Fizz goes out of SodaStream’s revenues October 7, 2014 SodaStream International, the Israeli fizzy drinks machine maker, yesterday warned its estimated third-quarter revenue would be below market expectations. SodaStream was in the news in January when movie star Scarlett Johansson (pictured), its public face, drew fire for working with a firm whose largest factory is in an Israeli settlement in the occupied West Bank.
City Moves for 8 October 2014 | Who’s switching jobs October 7, 2014 Carmignac Group Obe Ejikeme has been appointed quantitative equity analyst in the asset manager’s fund management team. He was previously head of European equity and quantitative strategy at Bank of America Merrill Lynch, and has also worked at FactSet Research Systems. Old Mutual Global Investors The asset management firm has announced the appointment of Ian [...]
Best of the Brokers for 8 October 2014 October 7, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com BAE SYSTEMS Cantor Fitzgerald downgraded BAE Systems to “hold” from “buy”, although the broker said that despite increasing geopolitical risks and operational requirements, it felt that the defence company was “entering a period of relative calm”. It retained a target price of 460p. [...]
Fears over Ebola contagion puts airlines in a spin – London Report October 7, 2014 BRITAIN’S top share index fell back yesterday, with travel and leisure companies hit by concerns that the spread of Ebola outside Africa could hurt air travel and the tourism business. Sentiment was also hit by a set of poor data, including an unexpected four per cent month-on-month drop in German industrial production in August. Analysts had [...]
IMF data pulls Dow down by 270 points – New York Report October 7, 2014 WALL Street yesterday ended sharply lower, with major indexes dipping more than 1.5 per cent in heavy trading, as weak data out of Germany raised concerns about the strength of global growth ahead of the start of earnings season. The International Monetary Fund cut its global economic growth forecasts for the third time this year, suggesting [...]
Twitter sues US government for the right to release surveillance information October 7, 2014 Twitter is taking on the US government. The social media giant has filed a lawsuit against the FBI and the Department of Justice for restrictions preventing it from revealing the extent of US government surveillance of the site. Twitter argues the prohibitions are “unconstitutional” and deny its users a sufficient level of transparency. [...]
Coca-Cola share price hits 16 year high as US stocks get crushed October 7, 2014 The Coca-Cola company’s share price has risen to its highest level in 16 years, defying the broader downturn seen in US markets today. Coca-Cola shares rose to a price of $44.11 at around 12:50 in New York, narrowly falling short of the company’s all time high of $44.44 reached on 15 July 1998. [...]
Wonga advert banned for failing to accurately show interest rate on payday loans October 7, 2014 Yet another Wonga advert has been banned from British screens for failing to show the true cost of borrowing. After a week in which the controversial payday lender reported a 51pc drop in net profit and decided to to write off the debts of 330,000 customers, the Advertising Standards Authority (ASA) has hit Wonga [...]
Former Manchester United chief exec David Gill nominated for Fifa vice-presidency role October 7, 2014 David Gill, the former chief executive of Manchester United, has been nominated by the FA for a vice-presidency role on Fifa’s executive committee. The FA vice-chairman claims he could be a “driving force” for reform if elected to the committee. In the past Gill has publicly called upon Fifa president Sepp Blatter to step [...]
Britain’s last tobacco factory to close as JTI shuts Ballymena plant in County Antrim October 7, 2014 Britain's last tobacco factory is set to shut its doors permanently with the loss of around 900 jobs. The Ballymena plant in County Antrim, Northern Ireland, is a major employer in the area. Japan Tobacco International (JTI) announced proposals today to restructure several of its European facilities, citing a tough economic environment and strict EU [...]