Markross121_ No Comments

The End Of The 9 to 5 Working Day?

Traditional workplace hours of 9am to 5pm are now only the norm for a minority of workers, research suggests.

Just 6% of people in the UK now work such hours, a YouGov survey found.

Almost half of people worked flexibly with arrangements such as job sharing or compressed hours, allowing them to juggle other commitments, it found.

Anna Whitehouse, a campaigner whose own flexible working request was refused by her employer, said there were still misconceptions about such arrangements.

  • 9 to 5? Make it 8 till 4, actually…
  • Male employees want flexible work too
  • ‘Many workers penalised’ over flexi-time

In her case, her employer refused her request for 15 minutes flexibility at the start and end of each day to enable her to drop off and pick up her children from nursery.

“They denied it because they said it would open the floodgates for other people to request the same thing.”

Mrs Whitehouse, an author and blogger known as Mrs Pukka, said the refusal prompted her to resign and blog about the experience.

“My background is as a journalist so I just started writing. I’m not a campaigner or an activist, but I had a moment of frustration and went with it.”

Since then she has started the Flex Appeal, aimed at convincing firms to trial flexible working and also to make people aware of their right to request flexible working.

“It’s not about parents, it’s about people. There’s so much research out there showing working flexibly is better for mental health and for productivity,” she said.

Polling firm YouGov surveyed over 4,000 adults for the survey, which was commissioned by fast-food chain McDonald’s.

How to request flexible working

Every employee in the UK has the statutory right to request flexible working after 26 weeks of employment.

Requests should be in writing, stating the date of the request and whether any previous application has been made and the date of that application.

Requests and appeals must be considered and decided upon within three months of the receipt of the request.

Employers must have a sound business reason for rejecting any request.

Employees can only make one request in any 12-month period.

  • Can your job be as flexible as this?
  • Is flexible working biased against non-parents?
  • How to ask the boss for flexible working

The study found most full-time workers would like to start work at 8am and finish by 4pm, hours chosen by 37% of those surveyed. The second most popular choice was 7am to 3pm, chosen by 21% of those surveyed.

It found flexibility was important to people of all ages and life stages, including parents and students, for example.

Those who did work flexibly said it improved their motivation and encouraged them to stay in a job for longer.

Peter Cheese, chief executive of HR industry body the CIPD, said organisations willing to offer flexible working would attract a higher number of applicants.

But he said more firms needed to step up: “Uptake of flexible working is still low and most jobs are not advertised as being open to different working arrangements,” he said.

Read Full Article – www.bbc.co.uk

Markross121_ No Comments

VW CEO Says It Is Open To Alliance Or Merger Of Ducati

Motorbike brand Ducati could be merged with a rival or enter an alliance given a lack of synergy potential with the passenger car businesses at VW, Volkswagen (VOWG_p.DE) Chief Executive Herbert Diess told German daily Handelsblatt.

Volkswagen has struggled to find a long-term solution for the motorbike brand amid internal power struggles, with a 1.5 billion euro ($1.8 billion) auction stalled last year amid resistance from German trade unions.
VOWG_p.DEXetra
+1.10(+0.78%)
VOWG_p.DE
  • VOWG_p.DE

“I can imagine a combination or a partnership with other brands. Ducati as a motorbike icon business within the Volkswagen Group is not sufficient,” Diess, who took the helm as Volkswagen chief executive in April, told the paper.

Read Full Article – www.reuters.com

Markross121_ No Comments

PepsiCo Buys Sodastream For $3.2Billion

PepsiCo has announced it is buying Sodastream for $3.2bn (£2.5bn).

Israel-based Sodastream makes a machine and refillable cylinders allowing users to make their own carbonated drinks.

The deal gives Pepsi a new way of reaching customers in their homes at a time when its signature sugary drinks are becoming less popular.

It is also the company’s first big acquisition since chief executive Indra Nooyi disclosed she would step down in October after 12 years at the helm.

