Former Standard Life director in line for top governance position at Woodford’s fund June 14, 2016 Neil Woodford, the star City investor, is set to name ex-Standard Life director Marcia Campbell as the next chair of its oversight board. Campbell – who held various roles at Standard Life over the course of two decades, including running its operations in the Asia-Pacific region – will replace Mary Reilly, who has beenin the job since the position was created in 2014. [...]
Before the bell: What you need to know before the US market open June 14, 2016 Brexit fears are dragging down markets and Germany's 10-year bond yield has turned negative. Here's what you need to know before the market open at 14:30 London time. US futures are pointing down again today, suggesting the bad start to the week is going to continue. The S&P is off by 0.22 per cent. The Nasdaq is 0.26 [...]
Time Out’s share price flops on London market debut June 14, 2016 Time Out Group, the 48-year-old city guide publisher turned food market owner, is not having the best start to its life as listed company. Shares fell as low as 133p, more than 10 per cent below its 150p flotation price, this morning. There was a slight up-lift directly after the open but it could not be [...]
GlaxoSmithKline is going to lose another senior manager at the same time as chief executive Andrew Witty June 14, 2016 GlaxoSmithKline's long serving head of vaccines Moncef Slaoui has announced he will leave the company in 2017. Slaoui will step down from the board at the end of March 2017, following the companies full year results. He will, however, remain an adviser until the end of June next year. Slaoui joined GSK in 1988 and became a board member in [...]
London now has one millionaire for every 29 inhabitants as Monaco tops millionaire chart June 14, 2016 London now has one millionaire for every 29 inhabitants, or 3.4 per cent of the population, new research has revealed. The UK capital has climbed from sixth to fifth place in a ranking of the world's top cities per capita for people with net assets worth $1m (£0.7m) or more, excluding the value of their main house. London rival New York [...]
At current pace we won’t hit 30 per cent female representation at executive committee level in financial services until 2048 June 13, 2016 The battle for equality in the financial services boardroom is struggling to make progress globally. Only one-fifth (20 per cent) of company boards and 16 per cent of executive committees in financial services are comprised of women, according to a report from management consultancy, Oliver Wyman. This is only a slight improvement in both categories since the report [...]
M&A activity into the UK fell by 42 per cent at the start of the year, but was up over 100 per cent for the rest of Europe June 13, 2016 The first quarter of 2016 was pretty bad for inbound UK merger and acquisition (M&A) activity. Deal values decreased by 42 per cent from $51.4bn (£36.1bn) in the first three months of 2015 to $30bn in the same period this year, according to analysis from Deloitte. During the same period in the rest of Europe, M&A investment increased from $35.6bn [...]
At the close: FTSE 100 sinks as Brexit fears send sterling to two month lows June 13, 2016 Resource stocks made up the majority of only a handful of risers on the FTSE 100 today as investors fretted over Brexit and sterling took a beating. The FTSE 100 closed at 6,044.97 – down 1.16 per cent on the day – and at its lowest level in three months. In March it was trading as low as 6,036, though had [...]
Schneider rekindles take-over talks with Aveva after share price rebound June 13, 2016 French industrial group Schneider Electric has rekindled talks to acquire a majority stake in Cambridge-based engineering software developer Aveva. It's thought the deal could be agreed by the end of the month. It's Schneider's second attempt to strike a deal after talks between the two companies collapsed back in December last year. At the time Schneider said a merger would create "significant" challenges "that [...]
Opec keeps global oil demand forecast unchanged, sending the price of oil off its recent highs June 13, 2016 The one-time global oil cartel Opec (the Organization of the Petroleum Exporting Countries) has kept its forecasts for global oil supply and demand unchanged. The 13-member oil producing group reckons the second half of 2016 will continue to see oil markets rebalancing after the price of oil almost doubled in the first six months of the year – from [...]
