Smaller hedge funds do better during periods of financial crisis July 19, 2015 Hedge funds managing smaller pools of cash outpace their larger peers during times of financial crisis, an academic study shows. The report by Cass Business School reveals that small hedge funds left big hedge funds for dust in the wake of the 2008 financial crisis. They were also found to have outperformed large funds between [...]
Ikea promises to adopt the living wage for its 9,000 UK employees July 19, 2015 Home furnishing giant Ikea yesterday pledged to adopt the living wage from 1 April next year – a move that will affect more than half its 9,000 UK staff. Describing the pay increase as “part of a holistic transformation of basic co-worker conditions”, Ikea said UK employees will receive a minimum of £7.85 per hour [...]
Retail veteran Browett joining Octopus board as non-executive July 19, 2015 Retail guru John Browett has been appointed to the board of fund manager Octopus Investments as non-executive director. Browett, best known for heading Dixons Retail for five years between 2007 and 2012, is currently the boss of homewares store Dunelm. He also had stints as chief executive of Monsoon Accessorize, boss of Tesco’s online arm [...]
Single market for fund firms under threat July 19, 2015 TWO THINK tanks are calling for an overhaul of EU fund management regulations after they said current rules impede the single market. Open Europe and New City Initiative said fund managers across the continent are forced to pay over €1.5m (£1m) of additional initial costs per year if they market their funds to other EU [...]
Best of the Brokers for 20 July 2015 July 19, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com DIXONS CARPHONE Numis reiterated its “add” rating on the retailer, noting that the group posted strong underlying profit growth during 2015, “a period of significant corporate change” as the broker described it. Numis added that the merger process continues to run smoothly and [...]
Bank of England minutes to give clue on rate hike – London Report July 19, 2015 INCREASED rhetoric from the Bank of England suggesting an interest rate hike could come soon has sparked extra interest in this week’s minutes of the latest Monetary Policy Committee meeting. The minutes, out on Wednesday, will give clues as to how many MPC members are likely to vote for an interest rate before the end [...]
US investors awaiting slew of tech results – New York Report July 19, 2015 GOOGLE’S strong quarterly results, which unleashed a massive surge in its shares on Friday, has investors feeling upbeat heading into this week’s tech-heavy slate of earnings reports. Among the numerous tech companies releasing earnings next week are International Business Machines, Microsoft and Apple, all of which are expected to show growth. Wall Street analysts expect [...]
Europe should rediscover its confidence in battling against China’s protectionism July 19, 2015 “Giving people self-confidence is by far the most important thing I can do. Because then they will act.” – former GE chief executive Jack Welch Beyond doubt, we are not living through a golden age for Europe. But just as feckless champions of the EU as a superpower have been found intellectually wanting, so [...]
We should be proud of our City – and what it contributes to UK society July 19, 2015 The City has had an action-packed fortnight, stuffed with events that each had a very different focus and a very different meaning. On 7/7, the whole country paused to reflect on the bombings of 2005. Sombre yet inspiring services were held across the UK, including at St Paul’s Cathedral, which provided opportunities to honour those [...]
The HS2 debate is over: It’s time to embrace the benefits July 19, 2015 One of the consequences of this year’s General Election is that HS2, the high-speed line from London to the Midlands and the North, is now almost certain to happen. The immediate challenge for London business is to take advantage of the huge opportunities it provides for regeneration and development in west London, where a new [...]
