WHAT THE OTHER PAPERS SAY THIS MORNING June 29, 2011 FINANCIAL TIMES BRITISH LAND TO BUY RESIDENTIAL COMPLEX IN THE CITY British Land is in advanced talks to buy a City of London residential complex, in its first acquisition under a strategy to focus on the booming market for prime homes in the capital. The UK’s second-largest property company has agreed to buy Wardrobe Court [...]
Lenders slash mortgage rates to the lowest levels on record June 27, 2011 MORTGAGE interest rates have plummeted to an historic low, as lenders expect the Bank of England to persist with its loose monetary policy. Both tracker and fixed rate mortgages have slipped to their cheapest levels since 1988, when the website Moneyfacts began collecting the data. “An imminent rise in the Bank base rate now appears [...]
CRUNCH TIME FOR THE HIGH STREET June 26, 2011 FASHION retailer Jane Norman was on the brink of collapse this weekend, after all of its stores across the UK were closed for business, signalling imminent insolvency. Zolfo Cooper, the US accounting firm, has been lined up to put the distressed fashion retailer into a pre-pack administration, which could be approved in court as soon [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 20, 2011 FINANCIAL TIMES ASTRAZENECA TO OFFLOAD SWEDISH DIVISION AstraZeneca is in final talks to sell Astra Tech, the Swedish healthcare and dental business, to Dentsply International in a deal that could value the group at about $1.8bn (£1.1bn). The US dental equipment maker has outbid other potential buyers, including private equity group EQT Partners and medical [...]
Blackstone to investigate Northern Rock acquisition June 19, 2011 US PRIVATE equity giant Blackstone is in line to receive an information memorandum on Northern Rock, making the firm one on a short list of potential buyers for the nationalised lender when it is auctioned later this year. A source familiar with the matter told City A.M. that Blackstone will request the memorandum, due to [...]
Marubeni considers North Sea retreat June 19, 2011 A JAPANESE trading conglomerate is the latest firm to consider leaving its oilfield in the North Sea following George Osborne’s 12 per cent tax hike on the industry. Marubeni Corporation has put up for sale all but one of its North Sea oilfields, according to a weekend report. It is said to have hired Standard [...]
BEST OF THE BROKERS June 15, 2011 3i GROUP Killik & Co notes that 3i issued a release this week announcing the sale of its stake in Ålö, a manufacturer of front-end loaders for tractors, for €240m. The sale sees 3i make approximately a four times money multiple on its original investment. The broker says 3i trades on a 22 per cent [...]
Retail figures drive US markets rally June 14, 2011 US stocks posted their biggest gains in nearly two months yesterday as retail sales figures allayed fears over the economy that had driven a six-week slump in the market. Many analysts said the rally was likely a one-day wonder. Though still weak, the retail sales data was not as bad as most had expected, which [...]
HOUSE OF THE RISING MEDIA BARON: DESMOND PLOTS THE ANIMALS GIG June 14, 2011 THE CAPITALIST had an entertaining conversation with Richard Desmond this week, in which the media baron revealed the next rock frontman he would like to enlist to perform with his charity band The Crusaders is… Eric Burdon of The Animals. Desmond was speaking at a preview of his CNBC interview with Channel Five presenter Tania [...]
Making hay the Andrew’s Pitchfork way June 13, 2011 SOMETIMES, trying to find swing points and the right opportunity to take a profit can feel like looking for a needle in a haystack. But using an Andrew’s Pitchfork can give traders a helping hand to identify these points. Though it has fallen out of the mainstream in recent years, the Andrew’s Pitchfork can still [...]