Activist Edward Bramson’s second Sherborne Investors board bid draws ire of Electra directors September 20, 2015 Directors of profitable private equity firm Electra are growing more frustrated at activist investor Edward Bramson’s attempts to join the company’s board. Bramson’s firm Sherborne Investors, which owns just under 30 per cent of Electra, last week called another general meeting so shareholders could vote on the matter. It follows a failed bid to be [...]
Debenhams coup: Shareholders and City stockbroker Cenkos plot shake-up at retail chain September 20, 2015 Debenhams could be forced to undergo a shake-up of its senior management after coming under pressure from a group of disgruntled investors unhappy with the department store group’s performance. City stockbroker Cenkos is understood to have been asked by Debenhams shareholders that collectively own a stake of around 20 per cent in the company to [...]
Las Iguanas owner to sell £150m bonds September 20, 2015 THE OWNER of restaurant brands Cafe Rouge and Bella Italia, is planning to tap the debt markets as part of a refinancing that would see the group issue around £150m worth of bonds. Casual Dining Group (CDG), which was previously known as Tragus, has undergone a major restructuring since a consortium led by private equity [...]
Insurers look to technology to boost profits by profiling clients September 20, 2015 New technology, which monitors how fast you drive and where you go, as well as your Facebook profile is the future for setting insurance premiums. A survey by Interim Partners, found that, in addition to tracking technology installed in potential customers’ cars, insurance executives said social media profiling, combined with geographic, political and economic data, [...]
Volkswagen told to recall almost 500,000 vehicles over emissions September 18, 2015 Volkswagen has been ordered to recall nearly half a million cars in the US by the Obama administration, which claims the German car group used software that was purposely designed to dodge environmental standards for reducing smog. The US government's Environmental Protection Agency issued the company a notice of violation this afternoon, accusing Volkswagen of [...]
Legal & General staff vote to strike over 1,700 potential job cuts at Kingswood, Surrey headquarters September 18, 2015 Legal & General staff have voted for strike action over the threat of 1,700 job cuts at the group's headquarters in Kingswood, Surrey. In total 68 per cent of L&G's Unite members at the hub took part in the vote, with 63 per cent voting in support of taking industrial action. However action may be [...]
Apple wins patent ruling against Samsung which could put Galaxy devices’ slide-to-unlock and autocorrect at risk September 18, 2015 Apple just won another victory in its patent war against rival Samsung, which could force the Korean tech giant to stop using certain features in its devices. The row between the world-leading smartphone manufacturers stems from the slide-to-unlock feature, quicklinks and autocorrect. Apple argues that Samsung stole these features, and the courts have once again [...]
Apple wins patent appeal against Samsung over autocorrect, unlocking and linking features September 18, 2015 Apple has potentially won the right to stop Samsung selling phones that used its technology without proper permission. Although Apple had already won the case back in 2014, it appealed the decision in which it was awarded $120m (£76m) in damages, but that Samsung did not have to stop selling the devices that use the [...]
Worldpay confirms intention to float on the London Stock Exchange September 18, 2015 Payments processing company Worldpay has confirmed plans to raise £890m through a float on the London Stock Exchange's main market in October. The company, owned by Advent International and Bain Capital, is expected to have a free float of at least 25 per cent after its listing. "The IPO is an exciting and logical next [...]
Australia throws spanner in the works for Shell’s takeover of BG Group September 18, 2015 Australian regulators have voiced concerns about Royal Dutch Shell's takeover of rival BG Group, due to the potential impact on domestic gas supplies. In a statement today, Rod Sims, chairman of the Australian Competition and Consumer Commission (ACCC), claimed the deal was not in the best interests of Australian consumers, as it might result [...]
