Best of the Brokers for 13 March 2014 March 12, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com M&C SAATCHI Numis keeps an “add” rating on the advertising group and has a target of 369p ahead of final results on 20 March. The broker thinks the firm will post £18.5m in pre-tax profit and six per cent organic growth, offset by [...]
London Report: G4S tagging woes drag FTSE down to a one-month low March 12, 2014 THE UK’S top share index fell to a one-month low yesterday, led down by G4S after the security firm agreed a settlement with the government over an offenders’ tagging scandal. G4S sank 5.3 per cent in brisk trade after agreeing to repay £108.9m to the British government after overcharging it on a contract to tag [...]
New York Report: Wall St shrugs off China data March 12, 2014 US stocks finished little changed yesterday, with the Nasdaq up for the first session in five, as investors grappled with the evolving situation in Ukraine but shrugged off concern over weakness in China’s economy. The Dow Jones industrial average fell 11.17 points or 0.07 per cent, to 16,340.08, the S&P 500 gained 0.57 points or [...]
Here’s why plunging Herbalife shares have been halted March 12, 2014 Shares in nutritional supplement company Herbalife have resumed trading some 13 per cent lower, after being halted. They were halted after the US company received a Civil Investigative Demand (CID) from the Federal Trade Commission (FTC). Before that halt they were trading up by 4.5 per cent. The company has said that it "welcomes the [...]
French billionaire brings electric car sharing to London March 12, 2014 Londoners will from next year be able to hire an electric car for 15 minutes at a time, along the lines of the Boris Bike scheme, under plans unveiled by French industrialist Vincent Bollore today. Bollore, the company that will take over the existing Source London network of 1,500 electric charging points from TfL and [...]
EU parliament makes progress on open immigration March 12, 2014 European commissioner Laszlo Andor has welcomed the European parliament's adoption of a series of measures that were proposed by the commission in April, intended to make it easier for EU citizens to exercise the right to work in other member states. The decision comes a little over a month after fresh evidence emerged showing that [...]
Don’t believe Osborne – his taxes are making the UK less competitive March 12, 2014 Higher income taxes risk driving businesses away, tax firm Baker Tilly warned today, reversing the gains made by cutting corporation taxes. Tax partner George Bull fears George Osborne and Ed Miliband are both threatening Britain’s competitiveness by targeting high earners relentlessly. Britain’s headline corporation tax has dived from 30 per cent a decade ago to [...]
The 236 skyscrapers coming to London March 12, 2014 London’s skyline is set to change dramatically over the next decade. According to a report out today, over 236 towers over 20 storeys are being proposed, approved or under construction – more than double the number of high-rise buildings estimated to be in capital today. Traditionally a low-rise city, London’s skyscrapers have, until now, been [...]
Video: Building collapses after New York explosion March 12, 2014 New York media sources report that emergency services have responded to a possible explosion and building collapse on East 114 Street. That's been confirmed by FDNY on Twitter. Their social media profile confirms that FDNY has 39 units and 168 members responding. The building in question is apparently a six story apartment building, located in [...]
Britain is beating France, Germany, Italy and Spain in these 5 key tech metrics March 12, 2014 Britain has marched ahead of its European tech rivals with its internet connectivity with the lowest number of non-internet users and the highest take up of broadband, according to Ofcom’s European Broadband Scorecard. 1. Lowest proportion of people who have never used the internet, at just eight per centA drop from the 11 per cent [...]