Vodafone will publish tender ratio for Kabel Deutschland deal on 16 September September 13, 2013 Following support for a Kabel Deutschland takeover, telecoms giant Vodafone has announced that it "will publish a final announcement with the definitive tender ratio on 16 September" (release). Having acquired the necessary 75 per cent minimum approval from Kabel Deutschland (KDH) shareholders, the German television provider will be purchased in a €7.7bn (£6.5bn) deal. €7.7bn [...]
Dell’s stockholders approve buyout by founder and Silver Lake September 12, 2013 Following a shareholder vote, Dell's buyout by Michael Dell and private equity firm Silver Lake has been approved. In connection with the transaction, Dell stockholders will receive $13.75 in cash for each share of Dell common stock they hold, plus payment of a special cash dividend of $0.13 per share to stockholders of record as [...]
Jeroen Hoencamp installed as Vodafone UK chief September 12, 2013 Vodafone UK has appointed Jeroen Hoencamp as CEO, successor to Guy Laurence. Hoencamp is currently Vodafone UK enterprise director. Hoencamp became Vodafone UK Enterprise Director in January. Prior to that he was Chief Executive of Vodafone Ireland for two and half years. Previously he held a number of marketing and sales roles in Vodafone Netherlands [...]
Four week average of US jobless claims hits March 2006 low September 12, 2013 US intial jobless claims fell 31,000 last week, to 292,000. Economists were predicting a rise from 323,000 to 330,000. The four week average of jobless claims is at its lowest level since March 2006.
Carney concedes that markets expect unemployment to drop faster than Bank of England projections September 12, 2013 Bank of England govenor Mark Carney has conceded that markets are pricing in a rate hike before the Bank of England's projections show unemployment falling to the central bank's seven per cent threshold. Carney said that until unemployment falls to seven per cent that rate hikes will not be considered. However, forward guidance documentation already [...]
Bank of America bullish on Britain – Sees UK stocks up 30 per cent by end of 2015 September 12, 2013 A note published today shows Bank of America Merrill Lynch is bullish on the UK's prospects. Their comments below. John Bilton, European investment strategist: After 5y of slow growth the UK recovery is picking up paceThe UK economy shrank 7% peak to trough in 2008/9; and in the last 4y grew at just 1% per [...]
Hot weather sees Argos sell more fans in two weeks than the whole of 2012 September 12, 2013 Home Retail Group, the owners of Argos and Homebase, has seen like-for-like sales grow at both retailers in the 13 weeks to 31 August (release). Argos has seen like-for-like sales up 2.7 per cent in the second quarter as net sales space rose 0.3 per cent. Some benefit from the recent UK heatwave, as Argos [...]
UK win over EU short-selling ban could open door to tackle swathes of legislation September 12, 2013 UK opposition to the European Union's "wide" powers to ban short-selling may be successful, as the rules could be unlawful, according to an EU court aide. Advocate general Niilo Jaaskinen: The emergency powers granted by that article to the European Securities and Markets Authority to intervene in the financial markets of member states so as [...]
Ocado sees sales swell ahead of Morrisons partnership September 12, 2013 It's been a really good 12 weeks for Ocado with confirmation that they'll be partnering up with Morrisons from early 2014. The e-grocer has seen gross sales up 18.8 per cent on the same 12 weeks to mid-August last year, reaching £189.2m (release). Orders are also looking more healthy. Per week numbers have risen 15.3 [...]
Engineering merger off as Amec gives up Kentz chase September 12, 2013 After a bid on 19 August, engineer Amec has given up on a purchase of smaller peer Kentz, concluding that "it does not intend to make an offer" (release). Amec's first proposal valued Kentz at £660m, an offer that shareholders found unappealing. Kentz have also commented on the withdrawal of Amec's offer (release): As previously [...]
