City Moves for 3 June 2015 | Who’s switching jobs June 2, 2015 Fairstone Group The financial advisory business has appointed Hannah McGivern as marketing manager. She joins from Gardiner Richardson, a creative communications agency, and has also held positions at Bond Dickinson and Newcastle Science City. MSCI Antti Savilaakso has been appointed European head of environmental, social and corporate governance (ESG) research at the research-based indexes and [...]
Best of the Brokers for 3 June 2015 June 2, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com BRITVIC Deutsche Bank initiated coverage of Britvic at “hold” with a 750p price target. The broker said the same three drivers of the investment case in 2005 apply in 2015: a top line driven by innovation, strong cost management and some hope on [...]
Entertainment and tobacco losses add to cautious trading – London Report June 2, 2015 BRITAIN’S top share index posted its lowest close in more than three weeks yesterday, as tobacco stocks slipped after a Canadian court ruling and Merlin Entertainments slumped following an accident at a theme park run by the company. Shares in Merlin fell 3.5 per cent on news that four people were seriously hurt at one [...]
Investors await US job report – New York Report June 2, 2015 US STOCKS edged down yesterday, while the dollar fell and bond yields rose, as investors sought clarity on Greece’s debt crisis and awaited the US jobs report. The dollar was on track for its biggest one-day percentage decline against a basket of major currencies in nearly two years, while the euro rose on expectations that [...]
Can a currency save an economy? What the UK example teaches us June 2, 2015 Much has been said of global currency wars in the past few years. If there has been such a war, then arguably the UK fired the opening shot with a trade-weighted depreciation in the value of the pound of nearly 30 per cent between the summer of 2007 and the end of 2008. This was [...]
Corruption hits economic growth – and markets can do nothing to stop it June 2, 2015 Sepp Blatter’s resignation as president of Fifa comes after a week of scandal for the global football body. Among soccer fans, sadly, the organisation has become a byword for sleaze. England spent £21m on the campaign to secure the 2018 World Cup. The height of our attempts to influence the delegates seems to have been [...]
Contrarians are vital for a healthy democracy: We must celebrate them June 2, 2015 You're dealing with a lot of silly people in the marketplace; it’s like a great big casino and everyone else is boozing. If you can stick with Pepsi, you should be ok.” Apart from the fact that I prefer Diet Coke, this advice from Warren Buffett, one of the greatest contrarian investors of our time, [...]
Has Greek brinkmanship in debt negotiations damaged its position in the single currency? June 2, 2015 Konstantinos Venetis, an economist at Lombard Street Research, says Yes Taking negotiations down to the wire in the hope of preventing a “Gr-accident” has actually brought one closer. Greece’s state coffers dried up, the banking system suffered severe strain, and the economy relapsed into recession. Confidence is low and elevated uncertainty has increased the risk [...]
DVLA changes to complicate car hire rules: Counterpart driving licences are being abolished and renters must register online June 2, 2015 Hiring a car abroad can be a hassle – with costs, paperwork, forward planning and strange roads to be taken into consideration. But alongside cutting costs, drivers should also be aware of the DVLA’s changes around driving licences. The burden of carrying a paper counterpart driving licence when hiring a car abroad will be [...]
The ultimate foodie break to Jersey: The largest Channel Island has more than tax breaks and sunshine to offer June 2, 2015 Have you been to Jersey lately? Why not? It’s the sunniest place in the British Isles. You can leave your City office at 6pm and make an 8pm dinner reservation (I flew from London City with Blue Islands, which provides you with free drinks and won’t shout at you about the size of your carry-on [...]
