Draghi hints at publishing euro bank’s minutes April 24, 2014 EUROPEAN Central Bank (ECB) chief Mario Draghi hinted yesterday that the Eurozone’s interest rate setters could start to publish minutes of their policy meetings, following the standard practice of other major central banks. Speaking in the Netherlands, Draghi said: “The publication of a richer account of our monetary policy deliberations represents a logical next step [...]
Cost of servicing Spanish public debt drops to lowest on record April 24, 2014 BONDS issued by the Spanish government yesterday morning had the lowest yields on record for the country, as the cost of servicing debt dips to fresh lows across the Eurozone. The €5.6bn (£4.61bn) of debt sold will yield just 3.059 per cent, the lowest since the start of the single currency, and far below the [...]
France hints at block to GE bid for power plant builder Alstom April 24, 2014 THE FRENCH government has hinted it would block a takeover bid from US engineering giant General Electric for train and power plant builder Alstom, after a report emerged that a $13bn (£7.7bn) deal may be on the cards. Shares in France’s Alstom surged over 14 per cent yesterday, after a Bloomberg report, citing people with [...]
Labour to leave Co-op bank for Unity Trust deal April 24, 2014 LABOUR is in discussions with Unity Trust Bank after it emerged the party plans to end its long-standing commercial relationship with the troubled Co-operative. Labour is understood to be planning to move a loan worth over £1m to the trade-union owned bank, although a spokesperson would not confirm the deal had been done yesterday. “The [...]
Troubled group’s shops to spend £100m in cutting prices of goods April 24, 2014 THE CO-OPERATIVE group became the latest supermarket chain to slash its prices yesterday, as it fights back against growing competition in the convenience sector. The retailer, which admitted earlier this year to years of underinvestment, is spending £100m this year in cutting prices of every day essential products such as bread, milk and bananas. It [...]
Branson’s airline narrows its losses April 24, 2014 VIRGIN Atlantic expects the benefits of its cost-cutting plan and a tie-up with US carrier Delta Air Lines to help it back to profit by the end of this year. Virgin, which is in the middle of a two-year turnaround plan under new boss Craig Kreeger, halved its group pre-tax loss of £51m last year. [...]
Something fishy going on for Sir John Beckwith April 24, 2014 HAVE you heard the mysterious tale of Geoffrey the missing goldfish? City legend Sir John Beckwith, has sent a memo to all staff at 124 Sloane Street, where his fund management firm Pacific Investments is based, pleading for information about the fish who went missing on 17 April. “I hasten to add that some have [...]
Our Team London faces New York after launch of Polo in the Park April 24, 2014 POLO season kicks off next month but it came a tad early last night at the Chestertons Polo in the Park launch event at the Mandarin Oriental. Players from all six participating teams were there to woo the crowds and find out who they would be playing on Chukka Friday on 6 June. We drew [...]
Higher demand for Euro stocks helps Henderson lure £3bn more April 24, 2014 IMPROVING stock market conditions in Europe helped fund manager Henderson Group attract an extra £3bn last quarter, as retail investors rushed to buy funds focused on continential Europe. FTSE 250 listed Henderson, led by 42-year-old Australian chief executive Andrew Formica, said assets under management rose to £79.2bn at the end of March from £75.2bn three [...]
Analyst Views: What do the results mean for Henderson? April 24, 2014 PHILIP MIDDLETON | BANK OF AMERICA MERRILL LYNCHGeographical diversity is positive for earnings quality, in our view. As the asset management industry consolidates, this is likely to become increasingly important. Henderson now looks well positioned, with a range of sellable product and well diversified distribution. DAVID MCCANN | NUMISWe regard Henderson as an asset manager [...]
