Dunelm pays out £51m to investors September 12, 2013 Shareholders in the home furnishings retailer Dunelm Mill are to receive a £50.7m payout thanks to strong trading that has seen sales and profits soar. The out-of-town specialist has proposed a special dividend of 25p per share, on top of a 16p full-year dividend. The news came as it posted a 12.3 per cent rise [...]
Inside Track: Banker Ian Hannam is back in the fray – not before time September 12, 2013 IAN HANNAM’S announcement last week that he is financially backing Heathrow Hub, a scheme to boost the airport’s capacity, was also a reminder to the financial world at large that he is back in business. Hannam, who left his senior job at JP Morgan after being fined £450,000 by the City regulator for alleged market [...]
HR Owen shares jump 15pc as Berjaya Philippines ups its bid September 12, 2013 HR OWEN has told investors to keep the brakes on after Berjaya Philippines made an improved takeover offer for the car dealership. Berjaya, which took a 29.8 per cent stake in the upmarket motoring firm in June, yesterday raised its offer from the 130p per share it tabled in July to 170p per share, valuing [...]
Kentz plunges as Amec pulls takeover offer September 12, 2013 FTSE 100-listed engineering firm Amec yesterday said it would not make a takeover offer for smaller peer Kentz, quashing hopes of a deal ahead of Monday’s put-up-or-shut-up deadline. Amec made an approach last month of 565p to 580p per share, equating to £680m, but Kentz rejected the offer claiming it undervalued the company. Amec said [...]
Risky loans are back as house market booms September 12, 2013 MORTGAGE lending is up by almost one-third on the year, according to industry data out yesterday, as borrowers gain confidence and the market gathers pace. And the belief that a boom could be underway was backed up again by figures from surveyors group e.surv showing a rise in high loan to value mortgages. In July [...]
Vodafone UK chief leaving for top job at Canadian network September 12, 2013 VODAFONE UK chief executive, Guy Laurence, stood down yesterday with immediate effect to become chief executive of Rogers Communications, Canada’s largest mobile network. Laurence – who has held Vodafone UK’s top job since 2008 – will be succeeded by Jeroen Hoencamp, former chief executive of Vodafone Ireland. In a note to staff earlier today, Vodafone [...]
Met Police faces massive riot bill to replace Dizzee Rascal CDs September 12, 2013 THE METROPOLITAN police will have to pay out tens of millions of pounds to the insurers of a Sony warehouse in Enfield, after a court ruled that an arson attack was part of the 2011 London riots. The enormous distribution centre in north London burnt down at the height of the civil disturbances. But the [...]
IGas to explore for shale near to Manchester September 12, 2013 IGAS confirmed yesterday that it plans to drill an exploration well at Barton, near Irlam in Greater Manchester, to test for shale gas reserves. The energy company said it plans to drill a vertical well on the football pitch-sized site and that the process will take eight to 12 weeks. The controversial hydraulic fracturing, or [...]
Slowdown for the City as new speed limit rules are approved September 12, 2013 THE CITY of London voted in favour of a 20 mile per hour speed limit in the capital’s financial centre yesterday. The 20’s plenty campaign, which pushes for the slower speed to be adopted, commented: “A quarter of London is now committed to 20mph and other boroughs are watching the City’s decision.” The neighbouring boroughs [...]
Whiteleys shopping centre sold for £100m September 12, 2013 THE SALE of Whiteleys shopping centre, in Bayswater, has been concluded by Standard Life Investments UK. The site, part of which is grade two listed, was sold for over £100m to a buyer from Brunei in an off-market deal.
