Blackstone mulls £1.5bn takeover of drinks bottler December 7, 2014 US PRIVATE equity giant Blackstone Group is considering a £1.5bn takeover bid for Refresco Gerber, Europe’s largest soft drinks bottler, it emerged yesterday. The US investment specialist is among several interested parties weighing up bids for the Anglo-Dutch company. Blackstone’s private equity rival KKR and CVC Partners are also rumoured to be circling, with bids [...]
Canary Wharf suitors look to one shareholder to back £2.6bn bid December 7, 2014 The two bidders for Canary Wharf, Qatar Investment Authority (QIA) and Brookfield Property Partners, are hoping to persuade one major shareholder in the east London-based financial district to accept their takeover bid. The pair made a new hostile takeover offer for Canary Wharf-owner Songbird Estates directly to shareholders on Thursday, worth 350 pence-a-share. Songbird subsequently [...]
Two-thirds of firms unprepared for employee supply shortage December 7, 2014 THE MAJORITY of UK employers are not equipped with a plan for hiring white-collar staff in talent-short markets, despite the increasingly competitive hiring landscape. In a report seen by City A.M., specialist recruiter Robert Walters has polled over 200 employers on their strategies for hiring professionals in a low-supply market. Of the respondents, 72 per [...]
Ethiopia becomes poorest country to issue bond December 4, 2014 The government of Ethiopia has launched its first ever dollar bond, becoming the poorest country ever to raise money in the international sovereign market, it was revealed yesterday. The bond is for $1bn (£638m) and has a term of 10 years. It also has the relatively low yield of 6.625 per cent – only one per [...]
Greene King reports lacklustre interims despite record sales December 4, 2014 BRITISH pub operator and brewer Greene King yesterday reported underwhelming interim results for the first of the 2015 financial year, in spite of record sales in the period. The Suffolk-based brewer recorded a 3.5 per cent decline in profit before tax and exceptional items to £82.6m for the first half, primarily on the back of [...]
Robert Walters stock up 11pc on trading update December 4, 2014 SHARES in British recruiting giant Robert Walters surged 11 per cent in trading yesterday, after the company forecasted better-than-expected profits for the full year ended 31 December. The multinational mid-market recruiter pointed to strong trading across all it markets in the first couple of months of the quarter as a reason for the boosted forecast. [...]
Blackstone Group deputy chief Tony James eyeing a job in US government December 4, 2014 Tony James, the chief operating officer and second in command of Blackstone, is weighing up whether to leave the American investment monolith to take up a senior position in a future US government, it was reported yesterday. Sources told Reuters that the 63-year-old James had not revealed when or whether he will leave the world’s [...]
Autumn Statement 2014: Isa reforms bring welcome tax relief for savers December 3, 2014 Britain’s thrifty received a welcome boost yesterday after new a number of reforms were applied to the country’s Individual Savings Accounts (ISA) and pensions policies. In the Autumn statement, George Osborne announced that from 2015 the ISA allowance will rise to £15,240, and the changes to the starting rate of savings tax will mean that [...]
Coalition raises pay thresholds December 3, 2014 THE UK’s tax-free personal allowance will be raised to £10,600 next year and the higher rate threshold will rise from £41,865 this year to £42,385 next year, it emerged yesterday. Announcing the changes, chancellor George Osborne said the personal allowance increase was the first step towards his goal raising it to £12,500 so that “people [...]
New measures offer boost to small business December 3, 2014 THE UK’s small businesses and entrepreneurs were heartened yesterday after a series of policy measures were announced aimed at providing them with better access to funding and investment support. In the Autumn statement yesterday, the chancellor announced the government would provide further funding for the Enterprise Finance Guarantee to facilitate up to £500m of new [...]
