Reputation of Kingfisher boss Veronique Laury tarnished after collapse of Mr Bricolage deal March 30, 2015 Europe's biggest DIY group Kingfisher said yesterday that its €275m (£201m) bid for smaller French rival Mr Bricolage had collapsed after facing opposition from one the French rival’s major shareholders. Kingfisher first entered exclusive talks in April last year to buy 26.2 per cent of the share capital from the Tabur Family and 41.9 per [...]
Day of reckoning for besieged FIFA May 27, 2015 ▪ Seven officials arrested as criminal proceedings brought ▪ The presidential election will take place as planned WORLD governing body Fifa was in unprecedented turmoil last night after a day of drama and intrigue saw seven serving officials of the scandal-ridden organisation arrested in Switzerland on corruption charges. Dawn raids of the five-star Baur au [...]
GlaxoSmithKline gives shareholders £4bn windfall after Novartis deal March 2, 2015 GlaxoSmithKline (GSK) is delivering a £4bn windfall to shareholders following the conclusion of a three-way deal with Novartis. The deal comes in the wake of a dreadful 2014 for the British drugmaker in which turnover fell by 10 per cent and profits slumped 15 per cent after declining sales in the US and a bribery [...]
Is economic growth stimulated by tech platforms? Amazon’s UK boss believes so March 24, 2015 Thirty years after the first dot com website was registered, one of the most exciting developments in the internet revolution is the way technology platforms are enabling entrepreneurs of every type and size. Technology platforms are all around us. Retail platforms like Amazon Marketplace, eBay and Not on the High Street enable brands and sellers [...]
Dealmakers thrive in City’s flotation frenzy September 14, 2014 DEALMAKER of the year Although there has been a dearth of mergers and acquisitions so far this year, there has been a rash of initial public offerings (IPOs) for our dealmakers to get their teeth into. There has been some exciting deals for bankers to get a buzz from. Verizon Wireless’ $130bn deal to take [...]
B&B Investment Partners flexes muscles with PhD Nutrition deal November 16, 2014 London-based investment fund B&B Investment Partners yesterday announced the acquisition of PhD Nutrition, a leading producer of protein powder and nutrition bars. The deal is worth approximately £20m, a source close the negotiations told City A.M.. PhD has become a recognised brand in the fast-growing sports nutrition market since it was co-founded by Jason Rickaby [...]
Afren share price falls 16 per cent after S&P downgrade on possible default February 5, 2015 Embattled oil producer Afren's share price closed down 13 per cent today, after major credit ratings agency Standard & Poor's (S&P) warned of a possible default. Afren's share price had fallen as much as 15.8 per cent to 9.35 per pence share in mid-morning trade. However, it was still above this year's low of 4.2 pence [...]
CBI under fire from Business for Britain as competition comes to lobby groups January 5, 2015 The Confederation of British Industry is a champion of competition. It wants more competition in banking, for instance and pushed for robust powers for the new Competition and Markets Authority. But suddenly competition in the CBI’s own sector – business lobbying – has got tough. In a scene reminiscent of that seen in sectors like [...]
Lancaster challenges demoted Farrell to bounce back November 27, 2014 ENGLAND head coach Stuart Lancaster expects Owen Farrell to secure a future recall despite dropping the Saracens star in favour of Billy Twelvetrees for the final autumn fixture against Australia at Twickenham tomorrow. Farrell has been an ever-present for England since the summer tour of South Africa in 2012 but Twelvetrees has received the nod [...]
More London bus strikes scheduled over driver pay disparity – here are the companies taking part and routes affected February 3, 2015 More bus strikes are scheduled to take place over the next fortnight, as unions fight against pay discrepancies across operators. The first is scheduled for February 5 and will run from around 4am Thursday morning until early Friday morning. Buses should operate as normal on Friday by the morning rush hour. A second 24 hour [...]