Payments group Square attracts $200m in funding September 17, 2012 PAYMENTS company Square said yesterday it had closed on its fourth major funding round, an investment of more than $200m (£123.2m). Investors include Citi Ventures, Rizvi Traverse Management, and coffee retailer Starbucks. The coffee chain’s investment was announced last month. The company is valued at about $3.25bn, a source familiar with the matter has said. [...]
Standard Life issues bonds in Canada September 17, 2012 INSURER Standard Life yesterday announced that it has raised 400m Canadian dollars (£253m) in debt, its first issuance in the local currency. Subject to regulatory approval the funds may be used to repay a similar-sized internal debt owed by the Canadian division to the Edinburgh-based parent company. Holders will enjoy a return of 3.9 per [...]
MPs put in the cheap seats as easyJet inks travel deal September 17, 2012 A BELT-TIGHTENING decree for hardworking politicians yesterday, timed to coincide with the start of the conference season break (three weeks after the end of the Westminster summer break). In a spirit of collective austerity, parliament has drafted in low cost airline easyJet as a travel partner for MPs and peers. For the next twelve months, [...]
Ladies’ investment club plans an evening of advice and inspiration September 17, 2012 ASPIRING female entrepreneurs take note. Tomorrow night the No.1 Ladies’ Investment Club will hold its fifth annual networking event, focusing on the “Power of the Purse” – womens’ relationship with money and how to maximise investment success. Gina Miller established the Investment Club in 2009 to offer access to financial education for aspiring female investors, [...]
Construction begins on Crossrail nature reserve September 17, 2012 CONSTRUCTION work officially kicked off yesterday on a project to create the largest man-made nature reserve in Essex. Wallasea Island, close to Southend-on-Sea, is being transformed from farmland into a huge wildlife sanctuary to attract birds and other wildlife to the area. The 670-hectare park, which will feature marshes and mudflats, is being constructed from [...]
Investors sell Samsonite shares September 17, 2012 PRIVATE equity firm CVC Capital and Royal Bank of Scotland sold a combined 153.6m shares in luggage maker Samsonite International yesterday, raising HK$2.22bn (£175m), according to reports in IFR. The deal originated from a reverse enquiry and was sold to a small number of global investors, the report said. The vendors sold at HK$14.50 per [...]
Business network LinkedIn nets ten millionth member in the UK September 17, 2012 BUSINESS social network LinkedIn yesterday celebrated passing the 10m membership mark in the UK. The tally means an estimated four out of five British business professionals are now registered. LinkedIn, which began in 2003, has over 175m members worldwide, and has shown strong growth in the UK. It passed the 5m mark in 2010. Hotpots [...]
H&M sales hit by hot weather September 17, 2012 HENNES & Mauritz, the world’s second largest fashion retailer, said yesterday that unusually warm weather in Europe dented demand for autumn clothes and led to an unexpected drop in sales in August. Shares in the Swedish budget apparel firm, which trails Zara owner Inditex by value and turnover, as well as by the number of [...]
Rip Curl considering investors after unsolicited bids flood in September 17, 2012 AUSTRALIAN surfwear company Rip Curl said yesterday it has received unsolicited approaches from several international companies wanting to invest in the privately held firm, in a deal that could fetch up to A$480m (£309m) Australia’s beaten-down retailers have proved attractive for buyout firms this year as harsh trading conditions battered sales and share prices. Rip [...]
Qatar Airways expects small loss for 2011 September 17, 2012 QATAR Airways, the Gulf state’s rapidly growing flag carrier, made a small net loss in the last financial year which ended in March because of high oil prices, its chief executive said yesterday. “We had a very small loss because of the huge increase in oil price,” Akbar al-Baker told reporters. “Profit on an Ebitda [...]
