US regulator fines 33 firms and execs for not reporting trades September 10, 2014 US REGULATORS yesterday imposed a total of $2.6m (£1.6m) in fines on 33 companies, corporate executives and major shareholders after they agreed to reach a settlement after being charged with not reporting transactions in company stock. The US Securities and Exchange Commission (SEC) said that companies included well-known companies such as Jones Lang LaSalle and Sankaty [...]
Obituary Emilio Botin September 10, 2014 Emilio Botin, the patriarch and dealmaker whose vision transformed Banco Santander from a domestic lender to a global bank, grew to become one of the most powerful unelected people in Spain. Botin, who was chairman of Santander for 28 years, died suddenly of a heart attack late on Tuesday, leaving a vacuum that the bank [...]
Banks start to regain public’s confidence September 10, 2014 BANK OF THE YEAR This year may be remembered as the year the banking sector started to fight back against the regulators after years in the doldrums post the financial crisis. Profitability is up, lenders are at last overcoming tough new regulatory hurdles and a stable future could be just around the corner. And the [...]
63 chances to join mile-high club in style September 10, 2014 YOU WOULD have thought it was an exclusive club with strictly limited chances to join, but, in fact, Britain is awash with private jets for sale. One-in-six UK jet owners are bored with their lives of luxury and are selling up. There are 63 on the market in Britain right now, according aviation management and charter firm [...]
Abercrumpet & Fudge: Fatties upstage models September 10, 2014 ABERCROMBIE and Fitch is known for its snooty attitude towards anyone it deems unattractive, but the porkers fought back yesterday. The upmarket Burlington Gardens store hired some hunks to pose topless outside, but the show was crashed by a pair of more portly gents showing off in heroic poses. Quite a sight in the chilly [...]
Sports Direct on a roll despite England failure September 10, 2014 SPORTS retailer Sports Direct yesterday reported rising sales and profit for the last three months, despite a soft patch during England’s poor World Cup run. The company, founded by Newcastle United owner Mike Ashley, said group sales rose 12.2 per cent for the 13 week period ending 27 July, to £711.2m, while gross profit increased [...]
Greene King sees a slow start to the year as World Cup hits sales September 10, 2014 British pub and breweries group Greene King announced yesterday that it expected sales in its core managed division to improve over the remainder of the year, after a disappointing 0.4 per cent growth in the first quarter due to the impact of England’s disappointing World Cup performance. The group also said that despite the UK’s [...]
Best of the Brokers for 11 September 2014 September 10, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com ROYAL BANK OF SCOTLAND Investec has upgraded to “hold” from “sell”, and raised the target price to 355p from 340p. Investec expects a no vote in the Scottish referendum to ease recent share underperformance, and continues to expect a gradual recovery across RBS’s [...]
London Report: Flat FTSE pulled back by Scots vote and ARM September 10, 2014 BRITAIN’s top equity index made little progress yesterday as a fall in the shares of chipmaker ARM and uncertainty over Scotland’s independence vote next week pegged back the market. The blue-chip FTSE 100 index, which had fallen in the last three sessions, closed up by 1.11 points – flat in percentage terms – at 6,830.11 [...]
New York Report: Apple reverses trend sending Wall St higher September 10, 2014 A REBOUND in Apple shares yesterday helped push US stocks higher, breaking the market’s two-day string of losses. The ionone and Iand maker’s shares jumped 3.1 per cent to $101, the most actively traded on the Nasdaq, after several brokerages raised their price targets on the company. Its shares had ended down slightly on Tuesday. [...]
