Best of the Brokers for 23 September 2015 September 23, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com AGGREKO UBS cut its target price for generator hire company Aggreko from 1,675p to 1,050p, but maintained their “hold” rating. Forecasting a 14 per cent year-on-year decline in profits, analysts blamed the renewal of a large Bangladesh contract at lower terms and challenges [...]
Weak metal and oil prices drag the FTSE down – London Report September 23, 2015 WEAKER oil and metals prices weighed on commodity stocks, while motor insurer and repair group AA slumped after posting lower earnings, driving shares into retreat yesterday. The blue-chip FTSE 100 index was down 2.8 per cent at 5,935.84 points at its close, slightly outperforming European indexes. AA, part of the FTSE 250 mid-cap index, fell [...]
British American Tobacco turns to ecigarettes to stay ahead but share price closed on five-day low September 23, 2015 British American Tobacco (BAT) yesterday signed a conditional agreement to buy ecigarette manufacturer CHIC for an undisclosed sum. BAT hopes to extend its reach through Europe and expand beyond its tobacco cigarettes to make the most of the growing ecigarette movement – which are widely viewed as a healthier option. CHIC, Poland’s e-cigarette market-leader, makes [...]
Report: MPs should not be paid to lobby September 23, 2015 A NEW report out this week is calling for MPs to be banned from doing all paid advisory and consultancy work relating to parliamentary business. The anti-corruption group Transparency International UK argues that the rules surrounding MPs lobbying on behalf of private business are “not fit for purpose”, adding that there is a “significant risk [...]
Student spending on the rise as living costs shoot up in the UK September 23, 2015 Student spending could reach its highest ever level this academic year, and may hit over £30bn in total for 2015, according to research from Experian Marketing Services. Students in Manchester are predicted to spend over £1.1bn over the course of this academic year, while Nottingham will see a total student spend of around £800m. According [...]
City old-boys rock band split had nothing do to with PwC says bassist September 23, 2015 Former City rock star and PwC advisor Andrew Sentance has denied claims that the accountancy giant came between him and his work with group Rock In The City. Sentance split from Rock In The City, a group of senior financiers singing all about the daily lives of the Square Mile’s economists, earlier this month. The [...]
Chinese like the UK but British brands need a lift September 23, 2015 I'm writing this while travelling on the Chancellor’s business and culture delegation to China. The purpose is to grow stronger links with what will long remain the world’s fastest-growing economy. Both western and local companies will increasingly need good marketing data, which is why YouGov has established offices in Shanghai and Hong Kong and [...]
Eurozone shoppers in good spirits despite September dip in sentiment September 23, 2015 Consumer confidence in the Eurozone has dipped this month to its second lowest level of the year, according to preliminary figures published by the European Commission (EC) yesterday. The EC’s confidence indicator slipped 0.2 points to a score of minus 7.1. Despite the negative figure, confidence remains at levels consistent with spending growth and is [...]
Sadiq Khan: Can a Labour mayor make City Hall pro-business? Labour mayoral candidate on what separates him from Jeremy Corbyn September 23, 2015 Sitting in a cafe around the corner from the Labour party’s headquarters in Westminster, Sadiq Khan says that he and the new Labour leader, Jeremy Corbyn, are not always in agreement. “Ken Livingstone as the Labour mayor often disagreed with the Labour leadership, Boris Johnson as the Conservative mayor often disagreed with the Conservative [...]
Volkswagen car recall emissions scandal: VW boss Martin Winterkorn clings on as heat rises September 23, 2015 Volkswagen chief executive Martin Winterkorn will today face the company’s supervisory board to explain his role in the emissions scandal engulfing the carmaker, amid reports his job is on the line. Last night New York Attorney General Eric Schneiderman issued a statement confirming his office would be investigating Volkswagen. He said: “No company [...]
