Permira pulls plans for dividend recapitalisation for Iglo group July 10, 2012 PERMIRA has pulled the plug on its plans to refinance the debt of its Birds Eye food group Iglo which would have seen the buyout house take a hefty dividend, the private equity firm said yesterday. Permira had lined up a dividend recapitalisation with Credit Suisse and Deutsche Bank just days after rejecting a €2.5bn [...]
Airbus bags a $4.2bn deal from Cathay Pacific airline July 10, 2012 AIRBUS has bagged itself a $4.2bn (£2.7bn) deal with Hong Kong-based airline Cathay Pacific, the jet maker announced yesterday at the Farnborough airshow. Cathay plans to buy 10 of Airbus’ new A350-1000 aircraft, worth a total $3.2bn at list prices, and spend an additional $1bn upgrading its existing order for 16 A350-900 planes to the [...]
Interserve wins £1bn in contracts July 10, 2012 Interserve yesterday said it had won contracts worth more than £1bn in the first half of 2012, reinforcing the strong future workload at the support services and construction group. The firm said it still expects trading to be “stable” in 2012, in line with market forecasts, after revenues and margins increasing as expected in the [...]
Private sales rise at Galliford Try July 10, 2012 Homebuilder Galliford Try said yesterday it has sold more homes at higher prices in its private housebuilding segment for the full year, largely benefiting from its focus on the south of England, and said the UK housing market has been stable. Completions including those from joint ventures rose 40 per cent to 3,039 units during [...]
Farepak customers to get 50p in £1 July 10, 2012 Customers of defunct Christmas savings firm Farepak will receive half of any money they lost when the firm collapsed, its liquidators said yesterday. BDO confirmed that payments to those that lost money will be made in August, with funds coming from a combination of an £8m payment from bank Lloyds, and a contribution from the [...]
CITY MOVES | WHO’S SWITCHING JOBS July 10, 2012 Argonaut Capital Partners The fund management firm has appointed John Lester as partner and head of distribution. He joins from Neptune Investment Management, where he was head of strategic partnerships. Lester was previously associate director at HSBC Asset Management. HSBC Patrick Boucher has been appointed global head of product management, equity research at the banking [...]
BEST of the BROKERS July 10, 2012 SSE Investec has upped its target price to 1479p from 1226p and upgraded SSE to “buy” from “hold” following an “upbeat” capital markets day last month and prospects of improved profit growth. WPP JP Morgan Cazenove has upgraded the communications giant, to “overweight” from “neutral” as it believes management changes at its market research arm [...]
Firmer performances by financial stocks lift FTSE as volumes stay thin July 10, 2012 A RECOVERY in beaten-down financial stocks pushed Britain’s benchmark share index higher yesterday, although volumes were thin, indicating a lack of conviction in the rally due to fears over the Eurozone debt crisis and the weak global economy. The blue-chip FTSE 100 index closed up 0.7 per cent, or 36.74 points, at 5,664.07 points, recovering [...]
US technology stocks drive down markets July 10, 2012 U S stocks fell for a fourth day yesterday as more pessimism from American companies compounded worries the sluggish world economy is taking a toll on US profit growth. A sales warning from engine maker Cummins came on top of earlier weak forecasts from chipmakers Applied Materials and Advanced Micro Devices, causing the market to [...]
I’ve been stitched up, says Terry July 10, 2012 FORMER England captain John Terry yesterday said he had been “stitched up right and proper” by allegations of racial abuse, as he took to the witness box for the first time in his high-profile criminal trial. Terry denied he had “snapped” and called Anton Ferdinand a “f****** black c***” in response to being taunted by [...]
