Getco and Virtu launch bids for Knight Capital November 28, 2012 RIVALS Getco and Virtu Financial have launched bids for Knight Capital in a battle that would see either a merger or sale for the brokerage. While Getco has proposed a $1.4bn (£874m) merger, Virtu Financial has offered to buy Knight for at least $1.1bn. The main attraction for both trading firms is Knight’s US market-making [...]
Olympic chair joins National Express board November 27, 2012 THE HEAD of the Olympic Delivery Authority has been picked to chair transport group National Express. Sir John Armitt was yesterday unveiled as the rail and bus firm’s new chairman from 1 February, replacing John Devaney, who is leaving after four years to focus on other roles. The engineering stalwart has chaired the ODA since [...]
Knight CEO plays down deal talk November 25, 2012 Knight Capital Group, currently in talks with at least two firms on the possible sale of its largest business unit, is well capitalised and would only pursue a deal if it created value for its shareholders and clients, Knight’s chief executive Tom Joyce said in an internal memo. The electronic trading firm has been approached [...]
Dunstone eyes iconic burger chain franchise November 25, 2012 FIVE Guys Burgers and Fries, the cult US burger chain favoured by President Barack Obama, is set to branch out in London after Carphone Warehouse founder Sir Charles Dunstone moved to bring the famous restaurants across the Atlantic. Sir Charles, who founded Carphone Warehouse in 1986, is understood to have struck a deal through his [...]
Top StanChart exec joins WHSmith board November 22, 2012 TOP banking executive Annemarie Durbin has been drafted in at high street retailer WH Smith as a non-executive director. Durbin, currently group head of corporate governance, property, environment and security at Standard Chartered, will replace Mike Ellis who steps down in January. Durbin, who has been at Standard Chartered Group for 17 years and worked [...]
Wall St up on housing and high earnings November 19, 2012 US stocks bounced higher for a second consecutive session yesterday as investors were encouraged by the early atmosphere surrounding talks to tackle the nation’s fiscal crunch. The Dow Jones industrial average gained 207.65 points, or 1.65 per cent, at 12,795.96. The Standard & Poor’s 500 Index was up 27.01 points, or 1.99 per cent, at [...]
Take Forpady to land Paddy Power at 33/1 November 15, 2012 THE Paddy Power Gold Cup (2.35pm) is the first big handicap of the jumps season and there is no other place to start than with last year’s winning trainer, David Pipe. Great Endeavour won the prize for a record ninth time for Pond House 12 months ago, following father Martin’s eight successes between 1987 and [...]
Knight Frank says house prices may not return to peak till 2019 November 6, 2012 THE DOWNWARD correction to house prices gathered pace in October, according to data out yesterday, while one estate agent today predicted prices would not reach their pre-recession peak until 2019. The UK’s average house price slid 0.7 per cent into October, according to the Halifax house price index, meaning prices are some 1.7 per cent [...]
Knight and Barber join TfL November 6, 2012 FORMER banking advocate Angela Knight and outgoing TUC head Brendan Barber have been confirmed as new members of the Transport for London board. The pair will be joined by Brian Cooke, the former chairman of London TravelWatch and supporter of Boris Johnson. The Mayor said yesterday the trio will bring “considerable expertise” to the board when [...]
100 residential towers planned across London October 29, 2012 DEVELOPERS have tall ambitions for London’s skyline, with more than 100 residential towers being built or planned across the capital, new research shows. Soaring residential land values and a booming population has prompted a revival in high-rise towers, which lost their popularity after a backlash against the concrete block disasters of the 1960s. A report [...]