Abercrombie & Fitch feels the pinch December 3, 2014 STRUGGLING clothing retailer Abercrombie & Fitch cut its full-year profit forecast yesterday as higher discounts and efforts to refresh its merchandise by dropping its logo-centric approach failed to attract young customers.
Glynn leaving as Ladbrokes hunts new chief December 3, 2014 GAMBLING firm Ladbrokes announced yesterday it was on the hunt for a new chief executive, with current boss Richard Glynn set to relinquish the role next year. The FTSE 250-listed company said that Glynn’s mandate at Ladbrokes, since his appointment as CEO in April 2010, had been to implement a re-engineering of its operational and [...]
CME bolsters GFI bid offer December 3, 2014 US FUTURES market firm CME Group yesterday increased its previously agreed bid for New York-based derivatives broker GFI Group to match compatriot inter-dealer broker BGC Partner’s hostile offer. CME has now raised its cash-and-stock offer to $5.25 per share to match BGC’s all-cash tender offer for the 86.5 per cent of GFI that it does [...]
Triumph for Trumpets as orchestras to benefit from theatre ruling December 3, 2014 YESTERDAY’S statement was music to the ears of the UK’s orchestras. The Theatre Tax Relief, which came into effect on 1 September, in a bid to boost the live performing arts economy, was extended to orchestras as part of the Autumn Statement.
Driverless cars given green light in London December 3, 2014 Driverless cars will start roaming the streets of London, Bristol, Coventry, and Milton Keynes from January, as part of government plans to establish “driverless car testbeds” backed by £19m in state funding. Google has led the charge with driverless car trials in the US, but yesterday’s announcement is aimed at keeping the UK at the [...]
Autumn Statement 2014: Reactions to George Osborne’s announcement – from the City economist to the property expert December 3, 2014 THE BUSINESS GROUP Confederation of British Industry director general John Cridland Growing firms will benefit from business rates reform. We welcome continued commitment to deficit reduction. “These major changes on stamp duty and business rates will be a shot in the arm for families and growing firms as they look towards 2015. [...]
Autumn Statement 2014: What does George Osborne’s budget mean for you? From single parents to entrepreneurs December 3, 2014 THE SINGLE PARENT Catherine Gannon, 51 Managing partner of law firm Gannons Gannons Commercial Law continues to perform extremely well as profits and earnings increase on last year. Catherine is commercially savvy and has recently restructured the business from an LLP to a Limited Company due to the new Legislation covering LLPs. This illustrates that [...]
Best of the Brokers for 04 December 2014 December 3, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com GENEL ENERGY Westhouse Securities reiterated its “buy” rating following the news that Kurdistan and Iraq had reached agreement on oil exports and budget. The broker stated that the company was “best positioned to benefit from these positive developments in Kurdistan”. BAE SYSTEMS Besi Research [...]
FTSE falls back but airlines soar after Osborne’s tax cut – London Report December 3, 2014 LONDON’S top share index edged down from a one-week high yesterday, with moves in stocks exposed to measures announced in the Autumn Statement dominating in an otherwise quiet session. The blue chip FTSE 100 index closed down 0.4 per cent at 6,716.63 points. Large-cap airlines easyJet, up 2.46 per cent at 1,668p, and British Airways [...]
Another day, another record – New York Report December 3, 2014 US STOCKS rose on yesterday, with both the Dow and S&P 500 ending at records, as data pointed to improving conditions in the American services sector, boosting cyclical stocks. The Dow Jones industrial average rose 33.07 points, or 0.18 per cent, to 17,912.62, the S&P 500 gained 7.78 points, or 0.38 per cent, to 2,074.33 [...]
