MoneySuperMarket invites customers to crush a car in latest stunt October 7, 2014 As far as publicity stunts go, MoneySuperMarket is getting a raft of attention at the moment with its Epic Car Insurance Car Crusher. The price comparison site is offering customers a chance to crush a real car with a giant metallic claw. The gigantic 6,000kg robotic hand crusher is available for 48 hours, until 9pm [...]
Glencore rules itself out of Rio Tinto bid for six months October 7, 2014 Glencore has distanced itself from a merger with rival miner Rio Tinto – forgoing the opportunity to make a formal bid for the next six months as a result. Last night Rio Tinto revealed it had firmly rejected an approach from the smaller firm, which would have created a £100bn giant, leapfrogging BHP Billiton [...]
Rio Tinto share price rockets following Glencore rejection October 7, 2014 Rio Tinto's share price peaked at £31.46 today, up by more than six per cent from yesterday. The rise followed news that Glencore was discussing a possible merger between the two mining companies with Rio Tinto's largest shareholder, the Chinese state-backed Aluminium Corp. Earlier, Rio Tinto had released a statement confirming that “no [...]
Rio Tinto rejects Glencore’s £60bn mega-merger bid October 6, 2014 Merger would create world’s biggest mining group Giant mining group Rio Tinto last night revealed it had firmly rejected an approach from Glencore, in the opening salvo of a new mega-merger bid in the sector. The estimated £60bn offer would have created a £100bn titan by market capitalisation, with the combined group leapfrogging BHP Billiton [...]
Activist investor Ed Bramson loses Electra battle October 6, 2014 Activist investor Edward Bramson yesterday lost his battle to wrest control of private equity trust Electra after a crunch shareholder meeting. More than 60 per cent of investors voted against Bramson’s proposal to put himself on the company’s board. It still leaves Bramson with a stake of around 20 per cent in the group.
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 [...]
Balfour Beatty may shut Blackpool International Airport October 6, 2014 Balfour Beatty may be forced to shut Blackpool International Airport if it cannot find a buyer for the asset. The construction firm has been seeking a buyer for the airport since August, and the deadline for its decision is today. Andrew Gibbs, analyst at Investec, told City A.M.: “Blackpool has always been an issue, it’s always [...]
Iron miner BHP cuts costs as it builds capacity October 6, 2014 MINING company BHP Billiton is aiming to cut costs while increasing capacity at its Western Australia Iron Ore (WAIO) operation, the group announced yesterday. BHP iron ore president Jimmy Wilson told investors at a tour of the WAIO site that the firm planned to cut unit costs by “at least 25 per cent” to $20 [...]
BSkyB gains shareholder approval for Sky Deutschland and Sky Italia acquisition October 6, 2014 BSkyB shareholders have given an overwhelming nod of approval to its £5.3bn bid to buy Sky Deutschland and Sky Italia. A 96 per cent majority of investors voted in favour of the deal which will see Sky become Europe’s largest pay TV operator. The vote included approval of transferring BSkyB's stake in National Geographic to 21st [...]
Jimmy Choo IPO ‘to value shoe label at £700m’ October 6, 2014 Luxury shoe company Jimmy Choo could land on the London Stock Exchange with a top valuation of £700m – less than originally expected, according to reports. The high end label, a favourite of Sex and The City star Sarah Jessica Parker, is looking to issue a quarter of its share equity with an initial [...]