PepsiCo will buy all outstanding shares of Sodastream for $144 each – almost 11% higher than its closing price in New York on Friday.

The stock has soared 85% this year after rising by 78% in 2017.

The takeover has already been approved by the boards of both firms.

Markross121_ No Comments

Ladbrokes Does A $200Million Deal With MGM Resorts

GVC Holdings confirms 50-50 venture in newly liberalised US sports betting market

Earlier this year, the supreme court overturned a gambling ban on sports including basketball and American football.

The UK owner of Ladbrokes and Coral has sealed a $200m (£152m) tie-up with the world’s biggest casino operator, catapulting it into the lucrative, newly liberalised US sports betting market.

On Monday, the FTSE-listed gambling group GVC Holdings confirmed the joint venture with MGM Resorts, giving both partners a foothold in what is forecast to grow into a multibillion-dollar sector.

MGM – best known for Las Vegas casinos such as the MGM Grand and the Bellagio – and GVC have agreed to inject an initial $100m each as part of a 50-50 joint venture focused on US sports betting.

It would make GVC the lead sports betting and online gambling services provider for all MGM’s casino and hotel properties in the US.

Importantly, the deal will allow GVC and MGM to work together to create gambling/betting ventures within newly sanctioned US states, delivering a range of land-based and digital gambling opportunities.

Read Full Article – www.theguardian.com

Markross121_ No Comments

Sky Posts Forecast-Beating Annual Results As Bidding War Rages On

Rupert Murdoch could table a new £26bn-plus offer for Sky this week in an effort to stop rival Comcast from becoming the new owner of Europe’s biggest pay-TV broadcaster.

Under UK takeover rules, Murdoch’s 21st Century Fox has until the end of Thursday to formally post a bid to Sky shareholders as he looks to take control of the 61% of Sky he does not already own.

Analysts, on the other hand, do not believe it makes sense to go through that costly process and believe Murdoch should sweeten his offer before Thursday’s deadline.

“Logic says that it would make the most sense to put their best foot forward and make a new offer rather than send out the documents with the current inferior bid to shareholders,” says Bruno Burki from research and advisory firm United First Partners.

Murdoch could use Fox’s full-year results at the close of business in the US on Wednesday to announce a new bid. Disney, which could look to sideline Murdoch and mount a direct bid for full control of Sky, is due to report its latest quarterly results on Tuesday.

 

Read Full Article – www.theguardian.com

Markross121_ No Comments

Esure Founder to Make £360Million

Esure founder Sir Peter Wood will make more than £360m from selling the insurance group to private equity firm Bain Capital in a £1.2bn deal.

Shares in the company, which owns Sheilas’ Wheels and GoCompare, shot up more than 30 per cent on Monday after the firm revealed it was in talks with US-based Bain.

The unsolicited bid of 280p per share represents a premium of 37 per cent on the share price before the offer was made. However, it is below the float price of 290p when it launched on the London Stock Exchange in 2013.

If the deal completes, esure will become a private company and its shares will no longer be traded on the stock market.

Sir Peter, who holds approximately 30.69 per cent of esure’s stock, will receive around £368m, but has also pledged to reinvest £50m in the business.

He will also continue as chairman of the firm – Bain said that due to his “extensive experience in the insurance sector and track record of driving growth and profitability at esure”, Sir Peter’s ongoing participation was “an important element of the offer”.

Sir Peter, who pocketed £198m when esure first floated three years ago, said the deal was “a great outcome for shareholders, for the company, and for customers”.

“As a private company and with Bain Capital’s backing, esure will be able to invest behind the innovation required to fully realise the opportunities in this market,” he added.

Robin Marshall, managing director and co-head of Bain Capital Europe, said: “Sir Peter Wood is a towering figure in the industry and we would be delighted to be able to take the company that he and his team have built to the next level. We are excited that he will remain a minority shareholder in the company and also grateful that he will remain as Chairman to facilitate a smooth transition to private ownership.”

