FTSE 100 Live: BT-Verizon deal; Stocks wobble as US and Iran renew talks; Burnham lays out plans for government
Watchdog forces payday lenders to put prices on comparison site February 24, 2015 THE COMPETITION and Markets Authority (CMA) yesterday ordered payday lenders to publish details of their loans on at least one comparison website, as the competition watchdog looks to increase transparency in the industry. In a report on the payday lending market, the CMA said that the country’s short-term lenders “should provide customers with clear, objective [...]
Juliette Binoche comes to town for fundraising performance of Antigone February 24, 2015 Those who enjoyed watching Juliette Binoche dream up truffles and other delights as Vianne Rocher in the film Chocolate will have the chance to feast on a whole evening in her presence at a fundraising dinner next month. The Oscar-winning actress will perform in a contemporary version of the Greek tragedy Antigone by Sophocles on [...]
Car parts maker GKN profits take a hit over pound February 24, 2015 Shares at car components giant GKN took a hit yesterday after its underwhelming results were blamed on a strong pound. Revenues at the company last year fell two per cent to almost £7.5bn as sterling took its toll through the company’s high exposure to foreign markets and cutbacks in military budgets. One area to show [...]
Drax shares up as analyst calls 2014 annus horribilis for firm February 24, 2015 SHARES in power generation firm Drax Group were up by 6.75 per cent yesterday, after the company reported profit of £166m for 2014, over five times the £32m profit reported in 2013. However, the company’s underlying earnings fell from £142m to £96m, which it said reflected “major deterioration in commodity markets, following oil market decline”. [...]
City Moves for 25 February 2015 | Who’s switching jobs February 24, 2015 Knight Frank The property consultancy’s retail division has announced the appointment of Richard Petyt as a partner in its agency team. He joins from Asda Stores, and in his new role will work on food store and mixed use development projects, development funding and food store portfolio rationalisation. Cantor Fitzgerald Europe Caspar Shand Kydd has [...]
Ipso under the lens: New independent press regulator gets off to rocky start February 24, 2015 Formed in the wake of the phone hacking scandal just four months ago, the Independent Press Standards Organisation (Ipso) hasn’t had the most auspicious of starts. There have been fears over funding, and perceived similarities to the previous regulatory regime. Yesterday, its bosses appeared in front of the House of Commons Culture, Media and Sport [...]
Best of the Brokers for 25 February 2015 February 24, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com BTG FinnCap reiterated its “sell” rating on the healthcare company, following news that the FDA has approved VenaSeal, a surgical glue used to treat varicose veins, from rival firm Covidien. The broker noted that Covidien has “an established sales force much larger than [...]
Greece and miners’ rally help London surge to record high – London Report February 24, 2015 Britain’s top equity index yesterday hit a record high as a rally in mining companies helped the three-decade-old blue chip index to surpass its previous high, set in late 1999. Reports that Greece had secured a lifeline from its creditors and increasing belief that the UK’s economic recovery was gaining momentum also helped the index [...]
Dovish Yellen helps Dow rise – New York Report February 24, 2015 US Stocks closed at new highs yesterday as investors reacted well to remarks from Federal Reserve chair Janet Yellen and Greece won EU approval for its proposed budget reforms. The Dow Jones Industrial Average rose 92.35 points, 0.5 per cent, to 18,209.19, while the Standard & Poors 500 gained 5.82 points, 0.3 per cent, to [...]
Why the US bull market still has further to run – Investment Comment February 24, 2015 Recent economic data from the US clearly indicates that the world’s largest economy is now much closer to reaching self-sustaining growth. The Institute for Supply Management’s (ISM) Manufacturing Index continues to show expansion, with its latest reading at 53.5 (albeit down fractionally from the previous month). The services-oriented ISM Non-Manufacturing Index – representing a much [...]
