China’s Dalian Wanda to buy Infront for €1bn February 10, 2015 CHINESE property and leisure conglomerate Dalian Wanda has made a push into the sports and entertainment sectors after snapping up Swiss marketing firm Infront Sports & Media for €1.05bn (£780m). Dalian Wanda, which is led by China’s wealthiest man Wang Jianlin, is one of the country’s largest property players with over 60 five star hotels [...]
Canon bids for Swedish CCTV firm Axis to expand into surveillance February 10, 2015 CAMERA giant Canon plans to buy Swedish video surveillance and network camera company Axis. Canon has made an offer of to buy all of Axis’ Nasdaq Stockholm-listed shares at 340 Swedish Crowns (£26.75) for a total of 23.6bn Swedish crowns. Axis’ board of directions has recommended their share holders accept the offer of and the [...]
Coke rebounds in US as foreign sales lose fizz February 10, 2015 INCREASED consumer spending and a booming US jobs market has led to expectation-beating profits at Coca-Cola as shoppers celebrate with soda. Sales in North America increased by two per cent to $5.37bn (£3.52bn) in the fourth quarter helping to offset weak foreign demand caused by the strengthening dollar and continued trouble in Venezuela. Overall revenues [...]
Newly-merged TUI posts a loss February 10, 2015 TRAVEL giant TUI Group has delivered its first results since its creation by merger last December, but is yet to turn an overall profit. The company merged its London-listed TUI Travel and German majority owner TUI AG last December to cut down on overlapping functions. The result created a travel company with annual sales of [...]
Euro woes hit RWS revenues February 10, 2015 RWS HOLDINGS is the latest company to warn its group revenues have been hit in recent months due to the current unfavourable euro exchange rate. The Aim-listed company, which deals in intellectual property services, reiterated it will deliver a solid profit performance in line with management’s expectations. The euro remains the group’s principal exchange exposure [...]
Entu reveals new dividend February 10, 2015 AIM-listed Entu has rewarded investors yesterday of a 1.5p interim dividend after seeing growth in its revenue and pre tax profits. The energy efficiency company which specialises in insulation, boilers and PVC products listed on the Aim index last October after the company’s initial investors sold a 50 per cent stake for £33m. The company [...]
£550m hedge for Babcock February 10, 2015 Engineering support firm Babcock experienced a solid six months, it said yesterday, as strong demand from existing contracts and its bidding and development activities remained buoyant. The company said it had entered into contracts with the Ministry of Defence for the acquisition of Defence Support Group (DSG), with the associated service provision contract along with [...]
Housing supplier Bellway splashes out £355m on sites as demand shows no signs of slowing February 10, 2015 House builder Bellway is betting on sustained demand in the UK housing market after announcing it has significantly increased its purchases of land in the last six months. The company spent £355m on sites it has identified as attractive investments with recent purchases focussing on the home counties, with sites in Basingstoke and Kings Hill [...]
City Moves for 11 February 2015 | Who’s switching jobs February 10, 2015 Close Brothers James Mallinson has been appointed as director of Family Business, a role created as part of the asset manager’s expansion of its initiative to support family businesses. Mallinson has 10 years’ experience and was at In Partnership and St. James’s Place before Close Brothers. easyProperty.com The online property platform has appointed Robin Wilson [...]
US investments in London’s tech sector soar to $795m February 10, 2015 Mayor Boris Johnson will reveal how US investors poured a record $795.2m (£521.7m) into the London technology sector last year, while speaking as part of a trade mission in New York this afternoon. The mayor will also reveal that one of the capital’s rising FinTech stars, Digital Shadows, has closed an $8m funding round led [...]
