Kentz’s shares surge on £266m US acquisition December 9, 2013 ENGINEERING firm Kentz saw its share price soar by nearly 13 per cent yesterday after it unveiled a $435m (£265.6m) acquisition of US firm Valerus. Kentz, which was the subject of a failed takeover approach earlier this year, had long said it wanted to grow its engineering arm in order to bid for more engineering, [...]
FTSE chairman Gareth Davis tells us why he’s in no rush to retire March 17, 2014 Serial chairman and former tobacco boss Gareth Davis tells Elizabeth Fournier how he juggles three FTSE-listed firms THE ROLE of a company chairman is a tricky one. As head of the board, a good chair is expected to lead from the front; hiring, firing and managing its members, while keeping one eye on governance and [...]
City Moves for 26 November 2013 | Who’s switching jobs November 25, 2013 FRP Advisory The specialist restructuring and recovery firm has appointed Michael Healy as a partner. He joins from Leonard Curtis, the rescue and recovery firm. Healy has 22 years’ experience in business advisory restructuring, and has held roles at Barclays, Levy Gee, and RSM Robson Rhodes. Capco The business and technology consultancy has appointed Jonathan [...]
Housing market cools for winter but price growth beating wages November 17, 2013 HOUSE prices this month are still up four per cent on November last year, despite a small seasonal dip from October. According to Rightmove’s latest house price index, London prices are up by 6.9 per cent in the same period. In the year to September, average weekly earnings only rose by 0.8 per cent. Between [...]
Forget a Bitcoin bubble: A wider crypto revolt is challenging everything | City A.M. December 13, 2013 FOR ALL the talk of a Bitcoin bubble, it’s easy to miss the real significance of what is currently happening. The rise of Bitcoin is just the beginning. Cryptocurrencies are no longer the domain of activists and grassroots movements, they are nothing less than “new money”. Many are waiting for the moment when a central [...]
Fund manager Tritax launches £200m float to buy big boxes November 12, 2013 COMMERCIAL property fund manager Tritax yesterday announced a £200m flotation to launch the first listed pure “big box” UK real estate investment trust (REIT). “Big boxes” are massive warehouses – typically bigger than 500,000 square feet – and Tritax said it would let them to “institutional-grade tenants” on long-term leases of up to 25 years. [...]
Russia’s Tinkov sees London listing of TCS price at top end October 22, 2013 RUSSIAN entrepreneur Oleg Tinkov’s consumer credit firm TCS priced its London listing at the top of a target range yesterday, with shares gaining five per cent on debut as investors bet on its ability to capitalise on households’ growing appetite for debt. TCS Holding Group, owner of Tinkoff Credit Systems, has challenged state-controlled banks and [...]
London Stone to stand its ground as developer wins planning okay October 15, 2013 THE LONDON Stone, an ancient City landmark, is to stay in its place outside 111 Cannon Street, according to redevelopment plans for the building approved last night. A row broke out last year between 111 Cannon Street’s previous owner Minerva and a number of heritage societies after the developer wanted to move the ancient Grade [...]
12 times as many bankers earning €1m in Britain than any other European country November 29, 2013 The European Banking Authority has produced figures that show Britain has 12 times as many bankers earning over €1m (£856,000) than any other country in Europe. More than 3,500 bankers in Europe earned €1m or more last year, up 11 per cent from 2011. Britain accounted for 2,714 of the figure with the next highest, [...]
Italian luxury group Moncler eyes £2bn float November 27, 2013 MONCLER, an Italian maker of luxury fur lined puffer jackets, yesterday announced plans to float on the Milan stock exchange, hoping to replicate the success of Brunello Cucinelli, the luxury retail group that went public in early 2012. Shares in Brunello Cucinelli are up more than 200 per cent since the group’s flotation. Moncler considered [...]