Roaring UK stock markets help Liontrust to decade-best start April 7, 2014 CITY fund manager Liontrust Asset Management had its best start to the year for a decade this year after investors poured an extra £160m into UK funds in the first three months. Liontrust, which celebrates its 20th anniversary this year, said total assets under management rose nearly 20 per cent compared to a year ago [...]
Barclays sells off its Emirates retail banking arm for £107m April 7, 2014 BARCLAYS yesterday confirmed the sale of its United Arab Emirates retail arm for £107m. The bank sold the business to Abu Dhabi Islamic Bank (ADIB) as part of its plans to focus on international markets where it believes Barclays has a comparative advantage. Barclays boss Antony Jenkins announced the result of its strategic review back in [...]
City types swap offers for opera at glitzy awards April 7, 2014 “I LEFT my glasses in the taxi on the way here,” said Sanlam Private Investors’ UK boss Craig Massey, as he stepped towards the autocue at the International Opera Awards (which his company sponsors) last night. “But I’ll try avoid the faux pas I made last year – like mentioning Maria Callas and Katherine Jenkins [...]
City A.M. reader selfies good enough to eat April 7, 2014 EVERYONE loves a selfie and City A.M. readers are no different. These three are the lucky winners of our competition with Eat, each winning a week of free breakfasts. You can have a go too – turn to the back of the paper now and send us a selfie using #mademymorning for a chance to [...]
Lobby lunch: Grant Shapps cuts off his upper crust April 7, 2014 GRANT Shapps raised a few more eyebrows yesterday – and not by retweeting his controversial beer and bingo message. Having invited a group of hacks to a regional lobby lunch, the Tory chair showed his tastes are very much in line with the working classes. While the attending journalists were sat in front of an [...]
Energy switching to small firms hits new high as complaints rise April 7, 2014 THE NUMBER of customers switching their energy supplier rose by seven per cent in March, with the percentage of switches to a smaller firm hitting a record high of 43 per cent. Industry body Energy UK said that its data, compiled by Electralink, showed that there is greater choice for customers. The big six suppliers [...]
Good Energy’s profits double as its customer base rises sharply April 7, 2014 GOOD Energy, the Aim-quoted renewable energy firm, yesterday reported a 136 per cent rise in full-year profits to £3.3m, as more customers switch from the big six. Good Energy’s electricity customer base went up 25 per cent to 40,000, while its number of gas accounts jumped by 76 per cent to 15,000. “Our rapid customer [...]
Pawn shop H&T makes bid for bankrupt rival April 7, 2014 PAWNBROKER H&T Group yesterday revealed it is bidding to buy assets belonging to its bankrupt rival Albemarle & Bond, after it emerged nine other outfits had bid for the firm. Albemarle & Bond went bust last month after its shares fell 97 per cent due to a decline in the gold price and its overstretched [...]
The Co-operative Group strikes deal to turn 54 pubs into shops April 7, 2014 THE CO-OPERATIVE Group has signed a deal to open 54 convenience stores on sites formerly occupied by Marston’s pubs. Property group NewRiver Retail, which bought 200 pubs in total from Marston’s last year for £90m, will lease the sites to the Co-op over the two years through a phased development programme. The deal will create [...]
Shale gas explorer Dart Energy plans to float on London’s Aim April 7, 2014 DART Energy, one of the few companies that currently has licences to explore for shale gas in the UK, is planning to float on London’s Aim next month. The firm, which is already listed on the Australian Securities Exchange, expects to be admitted to Aim on 12 May, as it looks to broaden its investor [...]