Forbes reveals the wealthiest US businessmen are getting poorer October 1, 2015 Are America's wealthiest businessmen getting poorer? Forbes released its 40-strong American rich-list yesterday, putting Windows founder Bill Gates in first place for the 22nd year in a row. However, his net worth is down by almost seven per cent to a slightly more modest $76bn (£53bn). Gates beat US business icon Warren Buffett, [...]
Sainsbury’s and Glencore give FTSE 100 a three-digit lift – London Report October 1, 2015 The FTSE 100 enjoyed strong gains yesterday, helped by Sainsbury’s after the supermarket group lifted its full-year profit outlook. The blue-chip index climbed 152.37 points, or 2.6 per cent, to close at 6,061.61. Despite reporting a seventh straight quarter of falling sales, Sainsbury’s shares soared 13.8 per cent. Other supermarkets were also lifted, with Morrisons [...]
Best of the Brokers for 1 October 2015 October 1, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com HSBC HOLDINGS UBS upgraded the bank from “neutral” to “buy”, and lowered the target price from 595p to 550p, reflecting earnings downgrades. The broker said it believes the relative risk/reward balance on the shares has shifted to the upside. It added: “While [...]
Crowdfunding: Enter the disruptive finance revolution October 1, 2015 The funding situation for British startups has changed irrevocably since the global financial crisis. Equity crowdfunding has quickly become an important funding mechanism for many small businesses and is now a major part of the UK’s entrepreneurial finance landscape. Currently valued at £146m in 2015, this is almost double the figure for 2014, and [...]
How to up the social media ante in your workplace: A specific calendar is a must if you want to keep ahead October 1, 2015 We all use social media in life – and with varying degrees of success. But when it comes to using it for business, are there ways you could do so more effectively? Here are five tips from a panel discussion hosted by Headspace, the London-based events and flexible working space firm. BE CREATIVE The [...]
Migrating south for the winter can be making of young players – Chris Tremlett’s cricket comment October 1, 2015 Every single county cricketer looks forward to October because they tend to be mentally and physically shattered following a long domestic season and a solid six-month block of playing and travelling. For those players who are not involved in international squads, October and usually November tends to be a completely free period to go [...]
Lone Star closes in on Wembley Arena owner Quintain takeover after winning huge shareholder backing October 1, 2015 Lone Star closed in on its takeover of Wembley arena owner Quintain last night after announcing that it has won the backing of over 90 per cent of shareholders. The US private equity giant was forced to raise its offer last week after activist hedge fund Elliott gatecrashed the deal at the eleventh hour and [...]
Blossom Hill and Piat d’Or could move Down Under in Diageo deal October 1, 2015 The Alcoholic drinks giant Diageo, which owns Johnnie Walker and Ciroc vodka, is looking to offload its wine division. The move by FTSE-100 listed firm, first reported by Sky News, would likely see wine brands Blossom Hill and Piat d’Or sold off to Australian wine maker Treasury Wine Estates. The deal could be announced as [...]
Pension lobby calls for flat rate tax changes October 1, 2015 Pensions savers could soon see a single rate of tax relief if industry proposals come into force. Last night, the government closed its consultation on how pensions should be taxed, after providers were invited to put forward their concerns. Pensions experts have called for a single level of tax to replace the current, tiered [...]
Saga profits jump after motor unit drives ahead October 1, 2015 Insurer Saga posted a 140 per cent jump in pre-tax profit for the six months to 31 July, up to £101.3m from £42.2m, and announced its first interim dividend of 2.2p. The company, which specialises in products for the over-50s, highlighted its motor business, which saw a 9.7 per cent increase in policies. Trading Ebitda [...]
