FTSE firms set to face investors over pay plans April 28, 2014 A CLUTCH of Britain’s biggest companies will this week face their investors, following bruising protest votes at Barclays, Pearson and AstraZeneca last week. FTSE 100 oil explorer Tullow is under the spotlight on Wednesday for its plans to change share awards for directors. Investor advisory group Pirc has said shareholders should oppose the changes, which [...]
Court cases could mean payouts for delayed airline passengers April 28, 2014 A PAIR of appeals due in the next few weeks could cement new rights for passengers to claim compensation when their flights are delayed. A customer of Thomson Airways is going to the Court of Appeal in the hope of setting a precedent for other passengers who bring a claim more than two years after [...]
Spire looks at float amid buyout talks April 28, 2014 PRIVATE equity firm Cinven is looking at plans to exit its stake in private healthcare provider Spire Healthcare through a flotation of the company, it emerged yesterday. Spire Healthcare, which was bought by Cinven in 2007, was put on the block earlier this year with a valuation of between £1.5bn to £1.7bn. The British investment [...]
City Moves for 28 April 2014 | Who’s switching jobs April 28, 2014 Octopus Investments The fund management company has appointed Alex Miller as chief operating officer. He was most recently at Lloyds Bank, where he was director of strategy and operational performance. Prior to that, Miller held senior roles at BT Group and Orange UK. HSBC The bank has announced the appointment of Ian Stuart as head [...]
Advisers run rule over goggle maker Zoggs April 28, 2014 SWIMMING goggle maker and swimwear retailer Zoggs could be sold after its financial bankers appointed advisers to conduct a strategic review of the business. Zoggs is controlled by The Kendal Group, which is understood to have recruited corporate finance adviser McQueen to look at its options, which could include a sale, mergers or acquisitions.
CME Group launches London market April 28, 2014 Exchanges giant CME Group yesterday launched CME Europe, its new London-based exchange for currency and commodity futures and derivatives. Around half of the global $5.3 trillion global foreign exchange market is traded each day in the UK, CME Group says it hopes to obtain greater access to this market.
Gold production rises at Randgold April 28, 2014 Gold production from Randgold Resources’ Tongon mine in northern Ivory Coast will hit 260,000 ounces this year, up from 233,591 ounces in 2013, the company said. Mark Bristow, CEO, said that if gold prices remained between $1,200 and $1,300 per ounce, the $480m spent on the Tongon mine would be repaid by 2015.
Best of the Brokers for 28 April 2014 April 28, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com DEVELOPMENT SECURITIES Peel Hunt has a “buy” rating and 290p target ahead of the property firm’s full-year results on Wednesday. The broker is forecasting a 2.6 per cent increase in the company’s portfolio, increasing from 0.2 per cent in the first half of [...]
London Report: British economy in fifth straight growth quarter April 27, 2014 BRITAIN’S economy is expected to show its continued return to form this week, with official data likely to show a fifth consecutive quarter of expansion. Figures due from the Office for National Statistics tomorrow are expected to reveal the economy grew by 0.8 per cent in the first quarter, despite worries that February flooding would [...]
Wall St The Week Ahead: Investors want the good oil on energy stocks April 27, 2014 SINCE late February, when investors fell out of love with biotechnology and other high-flying stocks, the market’s fuel has been oil. Energy names have been the best-performing sector in the S&P 500 since February 25 when the selloff in high-growth stocks began. The sector will look to build on recent gains when bellwethers Exxon Mobil, [...]