KKR plans stock market deluge
Kohlberg Kravis Roberts, the world’s biggest buy-out group, is preparing up to six of its portfolio companies for initial public offerings, potentially worth billions of dollars. It is thought that KKR, the private equity group made famous with the $30bn takeover of RJR Nabisco nearly 20 years ago and immortalised in the book Barbarians at [...]
Lord Myners wants more radical reforms
Speaking today on the BBC News Channel’s Leading Questions programme; Lord Myners, the City Minister, said that the reforms of the banking system should be more radical. Former regulator Sir David Walker is the man that Gordon Brown in February put in charge of reviewing the UK banking industry. An interim report was produced last [...]
Entrepreneur Profiles – Jon Hunt
Not many people can truthfully say that they 'called' the end of the property boom - whilst some say they saw it coming, very few put their money where their mouth is and sold up investments just in time to make a killing and get out whilst the going was still good. Jon Hunt is a businessman that did just that.
IMF warns of £10 trillion cost of credit crunch
The International Monetary Fund (IMF) today issued a warning that the global credit crunch is likely to cost Governments a total of £10 trillion. That is a truly incredible, astounding, even jaw dropping amount. It is so large in fact that it is actually incomprehensible, and that’s exactly the problem when amounts this large are [...]
Ebay and Skype was never going to end well
There may never be a better example of ‘how not to make a successful acquisition‘ when Ebay paid £1.6billion for Skype back in 2005, it seemed like a strange purchase then and over time it has morphed into a seriously costly mistake for the online auction business. When Skype was acquired by Ebay from founders [...]
Is the commercial property market making a recovery?
Liberty International, the UK’s market leader in retail and commercial property, announced an arguably stellar set of interim results today. The property group’s results contained numerous positive nuggets signalling what could be a turnaround – albeit an admittedly fragile one – in fortunes for the commercial property market which has obviously taken a hammering thanks [...]
Anglo American announces 65% fall in profits
Anglo American PLC, the mining giant headquartered in London, announced a core operating profit of $2.054 billion (£1.2billion) for the 6 months to 30th June 2009 representing a huge 65% negative difference in profits for the same period last year. The substantial reduction in profits, blamed on a “significant decline in realised prices and lower [...]
Tricky trading conditions sees British Airways fly into the red
British Airways today announced its first quarterly loss since 1987, blaming tough trading conditions and the weakening pound. Keith Williams, the BA chief financial officer, announced revenue of £1.9billion for the 3 months to June down 12% from the same time last year. His presentation focused on the firm’s successful cost cutting programme which has [...]
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