Venezuela McDonald’s has had its chips as it battles US action January 7, 2015 FAST food giant McDonald’s has run out of french fries at its Venezuelan restaurants. The company has blamed contract disputes with dock workers for halting the export of frozen fries from the US to Venezuela. One City worker who hails from Venezuela told City A.M. that although he was dismayed by the news that McDonald’s [...]
Interserve shares up ahead of 2014 results January 7, 2015 SHARES in construction group Interserve jumped by 3.11 per cent yesterday after the firm announced it expected to deliver full-year results in line with expectations at the end of next month. The firm stated that the integration of Initial Facilities, which it bought from Rentokil for £250m in March last year, was “well advanced”. It [...]
City Moves for 08 January 2015 | Who’s switching jobs January 7, 2015 Investec The bank’s corporate and institutional banking division has announced the appointment of Florian von Hartig as head of debt capital markets. He joins after nine years at Standard Bank, where he was global head of debt primary markets. JLL UK The real estate-focused professional services and investment management firm has appointed two new sustainability [...]
Best of the Brokers for 08 January 2015 January 7, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com GREEN DRAGON GAS Cantor Fitzgerald reiterated its “buy” rating, following the firm’s announcement that it had placed a work order for Greka drilling to begin work on 30 new well sites. The broker said it was “encouraging” that the company had commenced its [...]
FTSE rebounds on expectations of European QE – London Report January 7, 2015 Britain’s top equity index gained nearly one per cent yesterday, rebounding from a three-week low as Eurozone consumer price data raised expectations of new stimulus from the European Central Bank. The blue chip FTSE 100 index, which had fallen in the last three sessions and hit its lowest since mid-December on Tuesday, finished 53.32 points, [...]
Wall St up as Fed signals no rate hike hurry – New York Report January 7, 2015 US STOCKS rebounded yesterday from five straight sessions of losses after strong private sector jobs data and as minutes from the most recent Federal Reserve meeting reassured investors the bank was in no hurry to start raising interest rates. The Dow Jones industrial average rose 212.88 points, or 1.23 per cent, to 17,584.52, the S&P [...]
Why London’s world-beating position in global insurance is now under threat January 7, 2015 A new piece of research into the competitiveness of the London insurance market, released by the London Market Group late last year, confirmed many existing fears. The capital’s position as a world leader in insurance is under threat, and it’s critical that we confront – with the support of the UK government – the challenges [...]
Why QE alone won’t stop the Eurozone’s descent into the deflation trap January 7, 2015 We’re caught in a trap” is the opening line of Suspicious Minds, a song most memorably sung by Elvis Presley, born 80 years ago today. However, it could well be the latest conversational ice-breaker for Mario Draghi, president of the European Central Bank (ECB), with colleagues or other policymakers across the continent. Europe risks entering [...]
8.6m Londoners is a sign of the capital’s success: It’s now time to plan for 10m January 7, 2015 Any day now, the glitter cannons will be fired and the corks popped as London reaches a new milestone, surpassing its 1939 population peak of 8.6m. This isn’t just a number, it’s a validation of London’s success as the world’s business and talent hub, as well as a centre for creativity and innovation. But even [...]
After talks with Angela Merkel, is David Cameron’s quest for EU renegotiation doomed to failure? January 7, 2015 Ruth Lea is economic adviser to the Arbuthnot Banking Group, says Yes Very little was expected from Chancellor Angela Merkel’s latest visit. But putting that aside, there have to be major doubts that any renegotiation of the terms of the UK’s EU membership would amount to much, however badly some of us would like to [...]
