Fat Face moves closer to stock market debut January 20, 2014 Clothes shop Fat Face is ratcheting up its plans to seek a listing on the London Stock Exchange, and has brought in a slew of bankers to advise on a possible flotation. Bridgepoint, the private equity group that owns Fat Face, hired financial advisory group Lazard in December to assess options. And after strong Christmas [...]
Vodafone and Sky in deal talks January 20, 2014 VODAFONE and Sky are holding high-level discussions on how the two companies could collaborate in order to curb BT’s growing reach in the broadband sector. The two firms have discussed options including a deal on Sky’s sports and movies channels or collaborating on a broadband service, people aware of the discussions told City AM. However [...]
Pickles backs garden cities as Legal & General offers funding January 20, 2014 ERIC Pickles said yesterday that the government is keen to see garden cities built around the green belt of London to try and ease the housing shortage. Pickles, the coalition’s communities secretary, denied all knowledge of a report that Nick Clegg claimed last week was produced in secret by the department of communities and local [...]
Tower furnished with high hopes January 16, 2014 West London has a new sky-scraper. Designer Paul Dawson discusses his inspirations LAST month, interior designer Paul Dawson looked out over south west London from a building he had been building in his mind’s eye for nine years. Dawson and his 12-strong team at Honky Interiors, which caters for private clients as well as major [...]
Inside Track: The EU’s rules to cap bankers’ bonuses aren’t working January 15, 2014 CREATE a loophole and bankers will leap through it quicker than you can say “deferred compensation”: that seems to be one of the axioms of the aftermath of the financial crisis. Examine the consequences of the European Commission’s cap on the multiple of salaries that banks can dish out in variable pay, though, and the [...]
Best of the Brokers for 15 January 2014 January 14, 2014 BSKYB UBS has hiked BSkyB from hold to buy with a target up from 880p to 1,100p due to a belief in Sky’s resilience despite increasing competition from the new BT Sport channel. UBS also said the firm could be a takeover target for Fox or a merger partner for Vodafone or Telefonica’s O2. DIAGEO [...]
London Report: Financials hold FTSE down yet Sky gives a lift January 14, 2014 BRITAIN’S top share index steadied near two-month highs yesterday, with a sell-off in financials offset by a crop of solid updates in the healthcare and retail sectors, while BSkyB shares jumped following a note from UBS. The broadcasting giant closed up 3.75 per cent after UBS analysts suggested various potential merger activities and said the [...]
Home Retail to pick Walden January 13, 2014 HOME Retail Group was last night poised to appoint Argos managing director John Walden as group chief executive. Walden, who runs the firm’s Argos business, could be announced this week as the new boss, according to Sky News. Terry Duddy said several months ago that he planned to quit. Home Retail Group declined to comment.
How the EU has used the environment as a protectionist weapon January 12, 2014 THE EU has long claimed a reputation as a promoter of free trade – for breaking down boundaries, and allowing capital and goods to flow across borders without hindrance. But protectionism hasn’t disappeared; it’s just taken on a more subtle form. The EU has been using the environment as a trade weapon. Late last year, [...]
RBS to cut jobs to reduce costs January 11, 2014 ROYAL Bank of Scotland is expected to announce job cuts next month as part of plans to reduce its cost base. Chief executive Ross McEwan, who took the helm last October, said he wanted to cut the group’s cost base, reducing its cost to income percentage target to the mid 50s from its current 65 [...]