]
