Boom in the City as professional services output increases quickly May 28, 2015 Business services firms are seeing a boom on a scale not experienced for almost a decade, with sales volumes rocketing and hiring up, according to a study today from the Confederation of British Industry (CBI). Profits are picking up sharply at accountancy, law and marketing firms, with 39 per cent of business and professional services companies [...]
As Wembley gets 4G, should football clubs offer wifi? Why Arsenal, Manchester United and Chelsea should look to Kansas for connectivity inspiration May 28, 2015 Just a handful of football clubs offer fans fast smartphone connections despite growing pressure to install the technology. But how does the footy tech race impact fans and clubs? Arsenal and Aston Villa fans flooding Wembley Stadium for the FA Cup Final are unlikely to be stuck for a smartphone signal after telecom giant [...]
Dubai and Netherlands moves set IG Group on track for targets May 28, 2015 Online trading company IG Group said yesterday that it remains on track to meet full-year financial expectations. In a trading update for the fourth quarter, IG said it made good strategic progress over the period, extending its stockbroking offering into the Netherlands and receiving approval in-principle of its regulatory licence in Dubai towards the end [...]
Cinven’s €1.2bn deal for French medical firm May 28, 2015 PRIVATE equity firm Cinven yesterday bought medical diagnostics company Labco from a group of investors including 3i in a deal valuing the French business at €1.2bn (£857m). Labco, which was considering a stock market flotation, was established in 2003 and has offices across Europe including in the UK. It tests samples and delivers the results [...]
Stock market in China plunges by six per cent May 28, 2015 STOCKS in China plummeted yesterday, but remain at an elevated level having soared so far this year. The Shanghai composite index lost 6.5 per cent, but the collapse is barely a drop in the ocean compared to the index’s recent climb. Since early February the index has gained over 50 per cent, rising from a [...]
PayPoint profits rise as it gets ready to sell off PayByPhone May 28, 2015 RETAIL technology firm PayPoint announced growing net revenue and operational profit for the year ending 31 March. The firm’s net revenue rose 8.3 per cent, and operating profit increased by 9.1 per cent. Net revenue from its retail network in the UK and Ireland was up 9.3 per cent. Shareholders will benefit, as the dividend [...]
RBS could be ordered to beef up new lender Williams and Glyn May 28, 2015 George Osborne yesterday asked the competition authorities to look into the RBS spin-off Williams and Glyn to make sure it is big enough to challenge other banks in the market. Bailed-out giant RBS has to carve the unit out of its existing branch and customer network, under terms imposed by the European Commission at the [...]
Sberbank keeps head above water despite Russia’s woes May 28, 2015 RUSSIA’S largest lender Sberbank kept in the black in the first quarter, managing to report a profit despite the country’s economic troubles. The economy is threatened with a deep and prolonged recession, thanks to low oil prices and Western sanctions imposed over the state’s war with Ukraine. But Sberbank still managed to report a profit [...]
City Moves for 29 May 2015 | Who’s switching jobs May 28, 2015 EC Harris The natural and built asset design and consultancy firm has appointed James Crawley as an associate partner in its development management and consultancy team. Based in Leeds, he joins from Calderdale Council. Crawley has also held roles at Muse Developments and M&G Real Estate. OM Asset Management Trevedi Tewari has been appointed head [...]
Best of the Brokers for 29 May 2015 May 28, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com ICAP Numis downgraded the market services group from “hold” to “sell” on the basis that the shares have “run too far and do not fairly reflect the higher level of targeted investment spend, the ongoing challenging market conditions and the investigation into ISDAfix [...]
