City Moves for 4 February 2016 | Who’s switching jobs February 4, 2016 Alpha Capital Markets Financial trading company Alpha Capital Markets has announced a new executive team. Muhammad Rasoul has been appointed the new chief executive, Kurt Hoeksema is chief trader and risk officer, and sales duo Roger Hambury and Scott Sandat are heads of global sales. They will join current executive chairman, Tony Afram and chief operating [...]
Metro Bank float may take the (dog) biscuit February 4, 2016 How much is a dog biscuit worth? A lot, if you believe the contents of documents sent to shareholders in Metro Bank ahead of its listing on the London Stock Exchange in March. Since its launch six years ago, the first new lender to hit UK high streets in more than a century has done a [...]
Sainsbury’s bid for Argos parent company Home Retail Group is baffling investors: Mike Coupe must explain the maths behind the deal February 4, 2016 "When my information changes, I change my mind. What do you do?” This old quotation (which may or may not have been uttered by economist John Maynard Keynes) came to mind yesterday when investment giant Old Mutual said it would accept Sainsbury’s 161.3p per share offer for Home Retail Group, despite previously arguing that any [...]
GoPro share price loses 9.34 per cent after revealing plummeting sales February 3, 2016 Camera manufacturer GoPro has posted a 31.1 per cent decline in sales for the final quarter of 2015, down to $436.6m (£299.3m) from $633.9m, missing analysts' expectations of $496.1m. Shares in the company dropped by over nine per cent in after hours trading, and at the close yesterday were down by more than 80 per cent over [...]
XL Group profit jumps in 2015 following acquisition of Lloyd’s insurer Catlin February 3, 2016 Insurer XL Group has reported profit of $228.5m (£156.6m) for the final quarter of 2015, up from $139.5m in the same period of 2014, while profit for the full year increased to $1.2bn from $188.3m in the preceding 12 months. The Dublin-based, New York-listed firm, which purchased Lloyd's insurer Catlin Group for £2.7bn last year, posted gross [...]
General Motor share price falls as car giant reports record quarterly and yearly profits February 3, 2016 Shares in US car manufacturer General Motors (GM) have dipped by as much as five per cent today, despite the company posting a record yearly profit of $9.7bn (£6.6bn) in 2015 – up from $2.8bn in 2014. Revenue for the quarter was flat at $39.6bn while full year revenue dipped to $152.4bn from $155.9bn. “It was [...]
Comcast posts 8.3 per cent jump in revenue as it adds 89,000 new video customers February 3, 2016 US media group Comcast reported an 8.5 per cent increase in revenue during the final quarter of 2015, up to $19.25bn (£13.16bn) from $17.73bn – and beating analysts' expectations of $18.76bn. Revenue for the full year was up 8.3 per cent to $74.5bn from $68.8bn, and operating income grew 7.3 per cent from $14.9bn to $16bn. The [...]
Mondelez International share price drops as currency issues eat into snacks group’s sales February 3, 2016 Mondelez International, the parent company of several snack brands including Cadbury, Belvita and Milka, posted a 16.6 per cent dip in sales during the fourth quarter of 2015, down to $7.36bn (£5.04bn). This represents the ninth consecutive quarter of decreased revenue for the group. Europe put in a particularly bad performance, with sales down 31.8 [...]
EU referendum: Cameron’s EU deal just doesn’t go far enough – and Donald Tusk’s letter is little more than a press release February 3, 2016 Yesterday, we warned that David Cameron’s EU renegotiation was at risk of ignoring vital questions about the future of the UK’s financial services. A focus on immigration and benefits has overshadowed the hugely vital issue of how the rest of Europe views financial regulation and what implications this has for dominance of the City. It [...]
City Moves for 3 February 2016 | Who’s switching jobs February 3, 2016 Parker Fitzgerald Parker Fitzgerald (PFG), the management consultancy, has appointed Jeremy Scott to its executive board as head of institutional relationships. Jeremy is former global financial services leader and global board member at PwC for 10 years and he was chair of the operations and risk committee. His experience building and managing an international consulting [...]
