Clinton project picks IPO banks April 9, 2012 For-profit higher education company Laureate Education, which has former US President Bill Clinton as honorary chancellor, has picked banks to lead an initial public offering that could raise as much as $750m. Laureate has chosen Morgan Stanley and Barclays to lead the proposed offering, sources said. Citigroup is also an active bookrunner in the IPO.
Thomas Cook nears a £1.2bn deal over debt April 9, 2012 STRUGGLING holiday group Thomas Cook confirmed yesterday that it is close to a deal to roll over some of its £1.2bn debt pile. The 170-year-old firm said it is in “advanced talks” and expects to have an agreement with its lenders, who include RBS and Barclays, in time for its half-year results in May. Thomas [...]
Barclays shrugs off criticism of executive pay April 9, 2012 BARCLAYS is relaxed about the row over bonuses for its top executives and would be unfazed if an expected 10 per cent of shareholders vote against its remuneration report, said a source familiar with the bank’s thinking. The bank has shrugged off criticism amid suggestions that four of its biggest British institutional shareholders could cast [...]
Why most investors don’t care if Diamond gets rich April 9, 2012 IT used to be big news if the likes of Standard Life, Scottish Widows, Fidelity and Aviva combined forces to vote against a company’s remuneration report. Such a roster of big British institutions would have had the clout and the votes to make the company reconsider its intentions or risk a very bloody nose. Hence [...]
Brasserie Bar wins £6m injection April 9, 2012 Brasserie Bar Co, the restaurant group fronted by celebrity chef Raymond Blanc has secured a £6m facility from Barclays to fund its expansion. The company, which recently acquired eight former Chez Gerard sites, plans to grow its French eatery chain Brasserie Blanc from 11 to 19 restaurants by the end of the year and a [...]
The man with the Big Four in his sights April 9, 2012 THERE is much that separates BDO, Britain’s number six accountancy firm, from the so-called Big Four. One of the lesser known differences is that Simon Michaels, the managing partner of BDO, didn’t go to university, instead taking a training place at the accountant immediately after his A-Levels in 1987. It certainly hasn’t held him back. [...]
Price jump hits hopes of easy money in China April 9, 2012 CONSUMER prices in China rose more sharply than expected in March, official figures showed yesterday, raising fears that the authorities may have less room than hoped to stimulate economic growth through lower interest rates. Inflation jumped to 3.6 per cent in the year to March, up from 3.2 per cent a month earlier and representing [...]
A new tax year: Start it as you mean to go on April 9, 2012 GOOD intentions are rarely in short supply, but most people are running huge deficits in acting on them. As always, the lead-up to the end of the last financial year saw a last-minute flurry of activity, with people rushing to sort out their tax, pensions and Isas. Old habits die hard, but it would pay [...]
Miners lift FTSE but UK factory figures cast shadow April 5, 2012 The FTSE 100 edged up this morning as miners were boosted by more positive data from China but a shadow was cast over the UK by bleak factory output figures. Investors were also eyeing the Bank of England’s interest rate decision at midday with rates expected to be frozen again with no more quantitative easing [...]
David Cameron unveils new Big Society bank April 4, 2012 DAVID Cameron yesterday announced the launch of a “Big Society bank” that will lend money to charities and other good causes. The fund expects to raise £600m in capital over the next four years, which it plans to lend to social enterprises that can prove they can repay the investment from their income. Around £400m [...]