Unilever share price drops after deal talks with Kraft Heinz fall apart February 20, 2017 Shares in Unilever finished more than seven per cent lower today after talks around a potential deal with Kraft Heinz were called off over the weekend. The proposed takeover was revealed on Friday, sending FTSE 100-listed Unilever's share price up 15 per cent, and Kraft's up by 4.3 per cent in pre-market trading in New York. [...]
Will Marine Le Pen’s Front National provide Europe with its next big political shock? February 19, 2017 With Marine Le Pen’s hard-right Front National leading the polls just over two months away from France’s presidential election, some have already marked May in their calendars as the next political shock in Europe. Is the result a foregone conclusion and what does it all mean for the UK in any case? Polling Day France [...]
Productivity rises consecutively for a year but slow growth will provide little boost to UK wages February 15, 2017 Productivity in the UK recorded a year of consecutive improvements for the first time in more than five years, despite slowing slightly in the final three months of 2016. Output per hour grew by 0.3 per cent in the three months to December, according to preliminary estimates by the Office for National Statistics (ONS), a slowdown [...]
Inflation: How far will UK consumer prices rise this year? February 14, 2017 Inflation has already hit a 31-month high, but economists are almost universally predicted a steep rise in consumer prices over the coming year. The Bank of England (BoE) expects consumer prices to rise to 2.7 per cent by the end of this year, but other economists think that might be at the more conservative end [...]
Fund managers plan executive pay crackdown to avert need for government intervention February 5, 2017 A group of fund manager giants have agreed to club together to combat excessive executive pay. Aberdeen Asset Management, M&G Investments and Standard Life Investments were among 13 firms involved in the recent pact. The agreement came after an 18 January meeting of the Investment Association, which came around the time Blackrock, the world’s biggest fund manager, indicated [...]
Investec is putting £30m towards this Fulham development February 3, 2017 Invetec is providing a £30m financing facility to developer Meyer Homes for the construction of 58 new homes in Fulham. The 24 month facility will also go toward the building of 9,000 square feet of retail space. In total, the plot is across one acre on Fulham High Street. The development will comprise 48 apartments – [...]
GVC shares jump after final quarter bonanza and debt savings February 2, 2017 Shares in online gambling firm GVC leapt nearly six per cent today after the firm revealed a jackpot fourth quarter that beat market expectations. Net gaming revenue (NGR), gross bets less associated payouts, jumped by nine per cent to €231m (£199m) in the final three months of the year. Read more: GVC shares jump after betting [...]
Bridgepoint buys £750m vehicle rental company from fellow private equity firm HgCapital January 30, 2017 The UK’s largest vehicle rental company has been traded between two private equity firms in a £750m deal. Bridgepoint this morning announced the acquisition of Leeds-based Zenith from HgCapital. Zenith, which also has operations in Solihull and Wokingham, has more than 500 employees and a fleet of around 85,000 vehicles. Read more: Is private equity [...]
No fireworks: Bank of England and Federal Reserve set to hold interest rates next week January 27, 2017 With both the Bank of England and the Federal Reserve set to meet it’s a big week for monetary policy, but don’t expect fireworks, economists say. Since the collapse of Lehman Brothers sparked the financial crisis, the top 50 central banks have cut rates over 700 times, according to JP Morgan. While Brexit and the [...]
City Moves for 26 January 2017 – who’s switching jobs? January 26, 2017 Today's City Moves cover a challenger bank, one of the best-known social media management platforms and a law firm. Take a look at these movers and shakers: Hampshire Trust Bank Chris Forsyth has been appointed as chief operating officer at Hampshire Trust Bank. In his executive role at the specialist challenger bank, which focuses on [...]