FTSE led higher by Hargreaves and Arm results – London Report October 16, 2015 THE FTSE 100 closed higher yesterday after three consecutive sessions of closing down, as investors concentrated on company earnings. The FTSE closed 1.1 per cent up, at 6,338.67 points, led by gains in Arm and Hargreaves Lansdown. Arm, the semiconductor and software design company, ended 4.78 per cent up on the back of strong results [...]
Best of the Brokers for 16 October 2015 October 16, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com ASOS ASOS is still “overweight”, according to Barclays, but the broker says that while investor confidence remains low, thanks to under-performing the FTSE 250, it believes shares can “materially outperform” as sales accelerate on price investments, margins are unlikely to fall below four [...]
The secrets of presenting to the boss: Off-the-wall is fine but prepare answers before you go in October 16, 2015 As a former director, I recall the time when a newly appointed member of the executive team was “called in” to present to the chief executive for the first time. Needless to say, she was a little anxious, so I did my best to encourage her. Afterwards, I asked how it went, and she [...]
London property prices: City rents rocketing as estate agent warns the only way is up October 16, 2015 London rents reached a record high in September after rising 11.6 per cent over the last year, according to new figures released this morning, with agents warning that the only foreseeable trend is an upward one. Rental price growth in the capital was far higher in September than the UK average of 6.3 per cent, the [...]
Treasury’s U-turn plugs brain drain fears: City bosses welcome “reverse burden of proof” retreat October 16, 2015 City bosses have welcomed the Treasury’s U-turn on controversial plans for a so-called “reverse burden of proof” for senior bankers, saying that the reversal will help the Square Mile retain and attract top talent. A leading City head-hunter told City A.M. that the Treasury’s initial proposals, which would have required bankers to prove they were unaware [...]
Could Crossrail be creating skills shortages in parts of Britain? Recruiter Randstad thinks so October 16, 2015 Crossrail could be to blame for skills shortages in certain parts of Britain, according to a new report out today from Randstad CPE, the specialist recruiter. Randstad says that more than a quarter of Crossrail’s workforce is drawn from regions more than 30 miles away from the project, with one in 20 moving more than [...]
European firms are too reliant on big banks, according to EY and TheCityUK October 16, 2015 Europe's financial stability could be at risk due to a lack of understanding about alternative forms of finance, a new report out today from EY and TheCityUK has warned. The report argues that the scarcity of information on alternative finance not only could this hinder firms’ future growth potential, but also leave businesses exposed in [...]
Government to hold crisis summit on UK’s troubled steel industry following SSI Redcar closure October 16, 2015 Government ministers are holding a crisis summit on the UK's troubled steel industry today, in the wake of high-profile mill closures that have led to thousands of job losses. Ministers, along with steel companies, unions and trade bodies, are meeting in Rotherham to discuss how the industry can counter overcapacity, cheap imports from China and the [...]
Women are less likely to receive bonuses than men, Glassdoor survey reveals October 16, 2015 Women are less likely to receive bonuses than men, according to damning new findings from employment firm Glassdoor. Under a third of women employees (29 per cent) receive any kind of bonus, as opposed to 44 per cent of men, according to the Glassdoor UK Employment Confidence Survey. In addition, 37 per cent of women [...]
How Winterflood’s founder went from Freemason to gangster October 15, 2015 Winterflood Securities founder Brian Winterflood has had one hell of a year. The brokerage’s top dog is well-known in the City for his love of unusual and dangerous holidays, but last year’s trip to the North Pole with wife Doreen left more than a lasting impression on the couple. “It was on my bucket list,” the [...]