Bearish Barclays economists foresee more trouble in China in their quarterly Global Outlook report November 12, 2015 "Curb your enthusiasm" was the message from Barclays economists, who doubted how long China's recovery could be sustained, and warned of "significant" disruption risks in their quarterly Global Outlook report. Christian Keller, head of economics research at Barclays, questioned how long China's rebound would last, saying he expected "further weakening activity" as underlying problems in the real estate [...]
Agent Provocateur and Hobbs owner 3i posts largely positive results despite tricky market conditions November 12, 2015 British private equity firm 3i reported solid half-year results despite challenging market conditions forcing it to cut back on spending. The figures Net asset value per share, a common performance marker for funds that measures how much investments are worth, was 401p for the six months ended 30 September, up 12 per cent from the same period in 2014. This is despite paying [...]
British Airways owner IAG has launched a €1bn convertible bond for Aer Lingus acquisition November 12, 2015 British Airways owner International Consolidated Airlines Group (IAG) has launched a €1bn (£706m) convertible bond to help fund its acquisition of Aer Lingus. The unsecured bond is split into two: a €500m offering redeemable in 2020, and €500m in 2022, and can be converted into ordinary shares priced at a premium. The five-year bond will yield [...]
Megabrew is here: Now that SABMiller and AB InBev have reached a deal the real hangover begins November 11, 2015 Anheuser-Busch InBev’s £71bn takeover of SABMiller, the biggest ever British corporate merger, is poised to leave a bitter taste in the mouth with thousands of job cuts, a de-listing from the London Stock Exchange and the shuttering of SAB’s Mayfair offices all in the pipeline. AB InBev said the deal, confirmed yesterday, will result in $1.4bn (£920m) in efficiency [...]
ICAP confirms sale of voice-brokerage to Tullett Prebon as revenues slide four per cent November 11, 2015 ICAP shares soared this morning, up 5.64 per cent in morning trading after announcing it would sell its global voice-broking and information business to rival Tullett Prebon. The sale redeemed the group's half-year results, which reported revenues were down four per cent in the six months ended 30 September, from £620m the year before to [...]
Minicab comparison app Kabbee looks to challenge Uber with £1m Crowdcube fundraiser November 11, 2015 Minicab booking app – and Uber challenger – Kabbee today launches a £1m fundraising campaign on Crowdcube. The taxi price-comparison company is looking to extend beyond London and will use the funds for the UK-wide roll-out, and to update its dispatch and GPS technology, saying "intense competition" within the sector meant it needed to "future-proof" its business model. It is offering a [...]
Rising rents mean that by 2020 over 25 per cent of consumer spending will be on household and utility bills November 11, 2015 Housing and utility bills will account for over a quarter of total UK consumer spending by 2020. Household expenses is the fastest-growing category of consumer spending, increasing at a rate of 3.5 per cent a year, compared to spending on food, which will drop 0.4 per cent a year by 2020. Higher spending reflects rising rent [...]
Chiltern Firehouse head chef Nuno Mendes launches £1.75m Seedrs crowdfunding to re-open restaurant Viajante in Wapping November 10, 2015 The Michelin-starred head chef at Chiltern Firehouse is hoping to raise £1.75m on crowdfunding site Seedrs to re-open his restaurant Viajante, in a Victorian warehouse in Wapping. Nuno Mendes is offering 33.3 per cent of the equity in the new venture, along with rewards for big investors, ranging from priority booking, to private meals. The minimum investment is £10. The [...]
Don’t get too excited about the slower pace of rent rises, Londoners still pay £800 a month more than the rest of the UK November 10, 2015 Average rent in London, is 108 per cent higher than the rest of the UK, at £1,560 per calendar month, compared to £749 a month. Rents in the UK, excluding London, were up 3.5 per cent on the three months to October 2014, but the rate of increase has continued to slow since the July [...]
The government’s Help to Buy scheme almost doubles number of high loan-to-value mortgages with five per cent deposits for first-time buyers November 10, 2015 The government's Help to Buy mortgage guarantee scheme has almost doubled the number of high loan-to-value mortgages, for buyers who only have a five per cent deposit. The number of 95 per cent loan-to-value mortgages (LTV) issued, for buyers who need to borrow 95 per cent of property's value for a mortgage, increased by nearly [...]
