Aldermore in US search for funds October 9, 2014 CHALLENGER bank Aldermore, which is trying to raise around £75m in a stock market flotation, is in New York making a last-ditch attempt to raise the funds. Advisers to the bank had hoped to have covered their books in London earlier this week but failed to get enough solid support. The bank has come to [...]
Lord Hill receives Kamall boost October 9, 2014 A LEADING London MEP last night gave his backing to the newly-appointed EU commissioner for financial services, Lord Hill. Syed Kamall MEP told City A.M.: “Lord Hill understands and wants to listen to the City while addressing the excesses of previous years. He will find it tough in Europe initially, but he will serve all 28 [...]
Ebola outbreak: Passengers entering UK will be screened at border October 9, 2014 Passengers entering the UK from Liberia, Sierra Leone and Guinea, all countries at high risk of Ebola, would be screened at the border, the government announced yesterday. The news came as a number of new suspected cases emerged outside west Africa, including a nurse in Australia and a British man in Macedonia. UPDATE: [...]
Exclusive: Barclays recruits staff to complement digital growth October 9, 2014 Barclays is hiring more staff to advise small businesses and exporters, in a change to its plan to automate every service possible, City A.M. has learned. Chief executive Antony Jenkins is pushing to use cutting-edge technology wherever possible to automate processes and cut down on the need to retain an enormous workforce. But the bank [...]
London Stock Exchange in China to drum up new listings interest October 9, 2014 The London Stock Exchange yesterday fronted a new issues conference in Beijing to try to encourage Chinese firms to list in London. The Lord Mayor of the City of London, Fiona Woolf, is leading a City delegation across China this weekend and spoke at the event, which was co-hosted by the China-Britain Business Council. The [...]
Carswell is Ukip’s first elected MP October 9, 2014 Ukip members were last night jubilant but playing down poll predictions of a 30 per cent victory margin for Douglas Carswell in the Clacton by-election. The election was triggered in August when Carswell defected to Ukip and stood down from his Westminster seat.
N Brown warns on profits after Indian Summer October 9, 2014 SHARES in N Brown slumped 13 per cent yesterday after the company was forced to cut its full-year profit forecast just three weeks after saying it was on track to meet expectations. Chief executive Angela Spindler said the company, which targets older and plus-sized shoppers with brands such as Jacamo and Simply Be, had been [...]
Angela Spindler: It’s been a year of heavy lifting October 9, 2014 “It has been a year of heavy lifting,” N Brown’s chief executive Angela Spindler explained yesterday as she sought to allay fears over the retailer’s shock profit warning. Since joining N Brown in July last year, the former Asda director and Original Factory Shop boss has been busy hauling the business into the digital age [...]
Analyst Views: What was your reaction to N Brown’s profit warning? October 9, 2014 JOHN STEVENSON | PEEL HUNT When I look at N Brown the strategy is right. But my concern is we are three weeks on from the second-quarter trading update when they were happy to commit to a 10 per cent profit rise and now we’re looking at a 15 per cent drop… The strategy day [...]
Royal Mail share price wavers as £18m deal over French fine is struck October 9, 2014 Royal Mail revealed yesterday that it had set aside £18m to pay an out-of-court settlement with French competition authorities over an alleged breach of antitrust rules in the country. The £18m pot set aside is split into £12m for the fine and £6m to tackle legal costs associated with the case, which is still under [...]