Coin and stamp giants set to mint new firm September 12, 2013 A GIANT of the stamp collecting world yesterday teed up a takeover of one of world’s oldest rare coin collectors after making a bid to buy the firm. The Stanley Gibbons Group, the 150-year old group offering rare stamps, has approached coin and stamp collection business Noble Investments with an offer to buy it [...]
Apcims set to rebrand itself as Wealth Management Association September 12, 2013 THE ASSOCIATION of Private Client Investment Managers and Stockbrokers (Apcims) said yesterday it will rebrand itself as the Wealth Management Association (WMA). The trade body will vote on the name change at its annual meeting at the beginning of next month. “We are changing our name, but not what we do,” said chief executive Tim [...]
Kier increases dividend but profits decline September 12, 2013 FTSE 250-listed construction group Kier yesterday said it was optimistic about a UK economic recovery and increased its full-year dividend by three per cent, despite a fall in revenue and profit. The firm, which acquired support services provider May Gurney in July, posted a nine per cent decline in pre-tax profits to £63.4m, in line [...]
Shell hires John Abbott as new director of onshore operations September 12, 2013 FTSE 100-listed oil giant Royal Dutch Shell yesterday named John Abbott as its new downstream director and said that he would join the executive committee. Abbott joined Shell straight from university in 1981 and is currently executive vice president of manufacturing. He takes on his new role on 1 October, replacing Ben van Beurden, who [...]
Bakrie-backed energy group Persada calls off rights issue September 12, 2013 AN INDONESIAN energy firm with ties to the Bakries has called off its controversial rights issue that it had planned to fund an oil field takeover, citing market volatility. Energi Mega Persada (EMP) has delayed its shareholder vote on the plan indefinitely, the Jakarta-listed firm said in a statement yesterday. The company, in which the [...]
Richemont warns of slowing China demand September 12, 2013 LUXURY goods group Richemont, which owns brands including Montblanc and Net-a-Porter, saw sales growth in Asia slow to four per cent in the five months to 31 August compared with 12 per cent a year ago, dragged down by weak demand for watches in mainland China. Overall sales were up nine per cent, helped by [...]
House firm Miller’s revenues soar September 12, 2013 House-building group Miller yesterday posted a 27 per cent jump in half-year revenues to £361.5m and a nine-fold rise in profits to £4m as sales and asking prices rose. Privately-owned Miller, which completed 819 homes across the UK in the period, said it has already secured buyers for 92 per cent of its full-year target [...]
Eurocell seals the deal September 12, 2013 The UK’s biggest window frame recycler was sold yesterday by its private equity backer, sealing a deal more than 15 years after the two first joined forces. Derbyshire-based Eurocell, which makes the plastic trim around window frames, has been sold by Belgian owner Tessenderlo, which first bought the company in 1998. The group has been [...]
Gulf Keystone hires Deutsche Bank September 12, 2013 Gulf Keystone Petroleum, the oil and gas explorer that won a longstanding court case earlier this week against Excalibur Ventures, yesterday said that it has hired Deutsche Bank to advise on its proposed move from Aim to the main market. “We are making progress in achieving our goal to move to the main market by [...]
City Moves for 13 September 2013 | Who’s switching jobs September 12, 2013 Aviva Investors The investment management business has appointed Andrew Davey as assistant fund manager to its Lime Property Fund. He joined the company in 2007. Deloitte Real Estate Steve Johns has joined the real estate business to head its City leasing team. Johns previously spent 17 years at Cushman & Wakefield, and was most recently [...]
