UBS and Deutsche in ‘serious’ talks over asset management merger April 24, 2019 The asset management divisions of Deutsche Bank and UBS are in “serious” talks over a potential merger, according to reports. The combined businesses would have more than €1.4 trillion (£1.2 trillion) of assets under management, overtaking Legal and General in the UK and France’s Axa to create a rival to Amundi, which is Europe’s largest [...]
WH Smith: High-flyer divides City April 24, 2019 | City Talk By Graeme Evans from interactive investor. Latest results are fuel for another assault on a record high. Here’s why Smith splits the Square Mile. With £1 billion worth of dividends or buybacks since 2007, WH Smith (LSE:SMWH) shareholders can have few complaints about the retailer’s tried and tested strategy when it comes to selling stationery, [...]
Former UBS officer had ‘no motive and no money’ in alleged insider trading deals, court hears April 23, 2019 A former UBS compliance officer accused of insider trading had “no motive and no money” pegged to the alleged crime, a court has heard. Fabiana Abdel-Malek has been accused of disclosing price-sensitive information regarding five company takeovers to her family friend and trader, Walid Choucair, between June 2013 and June 2014, allowing him to make [...]
Superdry appoints new broker after mass exodus prompted by Dunkerton’s return April 17, 2019 Superdry has appointed Jefferies as its new corporate broker and financial advisor following a mass exodus from the firm after the retailer’s founder was reappointed to the board. Investors narrowly voted in favour of allowing Julian Dunkerton to return to the board earlier this month, prompting the resignations of former brokers UBS and Investec. Read [...]
Asset management firms urged to increase stewardship efforts April 16, 2019 Asset management firms have been urged to increase the level of engagement and guidance with the firms they invest in. Institutional investors only have “one-hand” on the wheel in regards to stewardship, advisory firm Willis Towers Watson warned in a report published today. Read more: Tatton Asset Management shares plummet as consulting arm under pressure The [...]
Can European banks be saved by mergers and a fresh round of deal making? April 16, 2019 The comparisons with US peers just got a lot harder for European banks after a strong showing from JP Morgan to kick off earnings season. But could there be fresh revenue on the way for European investment banks, even if it is of their own making? There’s a mooted capital raising for Deutsche Bank before [...]
Lloyds Bank stars as FTSE 100 rockets in Q1 April 9, 2019 | City Talk By Graeme Evans from interactive investor. After a great first quarter for stock markets, we assess the best and worst blue-chips of 2019 so far. It’s been a storming start to 2019 for the FTSE 100 index, with popular interactive investor stocks including Lloyds Banking Group (LSE:LLOY), Next (LSE:NXT) and Tesco (LSE:TSCO) among those on [...]
European car makers face €7.4bn bill to meet looming EU emissions rules April 3, 2019 The biggest car manufacturers in Europe are careering towards a €7.4bn crash in profits from the cost of meeting the EU’s emissions rules, UBS has warned. Regulations set to come into effect in 2021 will force car firms such as Volkswagen, BMW and Renault to produce no more than 95g of CO2 per kilometre, but [...]
Superdry shares dive after board exodus April 3, 2019 Superdry shares dived in morning trading as investors digested yesterday’s investor vote which saw the return of co-founder Julian Dunkerton and a dramatic board exodus. Shares in the troubled retailer fell 11 per cent to 445p this morning, adding to an eight per cent drop which the company suffered yesterday before markets closed. Read more: [...]
Superdry board in mass resignation as Dunkerton takes the reins April 2, 2019 Superdry suffered a boardroom exodus tonight after the troubled retailer’s co-founder won an audacious bid to reinstall himself onto the firm’s board. In a shock move this evening, Superdry’s entire board – including its chief executive and chairman – revealed plans to step down after Julian Dunkerton won an investor vote which will see him [...]