Mobius to raise £200m for emerging markets investment trust September 10, 2018 Veteran emerging markets investor Mark Mobius is raising £200m for a new focused trust, four months after the launch of his asset management firm. Mobius, who retired from Franklin Templeton in May before establishing Mobius Capital Partners, is looking to raise the money for Mobius Investment Trust through an Initial Public Offering (IPO) in October. Read more: Lira and rand hold steady [...]
The City has come a long way since the crash, but we can’t afford to be complacent September 10, 2018 This week marks the tenth anniversary of the collapse of Lehman Brothers – a shock that reverberated around the global financial system, and which will be seared in the memories of many workers across the City. Substantial progress has been made to raise standards across the sector, eradicating the unacceptable practices that led to the [...]
Old Mutual prepares to raise £200m in fund float ahead of name change September 9, 2018 Asset manager Old Mutual Global Investors (OMGI) is preparing to raise £200m by floating a new investment fund aimed at private companies. The company has never previously formed a vehicle aimed at investing in unquoted firms. It is expected to announce the fund, called the Merian Chrysalis Investment Company, this week. Its portfolio is expected to [...]
Aston Martin set to hire experienced businesswoman Penny Hughes to lead £5bn float September 8, 2018 Former Coca-Cola executive and RBS director Penny Hughes has been lined up by Aston Martin to lead its £5bn float on the London Stock Exchange. Hughes, who has also been a director at Vodafone, Wm Morrison and Reuters Group, will become the first female chair of a British car maker, according to Sky News. The [...]
FTSE 100 drops below 7,300 points for first time in five months as pound grows September 7, 2018 The FTSE 100 has dropped below 7,300 points for the first time in nearly five months as the pound continued to grow and global uncertainty caused investors to halt activity. The index dropped to a low of 7,227 points this afternoon before gaining slightly towards 7,270. Markets across Europe have all fallen today but the [...]
Lira and rand steady as emerging markets sell-off slows September 7, 2018 Struggling emerging market currencies the Turkish lira and South African rand have started to make a recovery after weeks of market turmoil. The lira was trading at 6.46 against the US dollar this afternoon while the rand rallied to 15.14 against the dollar after a testing few weeks for emerging market currencies. Read more: Turkey makes [...]
Sterling lifts as Barnier says Brexit can lead to ‘unprecedented’ UK-EU partnership September 7, 2018 Sterling climbed 0.89 per cent against the euro today after the EU’s chief negotiator sounded positive notes about the likelihood of the UK securing a Brexit deal. Michel Barnier said there were positive elements of Prime Minister Theresa May’s Chequers plan, which Brexiteers had previously dismissed as “dead in the water”, as a transcript of [...]
Ten events that could move stock markets in the final quarter of 2018 September 7, 2018 | City Talk As many northern hemisphere investors get their feet back under their desks after the summer break, we look at the key events and themes likely to be on the agenda for September and the fourth quarter of 2018. 1) Global trade negotiations The US and China held fresh, and largely fruitless, trade talks in August. [...]
English whisky maker The Lakes Distillery considers IPO on London’s junior market September 7, 2018 English whisky maker The Lakes Distillery is mulling a listing on London's junior market, it revealed this morning. The company has appointed N+1 Singer as its nominated adviser and broker and convened a meeting to gain shareholder approval later this month. Lakes Distillery, which was founded in 2011, would look to raised up to £15m [...]
US tech firms ask Trump for Chinese tariff exemptions in ongoing trade war September 7, 2018 US tech giants have asked President Donald Trump’s administration for an exemption from new tariffs against China. With President Donald Trump set to reveal a fresh tranche of tariffs targeting $200bn (£154.6bn) of Chinese exports, Cisco, Dell, Hewlett Packard Enterprise and Juniper Networks urged the White House to whitelist components behind some of their products. [...]