Dow and S&P eke out rises on a slow day – New York Report November 11, 2014 THE DOW and S&P 500 yesterday eked out a fifth session of record-closing highs, barely extending the market’s recent rally in light volume as consumer discretionary shares gained. The Dow Jones industrial average rose 1.16 points, or 0.01 per cent, to 17,614.9, a record high close. The S&P 500 gained 1.42 points, or 0.07 per [...]
The emerging market growth story: Is it due a comeback? November 11, 2014 EMERGING market investors saw spectacular annual returns of around 30 per cent between 2003 and 2007. Over those four years, the developing world enjoyed a virtuous cycle of strong commodity prices, high capital inflows, strong currencies and falling inflation. That cycle is now working in reverse – emerging markets have underperformed developed markets by 50 [...]
Christmas countdown: The best shopping destinations in London, from Tiffany’s on Old Bond St to the Hyper Japan market at Olympia November 11, 2014 London is renowned as one of the great shopping centres of the world, a constantly evolving playground for anyone with money to spend and time to spend it. Whether you’re looking for hip new openings – like those from Bally, Richard James and Hackett – or stalwarts that are guaranteed to come up with [...]
Don’t look down (or up) November 10, 2014 The new glass-floored crossing which opened at Tower Bridge yesterday may cause headaches for those with a fear of heights, but pedestrians sporting skirts and kilts need not worry about their dignity, a Tower Bridge spokesperson has said. “No it won’t be possible [to see up women’s skirts]. The layers within the glass, combined with [...]
GoPro goes to extreme lengths to raise $100m? November 10, 2014 Up to $800m (£505m) in shares in GoPro, the wearable camera loved by extreme sports afficionados, will be coming to market in a secondary offering. It plans to raise $100m in new capital, plus give some existing investors the chance to sell shares following June’s $491m initial public offering (IPO). Chief executive Nick Woodman announced [...]
Honey, I‘ve shrunk your bonus November 10, 2014 Bonuses on Wall Street could be down as much as 10 per cent for some professionals this year, according to a closely watched survey by consulting firm Johnson Associates. Overall, the firm expects 2014 bonuses to be flat compared with last year. However, the size of bonuses varies significantly across the industry. Stock and bond [...]
Better Capital’s Jon Moulton goes on £20m Walkabout with purchase of Australian-themed pub chain November 10, 2014 Better Capital, the turnaround fund owned by veteran venture capitalist Jon Moulton, yesterday announced it had bought Australian-themed pub chain Walkabout in a deal worth £20m. The fund said in a statement it had successfully acquired Walkabout’s parent company iNTERTAIN. The company had been controlled by creditors since 2009. It was formed out of the [...]
Dutch firm sweetens offer for Nutreco to see off Cargill bid November 10, 2014 FAMILY-run Dutch investment company SHV yesterday increased its offer for compatriot animal feed and nutrition firm Nutreco to €43.20 a share. The move comes in response to an expression of interest from US-based trading house Cargill and European private equity firm Permira. Nutreco said that its board was unanimously backing SHV’s bid as the offer [...]
Woodford adds Babcock to fund November 10, 2014 UK FUND manager Woodford Investment Management said yesterday that it had added Babcock International to its investment portfolio in October. At the end of last month, Woodford, owned by Neil Woodford – one of the UK’s highest profile fund managers – held 0.47 per cent of its £3.37bn asset portfolio in shares of the leading [...]
Best of the Brokers for 11 November 2014 November 10, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com DIGNITY Numis reiterated its “hold” rating, following an “unexpectedly strong” operating profit in the third quarter, up 23 per cent. The broker said the group “should continue to show solid operating progress despite the weaker than expected trend in UK deaths”. J SAINSBURY [...]
