Ryanair considers issuing bonds to fund the renewal of its fleet January 20, 2014 IRISH airline Ryanair is considering tapping bond markets directly for the first time, it emerged yesterday. Europe’s largest airline by passenger numbers has issued bonds backed by ExIm bank previously, but is in the process of seeking a rating to gain direct access to the debt markets. “We are putting ourselves in a position to allow [...]
Fat Face joins queue to float in London January 20, 2014 FAT FACE, the clothing company, is inching towards a stock market float after appointing Citigroup and Jefferies. The firm’s private equity owner Bridgepoint appointed Lazard before Christmas to explore options for the business, which it has owned since 2007. Yesterday’s move, first reported by Sky News, suggests it will pull the trigger on a float.
CNBC Comment: Davos cynics miss its true relevance January 20, 2014 IT’S EASY to be hysterical or snarky about the annual gathering of chief executives, politicians, economists and “thought leaders” at the World Economic Forum in Davos (which begins this week) – particularly if you’re not going. Plenty of conspiracy theorists suspect that the world’s elite is gathering in this small Swiss town to plan the [...]
DailyFX Tips & Picks: Understanding the nature of the London forex session January 20, 2014 Trading the London forex session can be an eye-opening experience; the movements are hefty and trend-following traders tend to perform best during these hours. The reason for this is that the market’s bias will be quite consistent until New York joins in the afternoon. This means that, if the day starts out with a stronger [...]
DailyFX Tips & Picks: Analyst picks January 20, 2014 CHIEF STRATEGIST JOHN KICKLIGHTER My pick: Short sterling-dollar, long Aussie-yen and euro-sterling Expertise: Fundamental and technical analysis Average time frame of trades: 1 day to 1 week Full-scale risk aversion is a scenario that constantly circles the borders of the financial markets, but positioning for catastrophe is a game fraught with false starts. Until we [...]
Morrisons’ tax boss arrested in watchdog probe January 20, 2014 MORRISONS’ treasurer and head of tax is under investigation by the Financial Conduct Authority (FCA) for insider trading ahead of its £216m tie-up with Ocado last year, in yet another blow for the troubled supermarket. Paul Coyle was suspended from his post after being arrested in December in Harrogate by the Yorkshire police in connection [...]
Aviation head Davies says he will ignore abuse from Boris January 20, 2014 SIR HOWARD Davies plans to “rise above this vulgar abuse” from Boris Johnson as he works to pick a site for a new runway or airport. “As far as the Mayor’s concerned we don’t seem to have produced the answer he wants us to produce,” Davies told MPs at yesterday’s Transport Select Committee. Davies’ panel [...]
Farage: Women are worth less to City bosses January 20, 2014 WOMEN who take time off to have children are “worth less” to City bosses than their male colleagues, Ukip leader Nigel Farage has said. Speaking at a conference on Europe, Farage said he didn’t believe there was any discrimination against women in the City, singling out banks, brokerage houses and Lloyd’s of London as good [...]
Co-op calls off insurance sale on equity deal January 20, 2014 THE CO-OPERATIVE group has pulled the plug on its plan to sell its general insurance arm because it no longer needs the funds to fill the bank’s capital hole. A £1.5bn capital hole was revealed at the bank last summer, and the group initially planned to fill £1bn of that with its own resources. It [...]
Watchdog to formally probe KPMG audit of troubled bank January 20, 2014 KPMG’S work on the Co-operative Bank’s accounts will be formally investigated, the Financial Reporting Council said yesterday. The watchdog said it will probe KPMG’s approval and audit of the Co-op Bank’s 2012 results, following the bank’s revelation last year that it had a £1.5bn capital hole. The FRC, which has powers to fine and suspend [...]