Red faces at Naibu Global International as KPMG are called in after execs go Awol February 18, 2015 Well, this is awkward. Chinese sportswear brand Naibu Global International has called in the auditors after its chairman and executive director failed to update on its trading operations. Neither Lin Huoyan, chairman of the Aim-listed company, nor Lin Congdeng, the executive director, have returned calls from UK-based directors. In order to clarify the situation, the [...]
City Moves for 19 February 2015 | Who’s switching jobs February 18, 2015 JLL The real estate services firm has announced two appointments. Richard Servidei joins the alternatives team from Colliers International, where he was a director for out of town retail investment. Oliver Jordan (right) has joined the retail investment team from BCL, where he was a partner. Seddons The law firm has appointed Mark Lewis as [...]
Best of the Brokers for 19 February 2015 February 18, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com AVIVA Berenberg has reiterated its “sell” recommendation for insurer Aviva. Analyst Matthew Preston says: “Just 24 per cent of the reduction in business unit operational costs has made its way through to Aviva’s operating profit, while cash generation has also remained lacklustre.” LEGAL [...]
FTSE stalls on route to record high after Greek talks falter – London Report February 18, 2015 After touching a 15-year peak yesterday morning, the FTSE 100 ended the trading day unchanged. London’s blue-chip index hit 6,921.3 at one point, but then fell back to close at 6,898.08 – just 0.05 points down on the previous day. The index’s record closing high of 6,930.2 was reached in December 1999, while the record [...]
Fed helps to moderate fall – New York Report February 18, 2015 The Dow and S&P 500 ended barely lower yesterday after a drop in energy shares. However, declines were limited by minutes from the latest Federal Reserve meeting, which showed policymakers are concerned about raising interest rates too soon. The Dow Jones industrial average fell 17.73 points, or 0.1 per cent, to 18,029.85, the S&P 500 [...]
Playing by the book February 18, 2015 Annabel Denham talks to CrowdBnk founder and chief executive Ayan Mitra about plugging the SME funding gap and the importance of regulation in a new industry CROWDFUNDING appears to be experiencing an interminable growth spurt. According to Nesta, the UK alternative finance market grew by 91 per cent between 2012 and 2013, and crowdfunding represented [...]
The sea change in private banking: Why HSBC is right about the industry February 18, 2015 The HSBC revelations have been coming thick and fast this past week, and the bank has had to go so far as to apologise for its previous behaviour. It has been adamant that things are now different and that the transgressions of prior years are history. The real question is, can we take them at [...]
It’s time the City – and the UK – show support for a capital markets union February 18, 2015 Few people have anything good to say about the European economy. The pipes, they say, are clogged up – and even if they can be unblocked, they are rusting away. Brussels is normally seen either as a blockage, or as a hapless plumber who can’t figure out a solution. But work is progressing in Brussels [...]
Creaking mindsets: Why businesses are about to learn some hard lessons February 18, 2015 Are we experiencing a revolution in the way that organisations operate? A recent essay in the Harvard Business Review has caused a stir by claiming that we are. The authors, Jeremy Heimans and Henry Timms, draw a distinction between institutions that are defined by “old power” and “new power.” The former rely on the exclusive [...]
Why the soft skills generation is an asset – ACCA Comment February 18, 2015 It’s easy to criticise the young for their lack of business savvy but we may be missing a trick. Our young people aren’t up to the job. They just don’t have what it takes.” It’s a familiar refrain, isn’t it? Hardly a day goes by without a high-profile business leader expressing grave concern that the [...]
