Travel firms take hit as Ebola fear fails to recede – London Report October 8, 2014 BRITAIN’S main equity index fell yesterday as worries about Ebola reaching Europe hurt travel firms and telecoms tester Spirent Communications became the latest UK company to warn on profits. The blue-chip FTSE 100 index closed 13.34 points lower, or 0.2 per cent, at 6,482.24 points, taking its fall from a 14-and-a-half–year high hit last month [...]
Wall St soars as Fed dampens fears over hike – New York Report October 8, 2014 US STOCKS soared yesterday, with major indexes posting their biggest one-day jumps of 2014 after the Federal Reserve reassured investors that its first interest rate hike would not come until it deemed the economy could withstand it. The Fed’s less aggressive posture lit a fire under US stocks, which had struggled in recent days, and [...]
Berkeley poaches Quintain’s finance chief October 7, 2014 Quintain’s finance director Richard Stearn will be swapping one FTSE 250 property company for another after being appointed yesterday to take up the same role at the Berkeley Group. Quintain said Stearn would leave the company “no later than no later than 3 April 2015” and join the housebuilder shortly after.
Fizz goes out of SodaStream’s revenues October 7, 2014 SodaStream International, the Israeli fizzy drinks machine maker, yesterday warned its estimated third-quarter revenue would be below market expectations. SodaStream was in the news in January when movie star Scarlett Johansson (pictured), its public face, drew fire for working with a firm whose largest factory is in an Israeli settlement in the occupied West Bank.
Best of the Brokers for 8 October 2014 October 7, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com BAE SYSTEMS Cantor Fitzgerald downgraded BAE Systems to “hold” from “buy”, although the broker said that despite increasing geopolitical risks and operational requirements, it felt that the defence company was “entering a period of relative calm”. It retained a target price of 460p. [...]
Fears over Ebola contagion puts airlines in a spin – London Report October 7, 2014 BRITAIN’S top share index fell back yesterday, with travel and leisure companies hit by concerns that the spread of Ebola outside Africa could hurt air travel and the tourism business. Sentiment was also hit by a set of poor data, including an unexpected four per cent month-on-month drop in German industrial production in August. Analysts had [...]
IMF data pulls Dow down by 270 points – New York Report October 7, 2014 WALL Street yesterday ended sharply lower, with major indexes dipping more than 1.5 per cent in heavy trading, as weak data out of Germany raised concerns about the strength of global growth ahead of the start of earnings season. The International Monetary Fund cut its global economic growth forecasts for the third time this year, suggesting [...]
Property in London: Is it a safe asset? October 7, 2014 Base rate hikes and a strong pound will dent prices, says Yogi Dewan THE EASY money in property markets was made a long time ago. That said, real estate remains the ultimate safe haven for many investors, as they consider it to be a better alternative to investing in global equities, government bonds or other [...]
Activist investor Ed Bramson loses Electra battle October 6, 2014 Activist investor Edward Bramson yesterday lost his battle to wrest control of private equity trust Electra after a crunch shareholder meeting. More than 60 per cent of investors voted against Bramson’s proposal to put himself on the company’s board. It still leaves Bramson with a stake of around 20 per cent in the group.
Ex-New York mayor Michael Bloomberg gets knighted October 6, 2014 The former mayor of New York city, Michael Bloomberg, yesterday became a Knight, when the Queen made him an honorary member of the British empire. Bloomberg said he is “deeply honoured.” The award was given in recognition of his entrepreneurial and philanthropic work. As a foreign citizen Bloomberg will not be free to use the [...]
