Carlyle Group sees valuations stagnate due to oil price drop February 11, 2015 PRIVATE equity giant Carlyle Group followed in the footsteps of its industry rivals yesterday by reporting slower valuation rises weighed down by declining energy prices. Fourth quarter profits fell by 68 per cent compared to the prior year after the value of the companies its owned slowed. The firm, led by its trio of founders [...]
Dunelm Group share price rises as homeware retailer set to make itself at home with 200 stores February 11, 2015 Dunelm boss Will Adderley has left no time to waste since returning to the helm of the family business five months ago, as he revealed yesterday ambitious plans to grow sales by 50 per cent over the next five years. Adderley, the son of Bill and Jean who founded the homewares retailer in 1979, [...]
US private equity firm Warburg halves stake in UK’s Poundland February 11, 2015 AMERICAN private equity firm Warburg Pincus has cut its stake in UK discount retailer Poundland from 30.4 per cent to 16.4 per cent, raising £142m via a share placing, the buyout firm said yesterday. The New York-based company had said on Tuesday that it intended to offload 25m Poundland shares, but subsequently increased that amount to [...]
Celtic come to Tower Hamlets as Charlie Mulgrew launches charity programme Breaking Barriers February 11, 2015 Celtic FC star and Scotland international Charlie Mulgrew will be helping the club hark back to its east London heritage today with the launch of a new three-year charitable sports programme in Tower Hamlets. The midfielder will be joined by the boss of Celtic’s charity arm Tony Hamilton to launch the Breaking Barriers programme, a [...]
City gets a deep clean from protesters February 11, 2015 SIR RICHARD Branson-backed startup Transferwise staged a protest-come-publicity stunt in the City yesterday calling on FX companies to “clean up” and cut hidden fees. The peer-to-peer lender says it can scrap hidden fees for customers sending money abroad.
Lonmin shares hit by Glencore divestment February 11, 2015 PLATINUM producer Lonmin saw its shares plunge by 8.3 per cent yesterday after mining giant Glencore announced that it was divesting its 23.9 per cent stake in the company. Glencore is proposing to make a “distribution in specie” to its shareholders, which means the asset will be distributed in its present form, as opposed to [...]
Petroceltic and Worldview lock horns again and urge shareholders to pick a side February 11, 2015 The war of words between Irish oil firm Petroceltic and its investor Worldview Capital rumbled on yesterday, as Petroceltic issued a statement urging shareholders to vote against resolutions put forward by the investment manager. The Dublin-based firm published a document entitled “Don’t let Worldview destroy your company”, in response to a circular issued by Worldview [...]
UK Defence review gives Qinetic turbulence February 11, 2015 UK DEFENCE technology company QinetiQ reported short-term uncertainty because of findings from UK Ministry of Defence transformation and review programmes, announced in 2010. QinetiQ bosses said performance expectations in the current financial year “are unchanged despite ongoing challenging markets”. The FTSE 250-listed firm gave its interim statement on the same day it helped launch ESA [...]
Thomas Cook’s revival stalls after CEO’s exit February 11, 2015 THOMAS Cook shares plunged 5.5 per cent yesterday as revenues fell on the back of tough trading conditions in the company’s European market. In contrast to rival TUI, the company failed to successfully raise the prices of its holidays, with prices in its UK market declining one per cent for the coming summer, whilst stagnating [...]
WS Atkins reaffirms 2014 financial guidance after foreign buy-ups February 11, 2015 Design and engineering firm Atkins has reaffirmed its full year results saying it continues to trade in line with expectations despite performance in its UK market being described as mixed. The company said it had made some progress in the resolution of the contract variations in its UK rail business and has changed its aerospace [...]
