Carlyle snaps up Japanese packaging arm October 30, 2012 Carlyle Group yesterday said it will buy a Japanese unit of US food packaging company Sealed Air at an undisclosed price, in the private equity firm’s second Japanese acquisition in a month. Carlyle has agreed to acquire Diversey Japan, a major provider of cleaning, sanitation and hygiene products and services, from Sealed Air, the company [...]
British firms get lift from sale of Horizon nuclear power project October 30, 2012 BRITISH firms cashed in on the sale of Horizon Nuclear Power yesterday, as Babcock and Rolls-Royce won contracts to help Hitachi deliver its new build nuclear power project in the UK. Engineering support services company Babcock and power systems provider Rolls-Royce will help Hitachi with manufacturing, engineering and technical services at two sites in the [...]
Glencore set to offer a merger compromise for EU regulators October 30, 2012 COMMODITIES trader Glencore, hoping to speed its multi-billion pound takeover of Xstrata over its final hurdles, was last night gearing up to offer to sell part of the group’s zinc assets, meeting a deadline set by European authorities. Industry sources said Glencore’s desire to avoid an in-depth investigation in Brussels would prompt it to respond [...]
Who’s switching jobs October 30, 2012 Cushman & Wakefield The commercial real estate services firm has appointed Richard Davies as a partner and head of retail property and asset management in Europe, Middle East and Africa. He joins from Jones Lang LaSalle, where he was lead director for property and asset management in the UK. CVC Capital Partners The private equity [...]
Best of the Brokers October 30, 2012 BOOKER GROUP Investec upped its target price from 104p to 108p and reiterated “buy”. The broker said recent results showed Booker’s core still business has excellent momentum despite weather challenges. ARM HOLDINGS Jefferies has raised its target price from 485p to 693p and kept its “hold” rating after Arm posted better-than-expected quarterly figures last week [...]
NYSE expected to re-open for trading today October 30, 2012 THE US stock market was closed for a second straight day yesterday as cash equity trading was cancelled in the wake of Hurricane Sandy. Yesterday’s shutdown was the first time weather had resulted in a two-day market shutdown since the Great Blizzard of 1888. Exchanges expect to reopen today. NYSE Euronext said the New York [...]
Strong BP results fuel FTSE to a one per cent jump amid weak volumes October 30, 2012 BRITISH blue-chip index posted its biggest gain in two weeks yesterday after BP’s earnings topped forecasts, although volumes were among the lowest this year as US markets stayed shut. BP shares topped the FTSE 100 gainers, jumping 4.2 per cent after the oil giant lifted its dividend and delivered better-than-expected third-quarter earnings. The index closed [...]
The government should learn from big companies on local pay policy October 30, 2012 THE Heseltine Review, written by former deputy Prime Minister Michael Heseltine is published today. It recommends how growth might be spurred across the country by public sector bodies interacting more effectively with the private sector. One essential part of this plan – although unfortunately not included by Heseltine – is reform of how public sector [...]
If corporation tax didn’t already exist it would be madness to introduce it October 30, 2012 CORPORATION tax is back in the news. Starbucks is the latest company to be in the spotlight, having allegedly paid £8m corporation tax in 14 years, despite sales of more than £1bn. This became noteworthy when the Prime Minister waded into the debate, expressing his concern with the levels of tax some companies are paying. [...]
Europe’s new ban on short selling is a failed old policy October 30, 2012 TOMORROW, new regulations on short selling come into force across the European Union. Although designed to stabilise prices, they will have harmful effects on market quality, while producing few of the benefits claimed by their supporters. We’ve been here before. During the early stages of the financial crisis, politicians pulled every plug they could to [...]
