AA speeds up plans for a £4bn London float despite Saga flop June 5, 2014 BRITAIN’S biggest car insurer and roadside recovery firm, the AA, is reportedly set to push on with plans for float that will value the company at around £4bn. The listing will be part of a process known as an accelerated initial public offering by parent company Acromas, which could be announced today according to Sky [...]
Activist ups its stakes in bid to sue Lloyds Bank June 5, 2014 ACTIVIST investor Crystal Amber will reportedly up its stake in NBNK Investments, the vehicle which lost out during the auction of Lloyds Bank’s 630 branches in 2012, in a move to pursue legal action against the bank. NBNK has lined up law firm Stewarts Law to take legal action against Lloyds, which chose the Co-operative [...]
Inmarsat plans Wi-Fi in the sky across Europe June 5, 2014 SATELLITE operator Inmarsat aims to offer airline Wi-Fi in the skies across Europe by 2016 with its new broadband network. British Airways is in advanced talks to become Inmarsat’s first client on the in-flight internet service, initially on domestic routes. The price for passengers will be set by the airlines, Inmarsat said. Inmarsat has ordered [...]
Snow Sky withdrawal leaves 16 battling for Derby victory June 5, 2014 SIXTEEN runners are set to contest tomorrow’s Investec Derby after the Sir Michael Stoute-trained Snow Sky was withdrawn yesterday, on the eve of the Epsom meeting. Khalid Abdullah’s colt failed to recover from a minor knock to a joint. The Lingfield Derby Trial winner had been trading at 20-1, but was deemed “not 100 per [...]
Dorset Cereals sold for £50m June 4, 2014 ASSOCIATED British Foods (ABF), owner of high street retailer Primark, has reportedly secured a £50m deal to take over Dorset Cereals. Dorset Cereals is currently owned by Wellness Foods, which also owns Rowse Honey, and according to Sky News the bidding attracted interest from Kellogg and Weetabix. ABF made the deal through its Jordans & [...]
Inside Track: Tesco’s boss is out on a limb with a limp recovery plan June 4, 2014 PHILIP Clarke is beginning to sound like the corporate equivalent of Alastair Cook at the end of England’s disastrous Ashes defence. On yesterday’s conference call to discuss Tesco’s worst like-for-like sales performance in roughly 20 years, his insistence that his strategy is working sounded faintly ridiculous. “We are more competitive now than we have been [...]
Review: Jason Atherton’s City Social at Tower 42 | City A.M. June 4, 2014 I’ve eaten at altitude so many times recently I now have a permanent nosebleed. It’s all over my shirt and my shoes and my food and nobody cares, because the whole of London has the same problem. All anyone in this city does now is eat atop skyscrapers. Like one of Dr Pavlov’s dogs, I [...]
Review: Jason Atherton’s City Social at Tower 42 June 4, 2014 I’ve eaten at altitude so many times recently I now have a permanent nosebleed. It’s all over my shirt and my shoes and my food and nobody cares, because the whole of London has the same problem. All anyone in this city does now is eat atop skyscrapers. Like one of Dr Pavlov’s dogs, I [...]
Bottom Line: World Cup kicks off problems for air traffic June 2, 2014 WHEN the England football team jetted off to Miami at the weekend for a couple of pre-World Cup friendlies, they did so from Luton. They took a private plane of course – tourists can only get as far as Egypt or the Canaries from the north of London airport – but their departure will kick [...]
GSK on the hunt for suitor to buy drugs portfolio May 29, 2014 THE UK’S biggest drug maker Glaxosmithkline has raised the for sale sign on a number of its best known products, alerting a host of private equity suitors to the opportunity in a bid to secure a buyer. GSK, led by chief executive Sir Andrew Witty, has appointed Lazard to drum up interest in the sale, [...]