City Moves for 28 September 2015 | Who’s switching jobs September 27, 2015 BLACKROCK PROGRAMME MANAGEMENT The professional services firm has announced the appointment of Tim Trotter as chairman. For the last eight years he has served as chairman of advisory business Glenfern. Prior to that, Trotter founded Ludgate Group, where he was chief executive and chairman. SEDDONS The law firm has announced the promotion of Simon Noonoo [...]
Best of the Brokers for 28 September 2015 September 27, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com Canaccord Genuity downgraded its target price for the owner of the Daily Mail and Metro newspapers, Daily Mail and General Trust, to 815p from 855p, but kept its “hold” rating as it predicted the group’s full year results would be in line with [...]
Few reports but Sainsbury’s and Tesco to update – London Report September 27, 2015 EQUITY reports are light again this week, ahead of earnings season which begins in earnest in the second half of October. Sainsbury’s first-half numbers, released on Wednesday, will be interesting, as the sector prepares to reveal how trading has fared over the past six months. Few people are expecting an upbeat statement. However, according to [...]
Shutdown is likely on hold – New York Report September 27, 2015 THE SHOCK resignation of US House Speaker John Boehner on Friday reduces the chances of a government shutdown this week, potentially removing one source of investor anxiety as Wall Street gears up for a week heavy with economic data and commentary by Federal Reserve policymakers. Boehner’s announcement was seen as a sign that he would [...]
The West’s failed Syria policy: Why it’s time to do nothing September 27, 2015 When I worked in Washington, perhaps the dreariest job of all was covering congressional hearings. It is a task that only the interns end up doing, and then under protest. In fact, in my office, we literally drew straws for the ordeal, with the short straw having to spend a numbing eight hours or so [...]
It’s in London’s self-interest to support faster growth across the UK’s regions September 27, 2015 The Northern Powerhouse continues to garner much media attention, but we cannot ignore other areas of the country, and in reality we should be calling it the “Regional Powerhouse”. Just over a week ago, we saw the official opening of the newly-revamped train station at New Street in Birmingham. The five year project, costing £750m, [...]
Immigrants are fuel for the UK tech sector – but slow-moving bureaucracy is keeping them out September 27, 2015 The UK’s tech star is certainly rising. From the growing number of unicorn valuations, to the ever-larger venture capital cheques, British entrepreneurs are now commanding global attention. Yet much has been said about the UK’s poor track record in harnessing technology and science talent. This is now being addressed – Britain recently became the [...]
As the Labour Party meets for its annual conference, has the ascent of Jeremy Corbyn tarnished its brand forever? September 27, 2015 Laura Swire, director of Hanover Communications, says Yes. History would suggest not. For those with memories of the 1980s, we are in familiar terrain, with Labour’s leader once again posing a threat to national and economic security. Unilateralism, anti-Nato posing and fantasy economics, all deeply unpopular as recent polls show, are back in vogue. However, [...]
Michael Moritz: Billionaire venture capitalist on leadership and his new book with Sir Alex Ferguson September 27, 2015 If you meet Michael Moritz, you’re speaking to a venture capitalist whose investments include Google, PayPal, Yahoo and LinkedIn. He was the man Steve Jobs described as Apple’s “historian”, and went on to write the first history of the company, The Little Kingdom. His firm, Sequoia Capital, forms close relationships with young founders, whose companies [...]
Avoiding pitfalls in a management buy-out – Investec Comment September 27, 2015 A management buy-out, when a management team buys a company from its existing shareholders, should be a win-win situation. The management team, alongside its private equity backer, gets to acquire the business they have worked hard to build. For the selling shareholder, the business’ management team is in theory the most educated buyer they could [...]
