Emaar to launch biggest listing in Dubai since financial crisis August 31, 2014 THE OWNER of the world’s largest shopping centre is to float in Dubai next month in what would be one of the largest equity sales in the Middle East since the financial crisis. Emaar Properties said yesterday that it expects to launch an initial public offer of at least 15 per cent of its shopping [...]
Afren considers recouping cash from directors August 31, 2014 AFREN, the oil and gas explorer that has suspended a number of board members including its chief executive and operations chief over “unauthorised payments” from third parties, has revealed it may look to recoup some of the cash involved from directors. In its 2014 half year results, released last Friday after being delayed from the [...]
Co-operative Group members vote for wide-ranging reforms August 31, 2014 THE CO-OPERATIVE Group’s members overwhelmingly backed a major reform plan this weekend, following the crisis in the mutual’s governing structure. The reforms were a watered-down version of those proposed by former City minister Lord Myners. More than 80 per cent of voting members approved the changes, which reduce the power of elected board members, following [...]
City Moves for 01 September 2014 | Who’s switching jobs August 31, 2014 Cushman & Wakefield James Beckham has been hired to lead the property adviser’s London capital markets practice. He joins from JLL, where he was an international director in its City investment business. Beckham built King Sturge’s City of London capital markets business in the late 1990s. De La Rue Martin Sutherland has been appointed chief [...]
Best of the Brokers for 01 September 2014 August 31, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com DEBENHAMS N+1 Singer has upgraded to “Buy” from “Hold”, but cut the target price to 80p from 85p. The broker thinks Debenhams revised strategy and disciplined approach offers clear medium term upside potential, and that a “trading buy” looks justified now ahead of [...]
London Report: Economic data to show UK recovery on a steady course August 31, 2014 ECONOMIC data due this week appears to show continuing steady growth in the UK’s economy, with little chance of an interest rate rise when the Bank of England announces its latest decision on Thursday. Mortgage approvals data for July, due today, may have dipped slightly, but analysts expect this weakness to be temporary. Meanwhile manufacturing [...]
New York Report: US coal to rise on Russia bid August 31, 2014 BEATEN-DOWN US coal company stocks may receive a lift in coming weeks if deteriorating relations between Russia and the West push President Vladimir Putin to shut off Europe’s natural gas supply. The crisis in eastern Ukraine has emboldened Europe and the United States to impose broad sanctions on Russia. But Europe finds itself in a [...]
EngageSciences CEO Richard Jones on the science of social media marketing August 31, 2014 Between 2011 and the end of 2013, social media ad spend in the UK rose from £265m to £585m, according to PwC and the IAB. Last year alone, it increased by 71 per cent. Amid the boom, however, marketers have voiced concerns that increased spending has not been accompanied by a commensurate rise in effectiveness. [...]
Scotland will lose its brightest brains if it becomes independent, scientists say August 31, 2014 If Scotland votes for independence on 18 September an exodus of the country's best scientists will follow, according to senior academics. They told The Guardian that a number of scientists at Scotland's top universities had already expressed willingness to relocate in the event of a “yes” vote. Some of them have been approached [...]
Amazon hires Visa credit card’s Nick Talwar to expand lending business August 31, 2014 Amazon has hired Visa North America credit card boss Nick Talwar to expand Amazon Lending. When the e-commerce giant first set up the lending business three years ago, very little was said about it. There were no press releases or public announcements, and knowledge of it was limited to private invitations sent to a [...]