Business in brief
Monday 21 July 1997
German companies have overtaken British businesses as the most attractive takeover targets in the European Union for overseas corporate investors, according to another survey by KPMG.
In the first six months of the year pounds 8.8bn of foreign corporate investment flowed into Germany, a six-fold increase on the first half of last year. Acquisitions by international companies in the UK fell 40 per cent to $11.6bn - the first decline for more than three years. KPMG said the decline was probably due to the strong pound and the UK's stance on the single currency.
A City-based outplacement consultancy called Fairplace Consulting is set to float on AIM on 28 July to raise pounds 765,000, valuing the business at pounds 3.7m. The business was founded in 1992 by chairman Mark Allsup and Colyn Gardner, a non-executive director, and specialises in the financial sector. Nominated advisers are Grant Thornton and brokers are Ellis & Partners.
Ribo Targets, a new biotechnology company formed by a research team at the Medical Research Council Laboratory of Molecular Biology at Cambridge, has received pounds 7m from four private equity funds. Ribo will use the funds to research and develop a new generation of pharmaceuticals for the treatment of HIV and Hepatitis C.
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Migrants in Kos: Photos show real tragedy after Brits abroad complain of 'awkward' holidays
British tourists complain that impoverished boat migrants are making holidays 'awkward' in Kos
Michael Gove determined to scrap the Human Rights Act – even if Scotland retains it
Thousands of teenage girls enduring debilitating illnesses after routine school cancer vaccination
Threat to scrap Human Rights Act could see UK follow Nazi example, warns UN official
Why this year's general election was the most unfair in Britain's history
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