Applus share price hammered as the year of IPO upsets goes on July 29, 2014 The troubled performance of private equity-backed flotations continued yesterday after the Barcelona-based Applus saw its share price fall to its lowest level since its float only two months ago. Applus shares took a hammering, falling around 13 per cent on the day to finish on €12.20, below its Initial Public Offering (IPO) price of €14.50, [...]
St James’s Place funds under management soar to hit record July 29, 2014 Wealth Management firm St James’s Place (SJP) saw its funds under management for the first half of 2014 soar to a record £47.6bn, up 19 per cent on £39.9bn in 2013. The FTSE 100 firm was boosted by net inflow up 23 per cent to £2.44bn and a 95 per cent retention rate of existing [...]
Luton Airport IPO: Owner Aena Aeropuertos gears up for jumbo market debut July 27, 2014 Europe’s biggest stock market listing this year is on the cards after the huge owner of London Luton Airport appointed a host of banks to get the firm ready for a £4bn-plus issue in November. Spanish firm Aena Aeropuertos is gearing up to become a fully-listed public company after the Spanish government announced plans to [...]
Chief executive of Net-A-Porter Mark Sebba to stand down July 27, 2014 Mark Sebba, the chief executive of online luxury fashion retailer Net-A-Porter is to stand down later this week after 11 years, during which the company’s innovative approach has grown it into a major player in the sector. Sebba joined the company in 2003, only three years after it was founded by Natalie Massenet in [...]
Macquarie Group may sell its stake in Bristol Airport July 27, 2014 Bristol Airport, the ninth-busiest airport in the UK, may be changing ownership again soon as the Australian bank Macquarie Group is believed to be looking to sell its 50 per cent stake in the airport. Macquarie first bought Bristol Airport from owners FirstGroup and Bristol City Council in 2001 for £198m, together with Cintra, part [...]
Monarch Airlines looking to fly higher with private equity help July 27, 2014 Monarch Airlines, which returned to profit in 2013 after years of losses, could be about to get a private equity boost as the billionaire Mantegazza family, which founded and owns Monarch, may sell a stake in the airline. The budget airline was refinanced by the Mantegazza family in 2009 and 2011, with a further refinancing [...]
UK car production up 3.5 per cent so far this year July 24, 2014 Car manufacturing in the UK rose by 3.5 per cent in the first half of the year to hit nearly 800,000 units produced, helped by the launch of a range of new models, with more anticipated in the months ahead. The figures from the industry body the Society of Motor Manufacturers and Traders (SMMT), showed [...]
Royal Mail relief as shareholder revolt is averted July 24, 2014 ROYAL Mail chief Moya Greene’s £1.35m pay package was overwhelmingly approved yesterday as a threatened shareholder revolt failed to materialise at its annual general meeting (AGM) in Birmingham. The letter and parcel delivery company, controversially privatised last October, saw all resolutions at the sparsely attended AGM passed by well over 90 per cent, with only [...]
EasyJet cruises above turbulence but shares tumble five per cent July 24, 2014 EASYJET shares continued to slide yesterday after the company forecast annual profits for the year to 30 September would be between £545m to £570m, 14 to 19 per cent higher than last year, but slightly below a range of analysts’ forecasts. The budget airline said its third quarter revenues to 30 June had increased by [...]
Iberia agrees 1,400 job cuts July 24, 2014 IBERIA, the Spanish airline that merged with British Airways, will cut more than 1,400 jobs after an deal was reached with unions as part of a restructuring programme. International Airlines Group, the holding company for Iberia and BA, said in a statement the jobs cuts would affect pilots and ground staff, and follows a previous [...]
