Singapore Stock Exchange tries to lure more secondary listings October 30, 2014 The Singapore Stock Exchange yesterday made a bid to attract more foreign companies to launch secondary listings on the bourse by easing its rules. The exchange, known as the SGX, will remove its own second layer of regulatory restrictions on companies if they come from one of 22 so-called developed markets, SGX is using a [...]
National Express share price accelerates after passenger rise October 30, 2014 Increasing passenger numbers and lower debt have fuelled a 15 per cent rise in third-quarter pre-tax profits at National Express compared with the same period last year, figures revealed yesterday. The transport group saw growth in both passenger numbers and revenue in every division this year, including its Spanish operation, Alsa, marking a turnaround from [...]
Shipbuilder Hyundai Heavy Industries posts biggest quarterly loss on record October 30, 2014 Hyundai Heavy Industries yesterday posted its worst quarterly loss ever, knocked by huge provisions against delayed projects and a slowdown in the world’s shipbuilding industry. The world’s largest shipbuilder’s net loss ballooned to a record 1.46 trillion won (£863m) for the three months ended 30 September from a loss of 12.5bn won a year earlier, [...]
Lufthansa slashes profit forecast over increase in competition October 30, 2014 GERMAN airline Lufthansa yesterday slashed its profit outlook for 2015 as increased competition and a fall in global growth forecasts took its toll. Europe’s largest airline by revenue reported higher than expected third-quarter results, but said it expected its 2015 operating profit to be only “significantly above” the €1bn (£788m) for 2014, compared with a [...]
Seedrs swoops for US firm ahead of expected market expansion October 30, 2014 SEEDRS, the London-based equity crowdfunding service, says it is planning to expand into the US early next year after acquiring California-based Junction Investments yesterday. The firm, which recently completed its largest ever funding with more than 1,400 investors putting a combined £4m into the publicly-listed English winemaker Chapel Down, said the move would help it [...]
Time Warner Cable subscribers tune out ahead of Comcast deal October 30, 2014 US BROADBAND titan Time Warner Cable lost more video subscribers than analysts had expected in the third quarter as more customers opted for internet streaming services offered by rivals such as Netflix. The second largest US cable TV operator lost a net 184,000 household video customers in the three months to 30 September. The decline [...]
City Moves for 31 October 2014 | Who’s switching jobs October 30, 2014 Berwin Leighton Paisner The law firm has announced the appointment of Elizabeth Bradley as head of corporate tax. She trained at Berwin Leighton Paisner and was made a partner in 2008. Bradley advises on all areas of corporate taxation, with a particular specialism in real estate tax. EY The professional services firm has announced the [...]
Best of the Brokers for 31 October 2014 October 30, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com STANDARD LIFE Deutsche Bank has a “buy” rating on the insurer with a target prices of 445p after it revealed “better-than-expected” asset growth. “We continue to see Standard Life as amongst the best positioned UK life assurers on any longer-term view,” the analysts [...]
FTSE gets a lift after St James’s reports results – London Report October 30, 2014 BRITAIN’S top equity index yesterday staged a late rally to recover from losses earlier in the day, with wealth management group St James’s Place outperforming after strong results. The blue-chip FTSE 100 index had been in negative territory for much of the day. The late recovery enabled the FTSE to close up by 0.2 per [...]
Dow surges after upbeat profit postings – New York Report October 30, 2014 US STOCKS rose yesterday, boosted by a strong reading on quarterly economic growth and by another round of upbeat earnings reports including Visa, which accounted for nearly 140 points in the Dow industrials. The Dow Jones industrial average rose 221.11 points, or 1.3 per cent, to 17,195.42, the S&P 500 gained 12.35 points, or 0.62 [...]