Surrey unveil plans to expand Kia Oval and increase capacity August 18, 2015 SURREY County Cricket Club have unveiled plans to expand the Kia Oval by rebuilding the Peter May Stand at the end of the current season. The redevelopment, which also involves the Lock Stand, will take the capacity of the stadium beyond 25,300, making the Kia Oval the second largest cricket ground in the country behind [...]
How successful people spend their holiday August 18, 2015 Neglect planning at your peril That's my lesson for taking a vacation: vacation will kill you,” surmises Tesla founder Elon Musk in a recent biography, having contracted a severe bout of malaria following a holiday in Africa in 2000. Indeed, the most successful business leaders don’t necessarily have the most successful holidays; last year, [...]
Sun Tzu and the art of currency war – CNBC Comment August 18, 2015 WITH talk of currency wars gathering steam, aided by the Chinese government’s devaluation of the yuan last week, it’s difficult to know which ancient Chinese philosopher to turn to. Sun Tzu’s words from The Art of War – “the supreme art of war is to subdue the enemy without fighting” – may come to mind. [...]
China’s weakened yuan: From deflation to US equities, the effects are set to ripple out across the world August 18, 2015 One week on and investors are still digesting the impact of China’s sudden currency devaluation. Last week the People’s Bank of China (PBOC) dropped the daily reference rate it sets for the yuan by 1.9 per cent, and committed to taking the market’s views into account when setting the currency’s value in future. Consensus [...]
Best of the Brokers for 18 August 2015 August 18, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com JUPITER FUND MANAGEMENT Shore Capital has retained its “sell” rating for Jupiter. It said that a “surprise £12.8m performance fee slightly flattered what were good underlying results, with adjusted earnings per share up 14 per cent [eight per cent excluding the performance fee, [...]
FTSE closes flat but miners fall to six-year low – London Report August 18, 2015 BRITAIN’S top share index closed flat yesterday, weakened by US data and by mining companies hitting multi-year lows. The FTSE 100 index closed down a tiny 0.007 per cent – or 0.44 points – at 6,550.30. This followed the release of a survey which showed manufacturing activity in New York state at its weakest level [...]
Murray International Trust suffers from strength of surging sterling August 18, 2015 MURRAY International, the FTSE 250-listed investment trust, fell in value during the first six months of the year after falling victim to the runaway strength of the pound. The £1.1bn vehicle, managed by Aberdeen Asset Management’s Bruce Stout, has about 90 per cent of its assets invested outside the UK. Sterling’s surge to a seven-year [...]
Pension funds offload £3.6bn of payments August 18, 2015 COMPANY pension schemes offloaded a record level of looming pensioner payments in the second quarter, fresh figures show Seven deals worth between £300m and £700m – totalling £3.7bn – helped take the half year total to £4.4bn, consultancy LCP said. A large chunk of second quarter deals – some £1.17bn – was transacted by Prudential, [...]
Costain bolsters services with takeover of consultancy Rhead August 18, 2015 COSTAIN, the engineering solutions provider that helped to build the Channel Tunnel, has announced the acquisition of Rhead Group, a commercial management consultancy. Rhead Group will be fully integrated into Costain before the end of the current financial year. The group’s current senior management setup, including chief executive Nigel Curry, is expected to remain with [...]
KKR takes stake in Swiss-based software group August 18, 2015 KKR, the private equity firm, has bought a 25 per cent stake in Swiss-based group SoftwareOne, which works with blue chip firms such as Microsoft, IBM, and SAP. Management, existing shareholders and the firm’s founding partners will own the other 75 per cent of the company as part of the deal, terms of which were [...]
