Ed Richards delivers blow to Royal Mail as Ofcom rejects competition claims and launches investigation December 2, 2014 The postal service is finding it tough grappling with rivals while having to provide the universal service. Royal Mail was hit by a double-whammy of bad news yesterday after Ofcom rejected its claims that competition was undermining its ability to deliver a nationwide service. On top of that rejection, the regulator said it was launching [...]
Sinclair is back like a powered up Pac-man December 2, 2014 BRITISH video game legend Sir Clive Sinclair re-emerged on the scene yesterday, launching a crowdfunding campaign to create a new Spectrum computer equipped with all the classic games. The 74-year-old inventor was the brains behind the original ZX Spectrum computer range that found fame in the 1980s – one of the first mainstream home computers [...]
Kier Group admits to rival takeover talks December 1, 2014 British construction and property firm Kier Group confirmed yesterday that it had held preliminary discussions regarding the possible acquisition of infrastructure compatriot Mouchel. The Bedfordshire-based Kier said in a statement yesterday that it was in early discussions over a bid but that “there can be no certainty that an acquisition of Mouchel will be completed”. [...]
Aberdeen Asset beats forecasts for year’s profit December 1, 2014 BRITISH investment manager Aberdeen Asset Management yesterday reported better-than-expected profits for the financial year ended 30 September, despite seeing heavy outflows from emerging markets. The Scottish asset manager recorded a two per cent increase in underlying pre-tax profit to £490.3m. The figure was generally above analysts’ expectations, with Canaccord Genuity forecasting £480m. Net revenue was [...]
Investment assets back at pre-crisis levels December 1, 2014 THE AMOUNT of assets under management at the UK’s largest investment managers is now greater than it was before the financial crisis started, big four accountant KPMG said yesterday. The accountancy firm released its annual financial reporting by investment managers 2014 report, which analyses the most recent annual reports of the UK’s heaviest-hitting investment firms [...]
Macquarie replaces Bank of America as Bowleven’s nomad December 1, 2014 BRITISH oil and gas company Bowleven has hired Macquarie Capital as its new nominated adviser (nomad) on the Alternative Investment Market (Aim), following the resignation of Bank of America last week, the company announced yesterday. The Edinburgh-based firm said in a statement that it had appointed Macquarie with immediate effect to act both as its [...]
Fund considers £1bn move for Balfour Beatty’s investment arm November 30, 2014 JOHN Laing Infrastructure Fund (JLIF) is considering a £1bn bid to acquire the investment arm of Britain’s largest construction company, Balfour Beatty, it emerged yesterday. The offer from JLIF – one of Europe’s largest listed infrastructure funds – would be for Balfour’s portfolio of private finance initiative (PFI) contracts. The 60 PFI contracts are mostly [...]
Gfinity IPO: eSports mania set to hit London with sector’s debut float November 30, 2014 In a move that surprised many, Amazon forked out just under $1bn in August to acquire online electronic sports (eSports) TV channel Twitch. For the majority in the UK, it was a first introduction to eSports: the world of online competitive video gaming. The industry attracts not only people who compete against each other, but [...]
JP Morgan gets double top in adviser ranking November 30, 2014 JP Morgan Cazenove picked up two top placings this morning as financial data publisher Adviser Rankings unveiled its quarterly corporate advisers rankings guide for the fourth quarter of 2014. The US bank once again was named top stockbroker with 211 stock market listed clients. JP Morgan also topped the financial advisers table – again for [...]
UK plastics firm RPC Group buys Icelandic rival Promens for €386m November 27, 2014 British plastic packaging manufacturer RPC Group announced yesterday it was set to buy Icelandic rival Promens Group for €386m (£307m). The Northamptonshire-based firm is looking to partially fund the deal by raising £200m in a fully underwritten one-for-three rights issue at £320m. The remainder will come from RPC’s existing revolving credit facility, which the [...]
