Bottom Line: Suntory pays high price for global plans September 9, 2013 PUMPED up on sugary soft drinks, it didn’t take the Glaxo and Suntory execs long to seal a deal. Though everyone from AG Barr to private equity houses Blackstone to Permira was touted as a potential buyer, the Japanese group emerged as the front runner early on and stood its ground. Yesterday’s price – well [...]
What the other papers say this morning – 08 October 2013 October 7, 2013 FINANCIAL TIMES Hedge fund DE Shaw limits investors One of the most profitable hedge funds has closed its doors to new clients, calling time on the industry’s ability to square vast inflows of money with the promise of market-beating returns. DE Shaw’s move means that of the largest six, only Man Group and Och-Ziff, are [...]
US auto sales drag on sales growth August 13, 2013 US retail sales increased by a weaker-than-expected 0.2 per cent in July to $435.5bn, following an upwardly revised 0.6 per cent increase the month before and predictions of a 0.3 per cent rise. This was the fourth consecutive month of growth, and resulted in the dollar rising against other major currencies. Taper on? UST 10Y [...]
US steps back from the brink October 16, 2013 Last-minute Senate deal allows America’s debt to keep growing REPUBLICAN politicians last night closed in on a last minute deal with their Democratic counterparts to extend the US debt limit and end the ongoing government shutdown in the world’s largest economy. The agreement was reached just hours before the country was due to hit the maximum $16.7 [...]
Wall St The Week Ahead: Volatility likely as US debates strike on Syria September 8, 2013 US stocks could be in for a jolt of volatility this week as Congress debates whether to authorise a military strike against Syria and as the Federal Reserve’s pivotal decision on winding down stimulus nears. US equity markets have remained on a relatively even keel recently even as others such as US Treasuries and emerging [...]
Lloyds reprivatisation expected to raise over £3.2bn September 16, 2013 A statement from the government agency managing the state's stake in Lloyds has given the green light to the chancellor to begin reprivatising state-backed bank Lloyds. UK Financial Investments (UKFI) has given the nod shortly after the Office for Fair Trading said that TSB should be given more financial help by parent Lloyds. Our banking [...]
Letters to the editor – 15/13 – Building homes, Best of Twitter August 14, 2013 Building homes [Re: The French build three times more new homes than we do, yesterday] There are many interesting comparisons with France. Populations are similar, but France is growing slower – around 300,000 per year, so babies will soon get second homes. Total mortgages outstanding were €800bn (£683m), compared with £1, 265bn in the UK. [...]
Personalised car plates adding £2.3bn to the value of Britain August 15, 2013 THE OFFICE for National Statistics appears to be making the most of the summer lull. Yesterday’s data on the net worth of the UK included changes to the usual stats, among them the astonishing news that “personalised or cherished number plates for vehicles” represent a £2.3bn boost to the country’s price tag. Small [...]
Foxtons’ float to land bosses £100m windfall August 26, 2013 LONDON estate agency Foxtons is poised to make a move onto the London Stock Exchange that could land its senior management team a £100m windfall. The company, which was founded more than 30 years ago in Notting Hill, is expected to announce today its intention to pursue a public flotation that could value the business [...]
Taylor Wimpey order book hits record levels July 31, 2013 TAYLOR WIMPEY said “a much improved and healthier housing market” had helped it to deliver a 42 per cent jump in half year profits. The housebuilder yesterday revealed pre-tax profits of £109m on sales up 11 per cent to £1.01bn in the six months to 30 June. “There has been meaningful improvement in the housing [...]