Inside Track: Foxtons nears a crucial decision on its upcoming float September 5, 2013 THE FORTHCOMING flotation of Foxtons, the ultra entrepreneurial London-focused estate agency, is to move a step closer this weekend with the setting of a price range for the new shares that will shortly be coming onto the stock market if all goes well. Management’s investor roadshow begins properly on Monday and will take in London, [...]
Canopius premiums soar in first half September 5, 2013 Lloyd’s of London insurer Canopius yesterday announced a substantial rise in premiums after its takeover of Omega pushed it to a record set of interim results. Post-tax profits grew by £10m to £42m for the first six months of 2013, while gross written premiums – equivalent to revenue – hit £527m.
All taxpayers should have a chance to benefit from the Lloyds privatisation September 17, 2013 THE SUCCESSFUL sale of 6 per cent of Lloyds to institutional shareholders was a crucial first step in returning the bank to full private ownership. That the government has been able to obtain a price above the initial purchase price – and well above the price in the national accounts – is particularly positive. Indeed, [...]
City Matters: Stable and predictable regulation is key to safeguarding the future of finance October 6, 2013 PARTY conference season has typically been a testing period for the City of London – and in particular for the banking industry – over the last few years. Thankfully, however, this year saw the focus shift at least partially away from bankers, as the spotlight turned towards other sectors that are currently public (and political) [...]
Consumer sentiment climbs on back of housing market boost September 22, 2013 CONFIDENCE in the economy is still rising among consumers, with a survey released today showing the strongest sentiment since it began three years ago. Lloyds’ consumer sentiment index has risen by 10 points since the start of the year, rising from 105 to 115, fuelled by an increase in housing market activity. Overall, 18 per [...]
David Lloyd sold to private equity fund September 5, 2013 HEALTH and fitness club David Lloyd Leisure (DLL) yesterday outlined an ambitious £50m expansion plan after being sold to UK private equity firm TDR Capital for just under £750m. The business, founded by former tennis ace David Lloyd over 30 years ago, said it has over 20 new centres in the pipeline across the country [...]
It’s a tough job but someone has got to do it December 1, 2013 The new boss of recruiter SThree tells Marion Dakers how his diverse business is navigating through the economic recovery AS THE festive party season rolls around again, staff at SThree will be looking forward to the office get-together more than most. Over the last few years, the white-collar recruiter has used its annual bash in [...]
What the other papers say this morning – 04 November 2013 November 4, 2013 FINANCIAL TIMES Aircraft carrier cost to rise to £6.2bn Britain will this week reveal another substantial increase in the cost of building its two new aircraft carriers, declaring that total funding for the programme will rise by another £800m to £6.2bn.Philip Hammond, defence secretary, is expected to say that a new set of demands – [...]
Inside Track: Tesco executives ponder a spin-off for Asian business September 11, 2013 IT’S hardly on the scale of Royal Bank of Scotland, but Tesco’s retrenchment from the empire-building of Sir Terry Leahy means it will soon struggle to describe itself using the adjective “global”. Fresh from its exit from Japan, a retreat into a joint venture in China and this week’s announcement of the part-sale, part-closure of [...]
Barack Obama should make Donald Kohn the next Fed chief September 16, 2013 IT WAS pretty sickening, to say the least, to see so many investors cheer the prospect of even easier US monetary policy yesterday. The news that Larry Summers was pulling out of the race to be the next Fed chairman led to a boomlet across a slew of asset classes, bolstering emerging markets in particular. [...]