Matalan chief Jason Hargreaves makes retailer a family affair May 14, 2015 Jason Hargreaves made a trip to Oxford Street earlier this year with his four-year-old daughter in tow. The managing director of Matalan, the out-of-town value fashion and homeware chain founded by his father, John Hargreaves, 30 years ago, came to view its first ever central London store at the east end of on Oxford [...]
British Land’s profit climbs on London boom May 14, 2015 BRITISH Land said that underlying profit before tax rose 5.4 per cent to £313m for this financial year, up from £297m a year earlier. Diluted underlying earnings per share rose 4.1 per cent to 30.6p, an increase from 29.4p in 2014. The developer’s total portfolio valuation rose by 12.1 per cent to £13.63bn. This was [...]
City Moves for 15 May 2015 | Who’s switching jobs May 14, 2015 Simmons & Company International The energy investment bank has appointed Nabeel Siddiqui as director in its London office. He joins from Epi-V, the upstream oil and gas focused private equity firm. Siddiqui has more than 12 years’ experience, and has also held roles in the US arm of DNB Markets. Olswang Paul Stevens has been [...]
Best of the Brokers for 15 May 2015 May 14, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com CENTRICA Jefferies initiated coverage of the energy company with a “buy” rating. The broker said that although the last 18 months “have been abysmal for Centrica”, with market and political condititions stabilising the risk/reward for the shares now looks modestly favourable. CHIME COMMUNICATIONS [...]
Wax models and 3i help FTSE beat commodity pain – London Report May 14, 2015 THE FTSE 100 index ended higher yesterday with encouraging updates from companies such as 3i Group supporting the broader stock market. Private-equity group 3i rose three per cent, the biggest gain in the FTSE 100, after it reached the end of a three-year restructuring with strong earnings growth at its portfolio companies. “The group remains cautious [...]
US stocks rise as weak dollar boosts sales – New York Report May 14, 2015 US STOCKS ended sharply stronger yesterday and the S&P 500 closed at a record high as investors worried less about interest rates and a weaker dollar offered the possibility of stronger sales for US multinationals. The S&P 500 gained 22.62 points, or 1.08 per cent, to end at 2,121.1, exceeding its previous all-time high close [...]
UK banking’s falling competitiveness should worry the whole of the country May 14, 2015 Contrary to most expectations, we have a government. And although David Cameron might have felt he had it difficult in his first term as Prime Minister – dealing with a huge budget deficit while in coalition – this term also has its challenges. His majority is slim, there is the far from little matter of [...]
Labour made a strategic error in opposing an EU vote: It must reverse course May 14, 2015 Now that the stoor is settling, Labour might want to consider some of the blunders Ed Miliband made that helped drive voters towards the Conservatives – or even Ukip. The first is that Labour made a strategic error by not offering an in/out EU referendum. This misjudgement delivered four outcomes that Miliband could have avoided: [...]
Sadiq Khan is the active mayor London needs to drive sustainable growth May 14, 2015 Sadiq Khan’s story is the story of London at its best. The son of a bus driver, he became the first ever Asian to attend Cabinet. From growing up in a council house in Tooting, he took his law firm from just two partners to employing over 50 people. If many more are to be [...]
As RICS calls housing a “national emergency”, are UK politicians incapable of fixing the crisis? May 14, 2015 Stephanie Lis, who works for the Institute of Economic Affairs, says Yes Politicians of all stripes have been woeful in their attempts to deal with the UK’s escalating housing crisis. While all the main parties have acknowledged the symptoms of our dysfunctional market – which has seen prices increase more than fourfold in real terms [...]
