Miners weigh down the FTSE for second day – London Report November 11, 2015 The FTSE 100 finished down yesterday as miners continued to suffer losses. The blue-chip index closed the day 0.32 per cent down at 6,275 points. Yesterday’s largest faller was Anglo American, which saw its share price fall 4.54 per cent to 492.22p per share. Glencore also shed 4.24 per cent to close at 105.05p per [...]
Best of the Brokers for 11 November 2015 November 11, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com COMPAGNIE FINANCIERE RICHEMONT RBC Capital Markets has reiterated its “outperform” rating and €90 target price despite the broker reducing its 2016-17 earnings per share forecasts by around five per cent, reflecting a more difficult outlook in the second half of the year [...]
Co-op is the most complained about energy company per 100,000 customers between July and September November 11, 2015 It was Co-op that had the most number of complaints per 100,000 customers between July and September, according to the Energy Ombudsman. The figures show Co-op received 135.92 complaints per 100,000 customers during this period, while Scottish Power came second with 89.2 followed by Npower with 71.39. There were 13,212 energy complaints received during this period, taking the total [...]
Rising rents mean that by 2020 over 25 per cent of consumer spending will be on household and utility bills November 11, 2015 Housing and utility bills will account for over a quarter of total UK consumer spending by 2020. Household expenses is the fastest-growing category of consumer spending, increasing at a rate of 3.5 per cent a year, compared to spending on food, which will drop 0.4 per cent a year by 2020. Higher spending reflects rising rent [...]
Barclays chairman John McFarlane: London risks losing its status as a global financial centre November 11, 2015 The City risks losing its status as the world’s leading financial centre, Barclays chairman John McFarlane will warn in a speech tonight. Speaking at TheCityUK’s annual dinner at Mansion House, McFarlane will say that Britain’s attractiveness as a financial centre is reaching a “tipping point” due to disadvantages in taxation, levies, regulation and infrastructure. “London [...]
Rolls-Royce announces recall of just one of its Ghost models November 10, 2015 Rolls-Royce has become the latest car manufacturer to issue a recall – of one car. The news comes after Volkswagen said it was recalling 8.5m vehicles across Europe and believes 11m cars worldwide contain software used to cheat emissions tests. The car in question is a Rolls-Royce Ghost, which sells for over £200,000, manufactured on [...]
Not lovin’ it: Standard & Poor’s downgrades McDonald’s over debt plans November 10, 2015 Fast food giant McDonald's has been downgraded by ratings agency Standard & Poor's (S&P), after announcing plans to increase debt in order to return $10bn (£6.6bn) of cash to investors by the end of 2016. S&P has lowered the firm's credit rating to BBB+ from A, “since the company's various credit metrics will now be [...]
Support for remaining in the EU at strongest since the start of October, says new ICM poll November 10, 2015 British support for remaining in the EU is at its strongest since the beginning of October, according to a weekly poll published today. ICMs poll showed 46 per cent of people would vote to stay while 38 per cent would vote to leave – the rest said "don't know". The robust support for staying in the EU comes [...]
Small gains on Wall St as rate hike is eyed – New York Report November 10, 2015 Gains in Walt Disney and Amazon.com yesterday were offset by a drop in Apple as investors hunkered down for a potential interest rate hike next month. Still, the Dow Jones industrial average rose 0.16 per cent to finish the day at 17,758.21 points. The Nasdaq Composite dropped 0.24 percent to 5,083.24. Apple’s shares fell 3.15 [...]
AB InBev has until 5pm tomorrow to make a firm offer for SABMiller November 10, 2015 Brewing giant AB InBev is expected to announce tomorrow that it has struck a deal to buy competitor SABMiller and create the world’s biggest brewer after months of negotiations and extended deadlines from regulators. AB InBev is also likely to announce that it is selling SABMiller’s stake in MillerCoors, a US joint venture, to Molson Coors, in order to ease [...]