Iceland to start easing 2008’s capital controls June 8, 2015 ICELAND’S government is offering international investors new routes to take their money out of the country, in the first step to normalise financial relations after seven years of capital controls. The state stopped flows of capital out of the island nation in the financial crisis in an attempt to limit the damage to the economy. [...]
Gateley IPO: Blue chip backing for first ever float of a UK law firm June 8, 2015 City fund managers including Schroders Investment Management and Miton Group have backed the pioneering float of Britain’s first listed corporate law firm. Gateley become only the second law firm in the world to list shares publicly following the introduction of new rules in 2012 allowing non-lawyers to invest in law firms. Shares in [...]
Tritax Big Box to raise £125m as it seals deal on Stoke warehouse June 8, 2015 Property investor Tritax Big Box said yesterday that it plans to raise £125m by issuing new shares at a price of 113p each. Since a placing undertaken by the company in March, which raised £175m, the company has acquired five logistics warehouses for £238.2m, net of acquisition costs. The firm has also completed two additional [...]
Serving up some stellar valuations June 8, 2015 Having a Michelin-starred restaurant on your doorstep can boost the value your home, according to research from Knight Frank showing two-thirds of house prices within 5km of restaurants recently awarded the accolade outperformed the local market. Tristan in Horsham (pictured), saw local house values rise by 15 per cent.
Car manufacturer Renault offers RCI Banque bank account for UK savers June 8, 2015 Car manufacturer Renault’s finance arm is launching savings accounts in the UK for the first time, diversifying its funding base. Motor companies often run finance businesses to fund customers’ purchases of their cars, as well as related insurance products. But offering a wider range of services is not as common. RCI Banque, as the unit [...]
Retailers’ tills set to ring to the tune of Middle Eastern shoppers June 8, 2015 RETAILERS will receive a welcome boost next week when Middle Eastern shoppers are set to flock to the UK for the annual pre-Ramadan rush, according to Global Blue. The tax-free shopping services firm is forecasting a similar surge in shoppers to last year, when spending from Middle Eastern nations soared 43 per cent year-on-year over [...]
Best venue race is a must-watch June 8, 2015 GET YOUR glad-rags out; the City’s most exclusive venues are holding hundreds of corporate events this summer, and they’re pulling out the big guns to get more. Two of the City’s most exclusive venues are both opening roof-gardens this season to attract corporate punters; with one even shelling out for free Apple Watches. Corporate monolith [...]
City Moves for 9 June 2015 | Who’s switching jobs June 8, 2015 Deloitte Jonathan Gray has been appointed partner in the business advisory firm’s London-based financial services consultancy practice. A fintech expert, he has over 20 years’ experience working across retail banking, wealth management, credit cards and insurance. Tilney Bestinvest The investment and financial planning group has appointed Stuart Layzell as chief financial officer. He began his [...]
Best of the Brokers for 9 June 2015 June 8, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com OPG POWER VENTURES Cantor Fitzgerald increased its target price to 134p from 130p, and retained a “buy” rating. Results last week showed that the near-tripling of capacity is now de-risked, and the commitment to a dividend has been underlined. Analysts also noted a [...]
FTSE dips despite Diageo gains after takeover reports – London Report June 8, 2015 TAKEOVER speculation sent some FTSE shares higher but overall the UK’s top index was offset by poorer performances elsewhere in the market yesterday. It finished near the previous session’s two-week low The blue-chip FTSE 100 index closed 0.2 per cent lower at 6,790.04 points after falling to a two-month low in the previous session. Diageo [...]
