Dow soars to record high – New York Report November 18, 2014 THE DOW and S&P 500 closed at record highs yesterday, lifted by further gains in healthcare shares and hopes for a stronger global economy. The S&P 500 scored its fourth straight day of gains. The Dow Jones industrial average rose 40.07 points, or 0.23 per cent, to 17,687.82, a record high. The S&P 500 gained [...]
It’s maddening that investment charges are still so complicated November 18, 2014 THIS week, the Financial Conduct Authority (FCA) has come under pressure to implement more stringent measures on the way investments are managed, particularly when it comes to communicating fees to customers and improving the overall transparency of charges. But this is all backward. It should be companies leading the charge for transparency, because that’s what [...]
Carney moots penalties on bankers’ pay November 17, 2014 BANKERS who commit crimes or make huge losses could have to give back their salaries, Bank of England governor Mark Carney proposed yesterday. This is a radical new step – previously only bonuses were considered fair game, with bankers forced to put the awards at risk for several years to ensure they stayed on the [...]
The boss who wants to take the firm solo November 17, 2014 RECKITT Benckiser’s 12-year-old pharma business is like a child ready to fly the nest, its chief exec Shaun Thaxter told City A.M. yesterday. “This is a natural evolution – as the business has become bigger, more sophisticated and more complex,” said the British boss who is based in Virginia. “The visibility, risk and reward profile [...]
Best of the Brokers for 18 November 2014 November 17, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com ITE GROUP Westhouse Securities raised its recommendation to “add” from “neutral”, and said ITE was continuing to “tightly manage matters within its control”. The broker said it remained positive on “the quality of the group’s portfolio of market leading events across a range [...]
FTSE buoyed as Draghi speech reverses trend – London Report November 17, 2014 BRITAIN’S top share index turned positive late yesterday after European Central Bank president Mario Draghi said unconventional monetary policy measures could include buying sovereign bonds. Draghi also told the European Parliament the ECB will continue to do “whatever it takes” within its mandate to save the euro and that the single currency was irreversible. The [...]
S&P hits new record but Nasdaq falters – New York Report November 17, 2014 THE S&P 500 edged up to close at a record high on Monday as deal activity worth $100bn offset concerns about overseas growth after Japan’s economy slipped into recession. The Dow Jones industrial average rose 13.01 points, or 0.07 per cent, to 17,647.75, the S&P 500 gained 1.5 points, or 0.07 per cent, to 2,041.32. [...]
Gimme 3: Startups crowdfunding this month November 17, 2014 Oak and Iron Target: £55,000 for 30 per cent equity The furniture company uses environmentally friendly processes and locally sourced materials. Owner Terry Facey has made furniture for Harrods. Raised: £44,700 www.fundingtree.co.uk Grub Club Target: £250,000 for 15.6 per cent equity A team on a mission to change how we dine by creating pop [...]
Osborne waives VAT for Band Aid 30 November 17, 2014 GEORGE Osborne has promised to waive VAT on the latest Band Aid 30 charity single. The move means all of the money raised by the song, out today, will go to charity to tackle Ebola. Organiser Bob Geldof, who is working with artists like Ellie Goulding described the gesture as amazing.
Best of the Brokers for 17 November 2014 November 16, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com GEMFIELDS FinnCap reiterated its “buy” rating, following the mining company’s third-quarter results, which showed production had fallen while costs had climbed. The grade of the gemstones produced was lower. Target price was maintained at 60p. THE RESTAURANT GROUP Numis reiterated its “buy” rating, [...]
