Softbank prepares to take control of Wework October 21, 2019 Softbank is reportedly planning to take control of troubled office space provider Wework. The Japanese investor, which already owns about a third of the company, plans to spend between $4bn and $5bn on new equity and existing shares, in a deal that will value Wework between $7.5bn and $8bn. Read more: Wework creates committee to [...]
Peaky Blinders maker Endemol Shine nears takeover deal October 21, 2019 Endemol Shine, the TV company that makes British TV hits such as Masterchef and Peaky Blinders, is reportedly close to a takeover by French firm Banijay. Disney and US private equity company Apollo Global Management, which jointly own Endemol Shine, are expected to close the deal with Banijay in the next few days. Read more: [...]
Sanjeev Gupta in fresh talks over British Steel bid October 21, 2019 Sanjeev Gupta is in fresh talks with the government about buying British Steel as concerns mount over a potential deal backed by Turkey’s military pension fund. Gupta’s Liberty House Group restarted discussions in recent days about a potential deal to buy the steel company ahead of the expiry date this week of an exclusivity period [...]
Saks owner Hudson’s Bay agrees to go private October 21, 2019 Hudson’s Bay Company (HBC), the owner of New York department store Saks Fifth Avenue, has agreed to be bought by a group of investors led by its executive chairman. The investor consortium led by Richard Baker, who currently owns 6.32 per cent of the firm, has made an offer to buy the shares of HBC [...]
UK house prices suffer slowest October rise since 2008 October 21, 2019 Prospective home buyers have been undeterred by the approaching Brexit deadline, while sellers have been put off by ongoing uncertainty over UK house prices, according to Rightmove. The price of property coming to market has seen its lowest monthly rise at this time of year since October 2008. Prices are up 0.6 per cent this [...]
Industrial real estate funds to double inflows October 21, 2019 Global industrial real estate funds could double the amount they raise this year as investors target warehouse and logistics assets. Research showed that specialist industrial property funds are projected to raise $6.4bn in 2019, up 120 per cent from inflows of $2.9bn last year driven by the yield available on logistics property. Read more: Land [...]
Leisure spending jumps despite dip in consumer confidence October 21, 2019 Spending in the leisure sector jumped in the third quarter of the year despite a slump in overall consumer confidence driven by ongoing Brexit uncertainty. A boost in disposable income confidence, which was up one point year on year, helped to drive leisure expenditure as consumers favoured experiences over buying material goods. Read more: Consumer [...]
RBS retail chief to exit after ten years with bank October 20, 2019 Royal Bank of Scotland’s retail banking chief executive is preparing to leave the lender as new boss Alison Rose completes her senior leadership team. Les Matheson, who joined RBS in 2010 and became personal banking chief executive in 2014, is planning to leave the bank in the coming months, Sky News reported. Read more: Alison [...]
UK firms urged to review reward schemes October 20, 2019 British companies should reconsider their use of long-term incentive plans in favour of restricted share awards, according to recommendations by a management think-tank. Long term incentive plans are designed to boost performance, however the system has faced criticism as the rewards are often not tied to a company’s share price. Read more: Berkeley Group faces [...]
Metro Bank prepares to cut off chairman Vernon Hill’s expenses budget October 20, 2019 Metro Bank is deciding when to cut off chairman Vernon Hill’s £10,000 a month expenses budget, and could continue funding his lifestyle after he steps down. The challenger bank may stop Hill’s expenses account in December, when he is due to step down as chairman and leave the board. Read more: Metro Bank share price [...]
