Foxtons’ float to land bosses £100m windfall August 26, 2013 LONDON estate agency Foxtons is poised to make a move onto the London Stock Exchange that could land its senior management team a £100m windfall. The company, which was founded more than 30 years ago in Notting Hill, is expected to announce today its intention to pursue a public flotation that could value the business [...]
Carphone Warehouse completes £650m refinancing with lenders August 26, 2013 MOBILE phone retailer Carphone Warehouse announced today it has signed a huge refinancing deal with its banks, helping to fund the recent £470m buy out of its joint venture partner Best Buy in Europe. The London-listed group has sealed two loans worth £650m from its syndicate of lenders, in one of the largest underwritten deals [...]
Revellers delight in Notting Hill Carnival August 26, 2013 HUNDREDS of thousands of people flocked to west London yesterday to enjoy the second day of the Notting Hill Carnival, one of Europe’s biggest street festivals. Now in its 49th year the carnival, which is led by members of the West Indian community, saw hundreds of costumed performers and colourful floats parade through the streets [...]
Microsoft board weighs options for new leader August 26, 2013 APPLE’S co-founder yesterday warned Microsoft against resting on its laurels as the company starts its search for a new chief executive. Steve Wozniak, who joined forces with Steve Jobs to launch Apple’s first personal computers, told the BBC that the company behind Windows had offered customers dated products and “no really great new surprises” in [...]
Bottom Line: Ballmer’s retirement is perfect timing August 26, 2013 There is never a perfect time for this type of transition,” Steve Ballmer said last week when he announced his retirement. But as far as shareholders are concerned now is the perfect time. The fact that the shares went up over seven per cent last Friday is evidence of that. The firm, which Ballmer has [...]
Medical assessments to set retirement income August 26, 2013 PEOPLE approaching retirement should prepare to have all aspects of their medical history analysed when they purchase an annuity, a top insurance company boss has told City A.M. “You can’t stop the march of science,” said Clive Bannister, chief executive of FTSE 250 life assurance consolidation firm Phoenix Group. “Annuities have typically been priced on [...]
New York judge orders JP Morgan to pay $42.5m to Len Blavatnik August 26, 2013 A NEW York state judge has ordered JPMorgan Chase & Co to pay the billionaire Leonard Blavatnik $42.5m (£27.3m) plus interest, finding the bank liable for breach of contract after it was accused of mismanaging an investment account by betting on risky mortgage securities. In a decision made public yesterday, New York State Supreme Court [...]
Wind turbine market to surge as investors dash for renewables August 26, 2013 SIEMENS, the world’s number three maker of wind turbines, expects the global wind power market to more than quadruple by 2030, lifted by strong growth in Asia. “The market will shift away from Europe significantly,” Markus Tacke, chief executive of the German company’s Wind Power division, said at a renewable energy conference in Berlin. He [...]
Prefequity takes maiden stake August 26, 2013 PREFEQUITY, the mid market private equity house, has teamed up with BNY Mellon’s credit subsidiary Alcentra to make its maiden investment. The Mayfair based company, co-founded by former Merrill Lynch director Theo Dickens, will back Altrincham based business CorpAcq, an investment firm. The deal is Prefequity’s initial investment from its first Prefequity Growth Capital Fund. [...]
Activist investor Loeb ups stake in Sotheby’s August 26, 2013 SHARES in Sotheby’s shot up during afternoon trading in the US yesterday, after its was revealed that activist investor Dan Loeb’s Third Point hedge fund had upped its stake in the auction house. Third Point spent $156.7m (£101m) to take its stake in Sotheby’s to 5.7 per cent, according to a regulatory filing made in [...]
