Trio set for Arsenal debuts September 19, 2011 FOOTBALL: South Korean striker Park Ju Young, Japanese forward Ryo Miyaichi and fellow 18-year-old Alex Oxlade-Chamberlain are all expected to make their full debuts for Arsenal in the Carling Cup against Shrewsbury tonight. Meanwhile, skipper Robin van Persie believes Arsenal still have time to turn their season around despite the club’s worst league start for [...]
Real announce record turnover September 19, 2011 FOOTBALL: Spanish giants Real Madrid have claimed a new football world record for annual revenue with the release of its financial figures for the year ending June 30, 2011. The side managed by Jose Mourinho reported that turnover, before the transfer of players, increased from £385.5m 2009-10 to £418.4m in 2010-11.
Gulf Keystone mulls $200m equity raising September 19, 2011 KURDISTAN-focused oil firm Gulf Keystone Petroleum (GKP) yesterday said it was considering tapping the markets to raise capital, confirming it is “considering its options” in response to speculation over the weekend. Reports suggested the company would look to raise up to $200m (£127.5m), though Gulf Keystone did not confirm the figures yesterday. The closely-followed oil [...]
Blackstone and US producer in Glaxo auction September 19, 2011 US PRIVATE equity house Blackstone has joined forces with a manufacturer to bid for a series of consumer products being sold by GlaxoSmithKline (GSK). Blackstone and Prestige Brands want to buy nearly 20 brands, such as sleep aid Nytol, nasal spray Beconase and Abtei vitamins, minerals and supplements, which the pharmaceuticals giant has decided are outside [...]
Clock starts ticking on UK takeover bids September 19, 2011 A RAFT of UK acquisition bids could all be announced on Monday 17 October, after new rules introduced yesterday shortened the timeframe for a bidder to make an offer or walk away. As part of sweeping changes to the UK’s Takeover Code, offeror companies will now have to adhere to a 28-day “put-up-or-shut-up” deadline – [...]
Spencer in line for £3.25m as William Hill circles Probability September 19, 2011 SIR Michael Spencer’s IPGL investment vehicle could be in line for a cash windfall from the sale of its stake in Aim-listed gaming company Probability, which yesterday revealed it was in early talks with high-street bookie William Hill. Probability was one of the early benefactors of the UK’s new takeover rules, which require company to identify [...]
Glasenberg adds to stake in Glencore September 19, 2011 GLENCORE boss Ivan Glasenberg has made another show of confidence in the commodity trader, buying almost £13.5m of shares to add to his holding as part of a plan to use his dividend income to buy more shares. Glasenberg, who announced last week he had bought £10m of shares and would buy more, bought another [...]
CITY VIEWS: WOULD A CHIEF EXECUTIVE BUYING SHARES IN THEIR OWN COMPANY MAKE YOU MORE LIKELY TO INVEST?* September 19, 2011 KATIE HART | JRP UNDERWRITING “Yes. Because it is their own money being invested then it is obviously for good reason. The chief executive would have a lot more to lose if anything happened to the company.” CHRIS PARKER | ERNST & YOUNG “If it was a significant number of shares bought then I would [...]
Hedge fund Man Group picks star trader Pierre Lagrange to help realise its Eastern ambitions September 19, 2011 STAR trader Pierre Lagrange has been named chairman of Man Asia as the hedge fund looks to expand in the East. Man, the world’s largest listed hedge fund, has also hired David Mercurio from the Government of Singapore Investment Corp (GIC), where he was a senior portfolio manager, as head of Asia Equity. Both appointments [...]
Rise in Taylor Wimpey sales lifts margins September 19, 2011 HOUSEBUILDER Taylor Wimpey said yesterday that sales rates in recent weeks have been encouraging, as the industry has benefited from a seasonal surge in home buying activity. The FTSE 250-listed firm added it is on track to deliver on margin targets this year. The country’s second largest builder by market value said net sales rates [...]
