UK private equity firm’s shares leap after £1bn US takeover offer September 12, 2016 UK private equity company SVG Capital’s share price jumped 15 per cent today after US rival HarbourVest made a more than £1bn takeover offer. The all-cash offer of 650p per share values existing issued share capital at around £1.015bn. The company said the offer is “highly attractive”, saying it represents a 14.7 per cent premium on SVG’s [...]
Beta version of pensions dashboard due by next March after Treasury signs agreement with 11 largest insurers September 11, 2016 A prototype of the government's long-awaited pensions dashboard is due to be ready by March next year, after the UK's biggest pension providers gave the project a green light. The Treasury has secured an agreement from the 11 groups, including Aviva, HSBC, Royal London, Standard Life and Zurich, to build the prototype, while the Association [...]
Sports Direct chairman Keith Hellawell tells City A.M.: “My past is dealing with child murderers, I don’t have a problem saying no in board meetings” September 8, 2016 As Mike Ashley stood sweating under the lights of TV cameras in Sports Direct’s warehouse yesterday, he urged journalists to allow investors some room. Everyone wore high-visibility jackets, but the shareholders were relatively hard to see. The company’s founder had no real intention of listening to investors, though; he was just keen to manage the [...]
City Moves for 7 September 2016 | Who’s switching jobs September 7, 2016 Opus Opus Global, the provider of SaaS-based compliance solutions, has appointed Emanuele “Manny” Conti as chief executive officer. Emanuele brings more than 20 years of leadership experience in the risk management and data analytics industries, with a proven track record of building global growth-oriented businesses. He was most recently CEO of Kroll and before that, president [...]
The Great Fire of London made the city an insurance hub – here’s what we need to do to maintain that status September 2, 2016 This week we’re marking the anniversary of one of London’s defining events: the Great Fire of London, which ravaged the city at the start of September 1666. It was started by nothing more than a fire from an overheated oven at a baker’s shop near London Bridge. The damage was immense. The Association of British [...]
Betting: Sarries to win it again – but Wasps can provide a sting in the tail September 1, 2016 The rough and tumble of the Aviva Premiership returns on Friday and, on the face of it, Saracens will once again be the team to beat this season. With a forward group hardly shy of confrontation, their famed ‘Wolf Pack’ has flipped Burgers at flanker, swapping cult hero Jacques for his namesake, legendary South African Schalk. [...]
Canada Life re-opens its property fund as the commercial property market shows “stabilisation” after the Brexit vote September 1, 2016 Canada Life has re-opened its commercial property funds after investors withdrew cash in the wake of the Brexit vote – but the firm has admitted its property valuations may be inaccurate due to current market conditions. When investors scrambled to take out money from property funds at the end of June, Canada Life and several other firms were [...]
Standard Life on the hunt for a Brexit guide to add to its public affairs knowledge August 31, 2016 Those with a head for Brexit-related red tape might want to dust off their CVs, as insurance and pensions company Standard Life is looking out for somebody to help guide it through the referendum fallout. The new hire will report to Graeme McEwan, chief communications officer, and will help advise the FTSE 100 firm on policy [...]
Shareholder groups pile the pressure on Mike Ashley as new groups speak out against the retail tycoon August 26, 2016 Fresh voices are adding to calls for a shake up at Sports Direct, with investors demanding a review of corporate governance and some shareholders even urging the retailer's founder Mike Ashley to step down from the board. Ashley has faced a volley of criticism after admitting to the Business, Innovation and Skills (BIS) select committee [...]
Firing on all fronts. Leicester is voted Britain’s greatest sporting city August 23, 2016 Leicester City may be making a stuttering start to their defence of the Premier League title but last season's heroics helped them jump to the top of the UK's greatest sporting cities of 2016. Leaping 17 places and pushing Manchester down to second place, Leicester's success wasn't just down to its football team. Leicester Tigers made the Aviva Premiership rugby [...]