City Moves for 18 July 2014 | Who’s switching jobs July 17, 2014 Keystone Law International corporate lawyer Francesca Lee is joining the law firm. She has previously held senior legal roles with Shell Hong Kong and General Electric Capital Corporation. Lee is particularly experienced in cross-border and international mergers, sales, acquisitions and joint ventures. Latham & Watkins London partner Bill Voge has been elected global chair and [...]
Heron Tower won’t become Salesforce Tower – at least not yet July 17, 2014 The City of London has decided to delay a controversial vote over whether to grant the Heron Tower permission to rename itself after its biggest tenant Salesforce, in a new twist to the saga. The City's planning and transportation committee said that the decision would be reviewed at a special meeting in August after members [...]
Rupert Murdoch empire split becomes a blessing for 21st Century Fox takeover bid July 16, 2014 Exactly three years ago this weekend, Rupert Murdoch was sat plonked in front of a group of disapproving MPs. The occasion was supposed to mark a profound chastening for the media mogul, who faced an intense grilling over the hacking scandal that sensationally brought down the News of the World. Murdoch played along, putting on [...]
City MP Mark Field slams new tax grab July 8, 2014 George Osborne’s plan to grab millions of pounds of tax back from a host of high-profile City names was criticised yesterday as concerns grew over the impact of tough new tax rules. Mark Field, Conservative MP for the City of London, said: “To take a retroactive approach to schemes that have already been approved seems [...]
Investors demand FCA probe into share float advisers after serial IPO failures July 7, 2014 Shareholders want the City watchdog to investigate claims advisers on stock market flotations have put unfair pressure on equities analysts to hike the price put on shares. City A.M. last month revealed tensions between banks and independent adviser STJ over behaviour ahead of the Saga flotation. In the wake of a series [...]
Banks in firing line after Saga analysts give low price targets July 3, 2014 SAGA shareholders were left scratching their heads yesterday after the bank that helped sell shares to them at 185p six weeks ago said they were worth 177p. UBS, which was one of several banks that brought the group to market, started covering the stock with a 177p price tag, more than three per cent below [...]
Don’t give up on the Union: Scots should vote with their heads, not their hearts July 3, 2014 SEVEN hundred years ago, the Scots won a glorious victory at Bannockburn. The Yes campaign says we should seize this September’s referendum to be that nation again! My heart hears the call: I am Scots first and foremost. But my head says no. Why give up on a Union that has immeasurably improved the prosperity [...]
Urban Exposure IPO: Property lender to raise £500m in market float July 2, 2014 A residential property lender yesterday announced plans for a £500m stock market float as it seeks to tap into demand for new homes in London and the south east. Urban Exposure was founded as a property developer in 2002 by former Deutsche Bank risk analyst Randeesh Sandhu, but started providing short-term loans to other [...]
Exclusive: Shelf Drilling pulls $500m float plan after investors get cold feet July 1, 2014 Oil-rig contractor Shelf Drilling is to pull its plan to float on the London Stock Exchange today, citing insufficient interest to justify proceeding with the sale. Sources close to the deal yesterday told City A.M. the decision was made late last night to cancel the initial public offering, which was set to raise at least [...]
Shelf Drilling pulls $500m IPO plan after investors get cold feet July 1, 2014 Oil-rig contractor Shelf Drilling is to pull its plan to float on the London Stock Exchange, citing insufficient interest to justify proceeding with the sale. Sources close to the deal told City AM that the decision was made late Tuesday to cancel the initial public offering, which was set to raise at least $500m (£297m), despite some [...]