British manufacturing’s long decline could be about to end March 11, 2014 ROSS Perot, as a US presidential candidate in 1992, infamously decried “the giant sucking sound” of jobs being exported abroad as a result of free trade. It was populist nonsense, of course. Trade creates far more jobs than it destroys – and London’s high value added economy wouldn’t exist without it. That so many low [...]
Investors rush to grab a piece of Poundland March 11, 2014 POUNDLAND is expected to sell shares in its stock market float at the peak price of £3 each today after a hotly contested battle to own a piece of the discount retailer. The high street store, which sells all its items for £1, announced plans last month to float in a deal which values the [...]
What you need to know before the open March 11, 2014 European markets are expected to open higher this morning, with more economic data to focus on today – although there are still concerns over Ukraine and growth in China. The UK's Competition and Markets Authority has said it’s starting a new review into retail banking, focusing particularly on banking for SMEs. Corporate news Barratt Developments [...]
No signs of let up in London’s flotation flurry March 10, 2014 INVESTORS will intensify their love affair with the new issues market today as high street stalwarts Pets at Home and Poundland close the books on their multi-million pound London floats. Yesterday foreign exchange business Travelex became the latest UK firm to say it was exploring an initial public offering (IPO) while Israeli digital advertising firm Matomy [...]
Asos Indian rival Koovs raises £22m in London market debut March 10, 2014 AN INDIAN online fashion retailer set up by the former chairman of Asos launched on London’s Aim yesterday after raising raised £22m via a share placing. Shares in Bangalore-based Koovs were placed at 150p but jumped to 184p last night, valuing the company at around £44m. The company was founded in 2012 by Lord Alli [...]
Investors in last minute dash to grab Poundland March 10, 2014 BUDGET chain Poundland will close the books on its forthcoming London float tomorrow night, with a late surge in demand meaning the offer could end up 10 times oversubscribed. The high street store has so far seen solid demand from institutional investors keen to buy shares, helping back an early decision by the firm not [...]
Moonpig owner is set for £500m listing in London March 10, 2014 PHOTOBOX is preparing for a London Stock Market listing that could value the photo printing group at up to £500m, after the £1.6bn flotation of online retailer AO World and upcoming flotation of Pets at Home whetted investors’ appetites for London retail stocks. The firm, which sells personalised t-shirts, mugs and cards as well as [...]
Terence Conran cedes control of business to son March 10, 2014 SIR TERENCE Conran has handed over full control of his design empire to his son Jasper, to focus on his work with the Design Museum and expanding his chain of Albion cafes. The 82 year-old designer, restaurateur and founder of the Habitat brand has stepped down as chairman of Conran Holdings but will remain on [...]
Here’s the new app you can use to check your cash is real March 7, 2014 The Bank of England (BoE) has just announced the release of its new banknote app. The app provides the user with an interactive touch screen guide to the BoE's banknotes as well as checks on their security features. The £20 note has eight such security features. The Bank says the app is free and aimed [...]
John Roberts defends adviser in £1.2bn float March 6, 2014 AO World’s blockbuster IPO was 18 months in the planning THE founder of the Bolton-based fridge retailer AO World, which has provided the most spectacular flotation in the London markets so far this year, yesterday staunchly defended the £12m fee his group agreed with Rothschild, the independent financial adviser on the deal. “£12m is a [...]