Focus On Aldgate: The shiny new towers of E1 are luring City bankers from their traditional west London hangouts January 19, 2018 Whitechapel or Aldgate? Whatever you call this area on the cusp of the City, it’s always been a dividing line between the bankers and proper East Enders. But that line is getting thinner and thinner every day. Skyscrapers now pierce the eastern sky from every angle, and the amount of development undergone in recent years [...]
Bitcoin regulation: The US SEC has “significant” concerns about bitcoin ETFs January 19, 2018 The US Securities and Exchange Commission (SEC) has seen growing interest for exchange-traded funds (ETFs) that hold value in cryptocurrencies, but the regulator has warned it there are “significant” investor protection issues that need to be looked at before such funds are offered to retail investors. In a letter, the SEC’s investment management division director, [...]
City of London Corporation chief says there will be fewer Brexit job moves for financial services than first thought January 19, 2018 The City of London Corporation’s policy chair has said the booming financial services industry looks set to lose considerably fewer jobs due to Brexit than originally thought. In an interview with Reuters, Catherine McGuinness said the forecast had perked up in the wake of an agreement between Britain and the European Union on the principle [...]
Oh crumbs: Shrinkflation hits Digestives as McVitie’s reduces pack size | City A.M. January 19, 2018 Packs of McVitie’s Digestives will become 20 per cent smaller by the end of this month. Responding to higher ingredients costs, Pladis, the Turkish owner of the biscuit brand will cut the pack size from 500g to 400g, with the first shrunken products appearing on the shelves at the end of January. “The rising cost [...]
Fever-Tree shares up again after rumours of a Unilver bid and positive analyst coverage January 19, 2018 Shares in mixer maker Fever-Tree briefly rose 18 per cent this morning on the back of takeover rumours and positive coverage from City analysts. Murmurings of a takeover plot by Unilever have appeared this week, though there was no indication there was an offer on the table. But the main share price driver today appeared [...]
US poised to overtake Saudi Arabia and Russia as top oil producer in 2018 amid “rapid” growth in output January 19, 2018 US oil production is set to grow faster than previously expected amid a “volatile” year in 2018, the International Energy Agency (IEA) said today as it revised its figures. The Paris-based agency raised its forecast for 2018 crude oil growth in the US from 870,000 barrels per day (bpd) to 1.1m bpd and said the [...]
Carillion rival Laing O’Rourke is late filing its figures, is it another major contractor we should be concerned about? | City A.M. January 19, 2018 Pinning down the finances of private companies can be a tricky task for City stakeholders. Public companies, however, are mandated to keep investors and other interested parties entertained with a steady stream of financial updates. When it comes to filing financial statements – the audited figures upon which financiers hang their hats – listed firms [...]
Dignity funeral provider’s shares down over 50 per cent after pricing change January 19, 2018 Shares in funeral provider Dignity plummeted this morning after the group said it would slash prices. Dignity’s management said the change in pricing would mean results for 2018 fall short of market expectations. Shares in the company were down 53 per cent in morning trading to 900p. Standard funerals will be 25 per cent cheaper [...]
Music for the soul: How you can beat the January blues January 19, 2018 Ah, January. The month many claim to be the most depressing of the entire year, and which has the single most depressing day in its midst – Blue Monday, a day you’re probably glad to have seen the back of. Created by Cardiff University Professor, Dr Cliff Arnall, the date of Blue Monday is calculated [...]
Brent crude and West Texas Intermediate (WTI) oil price: Rising US output sends dampens prices January 19, 2018 Oil prices are down by more than one per cent today as investors fear increased production in the US will overshadow the Organisation of the Petroleum Exporting Countries’ (Opec) efforts to reduce the global supply glut. Brent crude futures were down from a 2014 high by 1.07 per cent at $68.57 a barrel while West [...]