Electra on hook for up to £3m to defeat Ed Bramson raid October 6, 2014 Electra will face a bill of up to £3m after facing down corporate raider Ed Bramson’s bid to wrest control of the fund yesterday. Roger Yates, Electra chairman, said the long running battle would cost the group between £2m and £3m in banking and legal fees. “I don’t think the way in which [...]
Uber taxi app could face fresh crackdown under a Labour government September 23, 2014 Taxi app Uber could face a much more hostile regulatory and tax regime if a Labour government is elected in 2015. Speaking at a fringe event hosted by the New Statesman at the Labour conference, shadow transport secretary Mary Creagh said her party would not tolerate "tax avoidance on a large scale" adding that Uber's [...]
Chuka Umunna: More power for London and the regions – but not for me September 21, 2014 The shadow business secretary has been hailed as his party’s next big thing so many times the joke is starting to wear a little thin. Chuka Umunna scoffs at the suggestion that shadow chancellor Ed Balls could be shuffled out before the general election, making way for him to step up. “There will be no [...]
The elder statesman: Lord Young talks motorways and tear gas September 21, 2014 If the Conservatives win next year’s general election, Lord Young will be the oldest person to work in Number 10 ever, beating William Gladstone, who was Prime Minister until he was 83. “Margaret Thatcher asked me to go into Cabinet 30 years ago. Now David Cameron tells everybody that he and I are the only [...]
Saga dips toe into M&A waters with Destinology deal August 13, 2014 Saga, the over-50s specialist, yesterday made its first acquisition since floating earlier this year, buying a 75 per cent stake in online travel firm Destinology . The deal, believed to be worth £20m, comes in the wake of Saga’s listing on the London stock market in May. The purchase will be funded from existing [...]
Young people are turning to entrepreneurship – but the trend isn’t inevitable August 10, 2014 ENTREPRENEURSHIP is all the rage. Research released today by HSBC shows that nearly a quarter of young people starting university this autumn want to work for themselves when they graduate. Banker, lawyer and consultant are no longer the default options. This news won’t please everyone. Due to the conspicuous wealth of Silicon Valley’s have-yachts and [...]
Boris Johnson dismisses Uber as “excessively bumptious” August 5, 2014 London Mayor Boris Johnson has criticised the attitude of San-Fransico based firm Uber as "excessively bumptious." Johnson, speaking on LBC, added that he didn't like the way Uber were "moving into London and claiming they could take all this business away from black cabs." The company's rapid growth and penchant for innovation have clearly not conformed [...]
Verdict finally in sight after four months of Pistorius murder trial July 7, 2014 LAWYERS for Oscar Pistorius could close their case as soon as today, marking a significant step towards a verdict in the Paralympic star’s high-profile murder trial. South African Pistorius shot girlfriend Reeva Steenkamp dead on Valentine’s Day last year but says he did so only after mistaking her for an intruder. Defence lawyer Barry Roux [...]
How to handle being shown the door June 29, 2014 Whether you fight your corner or seek to reach a deal, it’s important to know your options. Here is a scenario: out of the blue, your newly-appointed boss gives you a “below expectations” rating at your mid-year appraisal. “Why the change from exceeds to below in the space of six months?” you cry. A pause [...]
FDM is valued at £300m June 17, 2014 FDM, an IT support services group, yesterday completed a flotation that valued the company at a touch over £300m. The deal, which was advised on solely by Investec, sees the private equity group Inflexion selling its entire shareholding to raise £234.7m. Rowena Murray, who was part of the Investec team on the deal, said the [...]