Bentley steers to record year July 9, 2014 LUXURY car maker Bentley Motors yesterday said that 2014 is on the way to becoming its most successful year. The company, owned by Volkswagen since 1998, reported record sales for the first half of the year, with worldwide deliveries up 23 per cent on last year to 5,254. Sales were up in China by 61 [...]
City Moves for 10 July 2014 | Who’s switching jobs July 9, 2014 Regis The global property investor has appointed Syd Taylor as its UK-based chief financial officer. Taylor’s 25 years of experience include director level roles with Rockmount Capital, ING Real Estate, Goldman Sachs and Great Portland Estates. Smith & Williamson Peter Mitchell has joined the accountancy and investment management group as head of banking. Mitchell joins [...]
Best of the Brokers for 10 July 2014 July 9, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com BP Barclays has increased BP to “equal weight” from “under weight”, keeping the target price at 600p. The broker thinks management’s commitment to return divestment proceeds to shareholders and potential for solid efficiency savings outweigh any long term concerns. PROVIDENT FINANCIAL Berenberg has [...]
London Report: FTSE at two-month low as Admiral and Aviva shares dive July 9, 2014 BRITAIN’S top share index fell for a third straight session to a two-month low yesterday, with Admiral sinking after its trading update and Aviva down after outlining its turnaround targets. Next dipped two per cent to 6,365p after reaching its ex-dividend date. Car insurer Admiral slumped 3.3 percent after saying revenues fell in the first [...]
New York Report: US stocks rise on taper news July 9, 2014 US stocks finished higher yesterday, rebounding from a sharp two-day selloff, after minutes from the last Federal Reserve meeting showed policymakers have started to detail how the central bank will end its easy monetary policy. The Fed indicated it will end its bond purchases in October and appeared near agreement on a plan to manage [...]
Excel at anything by breaking free of comfort zones July 9, 2014 Take a leaf out of Mozart and Tiger Woods’s book – practice like hell. The demands of work can mean taking on tasks and responsibilities that require intense learning curves. While maths-based work might terrify the more creative among us, number crunchers can often feel daunted by presentations and report writing – self-improvement [...]
Government IPOs to be reviewed after Royal Mail sell off criticism July 9, 2014 Business secretary Vince Cable has launched a review of the way the government conducts IPOs after the controversy surrounding its sell off of Royal Mail. The review, led by City grandee Lord Myners, will look at the disposal of government assets and assess if there are alternatives. It will also look at: What alternative IPO [...]
Chris Froome: How much will his Tour de France exit cost him? July 9, 2014 Reigning Tour de France champion Chris Froome has pulled out of this year’s race because of the damage caused by a fall, but how much could the exit damage his earnings? The cyclist last year pocketed almost half a million from his success in the Tour, including the biggest handout for winners of €450,000. In [...]
Fed minutes: QE stimulus to end in October July 9, 2014 The US Federal Reserve plans to end its program of quantitative easing in October according to minutes released from meetings in June. US markets dipped briefly on the news but quickly moved higher. The end of the bond buying program which began in September 2012 has already slowed by $10bn each month and the US [...]
Pope Francis appoints Lord Patten as Vatican media advisor July 9, 2014 Former BBC Trust chairman Lord Patten has been appointed as a media advisor to Pope Francis, as the Vatican looks for ways to get its message across online. Leading British catholic Lord Patten said that the role involves chairing an advisory committee examining how the Church can develop its media outlets, which include a newspaper, [...]