What you need to know before the US open April 22, 2014 Futures have stayed flat in the US, despite the pharma-driven gains seen this side of the pond and Netflix jumping on its earnings report. The Ukraine crisis continues to trim investor risk sentiment, and the euro’s dipped to a two-week low against the dollar, ahead of manufacturing data from France and Germany later this week. [...]
Down with property – lending to the real economy is coming back April 22, 2014 The crunch in business lending could be over at last, Bank of England figures show today, with non-real estate firms leading the way. British firms borrowed an extra £100m in February – small in the grand scheme of things, but a positive result. Net lending is down 2.1 per cent on the year and 0.5 [...]
Here’s why Goldman Sachs think the US is on the verge of a beer renaissance April 22, 2014 The US could be on the cusp of a beer renaissance, according to leading investment bank Goldman Sachs. An improving employment market combined with improved innovation and marketing, could see US beer volumes enjoy a substantial recovery. Over the past 15 years, wine and spirits have been making most of the running when it comes [...]
What does GSK’s “transformational deal” mean for the rest of the sector? April 22, 2014 It looks like pharma M&A frenzy may have returned, with the slew of activity over the Easter weekend buoying European markets as big players see substantial gains. A $16bn (£9.5bn) three-part tie-up between GlaxoSmithKline (GSK) and Novartis will see the former buy the latter’s oncology unit, along with the setting up of a global consumer [...]
Win tickets to Chesterton Humberts Polo in the Park April 22, 2014 POLO fans would do well to get themselves down to West Brompton or Barons Court tube stations this morning, or indeed hang about in Fulham and Chelsea for the day, because there’s an opportunity to bag tickets to Chesterton Humberts Polo in the Park’s Chukka Friday and a cheeky bottle of champagne. Look out for the Chesterton [...]
Here’s how the City’s top analysts think an AstraZeneca-Pfizer deal could play out April 22, 2014 Fresh talk of a bid by pharma giant Pfizer for UK rival AstraZeneca has seen shares in the target company jump. Investors are getting excited about a potential second move for AstraZeneca, with stock currently up 6.8 per cent on the FTSE 100, at more than 4,030p. That increase dwarfs the FTSE 100's overall rise [...]
The Card Factory set to join host of UK IPOs April 22, 2014 The Card Factory has announced it will proceed with plans for an initial public offering (IPO), joining a host of UK retailers to list on the London Stock Exchange in recent months. The IPO will comprise of an offer of new and existing shares to institutional investors. The company has also announced that former Travis [...]
What you need to know before the open April 22, 2014 A higher open for European markets is expected this morning, following the S&P 500 posting its best winning streak so far this year. With markets over here closed yesterday, it finished higher for the fifth day in a row. Investor focus will likely be on the latest earnings reports from companies both sides of the [...]
Shaftesbury announces £135m loan with Canada Life Investments April 22, 2014 West end landlord Shaftesbury has announced a £135m 15-year loan with Canada Life Investments (CLI) and completion of refinancing with Lloyds Banking Group. The loan is set to be repayable in full maturity in May 2029, and has been secured on properties held in a subsidiary company. The deal will have a fixed interest rate [...]
Novartis and GSK agree $16bn oncology deal April 22, 2014 Another pharmaceutical deal this morning. Swiss drug maker Novartis has announced that it’s doing an exchange of certain assets with GlaxoSmithKline (GSK), as part of its company overhaul. It’ll buy the latter’s oncology unit for $14.5bn (£8.6bn), with up to $1.5bn also being paid to reach an agreed development milestone. The deal will also see [...]