Hiscox shores up flood reserves as earnings rise February 24, 2014 SPECIALIST insurer Hiscox yesterday revealed a 12.4 per cent jump in annual pre-tax profit to £244.5m, as the glut of hurricane and catastrophe claims seen in 2012 did not repeat itself. Chief executive Bronek Masojada said it had been “a very good year” for the London-listed group. “We are excited about the opportunities we see [...]
Venture capitalists pour £25m into big data firm eCommera February 24, 2014 FAST growing retail technology company eCommera, which works with huge retailers like Asda and House of Fraser, has secured a further $41m (£25m) in funding from investors, it said yesterday. The company, based in London, said investors like Sir Martin Sorrell’s WPP had put more cash into the company alongside backers such as West Coast [...]
Steady start for CVC Credit as it eyes further growth in lending February 24, 2014 CVC CREDIT Partners, the credit firm linked to CVC Capital, yesterday reported inaugural results for its listed European fund showing a rise in net asset value (Nav) of investments for last year. The company, which floated on London’s stock market in June, said it made an absolute return on funds invested of 3.31 per cent for [...]
Visa swipes top spot for business brands from Apple February 24, 2014 BRITISH firms have chosen Visa as the best brand for business services, knocking tech firm Apple off the top spot, a poll out today reveals. Visa topped a survey of 2,000 companies and was joined by several other payment companies in the higher reaches of the Superbrands UK league table. Superbrands said the shift in [...]
Metro Bank: First London – next, the rest of the UK February 23, 2014 Metro Bank’s chairman and founder tells Tim Wallace he wants to take the Southern-focused lender out to a national audience IT HAS shaken up London’s retail banking scene, with bright new branches on busy high streets, and a bold American-style service ethos. But although Metro Bank startled the market as Britain’s first lender in more [...]
Shell offloads Italian retail unit to Kuwait February 20, 2014 FTSE 100 oil major Dutch Shell yesterday said it will sell its Italian retail, logistics and aviation businesses to Kuwait Petroleum International. Under the agreement, Shell’s retail network of over 830 service stations in the country will be rebranded to Q8. No value was disclosed for the deal, which is subject to regulatory approval and [...]
Any Other Business – 19/02 February 19, 2014 IT WAS flotation madness yesterday as we saw games whizz King, bargain retailer Poundland, and Danish business services firm ISS file for their IPOs. But there was a backstory to King and ISS’s flotations that raised a few smiles in the City. As we reported back in October, financial PR group Powerscourt lost its client King [...]
DEAL FRENZY: Pets At Home lines up to follow King, Poundland and ISS to market February 18, 2014 STOCK markets roared back into life yesterday after discount retailer Poundland, Candy Crush Saga producer King Digital Entertainment, and services firm ISS fired the starting gun on flotation plans, with UK pet store Pets at Home expected to follow suit as soon as today. UK retailer Poundland revealed plans to list in London in March, [...]
Bottom Line: London just needs to wait a bit for lift-off February 18, 2014 ON ONE level and after a superficial look at developments, it might seem as if London is in danger of missing out on the impending flood of new issues that are about to hit the financial markets. Yesterday’s flurry of statements revealed that ISS, the giant services group, is floating in Copenhagen; King.com has chosen [...]
Retail investors to be courted in biggest Nordic flotation in years February 18, 2014 ISS, the Danish outsourcing group, intends to attract retail investors to its stock market flotation in Copenhagen, the biggest Nordic flotation in 14 years. “There’s potential to have strong demand,” chief executive Jeff Gravenhorst said yesterday. “The percentage that goes to the retail investor will depend on their appetite.” ISS, which is part-owned by Sweden’s [...]