US buyout firm Apollo lifted by capital markets May 8, 2012 SHARES in Apollo Global jumped yesterday after it boosted the listed buyout sector with a rise in first-quarter profits. The US private equity house, run by billionaire Leon Black, posted a 22.7 per cent rise in economic net income (ENI) to $462m (£286m). The performance of Apollo is eagerly watched following its $565m initial public [...]
FTSE closes above 5,800 mark after good US data boosts world outlook May 1, 2012 B RITAIN’S top share index jumped more than one per cent yesterday after stronger-than-expected US manufacturing data gave a lift to global growth hopes, pulling commodity stocks higher. Banks were also in demand as investor risk appetite returned. Shares of Lloyds rallied more than eight per cent after the part state-owned lender reported a £288m [...]
A recession made in Downing Street – but not caused by cuts April 26, 2012 IS this a recession made in Downing Street? In part, yes. Obviously, Gordon Brown is the main culprit. It will take years to recover from his mismanagement of fiscal, monetary, tax and regulatory policies, as well as from the global, cheap money bubble. But George Osborne can no longer escape blame either. His desire to [...]
A recession made in Downing Street – but not caused by cuts April 25, 2012 IS this a recession made in Downing Street? In part, yes. Obviously, Gordon Brown is the main culprit. It will take years to recover from his mismanagement of fiscal, monetary, tax and regulatory policies, as well as from the global, cheap money bubble. But George Osborne can no longer escape blame either. His desire to [...]
Scientific progress and emerging markets give us all hope April 19, 2012 I AM as guilty as anybody of excessive gloominess. To be fair, I have an excuse: the government is floundering; Abu Qatada is making a mockery of Britain; the UK economy is stagnant; unemployment is elevated; taxes are rising; the nanny state is gaining ground; the Eurozone faces years of misery and eventual collapse; China [...]
Cove bids back on after tax spat April 10, 2012 Bids for oil and gas company Cove Energy are set to recommence after authorities in Mozambique cleared up uncertainties over tax. Cove, whose major operations are in Mozambique, put itself up for sale in January, attracting suitors including Royal Dutch Shell and Thailand’s PTT Exploration. But the process stalled after Mozambique said any deal would [...]
Real tax reform is an impossibility until we shrink the size of the state April 4, 2012 EVERY year about this time, as the daffodils start blooming there is a call from some think tank, academic or economist for major tax reform. This year, it was Andrew Sentance, writing in The Forum. There are two responses that a politician can make to this. The wise but cautious one pays lip service to [...]
Canadian fund targets Goals transfer deal April 2, 2012 SHARES in Goals Soccer Centres leapt 24 per cent yesterday after an approach by a Canadian pension fund triggered hopes of a bidding war for the five-a-side chain. The stock pared its gains and closed up 16.28 per cent at 125p after the private equity arm of Ontario Teachers’ Pension Plan made a preliminary approach [...]
Give your finances a spring clean: A guide to tidying up all the mess April 1, 2012 SAVINGS Tom Stevenson, investment director, Fidelity WITH a new tax year approaching, the sun shining and a string of bank holidays ahead, spring is certainly in the air. Now is the perfect time for you to take control of your savings. The first step of any spring clean should be ensuring that your money is [...]
Advice for budding businesses April 1, 2012 ACCOUNTING ACCOUNTING is an unloved but essential discipline for entrepreneurs. Businesses that fail to keep the financial score are flying blind. Record and track your results to monitor your financial status. Measure sales, costs and working capital. Identify the key performance indicators (KPIs) that will keep your business on track, including orders, sales and gross [...]