Brylcreem is put up for sale
Brylcreem, the iconic hair grooming product, has been put up for sale by Unilever. The brand was bought in 2009 in a deal which also included the bathtime favourite Radox and Kiwi shoe polish. Unilever is looking to narrow its focus on to core brands. A shortage of takers is unlikely as the brand has a strong position in the Chinese and Indian markets.
Billionaire eyes pocket money
Asia’s richest man is among a host of venture capitalists and institutions who have invested $10m (£6m) in a UK start-up aiming to bring pocket money into the era of online banking. Osper, a prepaid debit card and mobile banking app aimed at under-18s, has been backed by Horizon Ventures, the venture capital firm of the Hong Kong billionaire Li Ka-shing.
What the Sunday papers said
Alarm over Trident delay
Defence contractors will be alarmed at moves to delay the order of a replacement for Trident. Originally, a final decision on whether to replace the UK’s nuclear submarine fleet was due to be made in 2016. However, a cross-party group of MPs have written a report urging a delay to the project, the final bill for which is likely to top £20bn.
Independent on Sunday
Platinum mines to be sold off
Anglo-American has put some of its South African platinum mines up for sale as part of chief executive Mark Cutifani’s rationalisation of the business. The mines have been identified as among underperforming assets set to be cleared out. In total the group hopes to raise an estimated $4bn from the disposals.
Rethink on Land Registry sale
Under-pressure Business Secretary Vince Cable is reported to be rethinking a future sale of the Land Registry. Following widespread criticism of his handling of the Post Office float, Mr Cable, 71, is reportedly looking to kick the sale into the long grass until after the election when it probably won’t be his problem.
Mail on Sunday
Carlyle poised to dispose of cabs
Private equity firm Carlyle is believed to be poised to sell off London cab firm Addison Lee for as much as £800m. In fourteen months of Carlyle’s ownership the estimated value of the company has more than doubled and annual profits last year stood at £21m up from £7m the year before.
House prices data set to be released
Property prices will be very much in focus this week, as a fresh raft of data on the sector is released. Nationwide and Halifax will both deliver house price measures for June, with market watchers keen to see if the recent slowdown in mortgage lending has reined in surging prices.
Trading update from Persimmon
On Wednesday the housebuilder Persimmon has a trading update. Investors are betting on continued bullish performance – the entire sector rallied strongly last week after the Bank of England announced what were largely seen as lenient controls on mortgage lending.
Carillion should ring a few bells
On Wednesday the construction management specialist Carillion issues a trading statement. The company has been restructured and won £3bn worth of contracts in the first half. Iain Armstrong, of Brewin Dolphin, says: “The upside from the new contract wins are not reflected in the share price”.
Bullish start for Greene King
Pub group and brewer Greene King publishes full-year figures on Thursday. Investec forecasts a pre-tax profit of £173.2m and predicts that the company will have had a bullish start to the year, thanks to the World Cup and good weather. Cyber security specialist NCC Group also has finals on Thursday.
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