PZ Cussons in Nigeria buy-out April 1, 2015 PZ CUSSONS has bought out its partner Glanbia’s 50 per cent stake in their Nigerian joint venture, milk-based drinks supplier Nutricima, for £21m in cash. The consumer goods giant created the joint venture in 2003 to supply evaporated milk and milk powder to the Nigerian market. It has since developed three well-known brands including Nunu [...]
Shell crosses first hurdle in its controversial Arctic drilling plans April 1, 2015 SHELL’s controversial plans to drill for oil in the Arctic moved one step closer yesterday, when the US Interior Department upheld a 2008 lease sale in the sea off Alaska. The ruling means Shell could soon return to oil and gas exploration in the Arctic since it suffered mishaps in the region in 2012. “The [...]
City Moves for 02 April 2015 | Who’s switching jobs April 1, 2015 Savills The property adviser has appointed Natasha Demirbag as neighbourly matters director in its building and project consultancy team. She has 17 years’ experience in property, and has previously held roles at Watts and Partners, Drivers Jonas, and Orpwood Associates. Brown Shipley The private bank has appointed Jim Willens as chairman. He has been a [...]
Best of the Brokers for 02 April 2015 April 1, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com SAB MILLER Numis reiterated its “buy” rating on the beer and soft drinks group, following an analyst presentation on Tuesday. The firm’s guidance on its 58 per cent owned joint venture MillerCoors was unchanged, and it is “still optimistic about the margin opportunity [...]
Manufacturing data help FTSE to bounce back after big falls – London Report April 1, 2015 DATA RELEASED yesterday showing that Britain’s manufacturing sector grew at the fastest pace in eight months prompted investors to buy equities on the first trading day of the quarter. The blue-chip FTSE 100 closed 0.5 per cent higher at 6,809.50 points after a 1.7 per cent slide on Tuesday that trimmed its first quarter gains [...]
Wall St slips before reports – New York Report April 1, 2015 US STOCKS eased yesterday as weaker-than-expected economic data spurred concerns over growth ahead of tomorrow’s jobs report and first-quarter earnings. The Dow Jones industrial average fell 77.94 points, or 0.44 per cent, to 17,698.18, the S&P 500 lost 8.2 points, or 0.4 per cent, to 2,059.69 and the Nasdaq Composite dropped 20.66 points, or 0.42 [...]
Political risk is rising globally – with worrying consequences for markets April 1, 2015 Uncertainty about global and domestic politics is greater today than it has been for some years. It is therefore inevitable that political risk will play a more prominent role in capital market investment decisions than it has done for many years. Political risk is not a new phenomenon in markets. As early as 1294, the [...]
UK house prices: We can ramp up housebuilding by turning offices into flats – if the planners let us April 1, 2015 The UK suffers from an acute housing shortage, and this has led to prices outpacing incomes in nearly every year since the early 1990s. Most government initiatives to address this problem, however, have merely resulted in greater demand for properties. In fact, the only way to tackle the issue properly is to increase supply. But [...]
Forget NHS romanticism: Market-based healthcare is far better for patients April 1, 2015 Nigel Crisp knows the NHS better than almost anyone. In his role as its chief executive (2000-2006), he oversaw the formulation and, partly, the implementation of transformative reforms. His book “24 hours to save the NHS” can serve as an antidote to the popular penchant for “NHS romanticism”, because in parts it is a story [...]
After 103 business leaders came out in support of the Tory Party, were they right to intervene? April 1, 2015 Ben Page is chief executive of Ipsos MORI, says Yes The views of business leaders and major employers do matter, and we know that 86 per cent of the FTSE 500 think that a Conservative government would be best for business. It’s a free country and freedom of speech matters. But despite the party having [...]
