US activist hedge fund makes a move for Britain’s solar industry February 8, 2015 ELLIOTT Capital Advisors has invested nearly £100m in Britain’s solar power sector funding half a dozen solar projects and has hedged its bets by shorting a similar number of solar groups. The US hedge fund is now one of the largest privately-held solar power operators in the UK with around 85 megawatts of solar projects [...]
UK tech groups expect over 10pc growth in 2015 February 8, 2015 BRITAIN’S tech businesses expect to grow four times faster than UK GDP growth (predicted to be 2.6 per cent) this year, with the average tech company predicting growth of 11 per cent in 2015. And next year could hold even brisker growth. Companies polled in Barclays’ Fast Growth Tech survey said they expected an additional [...]
Profits soar for Carlyle Group’s Addison Lee February 8, 2015 DESPITE increasing competition from smartphone apps like Uber and Hailo, minicab company Addison Lee continued to grow last year as its revenue and profits surged. The group, which was snapped up by private equity firm Carlyle Group in April 2013, said revenue rose 11 per cent to £196.6m during the year to the end of [...]
New owners Bridgepoint feast on sales surge at Ask and Zizzi February 8, 2015 ZIZZI and Ask Italian enjoyed a 10 per cent jump in sales over the last six months, making for a tasty acquisition by Bridgepoint. The Pret A Manger-owner bought the portfolio of restaurant chains in January from rival private equity firm Cinven for £250m. The sale marked Cinven’s exit from Gondola Group after selling Pizza [...]
Barclays to hire the over-50s as apprentices February 8, 2015 BARCLAYS has announced it is launching an apprenticeship scheme for the over-50s, giving older workers a chance at a new career in banking. The scheme, which will place middle-aged trainees on the bottom rung, will be advertised in summer, and piloted later in the year. The move comes after the government’s older workers champion, Dr [...]
Lanacshire County Pension Fund enters Eurostar bidding war February 8, 2015 Lanacshire County Pension Fund (LCPF) has thrown its hat into the ring in the battle to buy the government’s 40 per cent holding in Eurostar. The £5.7bn fund, which invests on behalf of thousands of Lancashire’s local authority workers, is up against various international infrastructure investors to buy the stake, which is valued at £400m. [...]
Tullow Oil will show impact of tough market February 8, 2015 Irish oil firm Tullow is expected to report a large loss when it reveals its full-year results on Wednesday, after what analysts have described as a “tough year”. Last month, the company announced that it had written off $2.3bn (£1.5bn) worth of assets and exploration work, following a series of difficulties over the past 12 [...]
Upper Street aiming to fundraise £200,000 on Seedrs for growth February 8, 2015 LUXURY made-to-order shoe firm Upper Street has launched a £200,000 fundraising round using the London-based crowdfunding platform Seedrs as it looks to grow its online platform. The company, which was founded five years ago by Katy Chandler and Julia Elliott Brown, allows customers to design their own shoes online using 3D technology. Shoppers spend an [...]
UK Coal fails to convince Cable February 8, 2015 BUSINESS secretary Vince Cable has refused a request from UK Coal and Hatfield Colliery for £300m of state aid, which means the UK’s last three remaining deep coal mines are set to close by the end of the year. UK Coal, which runs Kellingley Colliery in Yorkshire and Thoresby Colliery in Nottinghamshire, and Hatfield Colliery [...]
Warning over North Sea tax February 8, 2015 LOW OIL prices could cost the UK economy £200bn unless changes are made to the tax regime for drilling in the North Sea. The past week saw two of Britain’s largest oil companies, BP and BG Group, slash capital expenditure projections as they reported declining profits, with BP boss Bob Dudley predicting that the current [...]
