LDC close to Antler acquisition May 9, 2010 Lloyds Development Capital (LDC) , the private equity arm of the Lloyds Banking Group, is on the cusp of snapping up long-established luggage firm Antler after a lengthy auction process for the business. Antler has been owned by Barclays Private Equity since 2004 and has been on the market since last September. Turnaround specialists Endless [...]
Mouchel calls in Deloitte as austerity bites December 2, 2010 MOUCHEL yesterday confirmed Deloitte has been drafted in to examine how far the firm’s future income could drop, sparking fears it could follow Connaught and Rok into administration. The engineering consulting and design group has been rocked by swingeing cuts in government spending, resulting in the haemorrhaging of contract income. Deloitte was called in by [...]
London & Stamford snaps up property from Lloyds May 10, 2010 LONDON & Stamford Properties has bought 16 distribution properties from a Warner Estate and Lloyds Banking Group joint venture for £208.5m. The Aim-listed property investor, formed in late 2007 to exploit steep discounts carved out during Britain’s recent property slump, bought the portfolio using a combination of existing cash resources and debt provided by the [...]
Shadow MPC doves reverse pro-QE stance November 3, 2010 STRONG third-quarter GDP growth has persuaded a majority of City A.M.’s shadow Monetary Policy Committee (MPC) that rates should be kept on hold this month, with further quantitative easing (QE) staved off for now. The Bank of England MPC will meet today to decide whether to resume QE or raise interest rates from 0.5 per [...]
L&S in £215m property bid April 27, 2010 Property investment firm London & Stamford will snap up £215m of former HBOS-backed properties from Warner Estates and Lloyds Banking Group. It will buy the Radial distribution fund, which was a 50-50 venture between HBOS and Warner.
BEST OF THE BROKERS April 18, 2010 LLOYDS BANKING GROUP AlphaValue has moved a recommendation for Lloyds Banking Group from “add” to “sell” and say that short term valuation approaches are detrimental to the stock valuation due to Lloyd’s recovery profile. AlphaValue’s target price for Lloyds is currently 81p. NOBEL BIOCARE Standard & Poor’s (S&P) Equity Research has called Nobel Biocare’s stocks [...]
Real estate shares surge as bid for CSC sparks appetite November 25, 2010 BRITAIN’S leading shares pushed higher yesterday, buoyed by strength in heavyweight miners and banks, and by gains from real estate issues as Capital Shopping Centres bounced on bid interest. At the close, the FTSE 100 was up 41.83 points, or 0.7 per cent, at 5,698.93, dipping back in the closing auction after hitting a late-afternoon [...]
Barclays warns of consolidation October 25, 2010 BARCLAYS president Bob Diamond yesterday predicted that the avalanche of new financial regulation will spark a wave of consolidation across the banking sector, as struggling banks are swallowed up by more successful rivals. Diamond, answering questions from delegates at the CBI’s annual conference, said that higher capital requirements in particular would mean that banks will [...]
Lloyds set to drag its feet on returning cash to investors September 19, 2010 LLOYDS yesterday insisted that its focus remains fixed on cementing its strong capital position and that any plans to hand back cash to investors are still just a speck on the horizon. The bank said that reports it was mulling an imminent buyback of shares held by the government were pure speculation, particularly coming in [...]
CITY MOVES | WHO’S SWITCHING JOBS October 12, 2010 Virgin Atlantic The airline has appointed its chief financial officer Julie Southern as chief commercial officer, a newly-created board position. Southern will now take responsibility for all aspects of growing the airline. She originally joined Virgin Atlantic a decade ago from Porsche Cars Great Britain, where she was group finance director. Current finance director Tim [...]