Best of the Brokers December 20, 2012 SPORTECH Peel Hunt yesterday raised its guidance from “hold” to “buy” due to the betting company’s £7.6m acquisition of US horce racing firm eBet. It raised the target price from 70p to 78p. DIAGEO JP Morgan Cazenove has uploaded the drinks company from “underweight” to “neutral” on an improved pricing environment in the US. Target [...]
CITYA.M. Guide to givers 2012 December 20, 2012 Welcome to City A.M’s second annual Guide to Givers, bringing to the limelight business individuals and organisations that have donated not just their resources, but also their time and effort towards improvements for those less fortunate than themselves. As belts are being tightened, public charitable spending is understandably at a significant low point, putting emphasis [...]
Private philanthropy is more crucial than ever before December 20, 2012 It is widely recognised that this is a tough time for the charity sector in the UK. Public donations to charities have fallen by 20 per cent in real terms in the past year, with £1.7bn less being given. £81bn in spending cuts will also have far-reaching consequences, with a third of charities’ funding (£13.9bn) [...]
20 of the world’s largest donors December 20, 2012 1 BILL AND MELINDA GATES FOUNDATION US The Bill and Melinda Gates Foundation was formed in 2000 through the merger of the William H. Gates Foundation and the Gates Learning Foundation, adopting their previous agendas of improving global health and education. With offices in the US, India, China and UK, the foundation has a global [...]
Ten top City of London givers December 20, 2012 MICHAEL SPENCER BROKING The Icap Charity Day celebrated its 20th anniversary this December, raising £11m for charities in the process. The annual pre-Christmas event is a celebrity-studded occasion on which all revenues and commissions from the world’s leading interdealer broker are donated. Chief executive Michael Spencer has played a major role in the success of [...]
Putting philanthropy at the top of the City’s agenda December 20, 2012 Look out your office window and you will see a “philanthroscape” – the City’s bridges, hospitals, schools, prisons, alms houses and churches we walk past everyday were built on the donations of the wealthy businessmen of yesteryear, including its most famous lord mayor Dick Whittington. The City’s rich philanthropic tradition continues today – but quietly. [...]
What the autumn statement means for property players December 20, 2012 Chancellor OF the exchequer George Osborne’s autumn statement, released last month, included a £5.5bn infrastructure package, bringing infrastructure investment to £33bn a year. The funding includes support for long-term private investment in new roads, science, free schools and academies. Osborne also opted to keep property taxes and the rate of stamp duty unchanged, something some [...]
For large home owners it’s heads I win tails you lose December 20, 2012 DIRECTOR, DOUGLAS AND GORDON Q There was a lot to read in the autumn statement. I live in a big house and need to know if I have anything to worry about. A To find out if you are going to be liable for a new levy, you will have to look at your property [...]
ICE snaps up NYSE Euronext in $8.2bn deal December 20, 2012 IncontinentalExchange (ICE) has today agreed an $8.2bn (£5bn) cash and shares deal to buy NYSE Euronext. Atlanta-based ICE will acquire the New York Stock Exchange owner to create a “premier global exchange operator” across markets including commodities, credit derivatives, equities and foreign exchange. The transaction is valued at $33.12 for each NYSE Euronext share, a [...]
Santa rally stumbles as FTSE 100 flat December 20, 2012 The Santa rally stumbled this morning, as the blue chip index remained flat in early trading, stalled by tensions in US budget talks. Yesterday, the FTSE 100 closed just four points behind the year’s highest closing mark. The ongoing Libor scandal, which continued in the spotlight for another day as two UBS traders were charged, [...]