Ericsson dials up £700m cuts programme March 11, 2015 SWEDISH telecom equipment firm Ericsson yesterday announced that it was cutting 2,200 jobs in Sweden as part of a savings and efficiency programme. Ericsson said in November it aimed to cut annual costs by around 9bn Swedish krona (£700m), with full effect in 2017. The programme will effect mainly research and development (R&D), and entail restructuring [...]
City Moves for 12 March 2015 | Who’s switching jobs March 11, 2015 Edmond de Rothschild Olivier Colom has been appointed head of the private banking and asset management group’s new General Secretariat, responsible for ensuring the Executive Committee’s decisions are implemented. He joined Edmond de Rothschild in 2013 as an international adviser, and has previously served as an adviser to the President of France and in various [...]
Best of the Brokers for 12 March 2015 March 11, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com CARETECH WH Ireland reiterated its “buy” rating on the residential care home company, after it announced plans to raise £21m in order to accelerate its growth plans, through both organic growth and by making bolt on acquisitions. Target price is maintained at 330p. [...]
Late afternoon commodity rise lifts FTSE index – London Report March 11, 2015 COMMODITY stocks in the FTSE recovered well yesterday afternoon, from falling sharply earlier in the session because of concerns about economic growth in China, to drag the blue-chip index up. The FTSE 100 index closed 0.28 per cent higher at 6,721.51 points after a choppy session, which saw the index rising as high as 6,738.95 [...]
Wall St slides on fears of an early rate hike – New York Report March 11, 2015 US STOCKS ended lower for a second session yesterday as worries increased about the timing of a Federal Reserve interest rate hike and dollar strength further dampened the outlook for US corporate earnings. The move followed the S&P 500’s biggest one-day decline in two months in the previous session, which surpassed a sell-off of similar [...]
Diary of a Crowdfunder: Crowdfunding the medicines of the future March 11, 2015 Venomtech’s Steve Trim explains why he’s looking to raise £350,000 on SyndicateRoom. While working as a drug discovery scientist at a pharmaceutical company in 2009, an idea was brewing in my mind concerning a problem I was facing. The problem was how to make new drugs to cure pain which had fewer side-effects and worked [...]
Mega-city London will fall behind New York without a radical plan for growth March 11, 2015 At last, a real sense of urgency is starting to define the debate surrounding the future of London. As chancellor George Osborne and mayor Boris Johnson warned in their recent Long Term Economic Plan for London, the capital risks losing its leading status as a pre-eminent global city unless action is taken to plan for [...]
2015 General Election TV debates: Broadcasters won’t empty chair David Cameron – they’ve good commercial reasons not to March 11, 2015 The extended row over the proposed TV election debates has reached a deadlock. David Cameron has said he will take part in just one, but the broadcasters (supported by Tory opponents) are committed to running three. What will break this impasse? In my view, commercial factors will force the UK’s broadcasters to give up their [...]
Why transparency over pay is vital if we’re to reach gender equality March 11, 2015 Good news can sometimes feel like a rarity, but recent PwC data shows that the UK has improved its position in an international league table of female participation in the workplace, moving up four places to fourteenth in a ranking of the 27 OECD economies. It’s a welcome improvement, but there is still some way [...]
As the euro hits a 12-year low against the dollar, is a weak currency positive for the Eurozone? March 11, 2015 Danae Kyriakopoulou is an economist at the CEBR, says Yes As far as economic silver bullets go, a sharp depreciation in currency, when economies are suffering from both slow growth and dangerously low inflation, is a pretty good candidate. A weaker euro makes Eurozone products cheaper, both abroad and at home (where they compete with [...]
