Shocktober: Seven charts that tell the story of the stock market’s worst month in six years November 6, 2018 | City Talk World stock markets fell 7.4 per cent in October as investors fretted about issues such as US-China trade tensions, European political uncertainty and the end of quantitative easing. The sell-off made it the worst monthly performance for stocks globally in the last six years and it’s the tenth worst in the last decade, as measured by the [...]
The Cryptoassets Taskforce Reports – Missing the Point November 6, 2018 Let me take you back 20 years to 1998 and the days when modems sang to us. In most of the boardrooms around the land those even considering the matter where trying to figure out what use this web thing might be to them, as another smart tech salesperson packed away their gear hopeful of [...]
Ex-CEO returns to troubled stockbroker Cenkos 18 months after he left November 5, 2018 Former chief executive of City stockbroker Cenkos Securities, Jim Durkin, has returned to the company just 18 months after stepping down. Shares were up by two per cent after the announcement that Durkin, who stepped down in May after five years in the role and was replaced by former Bank of England economist Anthony Hotson, [...]
How has the US stock market performed around midterm elections? November 2, 2018 | City Talk After a torrid October for stock markets, there is concern among investors that the US equity market could yet have further to fall, with a combination of macroeconomic factors and political tensions clouding the outlook. The latest political event on the agenda is the US mid term elections, which could define the remainder of Donald [...]
Asset manager Janus Henderson revenue loss driven by performance fee drop November 1, 2018 A decline in UK and European fund performance drove a revenue drop at asset management firm Janus Henderson in the third quarter. Revenue fell from $477.7m (£369.7m) in the second quarter to $468.9 between July and September this year following a dip fees after several large European equity strategies, absolute return products and mutual funds performed [...]
Carpetright remains under pressure as store closures mean like-for-like sales ‘remain negative’ November 1, 2018 Low sales have forced British retailer Carpetright to close 67 stores in the first half of the year, it said today. The FTSE 250 firm closed those that failed to reach sale targets, with six further retail sites expected to shut shop by the end of 2018, the company told investors today. Carpetright did not share sales [...]
£350 for your thoughts: Nutmeg enters financial advice market with budget offering October 31, 2018 Online wealth manager Nutmeg revealed plans today to shake up the financial advice market with a low price fixed-fee model. The advice service, which will be provided over the phone, will offer a free initial consultation, followed by a £350 charge should the customer want recommendations. The move is a shift away from the common so-called [...]
Next shares drop as online shopping boost masks high street malaise October 31, 2018 Clothing and home products retailer Next managed to balance out falling high street sales with its growing online business, its third quarter trading update showed today. Store sales for the quarter were down eight per cent year on year and 6.3 per cent in the year to date compared with 2017. But online sales shot [...]
Proxy adviser Pirc tells shareholders to oppose Go-Ahead’s remuneration policy update October 30, 2018 PROXY adviser Pensions and Investment Research Consultants (Pirc) has recommended that shareholders oppose Thameslink owner Go-Ahead's payment policy over fears that director pay outs could be excessive. Under the proposed changes to the bus and train company’s variable remuneration scheme the “maximum potential opportunity” could be 300 per cent of chief executive David Brown’s base [...]
Coinbase lands fresh valuation at over $8bn October 30, 2018 Cryptocurrency exchange Coinbase today revealed it had raised an additional $300m (£236m) of investment in a series E round led by Tiger Global Management. The move takes the company’s valuation to over $8bn, at a significant leap from its last valuation of $1.6bn last summer. The round was supported by Y Combinator Continuity, Wellington Management, Andreessen [...]