Faroe soars on Norway successes April 10, 2014 Aim-listed oil and gas explorer Faroe Petroleum saw its share price jump over eight per cent yesterday, after unveiling a gas discovery and a successful well test, both in the Norwegian Sea. “Faroe’s exploration successes provide clear vindication of our long-standing strategy to take material stakes in high-impact exploration prospects offering significant value to our [...]
City Moves for 11 April 2014 | Who’s switching jobs April 10, 2014 Saffery Champness The accountancy firm has made two senior appointments. Jamie Cassell (right) joins its business advisory group as a partner. He specialises in advising entrepreneurs and owner-backed businesses. Cassell was previously a partner at Blick Rothenberg and a director at BDO. Niraj Patel has been promoted to partner. He joined in 2000, and was [...]
Best of the Brokers for 11 April 2014 April 10, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com ROYAL MAIL UBS has a “sell” rating and a target price of 450p on the newly-privatised postal firm. The broker is worried about the effects of Ofcom’s investigation into pre-sorted mail contracts, which make up 55 per cent of the UK letter market and [...]
London Report: Fed’s hint on rates steadies FTSE but Marks loses Spark April 10, 2014 BRITAIN’S top share index traded just above flat yesterday, buoyed by the banking sector after the Federal Reserve indicated it would keep interest rates lower for longer than previously anticipated. The FTSE 100 was up just 6.36 points or 0.1 per cent at 6,641.97 at the close, with financial firms contributing about half the gains. [...]
New York Report: Wall St hit by mass sell-off April 10, 2014 THE NASDAQ suffered its biggest drop in two-and-a-half years yesterday after another sharp sell-off in biotech and momentum names, increasing investor anxiety about a broader pullback. The S&P 500 also posted its biggest percentage loss since 3 February, while the Nasdaq has dropped seven per cent from its closing high for the year, set on [...]
Heartbleed Bug: Steps to take April 10, 2014 A flaw with many major websites – the Heartbleed Bug – means that users of those services will need to update their passwords. Sensitive account information and passwords may have been available to some with knowledge of the weakness. That vulnerability was only made public on Monday, and websites are starting to be updated. [...]
BP: From Russia with Love April 10, 2014 Many of the shareholder questions at BP’s annual meeting today were on the topic of Russia, Ukraine and the oil major’s stake in Rosneft. The FTSE 100 firm is particularly exposed to the ongoing tensions between Ukraine and Russia over the sovereignty of Crimea, due to its near 20 per cent stake in the Russian [...]
4 unusual ways businesses are stopping employees from working April 10, 2014 The 35 hour working week, which has become so sacred to the French since its introduction in 1999, has come under threat from the invasion of smartphone working culture. So now a new labour agreement has made it illegal for employers to expect their staff to work after 6pm. The legally-binding agreement between employment federations [...]
Britain is Europe’s booming housing market April 10, 2014 That London’s house prices are booming is hardly a secret – prices shot up by 12 per cent in 2013, according to official figures. But what isn’t as well known is that the boom in London is in fact taking place even within a booming UK. The British market overall might not seem so buoyant. [...]
Why your morning cup of coffee might be getting more expensive April 10, 2014 Expect to pay a little more for your caffeine buzz in coming months. Coffee futures – the prices which traders have agreed to pay for beans in the future – have surged in price, and are at their highest level since February 2012. That suggests that investors expect coffee prices to move higher still after [...]