Car auctioneer float comes to a screeching halt October 21, 2014 BRITISH Car Auctions (BCA), owner of the webuyanycar.com, became the latest casualty of weak equity markets yesterday after it was forced to pull its impending stock listing. The private equity-owned group, backed by Clayton Dublier & Rice, blamed “volatility in global equity markets” for pulling down the listing, which aimed to raise £200m. “The board [...]
Energy companies face Ofgem investigation over Christmas power cuts March 6, 2014 Ofgem is set to investigate energy companies UK Power Networks (UKPN) and SSE over their response to the storms that wreaked havoc across the UK over the Christmas period. The two electricity distribution network operators were found to have been the slowest in responding to customers and in reconnecting their electricity supply. The energy regulator [...]
Amazon extends Sunday delivery to six more cities January 20, 2014 AMAZON will extend the Sunday delivery service that it trialled in London during December to six additional cities around the UK. Customers in Birmingham, Milton Keynes, Oxford, Nottingham, Manchester and Leeds will now be able to order items for delivery on any day of the week as part of Amazon’s Sunday delivery service. Sunday deliveries [...]
Angela Merkel suffers skiing injury January 6, 2014 GERMAN Chancellor Angela Merkel fractured her pelvis while cross-country skiing during the Christmas period, and will be cutting back on her duties while she recovers, according to an official announcement yesterday. Merkel will be working from home when possible over the next three weeks, and has cancelled a visit to Warsaw tomorrow.
Morrisons shares leap as banks step up to finance buyout February 19, 2014 SHARES in Morrisons surged almost five per cent yesterday amid rumours that banks are working on a £5bn financing deal to support a private equity buyout of the struggling grocery chain. The Morrison family, which owns a 9.5 per cent stake, has approached several private equity firms including Carlyle Group and CVC Capital with the [...]
Ebola screening at UK airports: How will the spread be contained and who will be tested? October 14, 2014 New Ebola screening measures were introduced at Heathrow airport terminal one this morning, as the government boosts measures to prevent the deadly virus from entering the UK. Those arriving from Guinea, Liberia and Sierra Leone – the three countries suffering most from the current outbreak in West Africa – will be subject to the [...]
Here’s why this analyst thinks Royal Mail shares could go higher still January 13, 2014 Royal Mail's announcement of a management team reshuffle has already been met with glee by one analyst. Robin Speakman of Shore Capital says that the changes "reflect transformation progress", and Speakman is convinced that the delivery company still has "strong potential … for profitable growth and development". Shore Capital are maintaing a "buy" rating on [...]
Insurers count the cost of recent floods as bill tops £400 million January 28, 2014 THE INSURANCE industry looks set to pay out millions of pounds worth of claims after the country was hit by bad weather and flooding over the Christmas period. Figures released by the Association of British Insurers (ABI) put the estimated insured cost of the damage at £426m. The figure is the result of 174,000 claims between [...]
Pressure on Wm Morrison rises on buyout talks February 12, 2014 SIR KEN Morrison said yesterday that he had no knowledge of any talks between his family’s trusts and private equity firms to take Morrisons private. According to a Bloomberg report yesterday, the Morrison family has approached several private equity firms including Apax, Carlyle Group and CVC Capital with the view of taking Britain’s fourth largest [...]
Good Christmas for New Look January 8, 2014 FASHION retailer New Look saw a 1.5 per cent increase in like-for-like sales over the Christmas period, a spokesperson confirmed yesterday. The UK’s second-largest women’s value store did not discount its products heavily, unlike its rivals, and still managed modest growth in the last seven weeks of last year. Despite the positive news, New Look [...]