Timeweave tells shareholders to accept £50m Joe Lewis offer October 3, 2012 TIMEWEAVE, the company that part owns betting shop horse racing channel TurfTV, yesterday recommended shareholders accept a buy-out offer from billionaire Tottenham Hotspur owner Joe Lewis. Aim-listed Timeweave received the 22p per share offer from Lewis’s fund management business Mayfair Capital Investments in September, valuing Timeweave at just under £50m. The offer had initially been [...]
Salford-based Luxfer lists its shares in NY October 3, 2012 LUXFER Holdings, a speciality materials group, saw its shares rise on their first day of trading on the New York Stock Exchange yesterday, reaching 17 per cent above the offer price by mid-afternoon. The group is being brought to the US market by Jefferies, which recently led the successful flotation of Manchester United in the [...]
Lamprell issues fourth warning October 3, 2012 ENGINEERING firm Lamprell yesterday issued its fourth profit warning since the spring, sending shares on a downward spiral yesterday. In July, the Middle Eastern-based rig maker warned that delivery of two windfarm vessels had been delayed, which incurred additional costs. A separate construction project has now pushed revenue and profit from this year into next, [...]
Premier splits bread into a separate unit October 3, 2012 PREMIER FOODS said yesterday it had hired Geoff Eaton, the former boss of puddings manufacturer Uniq, as its new chief operating officer while also announcing a further shake-up of its business. Eaton, who left Uniq after it was taken over by Greencore, will replace Tim Kelly, who left the company following a management reshuffle last [...]
Olisa non-exec at Outsourcery October 3, 2012 THE HEAD of boutique technology merchant bank Restoration Partners has been appointed as non-executive chair of cloud-based IT services firm Outsourcery. Ken Olisa, whose technology career spans over 30 years, founded technology merchant bank Interregnum in 1992, leading its listing on AIM in 2000. Olisa is also director of Thomson Reuters, where he is a [...]
Is Lamprell’s profit warning a bad omen for the company? October 3, 2012 ANDREW WHITTOCK | LIBERUM CAPITAL It’s a management change after another profit warning. More cost overruns will lead to a further (unquantified) downgrade to 2012 expectations. John Kennedy states very clearly that there will be changes in the senior management team to make the best of a fundamentally sound business. MALCOLM GRAHAM-WOOD | VSA CAPITAL [...]
Oxford is world’s second best university but rest of UK falls October 3, 2012 THE UNIVERSITY of Oxford is the world’s second best university but other UK institutions are struggling, according to data released last night. The Times Higher Education World University Rankings show Oxford just pipped Harvard and Stanford to take second place on the list. It is joined in the top ten by Cambridge and Imperial College [...]
QE lifts reserves at Threadneedle Street October 3, 2012 THE HUGE expansion of bank deposits at the Bank of England continued in September, data revealed yesterday. The Bank received an extra £10.6bn deposits last month, bringing their total deposits to £262.3bn – with this month’s 4.2 per cent jump capping off a gigantic 110.3 per cent yearly climb. Driving this movement is the quantitative [...]
Our shadow MPC votes 8-1 against changing policy October 3, 2012 ALLISTER HEATH | CITY A.M. “No new quantitative easing and no further cut to rates. The money supply has bounced back – the broad measure is enjoying its fastest six-month rate of growth since 2008, a remarkable turnaround which suggests the Bank doesn’t need to expand the monetary base any further. Current real money growth [...]
Bank expected to sit on hands October 3, 2012 MARKET observers are expecting Bank of England policymakers to hold off on any further monetary policy interventions when they decide on rates and asset purchases today. Many analysts say there will be no rate cut nor any increase in quantitative easing (QE). “[The Monetary Policy Committee (MPC) meeting] is set to be a non-event,” said [...]
