EU referendum: Politicians and business leaders line up to campaign for and against Brexit October 12, 2015 Heavyweight politicians and business leaders have nailed their colours to the mast in the debate over Britain’s EU membership by throwing their support behind the “in” and “out” campaigns, as referendum battle lines are drawn. The campaign for the UK to remain in the EU, Britain Stronger in Europe, officially launches today. Led by former Marks [...]
Broker gets on his bike with a little help from BBC’s Ben Fogle October 11, 2015 The average charity challenge or fun run usually follows the same routine: a JustGiving page is set up, maybe a website, a few tweets and maybe an inspirational blog to conclude. However, one City broker has raised the bar after getting an endorsement from BBC presenter Ben Fogle, well-known for his adventures from trekking the [...]
Companies can buy letters to protest TfL’s Uber crackdowns October 11, 2015 Are you team TfL or team Uber? Things have been hotting up between the two transport forces this month. After TfL proposed restrictions on the rival car hire service such as a minimum waiting period, Uber have hit back with their own petition. Now, Propeller PR chief Martin Loat is giving Londoners the chance to have [...]
Only £4,327 for HMRC despite Facebook UK’s £105m revenues October 11, 2015 FACEBOOK paid just £4,327 in corporation tax last year – less than the annual cost of travel for some people commuting to London from Brighton each day. The social media giant rewarded its UK staff with an average of £210,000 in pay and bonuses, and spent £35.4m on shares for 362 London employees, bringing the [...]
Kweku Adoboli fights deportation to Ghana October 11, 2015 Former UBS rogue trader Kweku Adoboli is fighting against being deported to Ghana after an immigration tribunal decided he should be sent back to his home country. Adoboli, who lost $2.3bn (£1.5bn) in unauthorised trading at UBS, was released from prison in June after serving out nearly half of the seven-year sentence he was given. Home Office rules [...]
Oil firm Ineos goes on a shopping spree for DEA’s North Sea assets October 11, 2015 Ineos has agreed to purchase all of the UK North Sea gas fields owned by Russian billionaire Mikhail Fridman’s DEA Group. The deal comes only weeks ahead of a deadline set by the government in April for DEA owner investment firm LetterOne to dispose of the oil and gas fields it bought from German utility [...]
City Moves for 12 October 2015 | Who’s switching jobs October 11, 2015 CARTER JONAS The property consultancy has appointed Darren Yates as head of research. He was formerly a partner at Knight Frank, where he worked as head of global capital markets research. Yates has over 20 years’ experience, and has also worked at Cushman and Wakefield, and Management Horizons Europe. MAREX SPECTRON Andrew Strickland has been [...]
Best of the Brokers for 12 October 2015 October 11, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com Greene King, the 200-year-old Suffolk brewery, needs to cut its combined brand portfolio of 16-17 to six or seven to ensure medium-term success, analysts at Canaccord Genuity said. They reiterated their “buy” recommendation, but lifted their target price of 850p to 1,050p. Following [...]
Inflation likely to show minute rise above zero – London Report October 11, 2015 INFLATION data will be in the spotlight this coming week. The consumer price index in the UK, released tomorrow, is expected to pick up in September to 0.1 per cent year-on-year, following a drop to zero per cent in August. The Bank of England, which is targeting two per cent inflation, said the outlook for [...]
Data will show Fed’s appetite – New York Report October 11, 2015 FIGURES out this week will give another indication regarding the appetite of the Federal Reserve to raise rates from historic lows before the end of the year. Producer prices for last month, published on Wednesday, are expected to remain negative, down 0.8 per cent year on year. September inflation data, to be released on Thursday, [...]