Wonga eyes first bond issue November 25, 2012 Wonga is eyeing a debt issue in order to boost its business lending arm. The online short-term lending company has so far been financing itself through equity from its founders and private investors, but is hoping that raising a bond will prove cheaper. Wonga for Business, which lends up to £15,000 to small businesses at [...]
Playtech eyes Greek bookie November 25, 2012 British gambling software company Playtech is weighing a bid for the Greek government’s stake in Opap, the country’s lottery machine and sports betting operator. Opap, which has a monopoly in Greece, has been weighed down by the country’s recession but remains profitable. The government has been forced to sell its 34 per cent stake as [...]
Less than 1pc of firms go bust during October November 25, 2012 FEWER and fewer firms are being forced into insolvency, data out this morning suggested, despite continued economic pressure on business. Just 1,685 firms went insolvent during October, according to data from Experian, down 8.7 per cent on October 2011, to make up just 0.08 per cent of the total business population. Nearly all firm sizes [...]
Berenberg says Eurozone will recover in spite of debt crisis November 25, 2012 RECESSION and crisis in Europe is obscuring the fact that economies are engaging in structural reforms which will pay off in the medium term, a study from Berenberg Bank said today. Bailed-out Greece, Ireland and Portugal have “shaped up fast,” with a swathe of “sweeping structural and fiscal reforms,” the bank said, suggesting that once [...]
Service sector business adds to employment as cheer returns November 25, 2012 FIRMS are planning to boost employment over the three months from November, data revealed today, just as optimism swung back into the positive regions. A net balance of seven per cent of firms working in consumer services planned to add to their workforce in the next three months, the data from the Confederation of British [...]
Firms want to support police November 25, 2012 NEW POLICE and Crime Commissioners (PCCs) should consider using the private sector to drive down the costs of non-core police work, the country’s top business lobby said this morning. The police could save some £1.5bn, the Confederation of British Industry (CBI) said, by opening up back office services such as human resources, finance, procurement and [...]
Save as you earn schemes fall November 25, 2012 The number of UK firms offering their employees Save As You Earn (SAYE) share option schemes has fallen by 15 per cent in the last year despite a push by the government for more of them, according to data released today. Just 510 companies offered SAYE schemes to their employees in 2010-11 compared to 600 [...]
Nissan taking Infiniti to Brazil November 25, 2012 Japan’s Nissan Motor Co said it plans to sell its Infiniti brand of luxury cars in Brazil starting in 2014, joining a number of automakers targeting the country’s buoyant high-end consumer market. The company, which is building a new manufacturing plant in Rio de Janeiro, said it will open two Infiniti dealerships in Sao Paulo [...]
CiU heading for Catalonia win November 25, 2012 The ruling Convergence and Union alliance, or CiU, was expected to get the most votes in regional elections in ‘s Catalonia yesterday, according to an exit poll by TV3, Catalan public television. CiU, whose leader Artur Mas says he will call a referendum on Catalan independence from Spain, was seen winning 54-57 seats in the [...]
City Moves | Who’s switching jobs November 25, 2012 Pioneer Investments The investment firm has announced three new hires. Hiromi Wada (right) joins from Itau Japan Asset Management. Martin Park joins from HSBC Global Asset Management. He has also held roles at Citibank. Finally, Matthew Marks joins from Prudential Asset Management. Caxton FX Tim Cooke has been appointed non-executive director at the foreign exchange [...]
