Crest Nicholson to return to stock market January 21, 2013 Housebuilder Crest Nicholson said this morning it would launch an IPO in a bid to return to the stock market five years after it was taken over during the housing crisis. Crest Nicholson, which primarily operates in the South of England, said the offer would comprise new and existing shares. The primary proceeds of the [...]
What the other papers say this morning January 20, 2013 FINANCIAL TIMES AllianzGI to launch UK building fund Allianz Global Investors is to launch a pioneering infrastructure debt fund in the UK – the first of its kind – to help build schools, hospitals and roads in a landmark initiative designed to create jobs and stimulate the faltering economy. Tax crackdown to target middle class [...]
FTSE 100 up as Chinese growth recovers January 18, 2013 The FTSE 100 was firmly up in early deals this morning, as it was lifted by headline natural resources shares on the back of a rebound in Chinese growth. The Chinese economy expanded by 7.9 per cent in the fourth quarter, coming in above expectations and marking an uptick from the 7.4 per cent recorded [...]
Barclays tells staff to behave well or get out January 17, 2013 STAFF at Barclays must obey a new code of conduct or leave the bank, chief executive Antony Jenkins said yesterday, in an internal memo sent to staff. Six months on from the bank’s £290m Libor fine and several years into the payment protection insurance (PPI) scandal, Jenkins has laid down a set of five basic [...]
E*Trade to name Idzik as chief executive January 17, 2013 E*Trade is expected to name former Barclays chief operating officer Paul Idzik as its chief executive, according to Sky News. Idzik, who left Barclays in 2008 and then headed estate agent DTZ until 2011, would be the US online retail brokerage’s fifth chief executive since 2009. E*Trade, which made a $157m profit in 2011, after [...]
Rio Tinto drags FTSE 100 down January 17, 2013 Mining giant Rio Tinto weighed heavily on the FTSE 100 this morning, trading down around 3.5 per cent. This morning it said chief executive Tom Albanese would step down following a $14bn impairment charge relating to several acquisitions. Charles Gibson, head of mining at Edison Investment Research, said this morning: “When a company writes off [...]
Tui Travel and German parent in merger talks January 16, 2013 TUI TRAVEL is in talks to merge with its German parent Tui AG, it announced yesterday, sending its shares up four per cent. However, analysts have raised concerns that the nil-premium merger will not be enough to entice Tui’s UK shareholders. FTSE 100-listed Tui Travel, the group behind holiday companies Thomson and First Choice, said [...]
A feathered and furry flock at St. Paul’s cathedral yesterday January 16, 2013 TRACTORS, combine harvesters, chicken, sheep and other furry animals took up residence outside St. Paul’s yesterday. City workers flocked to the cathedral at lunchtime, sandwiches in hand, to get a closer look at the animals, who seemed to be munching their way through a fair few Pret scraps themselves. Plough Wednesday takes place to remind [...]
Anglo American leads FTSE 100 down January 16, 2013 Global miner Anglo American led the FTSE 100 down this morning as one of its mines was hit by a strike following yesterday’s review of its platinum operations in South Africa. Amplats, which is 80 per cent owned by parent Anglo American, yesterday said it would divest of a mine complex and close four shafts, [...]
Banks lined up on $24bn Dell buyout January 15, 2013 TALKS to take struggling personal computer manufacturer Dell private are in an advanced stage, it emerged last night, with several large banks being tapped for funds to make a bid possible. A bid led by US buyout firm Silver Lake Partners is being prepared with the blessing of Michael Dell, the company’s founder and chief [...]