What the other papers say this morning – 02 May 2014 May 1, 2014 FINANCIAL TIMES Ebay settles DoJ ‘no poach’ probe Ebay is the latest Silicon Valley company to settle with US authorities over allegations it struck illegal agreements with rivals to not hire their employees. The ecommerce company will pay California $3.75m, some of which will go to compensating employees affected by a so-called “no poach” agreement [...]
Inside Track: TSB and Saga lead the way in a retail investor return May 1, 2014 SO AT last there’s some cheer for the retail investor, whose presence in the new issues market has recently been all but forgotten by those in charge of floating companies on the London market. Much of the euphoria surrounding the retail stampede for shares in Royal Mail, which was supposed to herald a new beginning [...]
Fat Face unveils London listing to pay off debt May 1, 2014 FAMILY friendly retailer Fat Face yesterday became the latest private equity-backed retailer to tee up a listing on the London stock market, after announcing plans to raise £110m to cut debt. The business, which has about 200 stores across the UK, will offer shares to City fund managers after private equity backer Bridgepoint moved to [...]
City Moves for 02 May 2014 | Who’s switching jobs May 1, 2014 Henderson The asset management firm has announced the appointment of James de Bunsen as co-manager of its value trust division. He joined in January 2013 as manager of the Henderson Multi-Manager Absolute Return fund from Armstrong Investment Managers. De Bunsen also previously spent five years at Insight Investment, where he was part of its UK retail [...]
Saga puts retail investor at heart of London float April 30, 2014 SAGA, the over-50s holidays-to-insurance provider, yesterday unveiled plans for the biggest flotation in London this year, as a stampede of silver haired savers registered to snap up shares in the listing. The business, which was founded by east end hotelier Sidney De Haan in 1950, said it would raise £550m in an initial public offering [...]
Home Retail Group to open new smaller Argos stores in London April 30, 2014 HOME Retail Group announced yesterday it will trial two new formats of its Argos stores as well as extend its new digital concept stores and ramp up its home delivery offer as the retailer continued to turn itself around. The group, which reported a 27 per cent rise in full-year profit yesterday, said it will [...]
Fat face to confirm float April 30, 2014 RETAILER Fat Face will this morning announce its intention to float on the London stock market, the latest retailer to join the stampede to raise funds from an IPO. Private equity owner Bridgepoint is set to sell some of its stake.
City Moves for 01 May 2014 | Who’s switching jobs April 30, 2014 MHA Macintyre Hudson The accountancy firm has announced the appointment of Matt Coward as a tax partner in its London City office. Coward is a chartered tax adviser and member of the Society of Trust and Estate Practitioners. He joins from Price Bailey, where he was a private client tax partner. DAC Beachcroft The law [...]
Sainsbury’s launches mobile scan and go trial April 30, 2014 Remember those hefty handheld “scan as you shop” machines in supermarkets that allow you to avoid queuing at the check-out? Sainsbury’s has rebooted this concept with an app that allows shoppers to scan, pack and pay for their shopping using their smartphone before collecting a receipt and exiting the store. With its “mobile [...]
Saga confirms £550m IPO plans April 30, 2014 Over 50s travel specialist Saga has confirmed this morning that it’s planning to go ahead and float on the London Stock Exchange. The firm, which also sells insurance and has 2.1m customers, joins a growing line of other companies going to market. It’s said it’s looking to raise net proceeds of £550m through its initial [...]