Balfour Beatty snaps up firm of office fitters in deal worth £8m August 22, 2011 INFRASTRUCTURE giant Balfour Beatty has snapped up a firm of office fitters for £8m, it said yesterday. Office Projects Group, which has worked on Balfour projects in the past, specialises in fitting out British offices. It recently completed a £4.3m fit-out at the offices of Ignis Asset Management at 150 Cheapside. Other blue-chip clients include [...]
SuperGroup sharpens up supply chain August 22, 2011 SUPERGROUP yesterday outlined plans to tackle future supply chain problems after the retailer was caught with a summer stock shortage that triggered a fall in its share price. The company, whose brands include Superdry, gave a hit list of possible hurdles to its growth in its annual report. The document also highlighted the firm’s expansion [...]
Electrolux buys Chilean rival August 22, 2011 WORLD number two home appliances maker Electrolux, looking to further boost its presence in emerging countries and offset weakness in mature markets, has agreed to buy market-leading Chilean appliance company CTI. Sweden’s Electrolux has been battered by fears of a return to recession in North America and worries about the impact of the debt crisis [...]
GlaxoSmithKline invests in British biotech startup August 22, 2011 PHARMACEUTICAL giant GlaxoSmithKline has bought a minority stake in UK biotech firm Autifony Therapeutics, through its subsidiary Glaxo Group. Glaxo said this morning it would put £1.25m into Autifony – which develops treatments for tinnitus sufferers – in return for a 25.4 per cent stake in the company. Glaxo Group has raised a total of [...]
HR Owen sees profit drive forward as London showroom sells more Ferraris August 22, 2011 LUXURY car dealer HR Owen doubled its profits in the first half of 2011 but has cut its dividend by 75 per cent. The company said it had grown new car sales and improved used car margins but was going to cut its dividend to help fund its new growth strategy. Profit before tax leapt [...]
Sportingbet given green light for Centrebet deal August 22, 2011 SPORTINGBET, the UK gaming group that has been earmarked as a potential target for Ladbrokes, has been given the all clear to buy Australian listed bookmaker Centrebet. The Federal Court of Australia’s should close by the end of this month. It will then operate as a wholly-owned subsidiary of Sbet Australia Pty. Centrebet shares are [...]
Uniq set to cut its desserts unit August 22, 2011 UNIQ, the food manufacturer, revealed plans to close its struggling everyday desserts business next year, cutting around 350 jobs, in order to focus on its premium desserts for clients like Muller and Cadbury. Uniq, which changed name from Unigate when it sold its dairy empire to Dairy Crest 11 years ago, was bought by its [...]
Greene King’s bid for Capital is unconditional August 22, 2011 BREWER Greene King’s bid to acquire Capital Pub Company, in a deal that values the 34-strong London pub operator at £70m, has been declared wholly unconditional. Greene King said that as of the first closing date of the offer on 19 August, it had received valid acceptances in respect of 19.795m Capital Pubs shares, representing [...]
HILFIGER TO OPEN NEW LONDON FLAGSHIP August 22, 2011 Tommy Hilfiger is opening its largest UK store in Knightsbridge on 24 November. “I am really excited to open our European flagship store on London’s prestigious Brompton Road,” its eponymous founder told Vogue.
CITY MOVES | WHO’S SWITCHING JOBS August 22, 2011 Savills The property firm has strengthened its building and project consultancy team by hiring surveyors Edward Wilson and Tim Cole, who will be based at the Finsbury Circus office in the City of London. Wilson (pictured) joins Savills from Drivers Jonas Deloitte, where he worked in the building consultancy team for over three years. Cole [...]
