Pershing ends 2015 with a 20.5 per cent loss thanks to falling Valeant Pharmaceuticals share price January 5, 2016 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 [...]
Electra Private Equity rings in the new year with changes naming Alex Fortescue as new managing partner as Hugh Mumford retires January 5, 2016 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 [...]
On demand beauty service Milk Beauty raises more than £225,000 on Seedrs crowdfund December 22, 2015 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 [...]
How much tax do you have to pay on a partridge in a pear tree this Christmas? December 22, 2015 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 [...]
Luxury stocks including LVMH, Burberry and Kering have fallen out of favour: These days, it’s all about the stratospheric rise of Greggs’ sausage rolls December 22, 2015 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 [...]
BHP Billiton share price fluctuates after it updates on Samarco mining disaster in Brazil December 22, 2015 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, Santander and Blaze team up to make cycling on Boris bikes in London safer December 21, 2015 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 [...]
Equistone exits Audley Travel and 3i steps in with £159m investment December 21, 2015 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 [...]
Celebrate good times: The European private equity deal market achieves highest total value since 2007 and exits are at an all time high December 21, 2015 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 [...]
Last minute Christmas shopping could lead to £1.3bn being spent on UK high streets, and that’s not the end of it: get ready for the Boxing Day and New Year sales December 21, 2015 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 [...]
