Restaurant Group shareholders voice anger over £600m Wagamama price tag November 20, 2018 Nervous investors have raised concerns over the price of the Restaurant Group’s (TRG) proposed £600m acquisition of Wagamama as a major shareholder announced its intention to vote against the deal. Columbia Threadneedle, which owns 7.7 per cent of TRG, will oppose the proposal at a shareholder vote next week, it announced today. Frankie and Benny’s owner [...]
Shareholder slams Johnston Press rescue plan as pensions put at risk November 18, 2018 A deal to buy publishing company Johnston Press out of administration puts jobs and pensions at risk, according to the publisher’s largest shareholder. Custos Group chief executive Christen Ager-Hanssen criticised a pre-packaged sale that sees ownership transferred to JPI Media, a newly-formed company owned by the bondholders of Johnston Press, including American hedge fund Goldentree [...]
Former London Stock Exchange chief Xavier Rolet close to City return with hedge fund CQS November 17, 2018 Former London Stock Exchange (LSE) chief executive Xavier Rolet is in advanced talks to become a co-chief executive at leading hedge fund manager CQS. The Frenchman left his job at the LSE Group in contentious circumstances last year, after being asked to step down by the board a year earlier than planned in a bid to end [...]
Asset managers back Big Four audit firms in competition watchdog consultation November 15, 2018 Investment management firms have called on the competition watchdog to ensure the quality of audit is not affected as it probes the dominance of the so-called Big Four firms. In a response to the Competition and Markets Authority Standard Life said the division of the dominant audit firms – PwC, Deloitte, KPMG and EY – [...]
US midterm elections: Is gridlock good? November 14, 2018 | City Talk Further tax cuts unlikely but will Trump strike a deal on trade? Keith Wade, Chief Economist, says: “The midterm elections restored some faith in opinion polls with the Democrats taking the House of Representatives and the Republicans holding the Senate. Conventional wisdom has it that a gridlocked Congress is good for markets as it prevents [...]
Jobs will stay in City after Brexit, says top asset manager November 8, 2018 Jobs will not leave the City of London in huge numbers after Brexit, the head of one of the country’s biggest asset managers has said. Martin Gilbert, the co-chief executive of Standard Life Aberdeen, said he is “positive” about the City’s future, and believes Dublin will be the big winner as jobs are created there [...]
Asset manager Janus Henderson revenue loss driven by performance fee drop November 1, 2018 A decline in UK and European fund performance drove a revenue drop at asset management firm Janus Henderson in the third quarter. Revenue fell from $477.7m (£369.7m) in the second quarter to $468.9 between July and September this year following a dip fees after several large European equity strategies, absolute return products and mutual funds performed [...]
These are the 10 projects vying for the title of London’s greatest infrastructure achievement October 26, 2018 The 10 projects in the running to be named London's greatest infrastructure achievement for this year have been revealed. The Institution of Civil Engineers has released the shortlist of 10 projects being considered for the top accolades, with awards being given out next month for the best infrastructure project, innovation, and community benefit. All projects [...]
The FCA cannot afford to focus on Brexit alone October 25, 2018 It has been a mixed few months for the City's watchdog. On the one hand, the Financial Conduct Authority (FCA) has delivered long-awaited reforms to the asset management industry, while its chief Andrew Bailey has made several strong interventions in the Brexit debate, such as pointing out the absurdity of EU negotiators attempting to rule [...]
Blackrock’s European regional headquarters to stay in the UK after Brexit October 24, 2018 Wealth management firm Blackrock is poised to keep its largest European regional operations headquarters in the UK after its exit from the European Union, moving "only very few" jobs to other offices on the continent. The world's largest asset management firm currently manages operations for the Europe, Middle East and African (EMEA) region from its UK [...]