Bottom Line: Time is quickly running out for Apple’s Cook to deliver June 2, 2014 JUST days after revealing its $3bn (£1.8bn) takeover of Beats Electronics, Apple chief executive Tim Cook will tonight announce a slew of new software updates that will set the technology giant’s direction for the coming year – but time is running out for Cook to deliver on his promises. Last year the technology giant’s chief [...]
Lloyds to pay for computer systems at TSB June 2, 2014 NEW HIGH street bank TSB will receive up to £450m from parent Lloyds if it decides to build new IT systems in future, under the terms of its listing on the stock market. Currently TSB is renting a copy of Lloyds’ systems, giving it a ready-made and comprehensive capabilities. The arrangement is thought to be [...]
Genel and Petroceltic hope for promotion to premium market June 2, 2014 A PREMIUM listing on the London Stock Exchange could be in closer sight for Kurdistan-focused oil companies Genel and Petroceltic, after oil from the autonomous region was shipped from Turkey into Europe for the first time late last month. City A.M. understands that Genel, which has a standard listing on London’s main market and Petroceltic, [...]
Bashful Basham is in his element June 2, 2014 AS AN ex-City spinner you’d imagine Brian Basham’s passions being along the lines of lunches at The Savoy, Bentleys and well-tailored suits (and goodness knows, they probably are) but the veteran PR has revealed a somewhat more esoteric enthusiasm over the last week – the radioactive chemical element, Thorium. Basham, who as we revealed last [...]
Three things you didn’t know about… June 2, 2014 CEO of Hermes Fund Managers Saker Nusseibeh 1 One of Saker’s ancestors was a warrior chieftain who defended the Prophet Muhammad in the famous battle of Uhud in 625. Consequently, his family have been guardians of the Holy Sepulchre in Jerusalem for centuries. “It’s a crap job. My cousin has it – it just involves [...]
Polo maverick riding out the storm June 2, 2014 As thousands of fans head to Hurlingham for Polo in the Park this weekend, City A.M. chats to its founder, City veteran Daniel Fox-Davies AMONG the sun seekers flocking to Hurlingham Park this weekend for the sixth annual Polo in the Park will be one man with a good reason to smile – the event’s [...]
Barclays enters top 20 biggest broker rankings June 2, 2014 BARCLAYS jumped into the top 20 biggest stockbrokers by client numbers for the first time last quarter, new rankings out today show. The bank’s roster of 43 clients put it in 20th spot on the list, which was headed by JP Cazenove with 218 clients. Second place was taken by Numis with 156 clients, with [...]
Transport for London looks for £3.5bn of commercial revenues June 2, 2014 TRANSPORT for London (TfL) has begun searching for a new sponsor of the city’s bicycle hire scheme, hoping to bring in more money and a long-term partner following Barclays’ departure. The Mayor of London, Boris Johnson, has written to 200 of TfL’s biggest advertisers to gauge interest in sponsoring the bicycles, which were launched on [...]
Severn Trent to generate more green energy June 2, 2014 SEVERN Trent is aiming to generate 30 per cent of its energy needs from renewables by 2015, to help cushion itself from rising power costs. The FTSE 100-quoted utility firm, which supplies water to over 4m customers in the Midlands and parts of Wales, currently generates 24 per cent of its energy from renewables. “Our [...]
West Hill adds firepower to its advisory skills June 2, 2014 WEST Hill, a corporate finance boutique set up by former HSBC banker Andrew Galloway alongside former James Capel analyst Alan Richards, has added a capital raising vehicle for small cap companies to its offering. Galloway says he has set up the new facility because it now gives him the opportunity to help management teams looking [...]