Burberry boss plots growth for London April 17, 2011 LUXURY retailer Burberry plans to expand “aggressively” in London, in a bid to improve on what are set to be strong half-year trading figures out tomorrow. Burberry, expected to report on-track underlying sales knocked slightly by a fall in revenues from disaster-hit Japan, is set to ramp up its existing growth plans for London in [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 14, 2011 FINANCIAL TIMES BOSCH WARNS JAPAN CRISIS WILL SLOW GLOBAL GROWTH The impact of last month’s Japanese earthquake will cut global economic growth by a quarter of a percentage point and could put a big dent in planed increase in car production this year, the head of the world’s largest car parts supplier warned. Franz Fehrenbach, [...]
Euroset float cancelled as buyers dither April 14, 2011 THE already shaky climate in the London new issues market worsened yesterday as the Russian mobile phone retailer Euroset pulled its £800m issue. While the deal was overshadowed by Glencore’s announcement, Euroset’s flotation is the latest smaller planned initial public offering (IPO) to have been dogged by uncertainty because of nervousness in the markets. Investors [...]
FTSE falls with investors still cautious ahead of US results April 14, 2011 BRITAIN’S top share index fell yesterday, led by Reckitt Benckiser after the company said its chief executive was retiring, and with banks weaker on renewed worries about sovereign debt levels. The FTSE 100 fell 46.64 points, or 0.8 per cent, to 5,963.80, its lowest close since 31 March. The index is up 1.1 per cent [...]
Euroset confirms pulling its £800m IPO April 14, 2011 The already shaky climate in the UK’s new issues market worsened today as Russian mobile phone retailer Euroset pulled its £800m issue. The flotation has been dogged by uncertainty because of nervousness in the markets, with investors increasingly unwilling to pay up for what they deem to be overvalued stock. City A.M. broke the news [...]
Euroset float hits a bout of nervousness April 13, 2011 NERVOUSNESS in London’s IPO market spread yesterday as it emerged that the Russian mobile phone retailer Euroset was considering scaling back its flotation plans. The group originally aimed to raise up to $1.3bn (£799m) from investors through a combination of new shares and stock sold principally by Russian billionaire Alexander Mamut, who owns 50.1 per [...]
Real estate market picks up April 13, 2011 Property investors are looking to riskier markets such as Spain and emerging Europe, and shunning safer prime European commercial real estate, pushing up investment volumes and prices, research by CB Richard Ellis has shown. Direct investment in prime European commercial property hit €26.7bn in the first-quarter, up 26 per cent on the year. In the [...]
London must fight hard to keep headquarters April 13, 2011 HAVE you ever played Whac A Mole? A menacing, flinty eyed mole pops up out of his hole, and no sooner have you whacked him down than another menacing mole pops out of another hole. However hard you whack, that menace remains. It is the same for those who defend London as a global financial [...]
CITY MOVES | WHO’S SWITCHING JOBS April 13, 2011 PricewaterhouseCoopers Amit Aggarwal has been appointed to lead the retail M&A team at PwC’s corporate finance business. Aggarwal brings more than 15 years’ experience in M&A and private equity to the role, having previously held senior positions at JP Morgan and Baugur. Aggarwal moves from the position of partner at Retail Partners, the retail-focused advisory [...]
Helicopter company is latest Russian to seek London float April 12, 2011 STATE controlled JSC Russian Helicopters yesterday confirmed its intention to raise $500m (£308m) in a joint flotation in London and Moscow. The offering is expected to consist of the sale of existing shares, primarily by the firm’s major shareholder Oboronprom, as well as up to $250m of primary shares in the form of Global Depository [...]