Water firms asked to take lower returns January 27, 2014 OFWAT yesterday put pressure on water companies to accept a lower rate of return on investment during the 2015 to 2020 price cycle. The regulator suggested a 3.85 per cent weighted average cost of capital – the combined returns on debt and equity – compared to an average 4.2 per cent submitted by the companies [...]
Revealed: Sloane Square early birds January 27, 2014 WHAT time do you rock up at work in the morning? Are you all “at the desk by 7am, granola eaten and ready for action”? Or more of a “rolling in the door at 10am, Square Mile coffee and croissant in hand” type? We all know that industries have different work patterns and now we have [...]
Deutsche takes a dim view of Manchester United player costs January 27, 2014 MANCHESTER United’s £37m record signing of Juan Mata from Chelsea, as well as the team’s current run of indifferent form, has prompted Deutsche Bank to downgrade its price target for the listed company’s shares from $21 to $16. “We now think we were too conservative in our player cost outlook,” says the Deutsche research team [...]
Euro ministers impatient for Greece review January 27, 2014 GREEK finance minister Yannis Stournaras was under the spotlight at yesterday’s meeting of Eurozone finance ministers, after the Eurogroup president, Jeroen Dijsselbloem, said the Troika’s review of the country is taking too long. Dijsselbloem told a press conference in Brussels that the review by the Troika was taking too long, and that it was in [...]
Watchdog says Arch Cru fund to pay out £31m in compensation January 27, 2014 INVESTORS in the failed CF Arch Cru funds will be paid more than £31m in compensation from a regulator-backed scheme. The Financial Conduct Authority said yesterday that the financial advisers that recommended the Arch Cru funds to their clients based on unsuitable advice are in line for a £31.47m compensation bill. “The vast majority of [...]
Abe’s weak yen fails to trim down Japanese trade deficit January 27, 2014 JAPAN’S trade deficit is still growing at around the same pace as before its central bank embarked on an enormous expansion of the monetary base, according to official figures published yesterday. The country’s merchandise trade deficit came in at ¥1.3 trillion (£7.7bn) in December, twice as wide as it was in the same month of [...]
German firms still reporting better growth January 27, 2014 BUSINESS confidence in Germany has improved again this month, with strong perceptions of the current market and higher expectations for the months ahead. The headline score of Ifo’s major index rose to 110.6, up from 109.5 in December. Any score over 100 indicates positive market sentiment. The part of the index which measures expectations also improved, [...]
Three year old Sorrell Capital shuts up shop January 27, 2014 SORRELL Capital, the London hedge fund founded by former Goldman Sachs banker Robert Sorrell, has closed its flagship macro fund, according to account filings. Sorrell, the son of WPP chief executive Sir Martin Sorrell, closed the fund in May 2013. Accounts filed at Companies House in December show the parent company fell to an annual [...]
Speed limit lowered in City as three-week consultation starts January 27, 2014 A CONSULTATION on the City of London’s change to a 20 miles per hour (mph) speed limit begins today, and will run for the next three weeks. Transport for London has also revealed that two routes running from north to south through the City will have 20mph limits trialled. The lower limit will be imposed on [...]
Porvair boss forecasts revenue rise and fall over coming years January 27, 2014 PORVAIR’S chief executive yesterday warned that revenue would rise this year but then fall in 2015, as the specialist filtration and environmental technology group unveiled record figures for 2013. The London-listed firm posted a 10 per cent rise in revenues to £84.3m for the year ended 30 November 2013, while pre-tax profits rose 25 per [...]
