The new Isa: Annual tax free allowances increased to £15,000 with Nisa June 30, 2014 The biggest overhaul of ISAs ever enacted comes into force tomorrow, with savers able to stash more cash in tax-free saving accounts every year. The New Isa, or Nisa, will see the annual allowance hiked from £11,880 to £15,000 – the biggest rise since ISAs were introduced by the government in 1999. The change, which [...]
Neil Bruce: The SNC-Lavalin boss who snared Kentz Corp June 30, 2014 SNC-Lavalin’s resources president Neil Bruce tells Michael Bow how he helped engineer the Canadian firm’s biggest-ever takeover The Canadian giant acquiring UK group Kentz Corporation is set to save C$30m (£27.5m) in a single stroke by de-listing the FTSE 250 listed group from the London Stock Exchange. SNC-Lavalin, which is on the verge of clinching [...]
AbbVie’s boss Rick Gonzalez jets in to chat up Shire investors about £27bn deal June 30, 2014 The chief executive of an American drug firm chasing UK rival Shire will lay the ground for a fourth bid to buy the group this week by touring City shareholders. AbbVie chief executive and chairman Rick Gonzalez will troop around Shire’s shareholders, which include fund managers like BlackRock and Legal & General Investment Management, to [...]
Aerospace sector in bullish mood after growth starts to accelerate June 30, 2014 THE UK aerospace sector is growing 10 times faster than the rest of the economy after ballooning nine per cent last year, according to a new trade report out today. The strong performance, which saw revenues grow to £28bn in 2013, is being driven by a surge in exports, the report from trade organisation ADS [...]
London Stock Exchange to buy Russell Investments for £1.6bn June 26, 2014 The London Stock Exchange went on the front foot yesterday to clinch the group’s biggest takeover in its 200-year history, landing a £1.6bn deal to challenge the dominance of its US rivals. The group will buy American index provider Russell Investments from Northwestern Mutual Insurance Company, after beating New York-based rival MSCI in a hotly [...]
Oxford Uni appoints Sir Paul Ruddock as investment boss June 26, 2014 SIR PAUL Ruddock, the co-founder of Lansdowne Partners, has been unveiled as the new chair of the Oxford University’s investment committee, his first major role since retiring from the group last year. Sir Paul will join the committee in September and become chair in January, taking over from Richard Oldfield. He exited the business he [...]
Behind the deal June 26, 2014 RBC CAPITAL MARKETS | JOSHUA CRITCHLEY 1 Critchley is the son of the late Conservative MP, Sir Julian Critchley. 2 He joined RBC Capital Markets in September 2009 and is currently managing director and head of European investment banking. 3 Prior to RBC, he was at Goldman Sachs from 2004 to 2009 and served at [...]
Bottom Line: Xavier Rolet proves his ambitious streak June 26, 2014 The market exchange sector is a dog eat dog world. Yesterday, London Stock Exchange boss Xavier Rolet bared his teeth and put the UK exchange on the front foot in the increasingly heated battle to control who trades what where. Never mind the audaciousness of snatching the group from under the noses of larger rival [...]
LED firm LPA lights up sales June 26, 2014 LED lighting maker LPA Group yesterday said it was playing “catch up” after half year revenues fell 7.8 per cent, but kept a bullish outlook for the rest of the year. The group, which makes lights for the transport industry, said pre-tax profits rose to £186,000 thanks to lower financing costs despite the dip in [...]
Surgeons make the cut in Spire Healthcare share sale proposal June 25, 2014 The UK’S second biggest private healthcare provider, Spire Healthcare, yesterday unveiled plans to raise £315m by selling shares to investors – including its own doctors and surgeons. The company, owned by private equity group Cinven since 2007, will give 7,000 employees, including 3,500 surgeons, the chance to buy shares in lots ranging from £500 to [...]