Employment tribunal costs condemned July 28, 2013 NEW employment tribunal costs being introduced today have been roundly criticised by both unionists and employer groups. Berwin Leighton Paisner partner Fraser Younson said: “The employment tribunal’s fees scheme was introduced by the government with the dual objectives of cutting the costs to the taxpayer of an increasing number of tribunal claims and also to [...]
City Moves for 29 July 2013 | Who’s switching jobs July 28, 2013 KPMG The professional services firm has announced the appointment of James Wakelin to its real estate advisory team. Wakelin has 11 years’ experience in real estate investment and financing. He was most recently at Pacific Real Estate Capital Partners, where he was a director. Prior to that, he was a director at UBS Investment Bank, [...]
Best of the Brokers for 29 July 2013 July 28, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com PEARSON S&P Equity Research has a “hold” rating and raises its target to 1,400p following the publishing giant’s first-half results. The analyst thinks Pearson’s plan to sell Mergermarket is a step in the right direction, but that the firm’s insistence on keeping [...]
London Report: UK’s corporate calendar packed in results season July 28, 2013 THE CORPORATE calendar is packed this week, as businesses including ITV, BP, Lloyds, Barclays and Royal Bank of Scotland update the market amid a swathe of other results. The week begins with figures from Fidessa Group, Hammerson, InterContinental Hotels Group, Intertek Group, JKX Oil & Gas, Keller Group, Senior, Vernalis, Reckitt Benckiser Group, National Grid, [...]
Wall St The Week Ahead: Wall St awaits jobs, Fed and earnings news July 28, 2013 THIS week on Wall Street could be a summer blockbuster, with the roster featuring a triple bill: the Fed, jobs and earnings. Of the three, the Federal Reserve has the most potential to upset the market. The Federal Open Market Committee is expected to release a statement on Wednesday after a two-day meeting. Fed chairman [...]
Any Other Business – 29/07 July 28, 2013 ■ While many City fitties were pounding the streets of the capital for the London Triathlon this weekend, a smaller group donned trainers and Speedos for a less competitive race. Barclays banker Jim Westropp and friends from BNP Paribas, Partners Capital and CBRE ran six miles around town dressed only in brightly coloured pairs of [...]
Another MP gets muddled up on Twitter July 26, 2013 Deputy Labour leader and shadow culture secretary Harriet Harman has become the latest MP to to get confused on Twitter, when she attempted to "@" Guardian columnist Polly Toynbee using her email address rather than her @pollytoynbee handle, and attaching a picture of Toynbee's article at a 90 degree angle rather than a link. Great [...]
Euro rises as Standard & Poor’s affirm Slovenia rating of A- with stable outlook July 26, 2013 Standard & Poor’s has affirmed Slovenia’s rating at A- with a stable outlook. The euro reacted positively. S&P affirms Slovenia at A-/A-2; outlook stable. EUR likes – moves up about 15 pips straight away — Yogesh Chandarana (@Yogi_Chan) July 26, 2013 S&P said that the country's strengths are being balanced out by a sharply increasing [...]
We won’t find out who the next Fed chairman is until the autumn July 26, 2013 The White House has said that US president Barack Obama is not expected to name a new Federal Reserve chairman until the Autumn, lowering expectations of an imminent announcement. The news was reported by the Associated Press, citing a senior White House official speaking on the condition of anonymity. Among the leading candidates are former [...]
IMF says balance of risks to US economy tilted to the downside July 26, 2013 The International Monetary Fund (IMF) has warned that the fiscal deficit reduction in the US this year is “excessively rapid” and that the Federal Reserve must be very careful when tapering down its quantitative easing programme (release). In its conclusion of the Article IV consultation, the IMF said that the US recovery has remained “tepid” [...]