Ferrari IPO exuberance leaves sanity in the dust – CNBC Comment October 27, 2015 What do Ferrari, Lamborghini, Porsche, Bugatti and Rolls Royce have in common? Well they are all top end luxury motors with eye-watering list prices, so the answer is, I guess, lots. And yet in terms of the value the stock market is placing on them, Ferrari is priced, well, like a Ferrari, while the rest [...]
Currency wars will continue: Europe and Japan are gearing up for stimulus, and some investors are betting their currencies will fall October 27, 2015 Currency wars are still underway as both the European Central Bank (ECB) and Bank of Japan prepare new rounds of QE which could weaken their currencies, experts say. Last week the euro fell against the dollar – reversing a trend in recent weeks – as ECB president Mario Draghi hinted he may ease monetary [...]
Older homeowners tapping into their properties for cash hits 11-year high October 27, 2015 Equity release lending recorded its biggest jump in the third quarter in 11 years as more homeowners tapped into the value of their property to boost their finances. Equity release schemes are targeted at older homeowners, allowing them to take cash from the equity built up in their property without the need to sell up. [...]
UK R&D spend dropped by 52 per cent between 2007 and 2015 – PwC October 27, 2015 Spending on research & development (R&D) in the UK dropped by 52 per cent between 2007 and 2015, according to research from PwC's Strategy& business. The financial services firm said this shift had come about as a result of globalisation making it “increasingly attractive for UK companies to redeploy their R&D spend globally instead of investing domestically”. [...]
New flexible ISA rules will encourage savers – Yorkshire Building Society October 27, 2015 Almost one in five (19 per cent) people without an ISA intend to open one when the new ISA freedom rules come into effect, a Yorkshire Building Society survey has found. The new rules, which were announced in the March 2015 Budget and come into effect on 6 April 2016, will allow people to withdraw and [...]
Criminal prosecutions brought by Health and Safety Executive more than doubled in 2015 – Cerico October 27, 2015 The number of criminal prosecutions for serious wrongdoing brought by the Health and Safety Executive (HSE) has jumped from 24 in 2012 to 52 in 2015, according to data obtained by online compliance business Cerico. Cerico also found that number of appeals received by the HSE had gone up from 13 to 20. “The problem for [...]
Boardroom battle between Electra and Sherborne Investors boss Edward Bramson continues October 26, 2015 The boardroom cat-fight between Edward Bramson and Electra rumbles on, with yet more letters when Electra released its full year results yesterday. Electra reported net asset value (NAV) per share return of 25 per cent in the year to September 30, with £259m realised from the portfolio. NAV per share return (the best measure of [...]
Apple weighs on Wall Street before results – New York Report October 26, 2015 Energy shares dropped with oil prices yesterday and Apple retreated a day before its quarterly results as the Dow and the S&P 500 edged lower. The Dow Jones industrial average fell 23.65 points, or 0.13 per cent, to 17,623.05, the S&P 500 lost 3.97 points, or 0.19 per cent, to 2,071.18 – but the Nasdaq [...]
Blackstone private equity to buy Boeing manufacturer MB Aerospace from Arlington Capital Partners October 26, 2015 Blackstone private equity fund is to buy Scottish-based engineering company MB Aerospace from US private equity fund Arlington Capital Partners for an undisclosed sum. MB Aerospace manufacturers and repairs aero-engine parts for customers including Rolls-Royce, Boeing, United Technologies Aerospace Systems, General Electric and the US Department of Defense, and has facilities in the UK, US [...]
Insurer Axa brings Ireland business under scope of new UK boss Amanda Blanc October 26, 2015 Insurance company Axa has announced that it will bring its Ireland operations under the remit of Amanda Blanc when she becomes CEO of Axa Insurance, UK & Ireland, on 1 January 2016. Axa Ireland will continue to run as an independent entity, but will report into Blanc. Axa Ireland will be headed by Phil Bradley [...]