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 [...]
City Moves for 02 June 2014 | Who’s switching jobs June 2, 2014 Keystone Law Robert Harvey has joined the law firm’s dispute resolution team. He is a former partner at Addleshaw Goddard, and has particular experience running commercial litigation and white collar crime investigations for high net worth individuals. Lloyds Bank Lloyds Bank Commercial Banking has appointed David Bee to the newly-created position of managing director, head [...]
Best of the Brokers for 02 June 2014 June 2, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com ASOS N+1 Singer has lowered its target price on the online fashion retailer from 5300p to 4100p but maintained its “hold” rating on the stock. The broker is concerned that the group’s sales growth rate in overseas markets is under threat, and has [...]
London Report: UK data to show economy is on path to recovery June 2, 2014 ECONOMIC indicators out this week are expected to show the UK recovery continuing at a healthy pace. PMI survey data for services, manufacturing and construction are likely to show strong growth throughout May. Blerina Uruci, of Barclays, expects services PMI to hit 60 in May, up from 58.7 and well above the 50 figure which [...]
Wall St The Week Ahead: Jobs data and ECB will sway bonds market June 2, 2014 THE rally in US Treasury bonds surprised many, taking 10-year yields to their lowest levels in 11 months. Jobs data and the European Central Bank meeting next week will determine whether bond prices have further to go. The bond market’s rally is the result of a confluence of factors – falling yields in Europe, extra [...]
How China’s heading towards 1bn drivers May 30, 2014 There are a huge number of drivers in China – about 280m last years, according to its ministry of public security. But Shi Jianhua, deputy secretary-general of the state-backed China Association of Automovile Manufacturers (CAAM), predicts that in the next 10 to 15 years, that bumper number is set to rocket. With an expanding middle [...]
JD Sports chief executive steps down with immediate effect May 30, 2014 The chief executive officer of JD Sports, Barry Bown, will be stepping down from the board of the British retailer with immediate effect. Bown had been with the company since 1984. JD Sports said that with the role of executive chairman having been in place since 2004 and the development of the company's senior management [...]
What you need to know before the US open May 30, 2014 US stock futures moved lower today; the S&P 500 fell back from a winning streak, as investors turn attention to the imminent ECB policy meeting next week. Spending in the US fell for the first time in a year last month, increasing 0.9 per cent after March’s one per cent rise. There’s also the indication [...]