Read Full Article – www.independant.co.uk

Markross121_ No Comments

Falcata closes biggest US debut buyout fund of 2018

Falcata Capital has raised $1 billion for its first private equity fund, becoming the first firm in the US this year to hit 10 figures for its inaugural effort. Based in Houston, the firm will target companies in the enterprise software and tech-enabled services sectors with investments of between $50 million and $200 million.

The vehicle ties two others for the title of largest debut buyout fund closed in the US since the start of 2012, per the PitchBook Platform. And while those other two firms were led by alumni of private equity powerhouses, the background of Falcata’s founders is a bit more unorthodox.

Gamut Capital Management, which closed a $1 billion maiden fund in early 2017, is led by Stan Parker and Jordan Zaken, two former senior partners at Apollo Global Management. Cove Hill Partners, which wrapped up a $1 billion debut last September, was formed by one-time Bain Capital executive Andrew Balson.

 

Read Full Article – www.pitchbooks.com

Markross121_ No Comments

The Jordan Company Reaches Fundraising Goal

The Jordan Company has closed its fourth flagship fund on $3.2 billion, per Buyouts, matching both its target and a predecessor that raised $3.2 billion in 2014. Both those efforts are slightly smaller than the second vehicle in the firm’s flagship series, which garnered $3.6 billion in 2008. Founded in 1982 and headquartered in New York, TJC specializes in middle-market buyouts across a range of industries, including specialty chemicals, business services, financial services and energy.

The firm has also dabbled in the logistics sector of late, buying GlobalTranz, a freight brokerage business, for a reported $400 million in June. The firm has finalized nine deals so far in 2018, per the PitchBook Platform, after completing 20 each of the past two years. TJC has also announced add-on agreements with Interamerican Motor and VER this year.

 

Read Full Article – www.pitchbooks.com

Markross121_ No Comments

How Important Is The UK To EU Venture Landscape?

While arguments ring on about whether the UK will end up leaving the EU as scheduled by next March 29, there is no denying that the exit will have a profound effect on Britain and the bloc politically, socially and economically.

This is particularly true for the continent’s venture industry, with questions arising over how LPs will react, whether leaving will put pressure on UK startups in terms of funding options and retaining international talent, and how entrepreneurs will feel about setting up new companies in Britain.

But exactly how big a part is the UK of the EU venture landscape?

We’ve put together a datagraphic highlighting how much of the bloc’s VC fundraising and investing take place in the UK. Click on the individual tabs to see info on fundraising, deals or exits, and click on the toggle button to see how the data changes with or without the UK as a part of the EU.

Read Full Article – www.pitchbooks.com

Markross121_ No Comments

Another Record Year For The US PE Middle Market?

There are many themes in the US PE middle market worth discussing, but one trend we can’t ignore is its consistent strength over the years. On cue, 2018 is on pace for yet another record year for both deal counts and transaction value, coming on the heels of a blockbuster 2017. Both figures were ahead of those in 1H 2017—the 1,358 deals worth a combined $178.5 billion from 1H 2018 were 16% and 5% increases, respectively, over the same period last year, per our recent US PE Middle Market Report.
US PE middle market deal flow

If past is precedent, the back half of 2018 will be stronger than the first half, as several past years saved their best quarters for last. Going back from 2017 to 2010, fourth quarters posted the highest quarterly value totals six out of eight times, and one of those exceptions (2014) saw its best quarter in 3Q. Moreover, there’s little reason to expect a change of pace in the near-term when taking recent fundraising numbers into account. Since the start of 2010, only four quarters have seen at least $40 billion raised for middle-market-focused buyout funds in the US. Three of those four quarters have been recent (4Q 2016, 1Q 2017 and 4Q 2017), so the next two to six quarters should see high levels of investment activity as those new pools are deployed.

 

Read Full Article – www.pitchbooks.com