BP’s fall takes fuel out of oil stocks but FTSE rises higher February 2, 2010 Britain’s top shares closed higher for the third straight session yesterday as miners and banks extended the previous day’s gains but BP dragged energy stocks lower with fourth-quarter results that missed expectations. The FTSE 100 was up 35.90 points, or 0.7 per cent at 5,283.31, after closing 1.1 per cent higher on Monday. Miners added [...]
THE TIPSTER November 30, 2009 PUB company Mitchells & Butlers posted a solid set of full-year results last week, which has been followed by potential mergers and acquisitions (M&A) activity as a group of major shareholders attempt to wrest control of the board. It is still early days, but with last week’s results underpinning the share price, it is clear [...]
M&B opens door to rebel appointments December 17, 2009 PUB and restaurant operator Mitchells & Butlers has invited the four candidates put forward to join its board by rebel shareholder Joe Lewis to meet with headhunters and its nomination committee. The operator of All Bar One and Harvester yesterday said the meetings would enable it to formulate its recommendations as to how shareholders should [...]
Heineken takes on debt from Globe Pub division May 28, 2009 DANISH brewer Heineken said yesterday it has acquired discount debt from its UK pub management firm, Globe Pub Company, in a bid to reduce its own debts. The beer-maker acquired a further 55.6 per cent of class A1 notes, representing a face value of £111.2m, issued by Globe, meaning it now owns 85.7 per cent [...]
THE TIPSTER DUBAI FEARS ARE BATTERING BRITISH BANKS November 29, 2009 THE shock announcement that Dubai World was unable to meet its debt obligations last week put intense pressure on stocks and currencies worldwide. Investors were concerned that British banks might have significant exposure to Dubai and the UK financial institutions got a battering. But with the uptrend of the latest bull run still intact, the [...]
An oath can’t make lawyers more honest January 25, 2010 BIG changes are afoot in the legal world, not least those arising from the reforms which the profession is going to see under the Legal Services Act. This will include the introduction of so-called Tesco Law, which will see non-lawyers increasingly involved in the provision of legal services. In the face of this brave new [...]
M&B rebel fights corner as row grows December 6, 2009 THE largest shareholder in pubs group Mitchells & Butlers will meet with the Takeover Panel today as the furore grows over the company’s decision to oust four directors. Piedmont, which owns 23 per cent of M&B on behalf of billionaire Joe Lewis, wants to put its side of the story after its representatives Richard McGuire [...]
ITV’s Norman blocked from M&B by Lewis November 29, 2009 JOE LEWIS, the Tottenham Hotspur owner and billionaire currency trader, has blocked Archie Norman from being appointed as Mitchell & Butlers chairman. Norman, who hit the headlines earlier this month when he was nominated as ITV’s new chairman, had been in talks to head up the £1bn pub group, which owns the All Bar One [...]
CITY A.M. CELEBRATES A BIRTHDAY IN STYLE October 25, 2009 The Capitalist has been a regular guest at City parties over the past year, but it’s fair to say that none instilled a sense of pride quite like entering The Lamb pub in Leadenhall Market on Friday lunchtime. Friends, colleagues and supporters of City A.M. gathered at the pub – itself a beacon of Square [...]
BEST OF THE BROKERS November 19, 2009 HUNTSWORTHKBC Peel upgraded Huntsworth to “buy,” after the firm said the economy in which it is trading is significantly better than at the turn of the year. The broker maintained its numbers, with a target price of 75p. While Huntsworth’s rebranding process well underway, the broker notes increased confidence in existing forecasts. DIMENSION DATAAltium Securities [...]