Week ahead: Investors look to economic data as G7 leaders meet May 22, 2016 Market movements this week will be heavily influenced by both the meeting of the group of seven world leaders in Japan and a flood of economic data throughout the week. After a strong finish on Friday, with the FTSE 100 closing up 102.97 points to end the week at 6,156.32, investors will be looking for [...]
Brexit: If the pound weakens, is it such a bad thing? May 22, 2016 Sterling has been swinging as the threat of a potential British exit from the EU looms large. The pound has fallen by eight per cent against the dollar in the last year. It reached a two- and-a-half year low in April, as international investors sold out of sterling assets. The pound then rose last week as [...]
Greek parliament approves bailout reforms May 22, 2016 Greece’s parliament just approved a controversial bill of bailout reforms, ahead of a vital Europgroup meeting on Tuesday. The bill is likely to include the last chunk of a €5.4bn ($6.06bn) austerity package which Greece will implement by 2018. The much-needed bill increases tax, creates a new privatisation fund and frees up the sale of non-performing loans in exchange for bailout loans [...]
IP-O2: Mobile operator strongly considering stock market float May 22, 2016 O2 is strongly considering a stock market flotation, City A.M. understands. An initial public offering (IPO) is one of a number of options being looked at by the mobile operator following its failed merger with Three. However private equity firms are understood to be planning bids for O2, owned by Spanish company Telefonica, which could be [...]
London set for IPO market recovery after referendum… but it may have to wait until the autumn May 22, 2016 The UK’s flagging flotation market is expected to recover from a slow start to 2016 – but not until the autumn. Activity on London’s initial public offering (IPO) market has dropped significantly on 2015 levels, with uncertainty around the upcoming EU referendum widely cited as being one reason for the slowdown. The state of the [...]
It’s only Logicor: Private equity firm encouraged to float warehouse company in London May 22, 2016 The private equity owner of a commercial landlord giant is being encouraged by banks to float the business in London. City A.M. understands Blackstone has yet to decide whether to make an initial public offering (IPO) on Logicor, the owner of 600 warehouses. The flotation, which would be expected to value the company at more [...]
Now NHS boss speaks out on Brexit risks May 22, 2016 "When the British economy sneezes, the NHS catches a cold," was the stark warning as the boss of the NHS waded into the Brexit debate on Sunday morning. The chief executive of the National Health Service Simon Stevens was appearing on the BBC's Andrew Marr show to discuss its financial problems after new figures last week revealed [...]
Britain will lose brightest grads in Brexit, study claims May 22, 2016 Britain will miss out on some of the best and brightest graduates if the country votes to leave Europe, new research claims. While graduates from the EU make up just a small proportion overall of those who have studied at undergraduate level, they are more likely to achieve first class degrees and earn higher salaries, making up [...]
Prices will go up: Retail bosses issue Brexit “catastrophe” warning May 22, 2016 Retail heavyweights have come out against Brexit, warning that leaving the European Union would be a "catastrophe" for Britain and a "massive shock to the system". The former bosses of four of Britain's biggest retailers – Tesco, Sainsbury's, M&S and B&Q – have warned Brexit will cause prices to rocket, a spike in inflation, job losses and the pound [...]
Canada’s oil heartland has some evacuation orders lifted May 21, 2016 Evacuation orders have been lifted on two oil sites in Canada's wildfire-ravaged energy heartland, as a spell of cold weather and rain helped to tame the flames. Authorities in the oil town of Fort McMurray in Alberta lifted the lifted the mandatory evacuation orders on Suncor Energy's base plant and Syncrude's Mildred Lake facility, as well as nearby camps [...]