General Election 2015: Business leaders speak out: Labour (still) isn’t working – Brand Index March 10, 2015 The General Election is almost upon us and polls show the public believes that if the Tories win, its business policies would be better than Labour’s for the economy. But what about the business community itself? Using YouGov’s Business Omnibus, and interviewing high-profile decision makers, 81 per cent thought Conservative measures would be good for [...]
Virgin Atlantic returns to profit on Delta alliance March 10, 2015 Virgin Atlantic is back in the black after its partnership with Delta Airlines helped to return the carrier to profit in 2014 for the first time in three years, it emerged yesterday. The airline, founded by Sir Richard Branson 30 years ago, used the positive news to pledge it would seek to exceed its previous [...]
Close posts earnings up 16pc but Winterflood unit weighs March 10, 2015 Close Brothers yesterday said that adjusted operating half-year profit to the end of January rose by 16 per cent to £108.6m despite weakness from its Winterflood arm. Its asset management business, led by Martin Andrew, accounted for £5.1m of the profit – a rise of 59 per cent in the corresponding period the previous year. [...]
Gatwick airport sees passenger numbers surge March 10, 2015 Passenger numbers at Gatwick swelled in February, figures reveal today, adding weight to the airport’s claim that it should be allowed to add a runway instead of Heathrow. More than 2.4m passengers travelled through Gatwick Airport last month, a seven per cent increase on the same period in 2014. The growth was driven by international [...]
Sluggish industrial production growth dampens hope of economic recovery in Italy and France March 10, 2015 TWO of the four biggest Eurozone economies are struggling to keep up with the currency union’s recovery, new official figures showed yesterday. French industrial production in January was down 0.9 per cent on the same month last year. Italy’s industrial production, plummeted by 2.2 per cent in January compared with the same month last year. [...]
City Moves for 11 March 2015 | Who’s switching jobs March 10, 2015 Linklaters The law firm has announced the appointment of Michael Kent as divisional practice head of finance and projects for a four-year term. He has been a partner at Linklaters since 1999, and currently heads its global financial regulation group. Baring Asset Management Rod Aldridge has been appointed head of wholesale distribution for Europe, the [...]
Best of the Brokers for 11 March 2015 March 10, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com SCHRODERS Numis moved the asset manager back to an “add” rating from “hold”, after new guidance from the firm, and said: “While it is a little dull and boring, we see this as a positive for long-term investors.” JAMES FISHER AND SONS Panmure [...]
FTSE 100 index in biggest drop of the year – London Report March 10, 2015 Britain’s top share index yesterday suffered its biggest decline so far this year, hit by drops in insurer Prudential and energy stocks such as BG. Prudential fell 3.1 per cent as the loss of its chief executive, Tidjane Thiam, to Credit Suisse took the shine off a 14 per cent rise in 2014 operating profits. [...]
Rate hike jitters hit Wall Street – New York Report March 10, 2015 US STOCKS dropped yesterday, giving the S&P 500 its biggest decline in two months, on increasing views the Federal Reserve may raise rates as soon as June. The Dow and S&P 500 ended in negative territory for the year, with the S&P 500 off 3.5 per cent from its 2 March record closing high. The [...]
How to save £50bn: Bold cuts to state spending will deliver prosperity for all March 10, 2015 Shadow chancellor Ed Balls has accused the Conservatives of planning “extreme” spending cuts if they get into Downing Street after the election. But there’s no way we can know whether the Tories’ plans are extreme or not, because they haven’t given any real details on what they will cut or by how much. And Balls’s [...]
