Ministers reject plea that Lord Burns carry on as Channel 4 chairman September 29, 2015 Lord Burns is to step down as Channel 4 chairman after ministers overruled a recommendation by the media regulator that he stay on to steer the broadcaster through the BBC Charter Review next year. The Department for Culture, Media and Sport (DCMS) rejected a suggestion from Ofcom that Burns should be granted a year-long extension, [...]
Itsu gobbles up more customers as profits jumps September 29, 2015 FOOD conscious Britons seeking out healthier lunch options helped to drive up sales at Itsu by more than a fifth last year. The sushi specialist, launched by Pret a Manger founder Julian Metcalfe, posted a 20.8 per cent rise in turnover to £67.9m in the year to January, with like-for-like sales up by 6.8 per [...]
London beats New York for the number of high tech jobs September 29, 2015 London is home to more tech talent than the cities of New York and San Francisco – or anywhere in Europe. There are more than 71,000 professional developers in the capital, according to research from Stack Overflow, an online developers’ group: 25 per cent more than NYC. A separate set of data from [...]
Saudi Arabia takes billions from asset managers to shrink deficit September 29, 2015 Saudi Arabia has pulled up to $70bn (£46bn) out of global asset managers in a bid to cut its deficit and reduce exposure to equities markets as it struggles to deal with weakened global oil prices. According to a report in the Financial Times, the Saudi Arabian Monetary Agency’s foreign reserves have fallen by almost [...]
The Square Mile salutes all those who served the country September 29, 2015 Thursday saw the City’s great and good come together once again to raise a glass and funds for those who put their lives on the line for us. A little matter of a Black Cab demonstration nearby was not going to deter those who had secured their ticket and Guildhall played host to 400. [...]
Kurobuta London’s controversial sign at Mayfair restaurant pits East against West September 29, 2015 Kurobuta, the sleek and exclusive oriental eatery just off Mayfair, has made an enemy of a section of London’s Japanese community after locals discovered a sign in the restaurant’s window advertises something other than sashimi. Readers of Japanese language local newspaper Japan Journals wrote in horror after discovering that the sign for the restaurant, [...]
FTSE slumps as miners plumb China depths – London Report September 29, 2015 BRITAIN’S leading share index fell yesterday as fears grew over mining group Glencore’s ability to withstand a metals price slump and as Vodafone’s European tie-up talks with Liberty Global ended. The FTSE 100 index was down 2.5 per cent, at 5,958.86 points at its close, a touch lower than European indexes. The UK market is [...]
Best of the Brokers for 29 September 2015 September 29, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com HOME RETAIL GROUP Cantor Fitzgerald believes Home Retail Group has reached rock bottom after a year of underperformance in the stock. It has therefore upgraded its recommendation from “hold” to “buy” and kept its target price steady at 195p. The broker said that [...]
What’s eating key global currencies? The effects of the fallout of worldwide rate hikes and a slowing Chinese economy explained September 29, 2015 The world's key currencies have been subject to significant sideways trading in the last few months, including the euro- dollar, sterling-dollar and yen-dollar. The relatively stable euro-dollar rate is down to relative interest rates between the US and Eurozone staying stable. This is backed up by improving inflation and unemployment in Europe and [...]
Volkswagen emissions scandal: Is it worth buying VW crisis stocks following share price drop? – CNBC Comment September 29, 2015 Should you or should you not buy VW shares? As the news continued to come on the emissions scandal last week, many investors were selling their stakes, and the company’s stocks lost some 30 per cent on Monday and Tuesday. Shareholders were spooked by fears of a hefty fine of up to $18bn from the [...]
