City Moves for 28 November 2014 | Who’s switching jobs November 27, 2014 RPC The law firm has announced the appointment of Anna Cook as a senior litigation partner. She joins from Radiant Law, the technology and outsourcing boutique, where she set up its dispute resolution team in 2012. Cook was also formerly a partner at Wedlake Bell. Kleinwort Benson Andrew Shiels has been appointed global chief risk [...]
Best of the Brokers for 28 November 2014 November 27, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com SAINSBURY’S Stockbroker Shore Capital has downgraded Sainsbury’s from “hold” to “sell”, after the company announced that it expected like-for-like sales to be negative for several years. It added that the much anticipated price/margin reset by Tesco could impact Sainsbury’s negatively. THOMAS COOK Stockbroker [...]
Opec’s decision not to cut production pulls down oil firms – London Report November 27, 2014 THE FTSE closed mixed yesterday, with oil-sensitive blue chips heavy fallers after the Organisation of Petroleum Exporting Countries (Opec) said it would take no action to ease a global supply gut of oil. Their losses were almost offset by gains elsewhere. The FTSE 100 closed down 5.75 points, or 0.09 per cent, to 6723.42. FTSE [...]
Euro shares end higher – European Report November 27, 2014 EUROPEAN shares closed higher yesterday with investors reacting to fresh data from the Eurozone. The Stoxx Europe 600 Index climbed 0.4 per cent to 347.49 at the close of trading. The DAX rose 0.6 per cent, for its longest rally since May 2013, as a report showed the number of people out of work in [...]
UK immigration: David Cameron to call for end to EU migrant tax credits November 27, 2014 David Cameron is to call for measures aimed at making the UK a less attractive option for European Union immigrants, in a move that will see more claims he is imitating UKIP. In a speech on Friday the Prime Minister will say that the UK’s continued membership of the EU is dependent on the UK [...]
Jean-Claude Juncker says he should have changed Luxembourg’s tax laws November 27, 2014 Jean Claude Juncker, the President of the European Commission, has responded to criticisms of Luxembourg’s tax system while he was in government. The former Prime Minister said he wished his government had legislated to to give it more control of tax deals by international companies. He said the tax structure was a way to diversify [...]
Mario Draghi makes case for for economic union November 27, 2014 Mario Draghi has upped the rhetoric and made the strongest statement yet about creating economic union in the single currency zone. Speaking in Helsinki, the European Central Bank (ECB) president said existing powers, under the Stability and Growth Pact, do not go far enough. Draghi wants certain decisions about fiscal reform to be taken [...]
Shell, BP and Petrofac shares close down as Opec decides not to cut oil production November 27, 2014 FTSE 100 oil producers plummeted this afternoon as the Opec group of oil-producing companies, who met today in Vienna, announced its decision not to curb oil production, despite falling prices. Tullow Oil and BG Group were among the biggest fallers, closing down 7.76 per cent and 6.15 per cent respectively, while Petrofac closed down 5.95 per [...]
Andrew Mitchell loses “plebgate” libel case November 27, 2014 Andrew Mitchel probably did use the word “pleb”, according to the High Court judge presiding over the MP’s libel case. The Sun had claimed Mitchell called PC Toby Rowland a “pleb”. Mitchell denied this, taking News Group Newspapers, which owns the Sun, to court. Despite admitting to using profanities, Mitchell, who was the government's chief [...]
Over half of chickens sold by UK supermarkets are contaminated with bacteria, and the problem is worst at Asda November 27, 2014 Most chickens sold by UK supermarkets contain the bacterium campylobacter – the country's biggest cause of food poisoning. An investigation published today by the Food Standards Agency (FSA) revealed that over the last three months, 70 per cent of all fresh chickens sold by the nation's retailers tested positive for the micro-organism, and 18 [...]