Hedge funds make bets on rise in sterling April 14, 2014 TRADERS have ramped up their bets on sterling, with a big jump in the number of hedge funds taking long positions in the pound in expectation of a rate hike, US data shows. Long contracts on sterling rose 38 per cent higher versus the prior week, up from 33,572 at the start of April to [...]
Wealth manager consolidation continues with off-shore deals April 14, 2014 TWO MORE wealth managers joined the growing trend for consolidation in the sector yesterday after Brooks Macdonald and Rowan Dartington struck deals to buy offshore rivals. Brooks Macdonald, which is listed on the junior stock market, said it had acquired DPZ Capital, a 15-person strong investment manager based in Jersey. Brooks will pay £5.7m up [...]
No more Woori for Aviva after sale of South Korean insurer April 14, 2014 INSURER Aviva yesterday sold its 47.3 per cent stake in the insurance unit of South Korea’s largest financial group but said it remained committed to the Asian region. The FTSE listed business will sell its interest in Woori Aviva Life Insurance, a joint venture it launched with Woori Financial, the group behind South Korea’s second [...]
Bond St priciest spot in Europe April 14, 2014 OLD Bond Street, home to London’s jewellers and luxury brands, has held onto its title as the most expensive shopping street in Europe, according to a survey out yesterday. Retailers now pay rents of £838 per square feet per year as demand for space on Britain’s prized shopping street continues to outpace supply, property advisers [...]
Londoners grow fonder of the Shard skyscraper April 14, 2014 LONDONERS are growing fonder of the Shard despite western Europe’s biggest skyscraper initially sparking mixed feelings among inhabitants in the capital. According to a YouGov poll released yesterday, 57 per cent of Londoners think the 87-storey glass tower has changed the capital’s skyline for the better, while 15 per cent reckon it has made it [...]
Monte Paschi aims to raise €5bn capital April 14, 2014 BANCA Monte dei Paschi di Siena may need to raise up to €5bn (£4.13bn) through an upcoming capital hike, rather than the €3bn originally planned, Italian news agency ANSA reported yesterday. The world’s oldest bank is due to launch a rights issue at the end of May to help pay back a €4.1bn state bailout [...]
Traffic at Gatwick Airport ticks up ahead of the Easter getaway April 14, 2014 GATWICK Airport brought in 5.1 per cent more passengers in March, as European and long-haul routes both delivered double-digit growth. In spite of the later Easter break this year, Gatwick said scheduled traffic to and from Europe was up 11.4 per cent on March 2013 to 1.49m, while long haul passengers not travelling to North [...]
Europeans are keener to buy a car than Brits April 14, 2014 MORE than four in ten Brits expect to buy a car in the next two years, while motorists elsewhere in Europe are even more upbeat with half hoping to splash out, research out today claims. Forty-five per cent of UK residents who took an online survey said they want to buy a car within two [...]
Quintain and Keystone form joint venture for 475 Wembley homes April 14, 2014 QUINTAIN Estates has become the latest developer to move into the private rental sector after forming a joint venture yesterday to build 475 homes for rent in Wembley. The company is partnering with Swiss private equity group and family office Keystone to deliver the next 306,000 square feet phase of homes at Wembley Park, which [...]
Graphene firm sinks below offer price on weak stock market debut April 14, 2014 GRAPHENE maker Haydale Graphene Industries made its debut on the Alternative Investment Market yesterday but weak investor demand saw its shares close below their offer price. After an opening price of 210p and a valuation of £23.6m Haydale’s shares hit 229p before sinking to close at 192p. The Welsh firm deals in the a high-tech [...]
