Private equity firm puts online travel agency up for £100m sale November 4, 2012 ON THE Beach, the online travel business that specialises in holidays by the sea, has been put up for sale by its owners for £100m. Private equity group Isis is close to hiring DC Advisory, the corporate finance advisory firm, to search for a new investor, The Sunday Times reported. Analysts have said the website [...]
Retail bump fails to curb a fall on Wall St November 13, 2012 US stocks sold off late in the session yesterday, led by a slide in Microsoft shares, though retailers were a notable bright spot after Home Depot raised its outlook. Microsoft was the most actively traded on Nasdaq, weighing on the tech-heavy Nasdaq Composite after the surprising departure of a key executive. The stock fell 3.2 [...]
What the other papers say this morning December 20, 2012 FINANCIAL TIMES Trafigura earns $1bn twice in a row Trafigura, the commodities trader, earned about $1bn for the second year running in 2012, indicating that the profitability of the world’s top houses that dominate raw materials has remained high in spite of slower economic growth in China. The privately held company, based in Geneva and [...]
Will a merger between Penguin and Random House better place the firm to tackle Amazon? October 29, 2012 YES Lizzie Carr The merger of Penguin and Random House is ultimately about the survival of the fittest. Publishing is going through revolutionary changes, and this merger shows just how much some brands will need to adapt to survive in today’s marketplace. Given the size of the two companies, there are some obvious cost-savings the [...]
Will a merger between Penguin and Random House better place the firm to tackle Amazon? October 29, 2012 YES Lizzie Carr The merger of Penguin and Random House is ultimately about the survival of the fittest. Publishing is going through revolutionary changes, and this merger shows just how much some brands will need to adapt to survive in today’s marketplace. Given the size of the two companies, there are some obvious cost-savings the [...]
CVC Capital to lose chairman after 30 years October 29, 2012 CVC CAPITAL Partners veteran Michael Smith will step down as chairman in January 2013 and hand the reins to a trio of dealmakers whose first job will be to raise €10bn (£8.06bn) from investors. Smith, who has spent 30 years at CVC from its origins as Citicorp Venture Capital – a subsidiary of Citigroup – [...]
Moonpig signs off year with jump in profits November 25, 2012 MOONPIG.COM, the online greetings card company, reported a 20 per cent rise in sales last year driven by growth at both its core and personalised card divisions. The internet retailer, founded 12 years ago by ex-commodities trader Nick Jenkins, said sales rose £7m to £45.8m in the year to 30 April. Profits jumped 10 per [...]
Buoyant central London is in an economic world of its own December 10, 2012 IF you work or live in central London, you could be forgiven for not believing that the UK remains stuck in a nasty stagnation, let alone at risk of a triple-dip recession, as Vince Cable intimated yesterday. The shops are full, the tubes jam-packed and new skyscrapers are being built; Fortnum and Mason, the department [...]
Barclays faces first Libor damages trial as UK judge sets key precedent October 29, 2012 BARCLAYS will face a full trial over Guardian Care Homes’ (GCH) claims that the bank mis-sold it an interest rate swap product, in a landmark legal case which will determine which other firms can claim banks mistreated them. As part of the trial Barclays will have to send GCH 1.2m emails logged in its Libor [...]
Knight Frank says best London property thriving despite dip September 23, 2012 PRIME property in central London hit a new record high in September, according to estate agent Knight Frank, as it continued its robust recovery from the post-financial crisis slump. Prices grew 10 per cent in the last 12 months, the firm said today, pushing the index to a point some 51 per cent higher than [...]