CONTROLLING COSTS August 26, 2010 Q.I am thinking about selling my business in the near future. How do I go about finding a buyer? A.The most common route is to get in touch with corporate finance advisers, says Jenny Robertson, senior associate at Stevens & Bolton, a law firm. “The first thing you need to do is to get a [...]
The commercial property king who says the City is ready for take-off November 2, 2010 Land Securities’ chief executive leaps from behind his desk, bounding across his seventh floor office overlooking Trafalgar Square as he welcomes City A.M. – after years of stagnation, the country’s biggest property developer is on the move again – and it certainly seems to have put a spring in Francis Salway’s step. Last week, the FTSE [...]
US data boost recovery talk January 28, 2010 New orders for long-lasting US manufactured goods edged higher in December and the number of workers filing applications for jobless aid fell last week, indicating the economy remains on a recovery path. The US Commerce Department yesterday said durable goods orders rose 0.3 per cent last month, held back by a surprise drop in civilian [...]
Fitness First in £1.2bn IPO June 27, 2010 BUYOUT house BC Partners is believed to be lining up Fitness First for a flotation in the Far East which could value the world’s largest gym group at between £1bn and £1.2bn. BC Partners, which has enjoyed success with the initial public offerings (IPOs) of travel IT firm Amadeus and French care home operator Medica [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 30, 2010 FINANCIAL TIMES OSBORNE PLANS TREASURY STAFF CUTS George Osborne is planning to cut staff numbers at the Treasury by about one-quarter and scale back his department’s role as he attempts to lead by example in the search for sweeping spending cuts across Whitehall. The chancellor will reconvene the public spending “star chamber” this week and [...]
Modest gains for house prices June 3, 2010 HOUSE prices rose just 0.5 per cent in May on the previous month, indicating that after a sharp recovery, the UK property market is finally starting to level off. The latest monthly figures from mortgage lender Nationwide revealed that house prices are now up 12.2 per cent from their trough last February and are less [...]
Lettings showing signs of recovery as rents increase May 26, 2010 ALMOST a third more landlords saw home rental rates rise in the past three months than those who reported falls, signalling a sharp recovery in the residential lettings market, according to the Royal Institution of Chartered Surveyors (RICS). RICS said 30 per cent more of its UK members reported increasing rents in the three months [...]
Goldman and TPG close in on Ontex July 4, 2010 GOLDMAN Sach’s private equity wing is close to completing the purchase of nappy-manufacturer Ontex in partnership with American buy-out house TPG for more than €1.2bn (£990m), reports the Sunday Telegraph. The deal to purchase Ontex from Candover nearly collapsed when Goldman Sach’s original equity partner pulled out, but the late addition of TPG has kept [...]
Superdrug reduces losses by cutting costs and keeping focus on local offers July 5, 2010 HIGH Street retailer Superdrug has reported a pre-tax loss of £243,000 for the year to December 2009, against a loss the year before of £7.4m. The firm has pulled its operating profits out of the red to report a £6m gain, compared to a loss of £2.4m last year. Sales were broadly flat at £1.1bn, [...]
Estate agents predict bounce in activity and sales post-election May 10, 2010 UNCERTAINTY over the election was not enough to dampen estate agents’ sentiment last month with surveyors expecting a post-election bounce, the Royal Institute for Chartered Surveyors showed yesterday. A net 17 per cent of estate agents reported rising rather than falling house prices, up from just 9 per cent in March. And the positive sentiment [...]