City Moves for 15 August 2014 | Who’s switching jobs August 14, 2014 KPMG Yael Selfin has been appointed as a director in the firm’s economics and disputes practice. She joins from Edymar, a boutique consultancy she created and led. She has also been a partner at Volterra, and held the position of head of macro consulting at PwC. Jersey Finance Robert Christensen has been appointed chairman of [...]
Best of the Brokers for 15 August 2014 August 14, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com DOMINOS PIZZA PLC Numis have given the pizza takeaway company a “buy” rating with a target price of 710p. Analysts believe the company still has significant growth prospects and expect both petrol and food costs to decrease. They expect accelerating store expansion. INFINEON [...]
London Report: Putin’s Crimea comments help to calm FTSE August 14, 2014 THE FTSE yesterday rose after being bolstered by apparently conciliatory comments from Russian President Vladimir Putin on a visit to Crimea, as well as expectations for a continuation of ultra-loose monetary policy. On a trip to Crimea, the Ukrainian region annexed by Russia in March, Putin said his country would stand up for itself but [...]
New York Report: Wall St rises amid talk Fed won’t up rates August 14, 2014 US STOCKS edged higher yesterday, as softer-than-expected economic data reinforced speculation that the Federal Reserve won’t rush to raise interest rates. The Dow Jones Industrial Average gained 61.78 points, or 0.4 per cent, to 16,713.58.The S&P 500 closed up 8.46 points, or 0.4 per cent, at 1,955.18, with health-care stocks leading the gains. And the [...]
Apple’s iWatch to have tough, sapphire display August 14, 2014 Apple may have learnt its lesson after the fragility of the iPhone screen. According to a report in the Wall Street Journal, the company's new iWatch will feature scratch resistant sapphire on its screen rather than more delicate glass. Sapphire is preferable to glass because it is both harder and more resistant to heat, making it [...]
In Graphs: Spending by visitors to the UK up seven per cent over the past twelve months August 14, 2014 The UK is becoming a more popular place to visit and spend money, apparently. According to data from the Office of National Statistics (ONS) earnings (the amount brought into the economy through visits by overseas residents) have increased by seven per cent in the last 12 months. This rise correlates with a rise in the [...]
Britain prepared to arm Kurds against IS August 14, 2014 Britain could send arms to Kurdish fighter in Iraq to help in the fight against the Islamic State (IS). According to a report in the Guardian both David Cameron and Nick Clegg have agreed to send weapons directly to the Kurds and will announce the intention to EU leaders on Friday. France has already indicated its [...]
Rosneft: Russia’s largest oil company calls for $42bn in state aid as sanctions bite August 14, 2014 Rosneft, Russia's largest oil company, has been forced to request $42bn in government money to see it through the current raft of western sanctions. Igor Sechin, chief executive of Rosneft, has asked for help through the purchase of bonds, with the National Wellbeing Fund mooted to as a possible buyer. The fund is usually used [...]
The government won’t sell Lloyds shares before the next election August 14, 2014 There will be no sale of the taxpayer's Lloyds shares before the next election. George Osborne has indicated that there will be no sale of share to the general public between now and next May, which is unsurprising given the recent performance of Lloyds' shares. The government would deal itself a significant political blow if [...]
London house prices: Housing market cools in capital with July sales drop and slower growth forecast August 14, 2014 London house sales dropped last month as the market cooled, calming fears of a housing bubble in the capital- a trend that’s expected to continue over the next 12 months. The data from the Royal Institution of Chartered Surveyors suggest the market is “going into reverse”, as sales fell for the third month in a [...]