Lloyds Bank private equity arm in the frame for Silverstone stake August 27, 2013 THE HOME of British motor racing Silverstone is nearing a landmark deal that could herald Lloyds Banking Group’s private equity arm investing in the legendary site. Silverstone Circuits, which promotes events at the Formula One and Moto GP racetrack, is understood to be in talks with Lloyds private equity arm LDC to take an investment [...]
Moelis UK subsidiary reverses loss to swing into stellar profits August 27, 2013 THE BRITISH arm of boutique investment bank Moelis & Company more than doubled revenues last year despite a dip in advisory services in Europe, its annual accounts shows. Moelis’ UK subsidiary, which is based in St Paul’s Churchyard in the City, saw fee revenue increase from £19.8m to £44.5m for the year ending 2012, according [...]
Acquisition costs see earnings slip at office space firm Regus August 27, 2013 OFFICE space supplier Regus’s first-half profit fell three per cent, it said yesterday, as restructuring costs related to an acquisition earlier this year hurt margins. Regus, which offers business lounges, meeting rooms and office space for rent for periods as short as half a day, reported that pre-tax profit fell to £31.1m for the six [...]
Raven Russia says warehouses full to the brim as demand soars August 27, 2013 A LONDON-listed property firm that supplies warehouse space for big blue-chip companies in Russia has seen earnings almost double in the last six months on the back of booming demand from fast-growing consumer firms. Raven Russia, which owns around 12 huge warehouses around Moscow and St Petersburg yesterday reported a 97 per cent jump in [...]
JLIF seeks £123m in share placing August 27, 2013 John Laing Infrastructure Fund yesterday announced plans to raise £123m through a share placing to refinance a bank loan. The company struck a deal on Friday to buy a portfolio of 11 assets from Investors in the Community, the fund’s biggest deal since its 2010 float, for £123m drawn from the bank facility. The share [...]
Plus500 kick off with profit boost August 27, 2013 Plus500, the newly listed spread betting firm, yesterday posted surging revenues and profits in its maiden results. The Israeli-based company, which listed on the junior stock market last month, said revenues were up 47 per cent and net profits 59 per cent versus a year earlier for the six months ending June. Chief executive Gal [...]
Antitrust body in Ryanair ruling August 27, 2013 Ryanair boss Michael O’Leary is set for disappointment this morning when the Competition Commission tells the airline how much of its near-30 per cent stake in Aer Lingus it must sell off. The CC said in May that the holding “could reduce competition on routes between Great Britain and the Republic of Ireland”. Ryanair has [...]
Sentances keep musical talent in the family August 27, 2013 EARLIER in the year The Capitalist invited readers to send word of any business-related songs they had come across in the workplace. The request led not only to the door of economist-slash-rocker Andrew Sentance, but also ex-MBA tutor – and friend of Sentance – Peter Cook. Now The Capitalist hears that the musical pair treated [...]
Omnishambles and bitcoin make it into Oxford Dictionaries online August 27, 2013 WORDSMITHS in the Square Mile will be pleased today, as Oxford University Press (OUP) has announced the latest additions to its online dictionaries. The Capitalist enjoys seeing City lingo making it into everyday lexicon – and the new round of entries includes plenty of financial vernacular. OUP’s 2012 Word of the Year omnishambles – “a situation that [...]
Kentz posts rise in profits as bid battle continues August 27, 2013 ENGINEERING and construction firm Kentz’s takeover approach from Amec reached a stalemate yesterday, after its first-half results failed to impress the larger rival’s management or shareholders, City A.M. understands. The FTSE 250-listed firm posted a two per cent rise in revenue to $775.2m (£498.8m) and a 2.9 per cent increase in pre-tax profit to [...]
