Making money in Tinseltown is easy: Just pick the right people July 28, 2013 Annabel Palmer talks Twilight with Nicola Horlick, the former City Superwoman who is trying her hand at Hollywood FORMER fund manager Nicola Horlick is in Santa Monica, California. The fabled City Superwoman – a moniker she despises – is working on her newest venture: Derby Street Films. It’s a film development business, currently made up [...]
Lendlease gets okay for Heygate revamp February 6, 2013 AUSTRALIAN developer Lendlease was yesterday granted detailed planning permission by Southwark council for the first phase of its £1.5bn regeneration of the Heygate estate in Elephant & Castle after winning approval for the masterplan last month. The scheme has caused an outcry from critics after it emerged on Tuesday that Heygate was sold to Lendlease [...]
Pound’s value slashed by two thirds over 30 years February 25, 2013 THE POUND has lost two thirds of its value since 1982, a study revealed this morning. Steady inflation over the past thirty years has seen the average price of a pint more than treble, from £0.73 to £3.18, gold more than quadruple in price, and the average house price go up five times, the analysis [...]
Ashley offloads a £100m stake in Sports Direct February 26, 2013 SHARES in Sports Direct fell six per cent yesterday after founder Mike Ashley sold £100m of his majority stake in the sports retailer, taking the market by surprise. Ashley sold 25m shares at 400p, a seven per cent discount to Monday’s closing price, in an accelerated bookbuilding run by Goldman Sachs. The book was two [...]
Dulux maker AkzoNobel says it plans to slash its costs quicker February 21, 2013 THE NEW chief executive of Dutch paints and chemicals group AkzoNobel said yesterday it plans to speed up cost-cutting and focus on improving returns and cash generation over the next three years. The firm, best known for its Dulux brand, is aiming for a return on sales of nine per cent, return on investment of [...]
Cinven gears up for £1bn float of annuity outfit February 17, 2013 CINVEN, the private equity business, is firming up plans for a £1bn float of its annuity business Partnership amid a renaissance in London’s capital markets. The mid-market buyout shop, which also owns PizzaExpress and ASK Italian restaurants, is understood to be pushing for an initial public offering (IPO) of Partnership in the second half of [...]
Carlyle to leave Chinese insurer on record high January 7, 2013 PRIVATE equity heavyweight The Carlyle Group is set to cash out its remaining stake in China’s third largest insurer China Pacific Insurance, reaping a record profit of around $4bn (£2.5bn) for investors. The group, based on the same avenue as the White House in Washington DC, has released a term sheet detailing plans to sell [...]
For large home owners it’s heads I win tails you lose December 20, 2012 DIRECTOR, DOUGLAS AND GORDON Q There was a lot to read in the autumn statement. I live in a big house and need to know if I have anything to worry about. A To find out if you are going to be liable for a new levy, you will have to look at your property [...]
SAV Credit buying bank from Virgin to enter savings market December 18, 2012 CREDIT card lender SAV Credit is buying Church House Trust from Virgin Money in the first half of 2013, the two firms announced yesterday. Virgin Money bought Church House Trust in January 2010 because it wanted a banking licence, avoiding the arduous process of applying for one from scratch. But because it bought much of [...]
WPP sells Madison Avenue office December 19, 2012 ■ After 86 years under one owner, ad giant WPP has sold 285 Madison Avenue building in New York for $189m (£116m). The property has housed WPP subsidiary Young & Rubicam (Y&R) since 1926. Y&R is one of the last advertising firms still on Madison Avenue, which typified the industry in the 20th century.