Blue chip tease: Bankers strip for the Vic April 16, 2014 IT’S THE video they wish we’d never seen. Five top City names took part in a fundraising video for the Young Vic theatre which sees them rip open their shirts and sing at the top of their voices. The clip was made in the summer and screened at a fundraising gala back in October but has [...]
City Moves for 17 April 2014 | Who’s switching jobs April 16, 2014 KPMG David Brown has been appointed a non-life actuarial partner in KPMG’s insurance practice. With almost 20 years’ actuarial experience, he joins from Direct Line Group, and will advise clients in the retail general insurance sector. Brown is also a fellow of the Institute and Faculty of Actuaries. BNP Paribas Investment Partners Cynthia Sweeney Barnes [...]
Share slump for Snoozebox as its losses grow April 16, 2014 SHARES in Snoozebox fell out of bed yesterday after the portable hotel provider said it was raising a further £11m as its annual pre-tax losses doubled. The Aim-listed firm said that while turnover rose 80 per cent to £6.7m and margins improved in 2013, the cost of growing the business had sent losses to £9.4m. [...]
Eagle Eye jumps on float and closes its £4.5m 2ergo takeover April 16, 2014 RETAIL and hospitality voucher firm Eagle Eye Solutions, where former Tesco boss Sir Terry Leahy is an investor and director, saw its shares jump almost 10 per cent to 180p during its first day of trading yesterday. Eagle Eye raised £6m from its oversubscribed placing on London’s Alternative Investment Market, hitting a £36m valuation. “Today’s [...]
Xaar confident of full year target April 16, 2014 Printing technology group Xaar is confident of achieving its full year expectations despite a slight dip in its operating margin compared to last year. The Cambridge-based firm reported more stable profits and sales that were in line with the board’s expectations during the first quarter of 2014 after a profit spike in the first few [...]
Canada sells $1.6bn car part firm April 16, 2014 US car parts company Johnson Controls said yesterday it will acquire Air Distribution Technologies from Canada Pension Plan Investment Board (CPPIB) for $1.6bn (£953m), in a move aimed at expanding its offerings in ventilation products. The transaction comes just days after CPPIB and Canadian private equity firm Onex agreed to sell industrial conglomerate Gates to [...]
Ford Mustang sent to the tower April 16, 2014 Ford Motors will attempt to get its latest model, the 2015 Ford Mustang, up to the top of the Empire State Building in New York today to celebrate the 50th birthday of the model. The publicity stunt is designed to mimic the launch event for the original Ford Mustang, which rolled off the production line [...]
Best of the Brokers for 17 April 2014 April 16, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com EASYJET Investec sticks to its “buy” rating on the budget airline and has a target of 1,800p ahead of first-half results on 13 May. The broker reckons EasyJet has more scope to expand its market and increase ancillary revenues with allocated seating, and [...]
London Report: China data and bullish retailers drive FTSE rally April 16, 2014 THE UK’S benchmark stock index rose yesterday after Chinese economic data came in a touch above forecasts, with Tesco rising on aggressive strategy plans and Sports Direct surging on a bullish note about the company. The sportswear retailer surged 5.6 per cent to the lead FTSE 100 gainers. Traders cited a note from Bank of [...]
New York Report: Yellen’s pledge to keep rates low lifts Wall St April 16, 2014 US stocks rose one per cent yesterday, advancing for a third straight session as Federal Reserve Chair Janet Yellen reaffirmed the central bank’s commitment to keeping interest rates low and Yahoo rallied. Data showing Chinese economic growth exceeded expectations and US industrial production rose for a second straight month also improved sentiment, though Bank of [...]