Anglo American could be forced to cut dividend September 20, 2015 ANGLO American is believed to be preparing to cut its dividend after months of volatility in the commodities market. Boss Mark Cutifani has been meeting with investors and warning them that continued low prices could necessitate a reduced payout. The miner maintained its interim dividend in July, surprising analysts who had forecast a cut given [...]
Small firms are owed billions in late payments and the figure is climbing September 20, 2015 The problem of late payments that is straining the finances of many of the UK’s smaller firms is getting worse, according to new figures. British small and medium-sized enterprises (SMEs) are owed £67.4bn in unpaid invoices, up eight per cent from this time last year, the Asset Based Finance Association (ABFA) said today. However, ABFA [...]
Miner to make new banking arrangements September 20, 2015 SWITZERLAND based mining group Ferrexpo is expected to hold a board meeting this week to deal with the fallout from Ukraine’s national bank declaring Bank Finance and Credit (Bank F&C), which holds most of the company’s cash, insolvent. Shares in Ferrexpo plunged by 32 per cent when news of the bank’s insolvency was revealed on [...]
Bank of England to reveal bond market findings September 20, 2015 THE BANK of England’s financial policy committee (FPC) is set to reveal the results of a six month investigation into bond markets this week amid fears of diminishing liquidity in the sector. The FPC will meet on Wednesday to discuss its findings as the Bank seeks to limit the effects of potential financial shocks linked [...]
All change: the FTSE newbies start trading September 20, 2015 IT IS a big day for Berkeley Group as today is its first day of trading on the blue-chip FTSE 100 index, having been promoted in the London Stock Exchange’s quarterly review. The quarterly review changes to the FTSE, as well as Germany’s Dax and France’s Cac indices, which were announced earlier this month come [...]
City Moves for 21 September 2015 | Who’s switching jobs September 20, 2015 LEGAL & GENERAL PROPERTY Stephen Murden has been appointed residential development manager in Legal & General Investment Management’s real assets division. He joins from CBRE, where he was director of development and project management. Murden has 15 years’ experience in the sector. ICBC STANDARD BANK Raj Kumar has been appointed head of precious metals business [...]
Best of the Brokers for 21 September 2015 September 20, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com HSBC is an attractive buy at the current price, analysts at Berenberg said. The recent sell-off in HSBC shares seems to be a case of Deja Vu, mirroring the events of 1997-8. HSBC underperformed European banks by 50 per cent over that period [...]
Manufacturers set for boost on positive data – London Report September 20, 2015 MANUFACTURERS could be set to receive good news on activity during September, although this may be tempered by the fact that foreign orders are still limited, while the public sector’s finances also improved slightly over the summer. Public finances data out tomorrow is expected to show ongoing year-on-year improvement in August. Economists estimate that public [...]
Fed’s decision gives housing stocks a boost – New York Report September 20, 2015 THE FEDERAL Reserve’s decision not to hike interest rates may have brought renewed volatility and a stock market selloff, but it also carved out breathing room for a couple of sectors: dividend payers and housing stocks. With 10-year Treasuries now yielding around 2.14 per cent, the 2.2 per cent dividend yield of the overall S&P [...]
City comes together again to raise funds for our heroes September 20, 2015 It’s that time again – when the cream of the culinary world are pulling out all the stops to lay on a lavish bash to raise funds for our service men and women and their families. This time Square Mile Salute are recreating the exclusive world of The Birley Clubs in the City’s historic seat [...]
