FTSE jumps as investors cheer the Fed rate rise – London Report December 18, 2015 TOP SHARE index, the FTSE 100, climbed yesterday, tracking gains on other equity markets after investors took the first US interest rate rise in nearly a decade as a sign of policymakers’ confidence in the world’s biggest economy. The FTSE rose 41 points, or 1.2 per cent to 6,102 points, but is down by around seven [...]
Best of the Brokers for 18 December 2015 December 18, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com TRINITY MIRROR Analysts at Liberum have reiterated a “buy” rating for Trinity Mirror despite the firm losing its appeal against the level of phone hacking damages awarded against it and increasing the level of provisions by £13m to £41m. Liberum reckon this is [...]
Prime Minister David Cameron issues plea to EU leaders to back his reform proposals December 18, 2015 Prime Minister David Cameron used a working dinner in Brussels last night to make an impassioned plea to European leaders to back his proposals for “substantial” reform of the European Union. In a lengthy appeal to European heads of state and government from all 27 other EU member states, Cameron said that if the leaders wanted the [...]
London mayoral election 2016: Sadiq Khan says he wants Tech City to be in the hands of City Hall as he matches Zac Goldsmith pledge for super-fast broadband December 18, 2015 Labour City Hall hopeful Sadiq Khan will today call for Whitehall to devolve certain powers relating to “Tech City” to the mayor of London. “London has made a great fist of carving out a leading position as a centre of tech but there’s much more to do to ensure we build on this success,” Khan [...]
How do bankers escape the City to make it as an entrepreneur? December 17, 2015 Bankers have a long history of flexing their creative and marketing muscles once in a while to start their own firms, sometimes with mixed success. This year, former City banker Oli Brookes took a step back from Square Mile life. He joined up with fellow entrepreneur Dan Zell to set up a company that now [...]
Security Council adopt UN resolution to choke off funding for Islamic State December 17, 2015 The 15 finance ministers of UN Security Council nations have moved to starve funding for the so-called Islamic State (Isis) and other terrorist groups. At tonight’s meeting, the first of finance ministers since the Security Council was formed in 1945, a resolution was adopted urging countries to “move vigorously and decisively to cut the flow [...]
City Moves for 18 December 2015 | Who’s switching jobs December 17, 2015 TOGETHER Andrew Murdoch has joined specialist lender Together as group valuations manager, after 12 years with Eddisons. A Royal Institute of Chartered Surveyors-registered valuer and registered receiver, he has extensive experience in valuation, asset management and value enhancement. At Eddisons, he spent eight years specialising in corporate recovery, insolvency and LPA receiverships, including two year-long [...]
Wall St slips as global concerns curtail rallies – New York Report December 17, 2015 CONCERN over faltering global economic growth yesterday ended a three-day rally on Wall Street, led by declines in energy and materials shares, a day after shares rose on the Federal Reserve’s decision to raise interest rates. The Dow Jones industrial average fell 253.25 points, or 1.43 per cent, to 17,495.84, the S&P 500 lost 31.18 [...]
UN Security Council urged to do more as George Osborne vows to choke off funding for Isis December 17, 2015 In an unprecedented move, chancellor George Osborne met with finance ministers from members of the UN Security Council in New York today as part of an international effort to choke off sources of funding for the so-called Islamic State (Isis) and other terrorist groups. But while the meeting – the first of finance ministers since [...]
High German business confidence points to strong end-of-year growth December 17, 2015 The German economy is expected to make a strong start to 2016 after a survey published this morning showed businesses were in a confident mood. The business climate index compiled by the Munich-base IFO Institute edged down slightly to a score of 108.7 points this month from 109 in November. Despite the marginal dip, it remains [...]