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Madeline is a reporter at City A.M. She can be contacted at email@example.com.
Pershing Square, the hedge fund owned and run by Bill Ackman, made a 20.5 per cent loss in 2015, thanks to the battering Valeant Pharmaceuticals, one of its biggest holdings, took last year. Pershing's fund Pershing Square Capital Management was up just 0.3 per cent in the month of December, with a net asset value per share of $20.96. Year on year returns fell [...]
Private Equity firm Electra Partners has announced Alex Fortescue has taken over as its new managing partner. Fortescue has been Electra's chief investment partner since he joined in 2011 and succeeds Hugh Mumford, who is retiring after 34 years with Electra. Mumford will remain as chairman of Electra' investment committee, and Bill Priestley will take over Fortescue's position [...]
Hackney-based Milk Beauty, the start-up which comes to your home or office to provide beauty treatments on demand, has raised £225,983 in the first 10 days of its crowdfunding campaign on Seedrs. Milk has reached 75 per cent of its investment target of £300,000, for which it is offering an 18.76 per cent stake in [...]
It's the question you all wanted to know the answer to. If you were going to give your true love a partridge in a pear tree, and the rest, what are the tax liabilities? How much would the taxman make, and are the gold rings deductible? Well, with the help of the Institute of Chartered [...]
Is this the end of luxury? It's certainly been a tough year for the most luxurious of brands, thanks in part to the slowdown in China, one of the fastest growing consumer markets. Options trader Banc de Binary has tracked the performance of some of the most high-end brands, including Kering, which owns Gucci, Balenciaga and [...]
Mining giant BHP Billiton this morning confirmed that 17 people died when a dam holding back waste water at the Samarco Mineracao iron-ore mining operation in Minas Gerais, Brazil, burst at the beginning of November. Some12 people working on the dam were killed, while the others were members of the local community. It added two dam-workers remained unaccounted for. BHP Billiton, and its [...]
Transport for London (TfL) has introduced a new cycle safety scheme: Blaze Laserlights will be fitted to all Boris bikes, to make them more visible at night and reduce the number of accidents with cyclists in London. After a successful trial in September, all 11,500 Santander Cycles will be fitted with the Blaze lights, starting from early 2016. Cycle sponsor [...]
FTSE-listed private equity firm 3i has bought a majority stake in bespoke travel agent Audley Travel from Equistone Partners for £159m. Equistone first invested in Audley in 2012. Since then the company's revenues have doubled to £165m, up 20 per cent in the last year. Equistone would not give a figure for the return on its initial investment. Audley, which was founded in 1996, is headquartered [...]
An M&A bonanza and high stock market valuations helped European private equity companies to a record year for exits and the highest deal values since 2007. The total exit value in Europe stands at a new high of €153.2bn (£112bn). IPOs and trade sales (where the company is taken over by another business operating in same sector) have been particularly [...]
If you've left your Christmas shopping to the last minute, you're not alone. Britons will spend £1.3bn on 23 December alone, which is set to be the busiest day on the high street. Expect crowds. Shoppers will make 37 million in-store transactions on Wednesday, up 10 per cent from 2014, and total spending is predicted to rise by three [...]
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