Electronic waste on the increase December 15, 2013 China and other emerging economies have overtaken Western nations in dumping old electronic goods, from TVs to mobile phones, and will lead a projected 33 per cent surge in the amount of waste from 2012 to 2017, a UN-backed alliance said yesterday. The report, the first to map electronic waste by country to promote recycling [...]
BlackRock hikes Telecom Italia stake December 15, 2013 BlackRock, the world’s biggest money manager, has become the second-largest shareholder in Telecom Italia, giving it a potentially pivotal role in a shareholder vote on whether to oust the board of the Italian telecoms firm. At the end of November, it increased its combined holding in the Italian company to 10.1 per cent from the [...]
Touchless bus fares pass first year December 15, 2013 More than 6.5m journeys on London’s buses were paid for with contactless bank cards in the first year of the technology’s use, according to Transport for London. This represents less than one per cent of the 2.3bn bus trips taken, but TfL said interest in the scheme is growing as it passes its first anniversary. [...]
Bumi shareholders to vote on separation and name change December 15, 2013 SHAREHOLDERS of troubled coal miner Bumi are set to vote on the company’s separation tomorrow and also on a new name, marking the end of a longstanding feud between its co-founders. Investors are widely expected to vote in favour of the deal and the rebranding to Asia Resource Minerals. Founder Nat Rothschild, who owns a [...]
Eggborough power plant may close as it fails to win subsidies December 15, 2013 EGGBOROUGH power station in North Yorkshire is at risk of closing, with the government due to announce on Thursday that it is not eligible for subsidies until 2015. The coal-fired power station was looking to convert into a green energy project and burn wood pellets instead of coal, in order to avoid costly levies on [...]
City Moves for 16 December 2013 | Who’s switching jobs December 15, 2013 Fladgate The law firm has made two appointments. Ian Brent (right) joins as a corporate partner. He was previously head of corporate at Davies Arnold Cooper and head of London corporate at Halliwells. Melissa Needham joins as a corporate associate from DAC Beachcroft. BDO The accountancy firm has recruited Neil Williams as a director in [...]
Best of the Brokers for 16 December 2013 December 15, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com BARCLAYS Numis has raised the bank’s rating to “hold” with a 274p target price. The analyst said the forecast reductions reflect potentially weak fourth quarter revenue from fixed income and currencies as well as deleveraging, but some of the uncertainty has already been [...]
London Week Ahead: UK’s Christmas gift of boost to GDP and jobs December 15, 2013 FURTHER evidence that the recovery is gaining traction is expected this week with inflation figures and the release of the employment rate, which may top 30m for the first time ever. While the inflation rate, measured by the consumer prices index (CPI), is forecast to remain at 2.2 per cent – the lowest since September [...]
Wall St Week Ahead: Vote by Federal Reserve key to festive stocks December 15, 2013 THE Federal Reserve holds the wild card for the US stock market this week with a decision on whether or not to slow the pace of its stimulative bond buying. Federal Reserve policymakers gather for the last time in 2013 for a two-day meeting that concludes on Wednesday. Many investors are still expecting the Fed [...]
Rise of alternative finance could put business bankers’ incumbency at risk December 15, 2013 DISRUPTION is capitalism’s great party trick. The history of business is full of seemingly insignificant upstarts who cottoned on to a new technology or idea, and used it to embarrass, and then destroy, proud incumbents. It’s a lesson that makers of mainframe computers, record labels, and bookshops have all learnt to their cost. But consumers [...]
