Newsweek changes hands again as IBT Media adds it to portfolio August 4, 2013 IBT Media, a digital-only media company, is to acquire Newsweek from IAC/InterActive, which took over the venerable title in 2010, stopped its print edition and relaunched it as a digital-only magazine earlier this year. IBT Media said the deal did not include the online news and commentary site The Daily Beast, which IAC had acquired [...]
City Moves for 5 August 2013 | Who’s switching jobs August 4, 2013 Pramerica Real Estate Investors The real estate investment management business has announced the appointment of Eric Adler as chief executive. Adler is currently chief investment officer at Pramerica, having joined the company in 2010 as head of European operations. He was previously as Tishman Speyer, where he co-directed its European activities, and was a member [...]
Best of the Brokers for 5 August 2013 August 4, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com ROTORK Espirito Santo tells investors to “buy” shares in the manufacturing group and has a fair value of 3,050p ahead of first-half results tomorrow. The broker thinks Rotork’s shares have unfairly fallen behind the rest of the industrial sector in the year so [...]
London Report: Carney’s first inflation report in the spotlight August 4, 2013 NEW Bank of England governor Mark Carney will take centre stage this week as he announces the latest Quarterly Inflation Report, plus plans to adopt forward guidance on interest rates for the first time. Forward guidance would give the bank’s Monetary Policy Committee (MPC) a third method of influencing the economy, alongside interest rates and [...]
Wall St The Week Ahead: Market likely to slow down after earnings August 4, 2013 WITH earnings season winding down and the employment report out of the way, the US stock market is likely to shift into a lower gear this week. The earnings season so far has been largely positive with more than half of the companies that have reported beating estimates. But cuts in outlooks from a number [...]
Any Other Business – 05/08 August 4, 2013 ■ The latest fan of American television show Breaking Bad is none other than the sage of Omaha himself Warren Buffett (pictured). Not only did he recently attend the New York premiere of the show’s final series, but the billionaire also declared the acting to be “superb”. Buffett even got some of show’s stars to [...]
SocGen sees gold prices rising to $1,400 August 2, 2013 Societe Generale predicts that gold prices will reach $1,400 per ounce in 2013 friom $1,308.29, before falling to $1,150 in 2014. The same note suggests silver will climb to $22 this year from $19.58 before dropping back to $20 in the next. Societe Generale's Robin Bhar: Our latest study of the global gold hedge book, [...]
IMF: A quarter of Spaniards will still be out of work in 2018 August 2, 2013 The International Monetary Fund has warned Spanish unemployment could be stuck above 25 per cent for another five years as it calls for decisive reforms to generate jobs and growth (release). Existing reforms have not been enough to address labour market rigidities, the IMF says, and the businesses need greater internal flexibility. Meanwhile, private sector [...]
US factory orders choke in June August 2, 2013 US factory orders have grown by just 1.5 per cent in June, behind analyst estimates of a 2.3 per cent increase. Last month saw orders up 3.0 per cent (revised up from 2.1 per cent) so there's still some good news in the latest data. Regardless, while economists had been hoping for an acceleration from [...]
Dell founder agrees last minute $25bn deal and postpones record date and vote August 2, 2013 Michael Dell and private equity firm Silver Lake have sweetened their Dell buyout deal even further (despite saying their last offer would be best and final), keeping the price at $13.75 (£9.08) per share but offering a 13-cent-per-share special dividend. In exchange Michael Dell and Silver Lake would receive the voting modifications they asked for, [...]