Germany upbeat on Xmas sales December 1, 2013 German retailers are satisfied with the start of the Christmas sales season, according to a survey conducted by their HDE industry association. Following a tepid lead up to the biggest shopping season of the year, demand has improved and many consumers used Saturday to begin purchasing Christmas gifts. “Sales were above their previous year’s level. [...]
City Moves for 02 December 2013 | Who’s switching jobs December 1, 2013 Aecom The technical and management support services firm has appointed Will MacDonald as regional director of its building engineering team. He has over 25 years’ experience in the industry, and joins from Inhabit Group, where he was technical director. MacDonald has also held roles at Land Lease. Mirae Asset Global Investments The asset management firm [...]
Best of the Brokers for 02 December 2013 December 1, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com DAILY MAIL & GENERAL TRUST UBS keeps its “neutral” rating but hikes its target from 780p to 920p following the media group’s full-year results. The broker thinks the strength of the firm’s Zoopla website will continue to drive the share price, even if [...]
London Report: Under pressure Tesco to reveal crunch results December 1, 2013 TESCO’S quarterly results on Wednesday form the centrepiece of a full calendar of corporate results dominated by high street names. The supermarket, which recently saw its market share fall under 30 per cent for the first time over the last 18 months, is set to deliver disappointing numbers, according to analysts, who predict a like-for-like [...]
New York Report: Investors eye retail and jobs data for clues December 1, 2013 A WEEK packed with data awaits investors eager for fresh clues on when the Federal Reserve will start to trim its stimulus program, as traditionally bullish December kicks off with the S&P 500 poised to mark its best year since 1998. Traders will also sweep through sales data from retailers after the long Thanksgiving weekend, [...]
Any other business – 02/12 December 1, 2013 GEORGE Osborne might have bitten off more than he can chew ahead of Thursday’s autumn statement. The chancellor tweeted a picture of a new family member – a puppy called Lola, later tweeting, “Some early issues with toilet training … but we don't care. We love her.” So does The Capitalist, George.
Regulator letter warns banks in wake of RBS allegations November 29, 2013 City watchdog the Financial Services Authority (FCA) has said that reports earlier this week on the lending practices of RBS have prompted it to write "to all other relevant banks seeking confirmation that they are satisfied they do not engage in any of the poor practices alleged in the reports." Allegations that RBS made a [...]
Bordeaux Index reveals cork-popping champagne sales as economy recovers November 29, 2013 In the first ten months of 2013 wine merchant Bordeaux Index sold over £11m worth of champagne, close to double the amount the sold over same period last year. Champagne made up close to 17 per cent of of the company's total sales in 2013 compared to eight per cent for the same period last [...]
How sustainable is Japan’s surge in consumption? November 29, 2013 In Tokyo, the prices of home durable goods rose in November for the first time in two decades, and at their fastest pace in 30 years. The data provide further bolstering to Abenomics – prime minister Shinzo Abe's answer to breathing life into an economy that's trying to overcome 15 years of deflation. Prices of [...]
UK banking regulator sets out capital standards November 29, 2013 The Prudential Regulation Authority (PRA) announced on Friday that major banks and building societies will be required to have a core capital buffer equivalent to seven per cent of their risk weighted assets from January 2014, as well as comply with a leverage ratio of three per cent. The PRA said in a statement: The [...]