London toasts boom in craft beer start-ups February 22, 2015 BUSINESS is booming for London’s micro-breweries, with 2014 emerging as yet another record year for start-ups entering the capital’s thriving artisan beer scene. Last year there were 30 applications to HMRC to launch breweries in London, a small increase of one on 2013’s record year and almost double that of two years earlier. London is [...]
Fortnum & Mason’s Canadian owner makes £105m windfall February 22, 2015 THE CANADIAN owners of Fortnum & Mason and Associated British Foods have made £105m in dividends – most of which will go to charitable causes – after another buoyant year. Accounts filed recently on Companies House reveal that Wittington Investments, one of the main investment vehicles of the Weston Family, paid out £63m in the [...]
UK corporates weakened by strong sterling February 22, 2015 FIRMS listed on the FTSE 100 fell victim to the UK’s own success as the internationally focussed index saw revenues suffer on the back of strong sterling according to the latest Profit Watch UK report by analyst firm The Share Centre. The domestic UK economy sprung to life last year growing by 2.6 per cent, [...]
Report: Local government must reinvent itself in order to survive February 22, 2015 Local government needs a radical rethink if it is to survive, a new report says this morning. The MCA Think Tank has made 17 recommendations in the report. These include improving the calibre of those in leadership positions in local government, increased digitisation of services, and a further examination of the role of local councils. [...]
Bigger firms do better at board gender equality February 22, 2015 The UK’s glass ceiling may be showing signs of cracking after new research revealed women now hold directorships in just over a third of UK businesses, with larger firms leading the way, according to consultancy firm Procorre. The new figures suggest Britain’s SMEs have a lot to learn from their bigger counterparts after the data [...]
Property accelerator Property Innovation Labs launches £500,000 crowdfund on Seedrs February 22, 2015 A Shoreditch-based accelerator programme aimed at finding the next big technology innovations in property has today launched a £500,000 fund using crowdfunding platform Seedrs. Property Innovation Labs (Pi Labs), created by Cushman & Wakefield and venture capital firm Spire Ventures, aims to help tech start-ups shaking up the property sector by providing them with mentoring [...]
City Moves for 23 February 2015 | Who’s switching jobs February 22, 2015 JLL The real estate-focused professional services firm has announced the appointment of two investment agents from Colliers International. Richard Servidei (pictured) joins its alternatives team. Oliver Jordan joins its retail investment team. PineBridge Investments The investment management firm has announced the appointment of Anik Sen as global head of equities. He joined PineBridge’s London office [...]
Best of the Brokers for 23 February 2015 February 22, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com RATHBONE Numis reiterated its “hold” rating on the investment manager, describing it as a solid, well-run business that “appears to have a sensible, if not overtly aggressive, strategy for the next five years”. It also said the firm is likely to achieve its [...]
GDP and consumer confidence rises reflect UK growth – London Report February 22, 2015 GDP growth is this week likely to be confirmed at 0.5 per cent quarter-on-quarter for the final three months of 2014. That growth is likely to be reflected further on Friday with consumer confidence for February at a 12-year high. The corporate week starts today with reports from Associated British Foods, Bovis Homes, HSBC and [...]
Volatility in US markets – New York Report February 22, 2015 AFTER a holiday-shortened trading week that pinned stocks in a tight trading range, equities are poised for a bout of renewed volatility as investors watch the economy and the Federal Reserve for signs of policy changes and economic strength. With worries about Greece taking a back seat, traders this week could focus on the slew [...]