Goldman’s Petershill Partners slides after £4bn London IPO September 28, 2021 Shares in Goldman Sach’s Petershill Partners fell today after the alternative asset manager made its debut on the London Stock Exchange with a market capitalisation of £4bn. Petershill Partners, which owns minority stakes in 19 private equity, venture capital and hedge funds with a combined $187m of assets under management, sold £1.2bn of stock as [...]
Two US Fed chiefs quit as controversy over stock trades ramps up September 28, 2021 Two of the US central bank’s regional chiefs have stepped down as the fallout from controversial stock trades they made accelerates. Dallas Federal Reserve President Robert Kaplan became the second regional central bank leader to resign on Monday, after Boston Fed President Eric Rosengren took an early retirement. Controversy has swirled over both men due [...]
Ferguson annual profit rises after lockdowns fuel US appetite for home improvement September 28, 2021 Plumbing group Ferguson has posted higher annual profits, buoyed by strong home improvement demand in the US, but expects the lockdown trend to taper in the upcoming financial year. The FTSE 100 firm, which has a second US listing, said underlying trading profit climbed 32 per cent to $2.1bn in the full year ended 31 [...]
FTSE 100 engineer Smiths sees revenue growth return September 28, 2021 British engineering giant Smiths has reported a return to revenue growth, in its first set of results since the appointment of its new CEO in May. Underlying revenue for the Group was two per cent for the full year, with growth seen in the final quarter. Operating profit at the multinational engineering company was up [...]
‘Alpha-Flation’: A Private Market Syndrome September 28, 2021 | City Talk In private equity (PE), there are more ways to calculate the alpha of a portfolio or fund than any other asset class. And in no sector other than private markets does investing in the average fund seem to go so poorly. Should it be this way? Is the average private market fund a bad fund [...]
Bailey’s hawkish tilt drags FTSE 100 down September 28, 2021 London’s FTSE 100 dipped during the moring session today driven by investors sentiment souring on governor of the Bank of England Andrew Bailey signalling rate hikes will come sooner than expected. The capital’s premier index lost 0.40 per cent to fall to 7,035.23 points during the first hour of exchanges. In a speech last night, [...]
Card Factory sees strong performance in H1 2021, but still turns a loss September 28, 2021 Card Factory has seen revenue surge during the first six months of the year, but the greeting cards retailer still ended up in the red. EBITDA surged by 202.6 per cent, reaching £23.6m in the first half of the year, while revenue jumped by 16.3 per cent year on year to stand at a healthy [...]
Bailey: Worsening inflation makes rate rise more likely September 27, 2021 Bank of England Governor Andrew Bailey has said inflation has “strengthened (the) case” for a rate rise. The Bank’s Monetary Policy Committee (MPC) has repeatedly voted to keep the base rate at 0.25 per cent despite signs of growing inflation. But last Thursday the MPC raised inflation forecasts to north of 4 per cent by [...]
US markets slide on tech companies despite 3 year high for oil September 27, 2021 In the US both the S&P 500 and the Nasdaq indexes took a tumble from their previous close prices as technology companies spearheaded losses. The S&P 500 was down 0.28 per cent at the open despite a standout performance by energy stocks on the back of surging oil prices. Occidental Petroleum Corp jumped by 7.86 [...]
Rolls-Royce shares shoot up 11 per cent as it pockets £1.5bn from Bain in Spain September 27, 2021 FTSE 100 engineering giant Rolls-Royce said today it has struck a deal to sell its Spanish ITP Aero business for £1.5bn to a consortium led by private equity giant Bain in the latest move of its major disposal programme. The company said the deal, which is expected to complete in the first half of 2022, [...]