Looking over today's coverage of the Provident Financial fiasco on the front pages of the UK business sections I was reminded of a piece written by my esteemed former boss - Richard, the "Fletch", Fletcher - in The Daily Telegraph six years ago. ..
A cheeky website about deals, dealmakers and anything else I find interesting. Edited by Ben Harrington. If you have a tip or want to discuss a story please feel free to email Betaville at email@example.com.
Hat tip to my old Telegraph colleague Harry Wilson, now City editor at The Times, who today landed a rather good scoop about Eric Daniels, chief executive of Lloyds during the bailout, suing his old employer for hundreds of thousands of pounds of unpaid bonuses.
Below is a link to Harry's story, which was splashed across the front page of the The Times business section:..
Credit Suisse has failed to get a Norwegian tycoon's claim thrown out of the High Court court and could be heading for a messy trial with plenty of juicy disclosure.
Court moles have got in touch with Betaville to inform this website that on July 11, 2017 the Honourable Justice Teare dismissed Credit Suisse's attempt to "strike out" with summary judgement Brova's multi-million claim over the Hertsmere House fiasco...
It never ceases to amaze Betaville why bankers, lawyers and accountants read their uber confidential documents on the tube (or subway for Betaville's US/global readers).
But Betaville isn't complaining as occasionally this website/business journalist has picked up the odd jackanory from sneaking a peak while squashed in the tube...
This is a bit late in the day but Betaville thought it might be worthwhile flagging up another highly amusing and insightful column from one my favourite business commentators: Alistair Osborne, now of The Times.
If you have been following what's being going on at the scandal ridden Telit then Alistair's piece from yesterday's section is well worth a read. Below is the link:..
And below is a link to the confirmation of yesteday's scooplet.
It's still pretty quiet (ish) in the British dealmaking market and that's to be expected because it's August.
So, here is a snippet on a little micro cap equity fundraising to keep market watchers happy.
Sources claiming to be familiar with the matter say Inspirit Energy, which is developing the "new generation of heat elecrtical power boilers", is poised to tap up investors for about £300,000...
For some reason Betaville still has its doubters. Indeed, often when Betaville publishes scoops and scoopettes this website's inbox is flooded with all sorts of disparaging notes expressing doubts about the veracity of my tales. ..
Crispin Odey just can't keep out of the headlines at the moment.
If it's not the terrible performance of his flagship Odey European fund then it's his controversial views on his own investments that keep grabbing attenion of City scribblers (or should I say "typers" these days?)...
The mystery company circling Calgon Carbon Corporation, a US-based company that manufactures products that remove contaminants from liquids and gases, is said to be Japanese.
Earler this week Betaville reported the potential acquirer of Calgon Carbon Corporation could be from China but sources claiming to be familiar with the matter said the potential buyer they are aware of is actually from Japan...
The Wall Street Journal reports that Crispin's letter to investors show his flagship long/short European Fund is down 10pc for July. Below is the link the WSJ piece:
Novelis's approach for rival Constellium could value the Dutch aluminium company at up to $1.3 billion.
According to sources claiming to be familiar with the matter, Indian metals giant Hindalco, which controls Novelis, could be willing to settle a legal dispute with Constellium.
This would effectively add an extra $2 a share to Novelis's original informal $10 a share approach for Constellium, said the sources claiming to be familiar with the matter...
Oh look - Mayan Energy has this morning finally confirmed Betaville's scoopette from last week about it's equity fundraising. I have pasted the link below:
It's the beginning August so it's been a bit quiet in the world of small cap fundraisings but here is one Betaville has just discovered that is close to announcement.
Mayan Energy, the AIM-listed energy group focused on Mexico, is working an equity fundraising of up to £1 million, said sources familiar with the matter.
These sources said Mayan Energy is likely to raise the money at a premium to the current share price, possibly at around 0.3p...
Another craft brewery has been snapped up by one of the big brewing corporations.
This time Sapporo, Japan's fourth largest brewery, has bought San Francisco-based Anchor Steam for $85 million.
Now, Betaville tends to shy away from corporate commentary but on this particular topic this website may have some insight...
Below is a link to another highly amusing but insightful column from one of my favourite City writers: Simon English of the Evening Standard.
Remember Betaville's tale about how Deloitte had got itself in a bit of a pickle after one of its top bean counters publicly criticised the Icebreaker tax avoidance scheme that the firm itself was defending in the British commercial courts?
Click on the link below if you don't:..
[Disclaimer - the information on Betaville does not consitute any form of investment recommendation and is not intended to be relied upon by readers in making, or refraining from, any investment decisions].