Astrazeneca’s £15bn gamble May 19, 2014 THE DEAL IS OFF. SHAREHOLDERS ARE HURTING. NOW THE UK DRUG GIANT MUST PROVE THAT IT CAN DELIVER ON ITS PROMISES – AND FAST UK DRUG giant Astrazeneca yesterday shut the door on Pfizer’s audacious £69bn takeover bid, splitting shareholders and piling pressure on bosses to live up to ambitious promises they have made on [...]
HgCapital sells off German toy manufacturer Schleich to Ardian May 19, 2014 GERMAN toy maker Schleich, known for its lifelike figurines, has been bought by French private equity firm Ardian from its British owner HgCapital, the two private equity companies said yesterday. Neither side disclosed the price of the transaction, which the Frankfurter Allgemeine Zeitung yesterday reported was €220m (£179m), citing unnamed sources in the finance industry. [...]
Britain’s supposedly open economy can’t afford this Pfizer political inquisition May 13, 2014 THERE was something quite uncomfortable about watching MPs do their best to trip up the boss of a major multinational that has expressed an interest in investing in the UK economy. At yesterday’s Business Committee hearing into his firm’s proposed bid for Astrazeneca, Pfizer chief executive Ian Read was treated no differently to Rupert Murdoch during [...]
April heat can’t stop the City’s marathon stars April 14, 2014 THE SUN was cracking the flags yesterday as an estimated 36,000 people took part in the London Marathon. As ever, the City certainly didn’t disappoint, with hundreds of financial professionals pulling on the Lycra and taking part. Barclays alone had an estimated 150 runners racing, while private equity firm LDC had 14 people running for [...]
Ex-Axa buyout unit raises cash April 3, 2014 ARDIAN, the private equity unit spun out of investment giant AXA, has raised €500m (£413m) to invest in small businesses across Europe. The fundraising comprises €450m through a traditional buyout fund – the third fund raised through its Expansion brand – and a €50m pot from investors for direct co-investments. It follows on from Expansion [...]
City Moves for 04 April 2014 | Who’s switching jobs April 3, 2014 Brewin Dolphin The wealth management firm has announced the appointment of Guy Foster as head of research. He joined in 2006 as an analyst from Hill Martin Asset Management, where he was an investment director and portfolio manager. Axa Investment Managers The investment management business has appointed Robert Price as a solutions strategist in its [...]
Sports Direct shareholders revolt over Ashley’s £70m bonus scheme April 2, 2014 SPORTS Direct shareholders have rejected plans to introduce a bonus scheme that would have awarded founder Mike Ashley a £70m windfall, after revolting over a similar scheme two years ago. The retail giant said yesterday that it has cancelled a general meeting that was due to take place tomorrow after the board realised there was [...]
Isa allowance hiked to £15,000 March 19, 2014 SAVERS can stash 30 per cent more cash in tax free savings accounts every year after chancellor George Osborne ripped up the rule book on individual saving accounts (Isas) yesterday. The Isa allowance, currently set at £11,520 for the current tax year, will jump to £15,000 on 1 July, the biggest allowance hike since Isas [...]
Any Other Business – 18/03 March 18, 2014 Forget the huge salaries and enormous bonuses – it seems one of the banking giants’ biggest perks may be the boardroom banquet. While many of us mere mortals are nipping out for a sandwich, a new wave of the UK’s finest chefs are apparently honing their skills to feed the upper echelons of finance. Proof [...]
City Moves for 17 March 2014 | Who’s switching jobs March 17, 2014 Chelverton Asset Management The asset management firm has appointed Richard Bucknell as an investment director in its unquoted equities team. Prior to joining, Bucknell held senior investment management positions at Barclays Ventures. Insparo Asset Management The Africa and Middle East specialist investment firm has hired Peter Lindqvist as head of sales and marketing. Lindqvist was [...]