Deadline delay in Carphone and Dixons takeover March 24, 2014 CARPHONE Warehouse and Dixons have asked the Takeover Panel for an extension to the negotiations for their £4bn merger. The deadline of 24 March was originally set by the Panel when the retailers revealed they were in discussions for a merger in February. But with today’s deadline looking unlikely to be met, Dixons and Carphone [...]
UK food and drink exports grew last year as salmon sales leaped March 24, 2014 EXPORTS of UK food and non-alcoholic drink increased by five per cent to £12.8bn last year, buoyed by a massive 82 per cent rise over the year in sales to China. Figures from the Food and Drink Federation (FDF) released today show the growth was in line with strengthening economic performance in the EU, which [...]
City Moves for 24 March 2014 | Who’s switching jobs March 24, 2014 Herbert Smith Freehills The law firm has announced the appointment of Justin D’Agostino as global head of dispute resolution. He is currently a partner, and has spent his entire legal career at the firm. Legal & General Property James Lidgate has joined Legal & General property as head of residential. He has over 14 years’ [...]
Best of the Brokers for 24 March 2014 March 24, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com ASOS UBS has kept its “neutral” rating on the online retailer but lowered its target price to 6,200p from 6,660p after a disappointing update on sales and margins last week. The broker expects the sales slowdown to be reversed in the second half, [...]
London Report: Petrol prices to help inflation to a four-year low March 24, 2014 INFLATION is expected to hit a four-year low, with data this week likely to show petrol prices and the pound’s strength controlling prices. Consumer Price Index (CPI) figures due out tomorrow are forecast to show inflation at 1.7 per cent in February, down from 1.9 per cent in January. and the lowest since October 2009. [...]
Wall St The Week Ahead: Federal Reserve chair Yellen in investors’ focus March 24, 2014 FOR US stock investors, the main event will be Federal Reserve Chair Janet Yellen’s return trip this week to Capitol Hill. Wall Street will hang on her every word about the weather, of all things, when she goes before the Senate Banking Committee to complete her semi-annual testimony about monetary policy. Yellen will speak to [...]
The pension revolution could restore Britain’s long-term savings culture March 24, 2014 THE PENSION reforms announced in last week’s Budget represent the biggest shake-up of pensions in living memory. UK pensions are currently the most inflexible in the world, with strict rules on how the pension money can be used in later life. That will no longer be the case. All of sudden, people will have the [...]
City Matters: The UK has fallen behind in the global export race: Here’s how we catch up March 24, 2014 AS A SMALL island nation, the United Kingdom has a long history of punching above its weight when it comes to trade and commerce across the world. Exports have been a major driver of our economy since before the time of the Romans – even though commodities such as pottery have been replaced by professional [...]
Sunday trading laws are outdated: We must extend opening hours March 24, 2014 IT’S TIME to reform our outdated, restrictive Sunday trading laws. With online shopping gaining in popularity by the day, the health of the British high street relies on full flexibility to open on Sundays. Three quarters of the public already shop on a Sunday at least once a month. And a recent Comres poll for [...]
Letters to the Editor – 24/03 – Brexit fears, Data appreciation, Best of Twitter March 23, 2014 Brexit fears Hitachi’s decision to move its rail business to Britain, and Bentley’s decision to move more engineering here, confounds the claim by scaremongers that a Brexit from the EU would stop inward investment to the UK. It suggests that companies appreciate that our location, language, business culture and access to the City of London [...]
