Here’s how Goldman Sachs wants to hang on to its millennial workers November 6, 2015 Goldman Sachs isn't known as the doting type – but it seems the investment banking giant has found a new, more maternal streak, after it outlined a series of measures to ensure its millennial workers go elsewhere. The bank has unveiled a range of initiatives to ensure its youngest employees aren't tempted to leave the [...]
UK trade deficit narrows in September, beating expectations November 6, 2015 What with all the shmoozing David Cameron, George Osborne et al have been doing with various prospective trade partners in recent weeks, this should raise a smile on Downing Street: the UK's trade deficit narrowed by £1.6bn between August and September. Figures by the Office for National Statistics suggested the trade deficit on goods fell to [...]
UK industrial production edges up in second quarter – but manufacturing falls November 6, 2015 Shrugs all round as new figures showed the UK's industrial output edged up just 0.2 per cent between the second and third quarters – although the outlook was rather less encouraging for the manufacturing sector. Figures from the Office for National Statistics suggested the sector – which makes up the biggest component of industrial production – [...]
London house prices: Queues around the block as 215 flats at bargain basement prices at Trinity Square in Hounslow sell out in three hours, netting £60m of sales November 6, 2015 Yet another sign of the hysteria surrounding London's housing market: 215 flats at a residential development in Hounslow sold out in just three hours on Thursday night, as hundreds of people clamoured to get their hands on one of the homes. Developer Galliard said it made sales of £20m per hour between 5pm and 8pm [...]
Lonmin’s share price is tanking after platinum miner warns shareholders to approve $400m rights issue or face company closure November 6, 2015 Lonmin shares are down 14 per cent this morning, and more than 33 per cent since the start of the week, after warning that it would need to tap shareholders for $400m to help refinance or face the possibility of closure. The business warned that it would have to stomach a $2bn writedown as low platinum prices [...]
TalkTalk hack: Share price bounces as telecoms giant lowers estimate of number of customers affected to less than 157,000 November 6, 2015 TalkTalk shares rose six per cent to 234p in the first minutes of trading this morning, after it lowered its estimate of the number of people affected by last month's hack to less than 157,000 people. In conjunction with the police, the telecoms giant said it now believed just 15,656 bank account numbers and sort codes were [...]
International Airlines Group passenger numbers jump as British Airways names Alex Cruz new boss November 6, 2015 International Airlines Group (IAG) said this morning passenger numbers jumped 16.6 per cent in October this year – as it named the new boss of British Airways. On a pro-forma basis, that increase was 7.6 per cent. Meanwhile, group capacity measured in available seat kilometres rose 13.2 per cent – up 4.3 per cent on [...]
Marks and Spencer, Randgold Resources, Partnership Assurance: Best of the Brokers for 6 November 2015 November 6, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com MARKS AND SPENCER Canaccord Genuity has changed its rating for Marks & Spencer to “hold” with a target price of 570p, after it was briefly “under review” and previously “speculative buy” at 550p. M&S released interim results on Wednesday that the broker thought [...]
FTSE 100 falls after interest rates are left on hold – London Report November 6, 2015 The Bank of England’s (BoE) decision to keep interest rates at record lows for the 80th month wasn’t able to prevent the FTSE closing down last night, finishing with a loss of 0.8 per cent at 6,364.9 points. The FTSE had been trading in negative territory throughout the morning ahead the BoE’s announcement but rallied [...]
Sterling falls off a cliff as Bank of England keeps interest rate hike at bay November 6, 2015 Mark Carney’s Bank of England pushed sterling off a cliff yesterday by suggesting that interest rates could stay anchored to their historic low until 2017. Having said earlier in the year that a rate hike could come towards the end of 2015 or start of 2016, the Bank’s governor appears to be diverging from the position [...]