Horizon beats target with £69m biotech IPO March 24, 2014 UK medical technology company Horizon Discovery Group has announced a "significant oversubscription" during the company's flotation raising £68m, well-above the original target of £25m. Darrin Disley, Horizon chief executive, said: The Company builds upon a strong commercial performance since inception and the listing of our shares is expected to unlock and deliver significant value to [...]
Why this pawnbroker’s shares are now worth nothing March 24, 2014 Troubled pawnbroker Albemarle & Bond requested its shares be suspended from trading on London's Alternative Investment Market (AIM). The company made the announcement after its lenders said they would not be able to support the management turnaround plan for the business. However, Albemarle & Bond insisted that the company's options remained open, including the sale [...]
Shaftesbury extends property holdings with Jaeger House acquisition March 24, 2014 Property firm Shaftesbury has acquired Jaeger House, 57 Broadwick street, for £30.7m. The building is on the eastern boundary of Shaftesbury's ownership of 4.1 acres in Carnaby. The company said Broadwick street is increasingly important east-west pedestrian route through Soho, connecting Carnaby and Berwick streets. Shaftesbury's holdings in Carnaby and Soho have a combines value [...]
WPP snaps up leading digital tech consultancy March 24, 2014 British advertising giant WPP has agreed to acquire a majority stake in UK based digital technology consultancy Cognifide Limited. Cognifide founded in 2005, specialises in content management and digital asset management technology and employs over 200 people. The company boasts clients such as Allianz, Direct Line Group, Investec and Shell among many others. Cognifide will continue [...]
Any Other Business – 24/03 March 24, 2014 SO, JONES Lang LaSalle (JLL) has announced a three-year sponsorship deal with Olympic Gold medal-winning cyclist Geraint Thomas. He’s by no means the only athlete under JLL’s patronage – it also sponsors Olympic sculler Alan Campbell, former World Champion triathlete Helen Jenkins and Paralympic table tennis player Will Bayley – but could this latest tie-up [...]
Asian markets edge higher in face of weak China data March 24, 2014 Asian markets are seeing gains despite a fall in the HSBC purchasing managers' index (PMI) to an eight month low. The measure fell from 48.5 in February to 48.1 in March. The decline was more than expected with Bloomberg's median at 48.7 and London-based consultancy Capital Economics forecasting 48.5. Weak domestic demand was one of [...]
Royal Mail gets thumbs up from HSBC with “overweight” rating March 21, 2014 Royal Mail has laid strong foundations through its modernisation programme and can still deliver growth, according to a research note released by HSBC Global Research. The bank is initiating the company at "overweight" with DCF-driven target price of 710p. Since the Royal Mail's IPO it has significantly more flexibility to head off volume decline. the [...]
Tesco to invest £85m in joint Indian venture March 21, 2014 Super market chain Tesco has confirmed an agreement with Trent Limited, part of Tata group, to form a 50:50 joint venture In Trent Hypermarket. Trent Hypermarket operates the Star Bazaar. Tesco's investment will be in the region of £85m. Tesco has received the approval from the Indian Foreign Investment Promotion Board but is awaiting other [...]
UK furniture companies change pricing policy after OFT investigation March 21, 2014 The Office of Fair Trading (OFT) has forced five furniture companies to alter their pricing practices. The OFT said in a statement: Reference prices are used by retailers across their sector to advertise a bargain to shoppers, for example by comparing a lower current price against a higher past price such as 'Sale, Was £800, Now [...]
MtGox finds 200,000 forgotten Bitcoin March 21, 2014 Troubled Bitcoin exchange MtGox has said it has found 200,000 Bitcoin worth roughly £70m. Chief executive of the company Mark Karpeles said the Bitcoin were found in an online wallet, which MtGox believed held none of the digital currency. The exchange said: MtGox had certain old-format wallets which were used in the past and which, [...]
