Fidessa claims small impact of more investment on margins August 3, 2015 Fidessa Group yesterday said an additional investment it is making in new opportunities is having a “small impact” on its operating margin The FTSE 250 trading, investment and information company added there may be greater pressure arising going into 2016 from potential consolidation activity amongst its customers. Fidessa said it made a £19.4m pre-tax profit [...]
Commodities price crash hits Keller Group August 3, 2015 Keller Group yesterday said it had been hit by a crash in commodity prices, with sales suffering from a slowdown in the Canadian oil sands industry and the Australian mining sector. The ground engineering specialist said “market conditions in Canada continue to be difficult” with sales from the oil sands market at “a very low [...]
West End sees post-May poll sales upswing August 3, 2015 HOUSE sales in London’s upmarket West End have soared following the Conservatives’ election win, as buyers’ fears over Labour’s proposed mansion tax were allayed. Property advisers CBRE said enquiry levels rose by 25 to 30 per cent following the May poll outcome compared with pre-election figures. This led to an upswing in sales in the [...]
Axa Real Estate raises €2.9bn for its ninth European debt fund August 3, 2015 AXA REAL Estate Investment Managers said yesterday it has raised €2.9bn (£2.04bn) for its ninth debt fund, making it one of the largest commercial real estate (CRE) senior loan funds in Europe. The asset manager said the senior debt fund CRE9 had exceeded its €2.5bn target at final close after receiving commitments from 18 institutional [...]
Gloo Networks IPO raises cash from Invesco and Standard Life August 3, 2015 A clutch of City fund managers have backed the flotation of a digital acquisition vehicle called Gloo Networks. Invesco Asset Management, Ruffer and Standard Life are among a number of fund managers that have bought shares in the firm, which will list on the alternative investment market. Gloo is the brainchild of the former digital [...]
London workers bargain for higher pay as economy grows August 3, 2015 With the UK economy growing strongly, London’s job hunters are putting more emphasis on pay when searching for potential employers, new research shows. Compensation is now the top factor when considering jobs with 20 per cent of Londoners saying they were most motivated by pay, according to survey figures released today by recruiter Randstad. It [...]
City Moves for 04 August 2015 | Who’s switching jobs August 3, 2015 Legal & General Investment Management Andrzej Pioch has been promoted to co-fund manager in the investment management company’s multi-index team. He joined Legal & General Investment Management in July 2014 as fund manager from Aviva Investors. Argo Group International Holdings The underwriter of specialty insurance and reinsurance products has appointed Steve McGill as global head [...]
China crisis weighs on Wall Street – New York Report August 3, 2015 WALL STREET ended lower yesterday as tumbling oil prices dragged energy shares to a three-year low and factory data from China added to concerns about weakening growth in the world’s second-largest economy. The Dow Jones industrial average fell 91.46 points, or 0.52 per cent, to 17,598.4, the S&P 500 lost 5.86 points, or 0.28 per [...]
Collective myopia has gripped markets: It’s time to rediscover long-term capital August 3, 2015 “The world would be a better place if businesses stopped thinking so much about short-term results and focused more on the long term,” wrote Adi Ignatius, editor of the Harvard Business Review, in January 2014. The same is sometimes said of asset managers and the investors they serve. A longer-term approach to investment can lead [...]
Why the NHS needs old-age reserves to mitigate galloping healthcare costs August 3, 2015 Do you remember the time when healthcare professionals used to argue that the NHS was adequately funded, and that further injections of money were not needed? Me neither, because there never was such a time. The NHS has always been “underfunded”, and the solution to its woes has always been just a few billion pounds [...]
