Matalan explores a sale to private equity firms October 25, 2009 DISCOUNT clothing and homeware retailer Matalan is being circled by several private equity firms interested in taking it over, it was confirmed by the company this weekend. The retailer has appointed PricewaterhouseCoopers (PwC) to advise it after receiving a string of unsolicited approaches by firms, including CVC Capital Partners. Matalan has been given a likely [...]
Oil prices fall to cut profits at UK majors October 25, 2009 Lower oil and gas prices and poor refining performance are set to hit third quarter profits at oil and gas majors BP, Royal Dutch Shell and BG Group this week. Falls in oil prices to about $80 (£49) a barrel last week, from an all-time high of $147 a barrel in July in 2008, are [...]
Just get over it oil giants make a lot of money October 25, 2009 I AM no fortune teller but I want to make a prediction: there will be a wave of righteous indignation at the “obscene” amount of money the oil majors BP and Royal Dutch Shell will make while good honest Britons are struggling their way out of the recession. Now, I’m not accusing some newspapers of [...]
CITY A.M. CELEBRATES A BIRTHDAY IN STYLE October 25, 2009 The Capitalist has been a regular guest at City parties over the past year, but it’s fair to say that none instilled a sense of pride quite like entering The Lamb pub in Leadenhall Market on Friday lunchtime. Friends, colleagues and supporters of City A.M. gathered at the pub – itself a beacon of Square [...]
City now sees slower paced UK recovery October 25, 2009 THE City was left wondering about the future of Britain’s economic recovery following dire and disappointing third-quarter GDP data, which showed a contraction of 0.4 per cent on the previous quarter. Prime minister Gordon Brown may have promised yesterday that the economy will return to growth by the turn of the year but economists warned [...]
Brown says ‘suicidal’ to make abrupt cuts to stimulus plan October 25, 2009 Prime Minister Gordon Brown said it would be “suicidal” to suddenly cut off the government’s fiscal stimulus in the economy, in his weekend podcast. Brown, who was speaking on the 80th anniversary of the Wall Street crash, said “times were still tough” but confidence was beginning to return in some areas of the British economy. [...]
Standard Life says it will not sell its Canadian unit October 25, 2009 INSURER Standard Life is not looking at selling off its underperforming Canadian business, according to a source, despite a report saying that it had asked its advisors to review the unit. “It is not the case that Standard Life is looking at selling its Canadian business,” said a source close to the situation. It follows [...]
WILL WE SEE THIRD QUARTER GDP FIGURES REVISED UPWARDS? October 25, 2009 RICHARD MCGUIRE RBC CAPITAL MARKETSWhile preliminary estimates of output are notoriously prone to revision, the clear indication here that the UK remains mired in an unprecedented recession provides a compelling argument in favour of the Bank opting for a precautionary increase in the QE limit come 5 November. PHILIP SHAW INVESTECThe continued contraction of the [...]
Miners set to tap investors October 25, 2009 SHAREHOLDERS in the recession-hit global mining industry will have to dig deep to help debt-laden companies recover and expand, a study to be published today will show. Miners struggling with huge deficits due to high borrowing in 2007/8 are likely to rely on equity fundraising as their major source of growth finance in the next [...]
Duke Street Capital seeks a Simple sale of skincare firm October 25, 2009 SKINCARE brand Simple has been slapped with a price tag of £250m by its private equity owner Duke Street Capital. Duke Street – which declined to comment – acquired Simple in early 2004 in a secondary buyout for £229m – but it is now looking to sell it following a number of unsolicited approaches for [...]
