‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
Costa Concordia crew sentenced July 21, 2013 Four Costa Concordia crew members and a company official were sentenced to jail in Italy on Saturday for their part in the 2012 cruise ship disaster that killed 32 people, leaving only the captain still on trial. The five received sentences of between 18 and 34 months for manslaughter, negligence and shipwreck, but are unlikely [...]
Mayfair mews pays out for property mogul July 21, 2013 VINCENT Tchenguiz, the property tycoon wrapped up in a legal battle with the Serious Fraud Office (SFO) has had one piece of good news of late – the mogul has sold his Mayfair home for almost £17m. The eight-bedroom property on Lees Place in Mayfair is close to Annabel’s private members club and only five [...]
Aston Martin celebrates centenary July 21, 2013 SWISS dental heir Thomas Straumann might have been feeling some pangs of nostalgia this weekend, as Aston Martin was showing off 550 of its finest motors at Kensington Palace Gardens, to celebrate turning 100. Straumann used to be the proud owner of an Aston Martin DB5 – which was used to promote the James Bond [...]
Best of the Brokers for 22 July 2013 July 21, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com CAPITA Shore Capital keeps its “sell” rating and 1,056p target on the outsourcer as it looks ahead to interim results this week. The broker thinks new contract flow will disappoint slightly, in spite of an expected 15 per cent rise in half-year revenues, [...]
Any Other Business – 22/07 July 21, 2013 As Royal baby watch continues, the Mayor of London Boris Johnson has given his two cents on a potential name: “I've always thought Boris is a nice name for a girl” he tweeted in an online Ask Boris session. He also weighed in on Prime Minister David Cameron’s favourite band. When asked what he thought [...]
ENRC begins legal proceedings against former director July 19, 2013 Miner ENRC has filed a legal claim in the High Court against a former non-executive director, Paul Judge (release). For breach of fiduciary duty to ENRC, relating to the disclosure of confidential information to the media and for the return of all confidential documentation in his possession. Gerhard Ammann, chairman of ENRC said: We have [...]
Sale of government’s £5bn Lloyds stake may begin this September July 19, 2013 The government is weighing the sale of its stake in Lloyds as soon as September, valued at approximately $7.6bn (£5bn), according to reports by Bloomberg.
China moves towards lending determined by markets forces, rather than government fiat July 19, 2013 China will remove its floor on lending rates tomorrow, and markets seem to be interpreting the move by the People's Bank of China as easing. See the reaction in the Australian dollar: Controls on bill discount rates and a ceiling on lending rates for rural credit co-operatives will also be scrapped, allowing banks more freedom [...]
US bellwether General Electric beats earnings forecasts July 19, 2013 US utility company General Electric has just beaten earnings forecasts, making $0.36 per share in the second quarter, rather than the $0.35 expected. Revenues less satisfying, making just $35.12bn as opposed to estimated revenues of $35.56bn. The company is often seen as an indicator of future economic performance in the US, and said that it [...]
JP Morgan will advise government on bank privatisation strategy July 19, 2013 UKFI, the body responsible for managing the government's stakes in RBS and Lloyds, has announced that it has appointed JP Morgan to advice on the return of these holdings to public hands. UKFI announces that it has appointed J.P. Morgan Cazenove as a privatisation strategy adviser under Lot 4 of the Framework for an initial [...]