What the other papers say this morning – 21 January 2014 January 20, 2014 FINANCIAL TIMES Retailers join IPO shopping list Bankers are preparing to list a swelling number of high street retailers on the London Stock Exchange as their private equity backers rush to cash in on a recovery in the IPO market. Discount retailer Poundland and Pets at Home are poised to kick off the slew of [...]
Lord Rennard is suspended from Lib Dems January 20, 2014 LIBERAL Democrat peer and strategist Lord Rennard has been suspended from his party, after he refused to apologise to female activists who accused him of inappropriate behaviour. A party spokesman announced yesterday that Rennard would be investigated for bringing the party into disrepute, after he said he would not apologise in case it was taken [...]
Boost as price of petrol hits three-year low January 20, 2014 THE AVERAGE price of unleaded petrol in the UK has fallen below 130p per litre for the first time in three years and is likely to drop further in the coming weeks. Data from analysis firm Experian Catalist showed the average price fell to 129.82p on Sunday, in a boost for motorists and the Bank [...]
Longest serving banker retires from JP Morgan January 20, 2014 JP MORGAN’S longest serving investment banker in London yesterday announced his retirement after 34 years. Klaus Diederichs helped found the bank’s investment banking arm and his most recent role was chairman of investment banking in Europe, the Middle East and Africa. According to a memo seen by City A.M. he is stepping down in April but will [...]
West eases economic sanctions on Iran over nuclear agreement January 20, 2014 SANCTIONS were eased yesterday as part of a groundbreaking nuclear agreement between Iran and western nations. Iran has agreed to curb its uranium enrichment to calm fears over its plans, a deal the International Atomic Energy Agency believes Iran is keeping to. The interim arrangements will see some assets unfrozen as well as an opening [...]
Ryanair considers issuing bonds to fund the renewal of its fleet January 20, 2014 IRISH airline Ryanair is considering tapping bond markets directly for the first time, it emerged yesterday. Europe’s largest airline by passenger numbers has issued bonds backed by ExIm bank previously, but is in the process of seeking a rating to gain direct access to the debt markets. “We are putting ourselves in a position to allow [...]
Fat Face joins queue to float in London January 20, 2014 FAT FACE, the clothing company, is inching towards a stock market float after appointing Citigroup and Jefferies. The firm’s private equity owner Bridgepoint appointed Lazard before Christmas to explore options for the business, which it has owned since 2007. Yesterday’s move, first reported by Sky News, suggests it will pull the trigger on a float.
CNBC Comment: Davos cynics miss its true relevance January 20, 2014 IT’S EASY to be hysterical or snarky about the annual gathering of chief executives, politicians, economists and “thought leaders” at the World Economic Forum in Davos (which begins this week) – particularly if you’re not going. Plenty of conspiracy theorists suspect that the world’s elite is gathering in this small Swiss town to plan the [...]
DailyFX Tips & Picks: Understanding the nature of the London forex session January 20, 2014 Trading the London forex session can be an eye-opening experience; the movements are hefty and trend-following traders tend to perform best during these hours. The reason for this is that the market’s bias will be quite consistent until New York joins in the afternoon. This means that, if the day starts out with a stronger [...]
DailyFX Tips & Picks: Analyst picks January 20, 2014 CHIEF STRATEGIST JOHN KICKLIGHTER My pick: Short sterling-dollar, long Aussie-yen and euro-sterling Expertise: Fundamental and technical analysis Average time frame of trades: 1 day to 1 week Full-scale risk aversion is a scenario that constantly circles the borders of the financial markets, but positioning for catastrophe is a game fraught with false starts. Until we [...]
