CBI factory figures to show rebound during strong April – London Report April 26, 2015 THE CONFEDERATION of British Industry (CBI) is expected to release relatively healthy factory activity data today. The CBI’s total orders balance is predicted to have rebounded in April, after dipping to a five-month low of zero per cent in March, as a result of a substantial drop in export orders. Separate manufacturing data from purchasing [...]
UK house prices: Is this the return of the first-time buyer? April 23, 2015 As UK house prices have risen, so has the story of the death of the first-time buyer. New data suggests this despair may have come too soon, however. A third of people feel better placed to move home than they did 12 months ago, despite wage growth lagging far behind house price inflation. The figures [...]
Veteran dealmaker Rupert Hume-Kendall calls time on City career at Bank of America Merrill Lynch April 22, 2015 One of London’s best-known investment bankers is bowing out after 18 years at Bank of America Merrill Lynch. Rupert Hume-Kendall, one of the best-known dealmakers in the City, is stepping down from his position as chairman of global corporate and investment banking for Europe, the Middle East and Africa at Bank of America Merrill Lynch. [...]
Former Quindell chairman Rob Terry gives his verdict on Slater & Gordon deal April 17, 2015 It's crunch time for the £673m deal between Quindell and Australian law firm Slater & Gordon. As the embattled insurance claims processor's shareholders prepare to vote on the disposal of its legal business to Slater & Gordon today, ex-chairman Rob Terry has indirectly given his verdict on the deal. More on this story: Quindell shareholders vote [...]
Ros Altmann: The savers’ champion talks pension reform, QE, and the pension annuities bombshell March 26, 2015 "I was gobsmacked.” Ros Altmann summarises her reaction to the Budget last year, when the chancellor first outlined his dramatic plans to bring pension freedoms to all. On the afternoon of that Budget day, Altmann, a pensions expert and campaigner, adviser to successive governments, and investment manager and economist, could barely contain her excitement when [...]
The AA to raise £935m for debt repayment plan March 25, 2015 The AA announced plans to raise £935m yesterday in a bid to pay off debts and reduce interest payments at the motoring organisation. The 110-year-old company plans to raise £200m in equity through a placing and a further £735m in a bond issue. The restructuring will involve the refinancing of £655m class B notes and [...]
Index Ventures backs Daniel Gandesha’s tech start-up Property Partner March 23, 2015 Index Ventures, the venture capital firm behind Just Eat and Candy Crush Saga-maker King Digital, has given £5.2m backing to a crowdfunding platform that allows retail investors to tap into the UK’s residential market. Property Partner, founded by the ex-head of startup investment at BSkyB Daniel Gandesha, gives smaller backers the chance to invest sums [...]
Saga moves to offload Allied Healthcare arm March 19, 2015 SAGA has appointed the investment bank Greenhill in a bid to speed up its attempt to sell off the public sector operations of Allied Healthcare. The move to offload the homecare and healthcare provider, first reported by Sky News, comes amid the increased prospect of local authority budget cuts. Saga, a leading travel and financial [...]
Jeremy Clarkson calls in lawyers over BBC chief’s Jimmy Savile comparison March 18, 2015 Jeremy Clarkson has called in lawyers after a senior BBC employee compared him to Jimmy Savile. The saga surrounding the controversial Top Gear presenter, currently on suspension for his involvement in a "fracas" with producer Oisin Tymon, looks set to rumble on as Clarkson responds to comments originally published in the Mail on Sunday. [...]
The echo-gnomics of Terry Pratchett – Editor’s Letter March 12, 2015 A flat earth. Beneath: a turtle ten thousand miles long. Above, wandering the surface of this world and mirror of worlds: zombie lawyers; a sinister clown running a bank where the chairman is a small dog; a tourist openly carrying a bag of gold, blissfully unaware of the prevailing exchange rate. The loss of Sir [...]