Blackstone private equity to buy Boeing manufacturer MB Aerospace from Arlington Capital Partners October 26, 2015 Blackstone private equity fund is to buy Scottish-based engineering company MB Aerospace from US private equity fund Arlington Capital Partners for an undisclosed sum. MB Aerospace manufacturers and repairs aero-engine parts for customers including Rolls-Royce, Boeing, United Technologies Aerospace Systems, General Electric and the US Department of Defense, and has facilities in the UK, US [...]
UK is the darling of the European venture capital scene, attracting a third of investment October 26, 2015 European venture capital deals are getting bigger. The €3bn raised from July to September, a slight increase from the previous quarter, was from fewer deals, 355 to be precise – a five per cent decrease – according to data from Dow Jones. The United Kingdom was the favourite destination for investors (natch), attracting €947m across 87 deals, [...]
Former Sun editor Kelvin MacKenzie teams up with son Ashley and Invesco to shake-up Rightster board October 26, 2015 Ashley MacKenzie has joined forces with his father, former Sun editor Kelvin MacKenzie, Neil Woodford's investment management group and Invesco to oust the board of online video distributor Rightster. Chief executive Patrick Walker will step down and take-on a non-executive role, and non-exec chairman Mark Lieberman and directors Michael Broughton and David Mathewson will also [...]
Move over bankers: Fintech workers have seen some of the fastest salary growth this year October 26, 2015 They may not yet be on a par with bankers, but the UK's tech workers shared a bonus pot of £3.25bn in 2015, while their basic salaries have grown five per cent over the last financial year. The average IT worker's bonus is £6,681, equivalent to 12 per cent of average salary, which is up [...]
UK wine-production keeps gaining in popularity, with a 41 per cent increase in new labels October 26, 2015 It's been a vintage year for UK wine-makers, with 65 new producers registering with HMRC up 41 per cent from last year. There are currently 470 commercial vineyards in England and Wales, mainly producing sparkling wine as our slightly-damp climate and chalky soil is similar to conditions in Champagne. The growing numbers – more than [...]
Sugar tax debate: Sainsbury’s ready meal contains more sugar than a can of Coca Cola, reveals Public Health England October 25, 2015 Who says you can't have too much of a good thing? Well, some supermarket ready meals contain almost twice as much sugar as those often-vilified cans of fizzy drinks. Sainsbury's crispy sweet and sour chicken, is the worst offender, with 61.2g of sugar in a 400g serving, which is the equivalent to almost 13 teaspoons. [...]
UK smugglers’ gold jewellery could fetch £2.5m at action next week in Belfast October 25, 2015 Almost 150 kilos of smuggled gold jewellery, worth more than £2.5m, is set to be auctioned off next week. HMRC seized the loot in 2012 from a gang trying to smuggle it into the UK, as part of a £9m plot. The haul includes Asian gold rings, bangles and necklaces, along with a statue and [...]
Low oil prices mean Saudi Arabia could run out of money in five years October 25, 2015 Saudi Arabia could run out of cash in the next five years if oil prices stay as low as $50 a barrel. The painful effects of the tumbling oil price are starting to be felt in one of the world’s major oil producers, which is also the leader of Opec, Saudi Arabia, along with Oman and [...]
Guy Hands stands firm as Terra Firma braces for Four Seasons battle with creditors October 25, 2015 Guy Hands’ Terra Firma remains defiant in the face of reports that creditors and hedge funds are circling beleaguered care-home provider Four Seasons. Four Seasons Healthcare, Britain’s largest care-home operator, with more than 20,000 elderly residents was Terra Firma’s largest investment since its purchase of EMI, but it is struggling with interest payments of more than [...]
Politicians beware: 41 per cent of Londoners wouldn’t vote for a candidate who tried to ban Uber October 25, 2015 A new survey of Londoners has found that 41 per cent would be less likely to vote for a politician who tried to ban Uber, and two-thirds think Transport for London shouldn't have a say on how the car-hire app operates. The poll, conducted by Populus for Uber, is in response to recent TfL proposals, [...]
