Buyout firms circle for tool hire company December 14, 2014 A NUMBER of buyout firms are circling over HSS as a bid deadline looms today for the British tool hire firm, it emerged yesterday. HSS’ owner, private equity firm Exponent, is reportedly interested in floating the firm. However, the subdued IPO market of late has convinced the investment specialist to gauge buyer appetite for the [...]
Dim Sum market hits record high, with further growth expected December 14, 2014 THE MARKET for Dim Sum bonds – those denominated in renminbi but issued off the Chinese mainland – hit a record level this year, magic circle law firm Linklaters said yesterday. Total Dim Sum bonds issued in 2014 totalled $85.7bn (£54.5bn), representing a substantial 66 per cent increase on last year. According to Dealogic data, [...]
City Moves for 15 December 2014 | Who’s switching jobs December 14, 2014 Lloyds Theresa Newell has been promoted to managing director and co-head of leveraged credit sales at Lloyds Bank Commercial Bank. Newell joined Lloyds Bank Commercial Banking last year and has over 15 years’ experience in credit products. Previously, she was with RBS and JP Morgan Chase. Canaccord Genuity Wealth Management Andrew Clotworthy has joined the [...]
Santander hires Baroness Vadera as UK chairman December 14, 2014 Baroness Vadera will replace Lord Burns as Santander’s UK chairman in March, the Spanish bank announced on Friday. She will join the board as joint deputy chairman in January, before taking the top post in March. Her appointment marks a complete change at the top of the UK arm of the group. Ex-chief [...]
Best of the Brokers for 15 December 2014 December 14, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com BELLWAY Numis upgraded its rating from “buy” to “add” following an interim statement which, stated the broker, “points to improved volume and margin guidance” and “shows that Bellway’s strong and early level of investment post downturn is feeding through to top-quartile returns”. WEIR [...]
Jobless figures and MPC report at centre stage – London Week Ahead December 14, 2014 BY THE looks of this week’s economic calendar, traders thinking of taking off early for their Christmas holidays may be forced to rethink their travel plans. In the UK the minutes of the Monetary Policy Committee’s (MPC) last meeting will also be scrutinised. However, the report which has the greatest potential to move markets is [...]
Fed meeting might change rate schedule – The week ahead on Wall St December 14, 2014 INVESTORS will focus on a two-day Federal Reserve policy meeting amid speculation the central bankers will change their view on interest rates and the economy. The Federal Open Market Committee (FOMC) meets tomorrow and on Wednesday with a statement and forecasts expected Wednesday at 7pm GMT, followed by Fed chair Janet Yellen’s press conference half [...]
Transport for London to make paying for Boris bikes simpler December 14, 2014 Transport for London (TfL) is hoping to boost the number of bums on bikes by simplifying the payment scheme. Customers who want to use Boris Johnson’s flagship scheme currently have to negotiate eight different pricing categories. But from 2 January onwards, the charges will be set at a flat £2 per 30 minutes [...]
Amazon glitch sparks sales bonanza for 1p items December 14, 2014 Customers cheered after a software glitch meant thousands of items from online retailer Amazon's website were on offer for as little as 1p. The glitch, which happened between 7pm and 8pm on Friday, led to hundreds of toys, clothes and home furnishings being sold off at bargain prices. But small businesses have scolded the glitch which [...]
Anti-Uber taxi protests to be staged in Paris tomorrow December 14, 2014 Parisian cabbies could clog the city's streets tomorrow in a mass protest against a French court's refusal to ban a controversial service offered by taxi app Uber. Three taxi groups have called on cab drivers to block a number of main streets in Paris from 5am tomorrow, according to a report by news service France [...]