Three things you didn’t know about… October 12, 2014 Chief executive of the Association for Financial Markets in Europe, Simon Lewis 1 His first job was working for property guru Gerald Ronson, when he did a gap year stint as a petrol pump attendant in Ronson’s flagship HR Owen garage in Hampstead Garden Suburb. The cashier was Jon Sopel, also on his gap year [...]
Best of the Brokers for 13 October 2014 October 12, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com HUNTING Canaccord Genuity upgraded its rating to “buy”, following share price decline during the last week as well as “robust drilling activity data”. It also stated that it was expecting growth in demand for Hunting’s products. Its target price of 950p remained unchanged. [...]
Consumers win as UK inflation continues to fall – London Report October 12, 2014 Consumers are winning out as low petrol prices and the continuing supermarket price war drive inflation down. Data out tomorrow is expected to show consumer price inflation for September fell to a five-year low of 1.4 per cent – well below the Bank of England’s target rate of two per cent. However, weak earnings growth [...]
Volatility in US markets ahead of key earnings – New York Report October 12, 2014 VOLATILITY has suddenly returned to US stocks, and for the first time all year it doesn’t appear that the weakness in equities will go away quietly in the span of a few days. While the S&P 500 is still up 3.1 per cent for the year, the index is off about five per cent from [...]
King of spin Lord Tim Bell apologises for “aggravation” caused by Financial Times interview October 9, 2014 For one of the world’s best known PR men, Lord Bell really should have known better. After reading the interview he gave to the Financial Times yesterday, Bell was clearly inclined to agree. Apologising in a grovelling internal email to staff he concluded: “I am supposed to know how to deal with journalists, friendly or [...]
Carswell is Ukip’s first elected MP October 9, 2014 Ukip members were last night jubilant but playing down poll predictions of a 30 per cent victory margin for Douglas Carswell in the Clacton by-election. The election was triggered in August when Carswell defected to Ukip and stood down from his Westminster seat.
Angela Spindler: It’s been a year of heavy lifting October 9, 2014 “It has been a year of heavy lifting,” N Brown’s chief executive Angela Spindler explained yesterday as she sought to allay fears over the retailer’s shock profit warning. Since joining N Brown in July last year, the former Asda director and Original Factory Shop boss has been busy hauling the business into the digital age [...]
Canary Wharf Group recoups $350m October 9, 2014 Canary Wharf Group has reached a $350m (£217m) settlement with the liquidators of Lehman Brothers over rent owed after the collapse of the bank in 2008. Lehman Brothers rented 25 Bank Street in Canary Wharf, which is now owned by JP Morgan.
Correction: Poundworld October 9, 2014 VALUE chain Poundworld was censured by the Advertising Standards Authority this week for failing to provide accurate pricing information – not Poundland, as initially reported by City A.M. on Thursday 9 October. Poundland has had no rulings made against it by the Advertising Standards Authority. We would like to apologise to Poundland for this mistake.
Best of the Brokers for 10 October 2014 October 9, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com EUROPA OIL & GAS Northland Capital Partners reiterated its “buy” rating and 10.3p target price, citing Europa’s delivery of operational results in line with expectations. The broker said: “The strong balance sheet and production cash flows make Europa one of the best placed [...]
