Chinese building firm pairs with Interserve for London project June 3, 2015 THE CHINESE state-owned construction firm behind numerous landmark buildings in the Middle East such as the Al Hikma Tower has been named as one of the preferred bidders to build the £550m One Nine Elms scheme in Battersea. A joint venture between China State Construction Engineering Corporation (CSCEC) and London-listed Interserve, named CI-ONE Construction, was [...]
Economists opt to wait on rate hike June 3, 2015 WITH inflation drifting into negative territory, growth slowing at the start of the year, and recent surveys suggesting that weak growth continued, City A.M.’s panel of economists voted seven to two to hold interest rates. The Bank of England’s nine-strong monetary policy committee will announce its monthly decision on whether to hold, raise, or even [...]
Saturday’s Jupiter London Nocturne is not to be missed June 3, 2015 The free to attend cycling event hits the City’s historic Smithfield Market this weekend THIS Saturday, the Jupiter London Nocturne returns to the City’s historic Smithfield Market. It’s the ninth year the spectacular night-time criterium cycle event is hitting the heart of the Square Mile, it’s Jupiter Asset Management’s second year of sponsorship, and it [...]
City Moves for 4 June 2015 | Who’s switching jobs June 3, 2015 PwC Gareth Lewis has been appointed director in PwC’s real estate practice. He has formerly worked as a consultant at EY and the Urban Land Institute. Lewis has also been a representative at the European Public Real Estate Association and the British Property Federation. JLT Re The reinsurance broking and consultancy firm has appointed Chris [...]
Best of the Brokers for 4 June 2015 June 3, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com AMEC FOSTER WHEELER Canaccord Genuity reiterated its “buy” rating on the engineering group, after the company reduced its outlook for 2015. The broker said: “Although weakening upstream oil & gas was well known, there has also been some disappointment around the renewable energy [...]
FTSE hit by poor services figures – London Report June 3, 2015 BRITAIN’S top equity index slightly underperformed its Eurozone peers yesterday as a survey of the dominant services sector came in sharply below forecasts. The blue-chip FTSE 100 index was up 0.3 per cent at 6,950.46 points at the close, compared with rises of 0.6 to 0.8 per cent for the Paris CAC 40 and Frankfurt [...]
US stocks rise after optimism over Greek deal – New York Report June 3, 2015 US stocks rose yesterday, helped by optimism that Greece was close to an agreement to avoid default and as further gains in bond yields lifted financials. The S&P financial index climbed 0.7 per cent and was among the day’s top sector performers as US benchmark Treasury debt yields jumped to seven-month highs, extending recent gains. [...]
David Cameron’s EU renegotiation must free Britain from ever closer union June 3, 2015 As the Prime Minister jets from one European capital to another, seeking support for Britain’s EU reform agenda, the issues on the table are many and varied, ranging from the benefit entitlements of immigrants to the protection of the City of London. But amid all the detail, there is one overriding issue on which the [...]
Three lessons for business from the downfall of Fifa president Sepp Blatter June 3, 2015 There are three things people in business should take away from the downfall of Fifa president Sepp Blatter. First, and most obviously, we crave leaders with integrity – those who are able to do the right things for the organisations they serve, and who have the social awareness to see when their own position becomes [...]
Peer-to-peer lending isn’t shadow banking: It’s now more transparent than ever June 3, 2015 Whether we in the industry like it or not, peer-to-peer lending has for some time been lumped together with the likes of hedge funds, offbeat types of investment vehicles and even payday lenders in what is known as the “shadow banking sector”. This term was originally designed to cover those entities outside the regular banking [...]
