DX pounces as City Link starts asset fire sale January 6, 2015 CITY Link administrator Ernst & Young yesterday kick-started a fire sale for the beleaguered parcel delivery service’s assets, as it attempted to recoup some of the investment of private equity owner Better Capital. Rival delivery firm DX completed the purchase of £1.125m worth of assets that included cages, scanners and certain intellectual property. Petar Cvetkovic, [...]
High street stores lose sales to Black Friday and good weather January 6, 2015 BLACK Friday led to a slump in December’s retail sales, according to the latest BDO High Street Sales Tracker. Mid-market retailers saw sales drop by 1.4 per cent year-on-year, the fashion sector taking the biggest hit with a 6.1 per cent reduction in the last week of 2014. Sales of lifestyle goods went up by [...]
Skills shortage and higher pay are hurting London companies January 6, 2015 London’s businesses want to grow to match the recovering economy, but are being held back by a lack of skilled workers, according to study out yesterday from the London Chambers of Commerce and Industry (LCCI) and ComRes. Growth will improve this year, according to 42 per cent of businesses in the capital. As a result, [...]
L&G and Dutch pension firm pay £370m for UK property portfolio January 6, 2015 FUND manager Legal & General Property (LGP) yesterday paid £370m for the Bishopsgate Long Term Property Fund Unit Trust, along with Legal & General Capital (LGC) and Dutch pension fund manager PGGM. The newly acquired trust holds a portfolio of 24 commercial properties across the UK, including two London offices in Covent Garden and Kensington. [...]
City Moves for 07 January 2015 | Who’s switching jobs January 6, 2015 Dexion Capital The alternatives investment bank has appointed Magnus Spence as head of asset management. He has over 20 years’ experience, and has held roles at Mercury Asset Management/Merrill Lynch Investment Managers. Spence co-founded Dalton Strategic Partnership in 2002. Falcon Group The specialist financier has appointed Nick Gowlland as chief financial officer. He has previously [...]
Best of the Brokers for 07 January 2015 January 6, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com STAFFLINE GROUP FinnCap reiterated its “buy” rating, after an update from the company confirmed that full-year earnings will be in line with market expectations. The broker noted that all of the firm’s divisions had traded well, with key contract wins in both the [...]
FTSE 100 slips on weak British economic data – London Report January 6, 2015 UK SHARES fell for a third-consecutive session yesterday, and the pound traded lower against the dollar, as weaker-than-expected economic data weighed on British assets. The blue chip FTSE 100 fell 0.8 per cent, or 50.65 points, to 6,366.51, bringing its three-day loss total to three per cent. The index fell two per cent on Monday, its [...]
Wall Street on slide for fifth day in a row – New York Report January 6, 2015 WALL STREET ended lower for a fifth session yesterday as data showed slower growth in the US service sector and oil prices fell further. The S&P 500’s losing streak was its longest in about 13 months, but the index ended off the day’s lows, having fallen as much as 1.4 percent earlier, at one point breaking [...]
Staying tax savvy: What you can do before the year ends January 6, 2015 A focus on capital gains tax may well mean a better deal. With the new year having firmly arrived, and the end of the tax year just three months away, now is an ideal time to blow the cobwebs away and ensure your money is working as hard as possible – by getting your [...]
Maximising your tax efficiency is vital – but beware sneaky fees January 6, 2015 IT’S A new year and, in the financial world, our thoughts are turning to the next big milestone – the end of the tax year. Running from 6 April every year, an arbitrary date, the “TYE” has a history packed with calendar blunders and political-religious significance. Aside from the guts and the glory, it also [...]
