ITM Power stock price drops after disappointing forward guidance August 15, 2024 Green hydrogen firm ITM Power’s revenue tripled from £5.2m last year to £16.5m, but the group’s stock price was hit by a downgrade in forward guidance. The power company made an adjusted operating loss of £30.4m over the last year, it reported in its preliminary results, down from a whopping £94.2m in the previous year. [...]
JLEN Environmental Assets sells off £68m in assets to pay debts and launch share buyback August 15, 2024 JLEN Environmental Assets Trust has sold off half of its anaerobic digestion portfolio to Future Biogas for £68.1m. The trust, which invests in environmental infrastructure assets, sold the facilities at their June valuation. After the deal, it will continue to own the other 49 per cent of its anaerobic digestion portfolio. Future Biogas is a [...]
Empiric Student Property rental growth strong as re-booking set to reach record high August 15, 2024 Empiric Student Property’s like-for-like rental growth hit 10.5 per cent in the first half of its 2024 financial year as the demand for student property exceeded demand. The firm, which owns and operates student accommodation at top UK universities, reported revenue growth of 2.7 per cent over the six months to 30the June. Adjusted earnings [...]
UK confidence in financial inclusion plummets despite strengthening economy August 15, 2024 People in the UK are feeling significantly less financially included than they used to be, City A.M. can reveal, as the pressure of the cost of living crisis continues to weigh on the public . The proportion of people who say they feel financially included in the UK has dropped to only 56 per cent [...]
US inflation dips to three-year low August 14, 2024 US inflation reached its lowest since March 2021 in July, coming in at just 2.9 per cent and further strengthening the case for an interest rate cut from the Federal Reserve. Analysts had expected US inflation in July to come in at three per cent, unchanged from where it had fallen to in June. While [...]
Beachside buying: One in six DIY investors pick portfolios by the pool August 14, 2024 One in six do-it-yourself UK investors are indulging in sun,sand, and stockpicking by managing their portfolios at the poolside, new research has revealed. Some 20 per cent of male investors and 11 per cent of female investors admitted to buying and selling stocks by the pool, according to a 1,000 person study from digital investment [...]
Private equity giant CVC makes ‘strong recovery’ as capital deployment ramps up August 14, 2024 Private equity giant CVC saw activity tick up in the first half of the year, recovering from a quiet 2023 as money finally began to flow into its investments. The Six Nations owner beat expectations with fee-paying assets under management at 127.5bn euros, two per cent ahead of analyst expectations, it revealed in a half-year [...]
City grandee Martin Gilbert tries to sell Assetco share split plan August 14, 2024 Assetco chair Martin Gilbert is attempting to pitch his plan to split his company to investors in a bid to turn around the struggling asset manager. In June, Gilbert proposed that Assetco will be rebranded as River Global, with its 30 per cent stake in investment management and platform business Parmenion spun off. Now, Gilbert [...]
UK inflation comes in below expectations in July August 14, 2024 UK inflation jumped back above the Bank of England’s two per cent target in July, but came in below City estimates for the period. According to figures released this morning by the Office for National Statistics (ONS), prices rose 2.2 per cent in July. Meanwhile, core inflation, or price rises excluding volatile food and energy [...]
Two-thirds of alternative fund managers hit with fines over governance failures August 13, 2024 Two-thirds of alternative fund managers have been hit with fines or sanctions in the last two years due to governance failures, new research has revealed. Alternative funds managers, which focus on markets beyond stocks and bonds such as property, private equity and infrastructure investing, are increasingly under pressure to up their governance ability, Bovill Newgate [...]
