Best of the Brokers for 24 April 2014 April 23, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com PREMIER FOODS Jefferies has restarted coverage on the food maker with a “buy” rating and 90p target. The broker thinks fears of a grocery price war are overdone and believes the company can weather the pressure to deliver on its 2014 forecasts. THOMAS [...]
London Report: Takeover hope and US expansion keep FTSE 100 on a high April 23, 2014 US expansion plans for Associated British Foods and expectations of consolidation in the drugs sector kept Britain’s top share index near a two-week high yesterday. Clothing and food conglomerate AB Foods surged 8.8 per cent, its best one-day percentage gain for 14 years, after saying its fast-growing clothing chain Primark is to set up in [...]
New York Report: Wall St breaks winning run April 23, 2014 US stocks dipped yesterday to snap a six-session winning streak as gains in Boeing and Gilead were offset by slides in AT&T and the wider biotech sector. The Dow Jones industrial average fell 12.72 points or 0.08 per cent, to end at 16,501.65. The S&P 500 lost 4.16 points or 0.22 per cent, to 1,875.39. [...]
Three ways you can bounce back after being fired April 23, 2014 Having an explanation ready for any abrupt departure is vital THE LATE Steve Jobs said that being fired from Apple in 1985 was the best thing that could have ever happened to him. “The heaviness of being successful was replaced by the lightness of being a beginner again, less sure about everything. It freed me [...]
Retail successes and failures in the US April 23, 2014 Primark is making its first foray into the US, which has in the past proved to be a tough market to crack and one often described as the graveyard of UK retailers. However alongside a number of failures there have been several success stories. BurberryBurberry has proved to be one of the biggest British retail [...]
How Barclays could fire 7,000 investment bankers April 23, 2014 Barclays is shaking up its investment bank next month, and analysts at Bernstein expect around 7,400 staff to lose their jobs. It might sound like a stark turnaround for the bank – earlier this year chief exec Antony Jenkins increased bonuses for investment bankers because staff were jumping ship to higher-paying banks, particularly in the [...]
The government’s green policy will wreak havoc – and not just for Drax April 23, 2014 If the government wants to display a credible case for investment in renewables, then today was a definite step in the wrong direction. The Department of Energy and Climate Change has unveiled a list of eight renewable projects that will be eligible for contracts for difference, its new support framework for green energy generation. Coal-fired [...]
Here’s how government policy fuelled a booming black market in tobacco April 23, 2014 The illegal tobacco market continues to thrive in a country with one of the strictest tobacco control regimes in Europe, according to a report released by Japan Tobacco International (JTI). Ireland's illegal tobacco trade has grown to a point where non Irish duty paid cigarettes make up 28 per cent of the market. JTI's research [...]
Flybe is hoping to tempt in business travellers with new London City Airport routes April 23, 2014 FLYBE is returning to London with domestic routes aimed at business travellers, which it hopes will tempt time-poor passengers away from road and rail. The regional airline is launching five UK services from London City Airport in October, just over a year after it left Gatwick during its restructuring. Flights from the east London airport [...]
What you need to know before the US open April 23, 2014 US stocks futures suggest a slightly lower open today, following the recent rally the S&P 500 and Nasdaq have seen over the last few days. Mortgage applications in the US fell 3.3 per cent last week – the eighth drop in 11 weeks – with homeowners looking to refinance existing loans, and those looking for [...]