Financier Bill Browder, thorn in Putin’s side, is on the verge of securing a UK Magnitsky law after a five-year push Since Sergei Magnitsky was killed in a Russian jail in 2009, financier Bill Browder has campaigned vociferously to bring those responsible for his former lawyer’s death to justice. This high-profile activity has set him on a collision course with the Russian authorities and specifically Vladimir Putin. In apparent retaliation against his justice campaign, the Russian [...]
Unilever shows that the Prime Minister must show her cards on takeovers by foreign companies Prime Minister Theresa May has talked tough on foreign takeovers and raised the prospect of a beefed-up national interest policy as fears rise about opportunistic takeovers on the back of the weaker pound. However, it is unclear how far the government would actually intervene in corporate dealmaking when it comes to the crunch. Ministers were [...]
Rugby stakeholders urged to back deal for Gloucester club in a bid to unlock more investment for the sport PREMIERSHIP Rugby stakeholders are being urged to back a deal crucial for both Gloucester Rugby Club and investment in the wider game at a meeting later this month. The deal centres around Syrian-born billionaire Mohed Altrad who had hoped to take a 54 per cent stake in the club. Altrad’s investment would pave the way [...]
Q&A: How will Philip Hammond’s 2017 Budget affect your taxes? March 9, 2017 Chancellor Philip Hammond delivered several blows to the self-employed yesterday, but they're not the only group impacted. Here, we've laid out all the ways in which the Budget will affect your tax affairs: NATIONAL INSURANCE What’s happening to National Insurance? National Insurance contributions (NICs) for self-employed workers will be hiked over the next two years, [...]
Snap shares sparkle and pop on first day of trading as it gets valued at around $28bn March 2, 2017 Shares in tech company Snap, parent of messaging app Snapchat, jumped more than 40 per cent in their first day of trading on the New York Stock Exchange yesterday, defying doubts about the company’s early-stage business model, losses and slowing user growth. In a frantic day of trading, shares changed hands at more than $25, well [...]
Leaving the EU without a deal would bring significant tariff and regulatory barriers to trade, the CBI is set to warn at Mansion House March 2, 2017 The CBI has warned that leaving the EU without a deal and reverting to World Trade Organisation (WTO) rules would open a pandora’s box of economic consequences, hurting firms on both sides of the Channel. In a speech this evening to the Lord Mayor’s business and investment dinner at Mansion House, CBI president, Paul Drechsler, [...]
New York wins big in global IPO boom – and that’s even before Snap’s flotation is counted March 2, 2017 The New York Stock Exchange (NYSE), home to this week’s eagerly-awaited IPO from Snap, has been the most popular exchange for new listings globally so far this year. The findings come as new data shows that the number of flotations worldwide has surged to levels not seen since before the credit crunch. With 187 offerings [...]
Ultimate Products’ London IPO has been priced at £105m ahead of it joining the main market next week March 1, 2017 Ultimate Products' offer price has been set at 128p, which will equate to a market capitalisation of approximately £105.2m. The offer comprises 41,084,800 shares, representing 50 per cent of the company’s issued share capital on admission. Shore Capital is acting as sponsor, global co-ordinator and bookrunner to the Company, and Cenkos is acting as joint bookrunner. [...]
A former City headhunter is transforming a sleepy French jam-making operation into a multi million pound business March 1, 2017 A former City headhunter is transforming a sleepy French jam-making operation into a multi million pound business supplying jams and condiments to Luxury hotels around the world. Eli Gifford, 34, once placed workers in London's distressed debt hedge fund industry for Morgan Hunt. Now he has doubled the size of a small Jam-making operation in [...]
Consumer goods group Ultimate Products heads for a £100m-plus IPO in the next few days March 1, 2017 Ultimate Products, the innovative consumer goods group, is set for a £100m-plus IPO in London within days. It will list on the main market under the name of UP Global Sourcing Holdings. The IPO’s pricing could take place as early as today. The placing is understood to be substantially oversubscribed with investors taking part believed [...]
