Law firm Knights aims to raise £50m in largest-ever legal float June 26, 2018 Regional law firm Knights has said today it plans to raise £50m in its London float later this month in what will be the largest legal listing to date. The offer price has been set at 135p per ordinary share which will result in a market capitalisation of approximately £103.5m. The firm will received gross [...]
Wimbledon to serve up highlights packages using IBM artificial intelligence technology June 26, 2018 The Wimbledon tennis tournament, which starts next week, will use artificial intelligence (AI) technology to help compile its highlights packages this year. The All England Lawn Tennis Club and technology partner IBM said the Watson AI platform had been taught to recognise players’ emotions, which it would combine with an analysis of crowd noise, players’ [...]
Shareholders back Standard Life Aberdeen’s £2bn insurance business sell-off June 25, 2018 Standard Life Aberdeen shareholders overwhelmingly backed the £2bn sale of its insurance business to Phoenix today. At its general meeting today 99.26 per cent of voters backed the deal which will see Phoenix acquire Standard Life Assurance Limited (SLAL), the company’s insurance arm. Read more: Lloyds sells off last of its holding in Standard Life [...]
German asset managers call for ‘unhindered access’ to City post-Brexit June 24, 2018 The association that represents German asset managers has called for “unhindered access” to investment services provided by the City after the UK leaves the EU. In a policy paper the German Investment Funds Association (BVI), which represents the German asset management sector, said “proper and unobstructed” access to London investment services was crucial to the [...]
Former Stobart Group boss at heart of boardroom battle suggested reuniting group June 24, 2018 Former Stobart Group chief executive Andrew Tinkler drew up plans to merge Stobart Group with trucking business Eddie Stobart Logistics, which it span off in 2014. The merger, which was discussed as recently as last month, would have created a business with a market capitalisation of £1.7bn. Tinkler is currently engaged in a bitter battle [...]
Second-largest investor in Premier Foods lashes out at chief executive over ‘five years of failure’ June 24, 2018 The second largest shareholder in Mr Kipling-owner Premier Foods has called for its chief executive officer (CEO) Gavin Darby to be removed after years of “shareholder value destruction”. Hong Kong-based Oasis Management said today that Darby should be removed “following years of persistent shareholder value destruction, poor financial performance, consistent missed targets, a lack of [...]
Premier Foods urges support for chief exec in face of opposition from second-largest shareholder June 21, 2018 The board of Premier Foods has urged its shareholders to back its chief executive officer (CEO) despite opposition to his re-appointment from its second-largest shareholder. In an announcement today the board said it had been made aware that Hong Kong-based Oasis Management intends to vote against the re-appointment of its CEO Gavin Darby at the [...]
AIG buys UK life insurance business Ellipse from Munich Re June 20, 2018 US insurance giant American International Group (AIG) has agreed to acquire a specialist life risk protection business from reinsurer Munich Re in the UK. The business, Ellipse, is a specialist provider of group life risk protection in the UK. Group life risk is a product aimed at companies which can insure benefits due to staff [...]
UK-based ‘six sigma’-style software company iNexus to float in London June 20, 2018 Software company iNexus said today that it is set to float on London’s junior market AIM tomorrow. The Coventry-headquartered company is a ‘software as a service’ business which provides a cloud-based platform to companies to help with continuous improvement and strategy execution. Its software supports Hoshin Kanri, a strategy development method, first introduced the 1960s [...]
Multiple people injured after explosion at Southgate tube station June 19, 2018 Multiple people have been injured after an explosion at Southgate tube station this evening. British Transport Police said a small number of people have been treated at the scene by the London Ambulance Service following a minor explosion. The explosion is not being treated as suspicious with the Metropolitan Police saying that the cause of [...]