Man Group swoops for US-based Silvermine Capital in a $70m deal December 17, 2014 Man Group, a London-listed hedge fund manager, will buy Connecticut-based Silvermine Capital Management for $70m (£45m). Man, the world's largest listed hedge fund, will pay $23.5m in cash up front, followed by two cash payments of up to $16.5m after one year, and another potential $30m after five years. Silvermine, a leveraged loan fund with [...]
US President Barack Obama and Cuban President Raul Castro to end trade embargo after 50 years December 17, 2014 US President Barack Obama has just announced the end of the longest-standing trade sanctions in US history, as part of a ground-breaking thaw in relations with Cuba. The two long-time enemies, which sit on the opposite ends of the political spectrum, have agreed to “open economic and travel ties”, the most significant improvement in [...]
Rouble relief as Russian government steps in December 17, 2014 Following days of losses, the rouble strengthened against the dollar this afternoon after Russia's central bank outlined a range of measures to boost the countrys ailing banking sector. Among the measures put forward, the bank said it planned to freeze the valuation of banks' securities portfolios at the previous quarter, abolish caps on the amount [...]
Chancellor George Osborne confirms government will sell more Lloyds shares December 17, 2014 The chancellor has announced the government will sell more shares in Lloyds Banking Group within the next six months. The sale, to be managed by investment bank Morgan Stanley, will help the government raise up to £2bn, UK Financial Investments (UKFI), the body which manages the government's investments, confirmed. Presently it owns around 17.8bn ordinary [...]
Catlin share price soars 10 per cent on £2.5bn takeover approach from XL Group December 17, 2014 Shares in insurer Catlin whizzed up 10 per cent today after the group said it is in talks with XL Group over a possible takeover which would value it at $3.9bn (£2.5bn). XL Group would pay 410 pence per share in cash and 0.130 share for each Catlin shares, the Lloyds of London insurer said [...]
Betting suspended on Queen abdicating during her Christmas broadcast after “unusual” bets placed at Coral December 17, 2014 Bookmakers Coral has suspended betting on whether the Queen will announce her abdication in her Christmas Day broadcast after a number of “unusual” bets were placed today. A spokesman told City A.M a handful of different bets had been made within half an hour of each other – prompting the team to question whether [...]
Nicola Horlick: What effects will the fall of oil prices actually have? December 17, 2014 The precipitous fall in the oil price has resulted in sharp declines in share prices around the world, but the long-term effect of a lower oil price is to reduce the amount of cash in the pockets of oil producers and increase the amount available to consumers to spend. Overall, this is positive for markets [...]
These are the top 25 most employable skills of 2014 (according to LinkedIn) December 17, 2014 What skills got people hired in 2014? LinkedIn has dug through its data for this year and found what gets employers salivating. Soft skills, these are not. The overarching theme is data – the top skill is statistical analysis and data mining. It crops up again at number 11, with data presentation, and then at [...]
Exclusive: Britain’s small businesses are being held back by “digital immaturity” December 17, 2014 Britain's small businesses are missing huge opportunities by failing to adapt adequately to the digital age, according to research published today. The UK's embrace of the American retail tradition of Black Friday has served to highlight how businesses are falling behind their customers. Mobile has become a key part of the consumer experience. On Black [...]
2015 “will be warmest on record” says Met Office December 17, 2014 The year ahead looks likely to be the warmest on record – with data going back to the Victorian era – according to the Met Office. Worldwide, the mean temperature for 2015 should land between 14.52 °C and 14.76 °C, with a central estimate coming in at 14.64 °C. The range is plus or [...]