Wake up and smell the coffee May 18, 2015 Yawn! Another day, another Shoreditch-based concept pop-up café. It’s enough to make you yearn for your bed. And, as luck would have it, this café is the brainchild of Swedish furniture leviathan Ikea, and the eating takes place in bed. The retailer argues it is leading a “breakfast in bed revolution”, which is replacing tables [...]
Whisky investment platform WhiskyInvestDirect raises £1m through crowfunding May 18, 2015 An online start-up that allows whisky-lovers to invest in premium bottles of the tipple said yesterday it has raised over its initial target of £1m on Angels Den, an angel-led crowdfunder. WhiskyInvestDirect was set up by Paul Tustain, the founder of online gold trading platform BullionVault, and former Diageo commercial director Rupert Patrick to allow [...]
Construction booming in the City as companies vie for office space May 18, 2015 Building activity in central London has soared by 24 per cent over the last six months, as developers scramble to meet demand for space, which remains in short supply, according data released today. Deloitte Real Estate’s latest London Office Crane Survey said there were 31 new starts in the period contributing 4.4m square feet (sq [...]
Alibaba to fight counterfeit case against Kering May 18, 2015 ALIBABA has dismissed the lawsuit brought by luxury giant Kering over counterfeit merchandise as “wasteful litigation”, but said it will fight the case “vigorously”. Kering, which owns high-end brands such as Gucci, Alexander McQueen, Saint Laurent and Balenciaga, is suing the Chinese e-tailer over claims it is complicit in the sale of fake handbags, watches [...]
Pork sales sizzling as Cranswick posts record £1bn annual revenue May 18, 2015 SAUSAGE-MAKER Cranswick’s sales have topped the £1bn mark for the first time. The company said that demand for British pig meat has increased in overseas markets, leading to revenue of £1.003bn for the year ended 31 March. Meanwhile, pre-tax profit rose 10.6 per cent to £57.8m. Cranswick’s efforts to diversify included buying Benson Park in [...]
Engineering group Aveva shares surge on takeover speculation May 18, 2015 ENGINEERING firm Aveva surged yesterday following reports that the company is being looked at by a number of interested parties. Shares in the company were up by 8.99 per cent, after the Sunday Times named French energy company Schneider Electric and US-based General Electric and Emerson as potential suitors for the Cambridge-based firm. Aveva will [...]
Fresnillo pleases market with gold output targeting 50pc rise May 18, 2015 SHARES in mining company Fresnillo were up by 5.39 per cent yesterday, after the company reported a “robust operational and financial performance” in 2014 at its annual meeting. Chairman Alberto Bailleres said last year had been “challenging” for the precious metals sector, with declining prices affecting Fresnillo and its competitors. However, he said: “Our high [...]
City Moves for 19 May 2015 | Who’s switching jobs May 18, 2015 AIG AIG in the UK has appointed John McClelland to the new post of head of portfolio solutions, UK. He was most recently chief operating officer within AIG’s UK commercial lines division and has over 16 years’ experience. He started his career with Aon Marine, before working for GUD and joining AIG in 2005. BFP [...]
Best of the Brokers for 19 May 2015 May 18, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com SMITHS GROUP (SMIN) Panmure Gordon reiterate its “Sell” rating on the group, with a target price of 880p. Smiths outlook statement will detail higher-than-expected decline in John Crane and Interconnect and a reversal in Flex-Tek, offsetting expected improvement in Medical and Detection. BOVIS [...]
Mining groups push market up as Lloyds falls – London Report May 18, 2015 Britain’s top share index nudged higher yesterday, thanks to gains in major mining companies, but it was held back by falls in Lloyds and pharmaceuticals company Hikma. The FTSE 100 index gave up early gains to trade up 8.38 points, or 0.1 per cent higher, at 6,968.87 by the close. The index hit a high [...]
