London midday: Prices come off the top
17th Sep 2010 12:27
Having enjoyed a brief foray above 5,600 Footsie has slipped back below that level as miners come off the top, though the index remains in positive territory on the day. Invensys leads the way overall after the engineer became the exclusive supplier of railway signalling to Chinese rolling stock ma
Read moreLondon open: Footsie pushes higher
17th Sep 2010 09:00
After yesterday's sluggish performance London has more of a spring in its step today. Only three blue chips are down at present, with miners again going well after the late rally on Wall Street overnight. Vedanta and Kazakhmys are the sector stars this morning. Invensys leads the way overall after
Read moreLondon pre-open: Buying interest reawakens
17th Sep 2010 07:34
After yesterday's sluggish performance London looks like it has more of a spring in its step today with traders predicting the Footsie will open around 50 points firmer. British Gas owner Centrica has stepped up its campaign to secure more of its gas supplies. It has doubled its equity interest in
Read more3i starts internal rejig
17th Sep 2010 07:07
3i's decision to create an integrated private equity business by merging its buyout and growth capital units has paved the way for the departure of long-standing buyouts chief Jonathan Russell. There'll now be two business lines - Infrastructure and Private Equity - and expansion into other areas s
Read moreFriday newspaper round-up: HMRC, Clapham House, Basel III...
17th Sep 2010 06:38
HM Revenue & Customs is considering plans to deduct tax directly from workers' pay packets before salaries reach their bank accounts. There was widespread incredulity last night that HMRC, which has come under fire for its handling of the Pay as You Earn fiasco, had included a proposal in a discuss
Read moreFTSE 100 movers: Financials move higher
10th Sep 2010 16:05
Financials are pushing the Footsie higher. Interdealer broker ICAP is the best performer with Aviva, 3i, Admiral, Lloyds and Legal & General not far behind. Miner ENRC continues to decline because of its dispute with First Quantum concerning ENRC's acquisition of a majority interest in Camrose Re
Read moreBurger King in sale talks with 3i
1st Sep 2010 09:34
Fast food restaurant chain Burger King has been holding talks with private equity firms including the UK's 3i over a possible sale, according to reports. A report in the Wall Street Journal said that BK, the second largest fast food chain in the world after McDonald's, has been discussing a possibl
Read moreLondon afternoon: No sign of rally yet
11th Aug 2010 13:57
Expectations of a weak start on Wall Street have put the kybosh on any hopes of a recovery in London over the lunch time session, after leading shares endured a tough morning in the wake of downbeat statements from the Federal Reserve (last night) and the Bank of England (this morning). The Bank of
Read moreLondon midday: BoE adds to gloom
11th Aug 2010 12:08
London has lurched lower still after the Bank of England lowered its forecasts for economic growth in 2011 while raising inflation expectations. The Bank is now predicting economic growth of 2.5% in 2011, down from a previous forecast of 3.4%. He predicted that inflation would remain above the 2%
Read moreFriday newspaper round-up: Royal Bank of Scotland, Wheat, Barclays
6th Aug 2010 06:32
Royal Bank of Scotland is today expected to announce the sale of the UK's leading credit card payment processing business to private equity in a £2bn ($3.18bn) deal expected to generate an £800m to £900m book gain. People close to the transaction said RBS hoped to announce the sale of its Global Me
Read moreSodexo,3i-backed Labco Join Forces For UK Diagnostic Services
27th Jul 2010 14:26
LONDON (Dow Jones)--French catering and services company Sodexo (SDXAY) and Labco, a medical diagnostics company owned by 3i Group PLDC (III.LN), said Tuesday they have teamed up in a new joint venture to provide outsourced pathology services for the U.K.'s healthcare market. Integrated Patholog
Read moreNew 3i chairman buys
19th Jul 2010 16:54
3i's new chairman has acquired his first shares in the private equity company since joining the board. Sir Adrian Montague bought 10,000 shares at 279.2p each, for a total cost of £27,920. Sir Adrian joined the 3i board on 1 June 2010 and became chairman of the FTSE 100 company on 7 July. Sir A
Read moreFinancial News: Coller Plots $5B Fundraising Return
19th Jul 2010 01:01
By Paul Hodkinson Of FINANCIAL NEWS Coller Capital, one of the world's largest secondaries firms, is set to return to fundraising in the autumn with a target of about $5 billion, according to investors. The firm's existing fund passed its 75% investment threshold--the point at which firm
Read moreUPDATE: Candover Investments Takeover Talks Break Down
16th Jul 2010 09:27
(Adds detail) By Steve McGrath and Jessica Hodgson Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Listed private equity fund Candover Investments PLC (CDI.LN) Friday said takeover talks with an un-named suitor had ended after the bidder was asked to clarify its position. The talks, whi
Read moreUPDATE: SGS Pledges Better Half After Missing Views; Eyes Deals
15th Jul 2010 13:08
(Rewrites and adds comment.) By Katharina Bart Of DOW JONES NEWSWIRES ZURICH (Dow Jones)--Goods inspection firm SGS SA (SGSN.VX) Thursday pledged better second-half earnings after first-half net profit rose a weaker-than-expected 5.9%, and said it would continue looking at acquisitions
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