Carney hunting risky investors and brokerages January 8, 2014 INVESTMENT funds and broker-dealers are next in line for tougher regulations, a global group of watchdogs said yesterday. The Financial Stability Board (FSB), headed by Bank of England governor Mark Carney, has already sought out global systemically important financial institutions (G-SIFIs) in the banking and insurance sectors. Now it wants to find the riskiest firms [...]
Interserve confirms 2013 guidance January 8, 2014 FTSE 250-listed support services and construction group Interserve yesterday reiterated its full-year guidance and said it continues to invest for growth, both in existing and new business streams. “The group has continued to perform well and in-line with expectations, maintaining good revenue visibility in 2014,” said Interserve in a statement. The UK-based company posted gross [...]
Mears replaces corporate brokers January 8, 2014 Mears, the social housing support services group, yesterday said it has hired Liberum and Peel Hunt as its joint corporate brokers, replacing Investec and Canaccord. Steve Pearce and Steve Tredget will be leading the Liberum team, while Justin Jones and Mike Bell are key players on the Peel Hunt team. Mears sold its specialist mechanical [...]
Dialight loses lustre after warning January 8, 2014 Shares in the LED lighting business Dialight plunged by 17 per cent to 700p yesterday after the firm warned its full-year profits would be lower than expected. Despite industrial lighting sales rising by 50 per cent in the last year, Dialight has more than halved its cashflow at £7m and now expects profit before tax [...]
Our panel votes to hold rates as economy firms January 8, 2014 AS 2014 gets underway, our shadow monetary policy committee votes to keep interest rates and QE unchanged in January. Two members voted for a rate hike again this month, as official statistics responses to business surveys continue to reinforce the view that the UK economic recovery was strengthening as 2013 rolled to an end. Most [...]
City Moves for 9 January 2014 | Who’s switching jobs January 8, 2014 YFM Equity Partners The private equity firm has announced the appointment of Paul Cook as chief operating officer. Cook was previously managing director of Access IS, and has also held roles at KPMG, PwC, Sonatest, American Standard and William Baird. BNP Paribas The bank has appointed Gildas Surry as senior credit analyst for European banks. Surry has [...]
Best of the Brokers for 9 January 2014 January 8, 2014 AVEVA Strong engineering results have earned Aveva an upgrade from UBS, which has hiked its rating from “neutral” to “buy” with a target of 2,550p, up from 2,300p. The broker sees relatively high growth rates despite underperformance in the last quarter of 2013 that has kept the share price down. CINEWORLD Numis has reiterated its [...]
London Report: FTSE in negative territory for 2014 as retail stocks fall January 8, 2014 THE top share index fell yesterday, slipping back into negative territory for the year, after concerns about a smoking ban in China knocked back tobacco companies and following a cautious outlook from Sainsbury. The FTSE 100 closed down 33.67 points, or 0.5 per cent, at 6,716.16. It remains pinned in a 70-point trading range this [...]
New York Report: US rally fizzles on Fed minutes January 8, 2014 The S&P 500 finished nearly flat yesterday as equity indexes had a muted reaction to the minutes from the US Federal Reserve’s most recent meeting, while Micron’s strong results helped buoy the Nasdaq. Minutes of the Fed’s December 17-18 meeting, after which the US central bank announced its decision to begin trimming its monthly bond [...]
Osborne’s great British sell-off January 7, 2014 MEMBERS of the public and businesses will today be offered the chance to buy government land and property on the open market, a landmark change designed to raise money for Treasury coffers and free up space to build new homes. The scheme, announced today by chief secretary to the Treasury Danny Alexander, will see a [...]