Investors prepare to battle it out for stake in British ports group March 23, 2015 INVESTORS are preparing competing offers for a major stake in Associated British Ports (ABP) ahead of the deadline for first-round bids this week. A 33 per cent stake in the group, which owns and runs 21 ports throughout the UK, is up for grabs, after Goldman Sachs and Prudential put their portions of the company [...]
Gulf Keystone Petroleum set to raise £30m as sale talks proceed March 23, 2015 OIL FIRM Gulf Keystone Petroleum will announce this week that it is to raise up to £30m through a share sale. Investors will be asked to pay around 33p a share and the company’s bondholders have been asked to agree to changes to the conditions attached to the bonds in an effort to make the [...]
New Scottish arm of solar trade group March 23, 2015 THE UK’S Solar Trade Association (STA) has launched a new Scottish arm, backed by politicians and figures from the energy industry. STA Scotland will be chaired by Forster Energy chairman John Forster. The group will advise and develop policy with the Scottish government, while also raising awareness about solar power. Around 35,000 homes and 600 [...]
City Moves for 23 March 2015 | Who’s switching jobs March 23, 2015 Old Mutual Global Investors Simon MacKinnon has been appointed Asia strategy adviser at the asset management firm, providing strategic advice to support its expansion in Asia Pacific. He is currently chairman of Sinophi Healthcare and Your.MD China, and was previously a venture partner at SMC Capital China. BNY Mellon Arnon Goldstein has been appointed head [...]
Russia warns Denmark of a nuclear strike March 23, 2015 RUSSIA has warned Denmark of a nuclear strike on its warships if the Scandinavian country joins Nato’s missile defence shield. The Russian ambassador to Denmark Mikhail Vanin issued the dramatic threat in an opinion piece published in the Danish daily newspaper Jyllands-Posten. Vanin wrote that Denmark had not comprehended the consequences of joining the Western [...]
IMF happy to cooperate with China-led infrastructure fund March 23, 2015 THE International Monetary Fund will be “delighted” to cooperate with the China-led Asian Infrastructure Investment Bank (AIIB), said IMF managing director Christine Lagarde yesterday. Lagarde added that there is “massive” room for cooperation with AIIB on infrastructure financing. The World Bank will also cooperate with the AIIB, Lagarde told a conference in Beijing. Her comments [...]
Best of the Brokers for 23 March 2015 March 23, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com ENQUEST GMP Securities reiterated its “reduce” rating on the oil firm. The broker said the company’s high cost base remains a concern but the main risk for the group in the short-term is on execution of its next key project in the North [...]
Britain likely to reach a record low for inflation – London Report March 23, 2015 CONSUMER price inflation is likely to have fallen to a new record low of 0.2 per cent in February, moving Britain closer to deflation. Official figures out tomorrow look set to show the fall in the index, which comes after the previous low of 0.3 per cent in January. Howard Archer, of IHS Global Insight, [...]
Investors eye indicators for clues on rates – The week ahead on Wall St March 23, 2015 INVESTORS enjoying near-record levels for major stock indexes will scrutinise housing data and other economic indicators this week for hints about the timing of US interest rate hikes to see if the rally will continue. Concern about the Federal Reserve’s path of rate increases and the soaring US dollar have resulted in big swings in [...]
Israel’s elections are another nail in the coffin for Middle East stability March 22, 2015 Let us be clear. It isn’t that Prime Minister Benjamin Netanyahu managed to win an upset re-election victory in Israel’s parliamentary elections last week that spells the definitive end of the Middle East peace process; it’s the manner in which he did so. With the last opinion polls before the election showing him decisively losing [...]
