City Moves for 05 November 2013 | Who’s switching jobs November 4, 2013 RBS The bank’s real estate management division, part of its global restructuring group, has announced the hire of Jessica Way as a senior asset manager. She was most recently at Aviva Investors, where she was a real estate asset manager for its property trust. Chadbourne & Parke The advisory firm has recruited Nikolai Mikhailov as an [...]
Best of the Brokers for 05 November 2013 November 4, 2013 SPIRIT PUB COMPANY Numis reports that Spirit Pub Company has achieved its goals from refinancing; consequently, 70 per cent of A1 and 50 per cent of A3 bond notes will be converted into A6 and A7 bond notes. The broker has maintained its buy rating for the stock with the target price of 100p. DE [...]
London Report: HSBC lifts FTSE as Ryanair and Weir Group sink November 4, 2013 BRITAIN’S FTSE 100 share index pushed ahead yesterday, as its biggest stock HSBC rose after solid results, outweighing weakness in the airline and engineering sectors following profit warnings. HSBC advanced 2.3 per cent in its biggest one-day rise in four months after quarterly profits rose by a tenth, year-on-year, meeting analyst expectations and reassuring investors [...]
New York Report: Blackberry hits a 10-year-low with new boss November 4, 2013 US STOCK indexes were little changed yesterday in belowaverage trading volume, while shares of Blackberry plummeted to a 10-year low after the company replaced its chief executive. US-listed shares of Blackberry tumbled 17.2 per cent to $6.43 a share after the smartphone maker said it was abandoning a plan to sell itself. With yesterday’s drop, [...]
This is the eye of the financial storm: UK banks are far from being healthy November 4, 2013 PRIVATISATION at Lloyds, but losses. An internal quasi-bad bank at RBS. Co-op bank falling into the hands of its bondholders. How healthy is the UK’s banking sector? With GDP growth picking up, and crisis in the Eurozone in abeyance, it’s natural to imagine that the worst of the UK’s banking crisis is now behind us. [...]
We should question the CBI’s claim to represent business opinion on Europe November 4, 2013 ONE OF the biggest myths in UK politics is that the free-market and Eurosceptic wings of conservatism are beholden to the interests of big business. Many mistake a shared desire for a lower tax and regulatory burden for a common agenda. Yet in reality, some of the biggest divergences in economic opinion occur between these [...]
Beware the unintended consequences of making a Living Wage mandatory November 4, 2013 IT’S LIVING Wage week, and many are endorsing the principle of raising low pay, whether by boosting the minimum wage, or by forcing local authorities and pressuring other private employers to pay the Living Wage. It’s an attractive proposition, advocated by politicians as varied as Ed Miliband and Boris Johnson. But it is worth pausing [...]
Letters to the Editor – 05/11 – Minimum wages, Startup lending, Best of Twitter November 4, 2013 Minimum wages [Re: Help the low-paid by slashing their tax and boosting education, yesterday] I agree the best way of boosting low-paid income is to increase the tax threshold to, say, £12,000. A minimum wage increase would only lead to more outsourcing and automation. Chris Hobson As the economist Paul Krugman said in 1998, “the higher [...]
How to employ market volatility indicators to build a trading strategy November 4, 2013 FOR LESS experienced forex traders, the correlation between volatility and market prices – and how this relationship can be used to help build trading strategies – can prove elusive. Volatility expresses the degree of price change over a given time period. And one of the more common means of measuring market price volatility is the [...]
Deflation fear prompts Eurozone rate cut talk November 4, 2013 But a single data point is unlikely to convince the ECB that immediate loosening is necessary European shares traded close to five-year highs yesterday amid speculation that the European Central Bank (ECB) will cut its policy rate on Thursday. The FTSEurofirst 300 Index rose above 1,296, a near 6 per cent increase from Friday’s levels. [...]
