Falling milk prices piles pressure on Arla farmers as revenues drop August 31, 2015 ARLA Foods has blamed the global decline in milk prices and volatile market conditions for a drop in revenues in the first half of the year. The Danish-based dairy giant behind brands including Lurpak, Castello and Arla, said total revenue dropped 3.8 per cent to €5.13bn (£3.73bn) in the first half from €5.33bn compared with [...]
JP Morgan Cazenove stays ahead of rival Bank of America Merrill Lynch in top broker battle August 31, 2015 JP Morgan Cazenove’s capture of Barclays’ coveted broking mandate has helped the investment bank stretch its lead at the top of the latest adviser rankings. The bank, which brokers giants like Vodafone and Standard Chartered, has 34 FTSE 100 clients, seven more than its nearest rival Bank of America Merrill Lynch, according to the [...]
Carve-out and prosper: Footsie firms propelled by spin-offs August 31, 2015 COMPANY spin-outs bolster the earnings growth of the parent group and drive up the value of shares, a study out today says. Amid a wave of companies carving out units into standalone firms, fresh evidence shows companies pursuing the strategy to grow earnings by 9.5 per cent a year, on average, two years after the [...]
City Moves for 01 September 2015 | Who’s switching jobs August 31, 2015 KPMG Stan Chaudhry has been appointed director in the professional services firm’s UK investment management team. He joins from Brook Bay Capital, where he was chief operating officer. Chaudhry has also held senior operational and finance roles at Thames River Capital. Penna Consulting The human resources consulting firm has appointed Penny de Valk as an [...]
Scor names ex-Alstom adviser as chief operating officer August 31, 2015 REINSURANCE group Scor has appointed Nicolas Tissot as its new chief operating officer. Tissot, who was previous finance chief at French energy firm Alstom, took up his new role yesterday. Scor said he has been put in charge of “implementing the means necessary to reinforce operational excellence and providing the group’s business units with the [...]
Best of the Brokers for 01 September 2015 August 31, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com ALDERMORE Numis upgraded its rating for the challenger bank from “hold” to “add”. Analysts said growth had been strong with better margins, falling impairment and improved operating efficiency. It expects improving operating efficiency to be the key driver of profit growth going forward. [...]
European stocks drop on Chinese economy fears – Europe Report August 31, 2015 EUROPEAN shares suffered their worst monthly performance in four years yesterday, as concerns over a Chinese economic slowdown and a possible US interest rate rise hit the region’s stock markets. The pan-European FTSEurofirst 300 index closed down 0.2 per cent to record a monthly loss of nine per cent – its worst monthly performance since [...]
Wall St closes worst month in three years – New York Report August 31, 2015 WALL Street wrapped up its worst month since 2012 yesterday on a sour note after comments from a senior Federal Reserve official heightened fears among investors of a potential US interest hike in September. The Dow Jones industrial average lost 0.69 per cent to end at 16,528.03 points and the S&P 500 fell 0.84 per [...]
Europe’s hidden political crisis: Internal Eurozone disagreements over Greece could have deep-seated implications – CNBC Comment August 31, 2015 The Eurozone economy may be showing signs of strength this year, thanks in part to the European Central Bank’s (ECB) massive bond-buying programme but, politically, Europe is struggling. And we can thank Greece for that. ECONOMIC BOOST The forecast for GDP growth for Europe is much stronger this year than it was in 2014 [...]
Instability may put Fed hike on ice August 31, 2015 With oil so cheap, rising employment may not boost US inflation WHEN global markets dived last week, $900bn was wiped off the S&P 500 on Monday and Tuesday alone, and the prospect of a Fed rate hike in September went from consensus view to highly unlikely. But the end of the week brought promising news [...]
