Get your popcorn: Cinema chain Vue International hails blockbuster first-half results July 19, 2016 Cinema chain Vue International has hailed record first-half results and seen its acquisition strategy pay off with the launch of a new Netherlands-based arm. The figures Turnover at the cinema chain grew 4.4 per cent to £381.8m in the 26 weeks to 26 May, up from £365.7m in the first half of 2015. Earnings before [...]
Meet the Pikes: The brothers who gave up corporate jobs and first-home deposits to launch SuperCarers September 26, 2016 For brothers Adam and Daniel Pike, business is about personal passion as well as profit. Two years ago, they launched SuperCarers, an online solution to placing carers for the elderly in the home. “Our grandma needed care. The quality wasn’t good enough and it was too expensive. So our mum ended up being the primary [...]
Storm Desmond alone caused £597m in insured damages, according to new estimates June 3, 2016 Never mind Eva and Frank – figures out today show that Storm Desmond alone cost the UK £597m in insured property losses. While that may sound like a large chunk of cash, this third estimate to be produced by PERILS is actually a reduction on the £662m it forecast back in March. This map, provided [...]
Rio Tinto launches $3bn bond buyback as commodities brighten June 7, 2016 Rio Tinto said today that it has launched a multi-billion bond buyback programme, as formerly tarnished metals price begin to shine one more. The firm intends to purchase up to $3bn of its 2018, 2020, 2021 and 2022 US dollar-denominated notes. It's trying to whittle down its debt pile, having bought $1.5bn of its 2017 and 2018 notes in April. Read [...]
Float or sink? These eight companies show how London’s IPO market is giving off mixed signals October 13, 2016 Is London’s flotation market faltering, or is there cause for optimism after an EU referendum hiatus on activity? There have been mixed signals coming from the City this week. Here are some of the big stories from the initial public offering (IPO) market currently: TI Fluid Systems: OFF The Bain Capital-owned auto supplier this morning confirmed it [...]
City Moves for 13 July 2016 | Who’s switching jobs July 13, 2016 Deloitte Deloitte has appointed Stephen Rees as a real estate senior advisor in its private client and family office group. Stephen will support family offices wishing to access UK commercial real estate, and provide a strategic and execution role as families continue to seek alternative investment opportunities in the UK. Stephen started his career at JLL, where [...]
Sterling dives as Mark Carney lays the groundwork for an interest rate cut June 30, 2016 The pound took a dive against the euro and the dollar this afternoon, after Bank of England governor Mark Carney laid the groundwork for an interest rate cut. The pound fell as much as one per cent against the euro, to €1.1941, and 1.1 per cent against the dollar, to $1.3280, before beginning to edge up. Meanwhile, the [...]
The public sector’s vast bank of unused land is a national disgrace August 22, 2016 So Brexit means that overseas demand for London property will decline, prices will fall and the housing crisis will ease, right? Think again. Whatever the effects of Brexit on London house prices, short or long term, the basic problem persists: the capital faces a chronic shortage of homes. Demand for all but the most expensive [...]
What Brexit means for UK M&A: Experts expect further drop in activity June 24, 2016 Deal activity in the UK is expected to fall further in the second half of 2016 following the Brexit vote. Mergers and acquisitions (M&A) activity has already slowed this year following a record 2015. Data released yesterday from MergerMarket and Dealogic showed that UK-targeted activity slowed in the first half of the year, and more [...]
World’s leading mining companies dig in for long road to recovery June 7, 2016 The world's leading mining companies are digging in for a long road to recovery after share prices in the sector and some commodities staged a rally yesterday. Oil pushed through the $50 mark, while copper, gold and zinc hit multi-week highs. London’s mining index jumped 6.5 per cent, with giants such as Glencore, BHP Billiton, [...]