Yell asks for loan flexibility November 14, 2011 Yellow pages publisher Yell Group has launched a loan amendment process aimed at reducing and refinancing its £2.6bn debt as it does not expect to grow by 2015. Yell asked lenders to relax its loan terms to provide it with the flexibility to explore ways to reduce its long-term borrowings. It intends to buy back [...]
Eros sees its profits soar November 14, 2011 Bollywood film giant Eros enjoyed an Indian summer yesterday as its revenues soared 35 per cent to hit $92m (£57.9m). It spiced up its balance sheet with pre-tax profits of $29m, up four per cent year-on-year. It enjoyed a bumper year of Bollywood hits including the release of Ready, Zindagi Na Milegi Dobara, Murder 2 [...]
Blinkx sees its shares tumble November 14, 2011 Video search firm Blinkx yesterday experienced a delayed-reaction tumble, as investors appeared to change their minds about its results last week. The Autonomy spin-off saw its shares plummet nine per cent after negative sentiment gathered over the strength of its core business, once the acquisition of US-based ad network Burst Media is stripped out. Collins [...]
DOWNTON LORD LANDS IN THE LAP OF LUXURY November 14, 2011 HE SURVIVED the Great War and Spanish flu and yesterday Lord Grantham – aka the actor Hugh Bonneville – made his first public appearance since the end of series two of Downton Abbey to present the Walpole awards for excellence. No austerity measures at the luxury body’s annual gathering, held in association with Coutts – [...]
Olympus break-up looms November 14, 2011 PRIVATE equity funds or trade buyers are likely to snap up the medical arm of scandal-hit Olympus, investors and customers said yesterday. Fund managers said the importance to hospitals of the lucrative endoscope arm means it is the equivalent of a bank which is “too big to fail” and would be bought if it becomes [...]
Hungry Lion roars back into black November 14, 2011 ASSET manager Liontrust is on the hunt for more acquisitions as it tries to restore its fortunes by entering new asset classes. Chief executive John Ions told City A.M. the firm has a £15m cash pile to spend on deals as it looks to grow organically and through buyouts. Liontrust is trying to rebuild its [...]
Colfax gets yes vote to buy Charter November 14, 2011 SHAREHOLDERS in engineering group Charter International accepted the £1.5bn takeover offer from US rival Colfax yesterday in two votes showing majority support for the cash and shares deal. More than 91 per cent of shareholders equivalent to nearly 88 per cent of all voting rights voted to accept a 910p per share offer from Colfax, [...]
Eversheds revenues up 7pc November 14, 2011 LAW firm Eversheds said yesterday that its performance in the first half of the year had been positive, with revenues climbing seven per cent compared to the same period last year. Revenues increased by £11.5m on the first half of 2010, leading to a £10m increase in net profit. Litigation services at the firm did [...]
Saba launches UK office November 14, 2011 SABA Capital, the $4.7bn hedge fund set up by ex-Deutsche Bank proprietary trader Boaz Weinstein is launching a new office in London as part of its first expansion outside of the US. Prakash Narayanan, former head of leveraged finance trading at Deutsche Bank, will run the UK office, which will focus primarily on research in [...]
Premier shares hit by food bug November 14, 2011 SHARES in Premier Foods tanked yesterday after its one of its Loyd Grossman curry sauces was recalled in a botulism scare and UBS downgraded its shares to a “sell”. The UK’s largest food producer has recalled tens of thousands of korma jars as a precaution, but its shares fell 11 per cent to just 5.74p [...]
