GFI founder’s ex wife shuns $10m to back CME bid January 27, 2015 THE EX-WIFE of GFI Group founder Michael Gooch has waded into a bitter takeover battle for the interdealer by indicating she will accept $9.6m less for her stake in the firm to see off a rival suitor hoping to buy the business. Rivals CME Group and BGC Group, owned by Cantor Fitzgerald, are both racing [...]
US corporate results round up January 27, 2015 Caterpillar Caterpillar yesterday cut its 2015 profit outlook and warned the plunge in oil prices would hurt its energy equipment business, sending shares tumbling as much as eight per cent. During the final three months of 2014, Caterpillar’s energy business helped offset falling construction equipment sales and weakness in mining equipment orders due to lower [...]
EDF blasted for underwhelming planned reduction to gas prices January 27, 2015 CONSUMER groups have hit out at EDF Energy’s proposed 1.3 per cent reduction in gas prices for being too little, too late. The company announced yesterday that it was cutting its prices, becoming the last of the Big Six energy firms to do so. The drop in EDF’s standard variable gas price will come into [...]
General Election 2015: Tories and Labour neck and neck but don’t dismiss the Lib Dems January 27, 2015 With under 100 days to go, the general election is now extremely close. Polls put Labour and the Tories neck and neck, and the minor parties are breaking through like never before. The Greens, Ukip, and the SNP are surging, and, along with Plaid Cymru and the Northern Irish parties, are giving Britain truly multi-party [...]
Countdown to the General Election January 27, 2015 A guide to the key events taking place in the lead up to the crunch vote. FEB 12th February HALF-TERM The Commons and Lords get a final break before campaigning kicks off in earnest 27th February UKIP SPRING CONFERENCE Nigel Farage has decided to host his Spring Conference in Margate – practically next door to [...]
The City’s King of Mining Ian Hannam is back on top after £450,000 FCA fine January 27, 2015 When you are called “The King of Mining”, you know you have risen pretty high – and, in dramatic terms at least, there is only one way you can go. Ian Hannam fell very far, very suddenly. The dealmaking guru at JP Morgan quit his job almost three years ago to fight claims of insider [...]
Crunch time for Afren as board reviews funding requirements January 27, 2015 SHARES in troubled oil firm Afren lost over two thirds of their value yesterday, plummeting by 71.7 per cent after the firm announced that it is reviewing the funding and liquidity requirements of the business. The company said it was seeking to address how it manages the overall leverage position of the company “in light [...]
Aer Lingus board to approve third IAG takeover bid January 27, 2015 IRISH airline Aer Lingus would continue to operate as a separate business with its own brand, management and operations if a proposed €1.36bn (£1.02bn) takeover by International Consolidated Airlines Group (IAG) goes ahead. IAG stated yesterday that the board of Aer Lingus has indicated that the financial terms of its most recent bid “are at [...]
L&G to manage £15bn fund for regional cities January 27, 2015 INSURANCE provider Legal & General Group (L&G) has allocated £1.5bn to a new government-run £15bn regional regeneration fund. The fund is to invest in both equity and debt across the UK, with Birmingham, Bristol and Leeds showcased at a Downing Street Investment in Cities event yesterday. It will take construction risk and plans to invest [...]
Waitrose plans expansion and 2,000 new jobs January 27, 2015 Waitrose announced plans yesterday to create 2,000 new jobs as the upmarket supermarket continues to expand its presence and grab a greater slice of the grocery market. The chain, owned by the John Lewis Partnership, will open 14 new stores from spring this year including seven Little Waitrose convenience stores and seven supermarkets, including one [...]
